QZM.V · 2025-06-24 12:00:00

Quartz Intersects Long GOLD-Silver Intervals from Phase TWO Drilling at Maestro Potential Significant Scale, Open-Ended Mineralization is Indicated Phase Three Drilling About to Commence

Exploration Programs

QUARTZ INTERSECTS LONG GOLD-SILVER INTERVALS FROM PHASE TWO DRILLING AT MAESTRO

POTENTIAL SIGNIFICANT SCALE, OPEN-ENDED MINERALIZATION IS INDICATED

Phase Three Drilling About to Commence

June 24, 2025 – Vancouver, British Columbia – Quartz Mountain Resources Ltd. (TSXV: QZM, OTC Pink: QZMRF) (“Quartz”

or the “Company”) is pleased to announce assay results from four core holes that comprise the Phase Two drill program

completed at the Prodigy gold-silver discovery on its Maestro Property in Central British Columbia. All four holes, PR25-

03 through PR25-06, returned broad intervals of precious and base metals mineralization, starting from a shallow depth.

The results represent a successful follow-up to previously announced discovery drilling and the initial start to

delineation of a substantial new epithermal Au -Ag system at Maestro. Drill intersections indicate strong potential

for both bulk tonnage and high -grade mineralization. The Prodigy Au -Ag system remains open in all directions

promising signiﬁcant upside and expansion potential. Phase Three drilling is now mobilizing to site to continue the

systematic delineation of Prodigy.

Assay results from Quartz’s four, Phase Two core holes and the earlier completed two, Phase One core holes (PR23-

01 and PR23-02) are listed in Table 1 below. For completeness, results from six historical core holes drilled in the

period 2007-2011 by a past operator in the Prodigy area are listed in Table 2. All these holes have intersected Au-Ag

veins occurring within a bulk tonnage-epithermal-style, disseminated Au-Ag system hosted within Mo-Cu porphyry

mineralization (see Figure 1 and Figure 2, Prodigy “Eye” Drill Hole Plan Map). Table 3 lists results from four historical

holes located east of Prodigy which clearly intersected a major molybdenum-copper porphyry system which is separate

and distinct from the adjacent Prodigy epithermal Au-Ag discovery.

Bob Dickinson, Chairman of Quartz said “One of the things that excites us most is Maestro shares a promising geological

environment with the Blackwater Gold Mine which Artemis Gold Inc., recently placed into production. This geological

connection strengthens our belief in Maestro’s signiﬁcant potential and inspires our ongoing 2025, multi-stage delineation

drill programs. At Prodigy, large volumes of multiple styles of brecciation have undergone extensive rock alteration and

quartz-ankerite veining. Rock alteration, predominantly green sericite, which is associated with Au-Ag mineralization, has

created a signiﬁcant magnetic low due to the destruction of magnetite within the altered and mineralized area . This

prominent magnetic low has an “Eye” shaped geometry measuring 525 m long by 225 m wide and indicates a substantial

mineral system to be drill deli neated. With $3,600,000 of fund s on hand, Phase Thre e drilling at Prodigy is about to

commence and is designed to support Quartz’s strategy of developing high value, hi gh demand projects with signiﬁcant

transaction potential.”

The Maestro property completely covers the large Lone Pine molybdenum deposit and Quartz’s targeted, and potentially

related, epithermal precious metal systems that occur up to several kilometres outboard of Lone Pine. Currently, the

Company’s phased drill programs are focused on delineation drilling of the Prodigy Au-Ag discovery, one of several exciting

precious metal deposit targets on the Maestro Property. The four, Phase Two holes, totalling totally 3,255 meters, were

drilled westerly at angles of 60° to 73° across the southern end of the “Eye”. Au-Ag mineralization in multiple zones was

cut by these holes from near surface, laterally for approximately 325 meters and to vertical depths of over 650 meters.

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Quartz Phase One and Phase Two Prodigy “Eye” Assay ResultsA

TABLE 1

Drill Hole

Number

Incl. From

(m)

Int.1,2,3

(m)

AuEQ4

(g/t)

(%)

PR23-01 51.0 252.0 201.0 0.53 0.18 18 0.010 0.05

incl 51.0 96.0 45.0 0.74 0.24 28 0.015 0.05

incl 153.0 240.0 87.0 0.62 0.25 19 0.007 0.07

279.0 282.0 3.0 3.95 0.65 215 0.002 0.46

375.0 393.0 18.0 0.54 0.09 1 0.065 0.03

PR23-02 81.0 279.0 198.0 0.47 0.20 10 0.014 0.04

incl 225.0 279.0 54.0 0.94 0.59 16 0.016 0.04

324.0 759.0 435.0 1.22 0.65 30 0.025 0.04

incl 324.0 675.0 351.0 1.47 0.78 36 0.029 0.05

and 537.0 639.0 102.0 3.80 2.22 104 0.029 0.09

and 537.0 549.0 12.0 9.63 1.23 586 0.060 0.61

and 603.0 639.0 36.0 6.93 5.73 87 0.013 0.05

PR25-03 87.5 690.9 603.4 0.56 0.25 12 0.020 0.03

incl 87.5 258.7 171.1 0.70 0.22 24 0.017 0.06

and 87.5 123.0 35.5 0.93 0.18 41 0.013 0.12

and 157.0 258.7 101.7 0.77 0.29 23 0.020 0.05

and 200.0 258.7 58.7 0.93 0.41 25 0.025 0.04

incl 365.6 541.0 175.4 0.66 0.30 9 0.035 0.03

and 390.0 528.0 138.0 0.71 0.33 10 0.034 0.03

and 456.0 484.5 28.5 1.02 0.51 11 0.055 0.04

and 504.3 528.0 23.7 0.93 0.47 22 0.024 0.04

incl 567.0 612.0 45.0 0.72 0.45 17 0.004 0.03

incl 660.3 690.9 30.7 0.72 0.43 8 0.030 0.01

PR25-04 16.6 99.0 82.4 0.56 0.08 15 0.032 0.07

incl 63.0 99.0 36.0 0.79 0.12 26 0.031 0.12

138.0 172.0 34.0 0.44 0.07 11 0.012 0.11

259.0 663.9 404.9 0.52 0.16 9 0.032 0.03

incl 270.0 311.7 41.7 0.60 0.16 24 0.014 0.04

incl 341.7 663.9 322.2 0.55 0.18 8 0.036 0.03

and 341.7 378.0 36.3 0.64 0.21 21 0.017 0.05

and 341.7 347.6 5.9 2.21 0.51 104 0.015 0.23

and 393.0 480.0 87.0 0.70 0.26 13 0.033 0.06

and 534.0 546.0 12.0 1.75 0.29 44 0.119 0.14

PR25-05 225.0 671.1 446.1 0.51 0.18 5 0.037 0.03

incl 323.0 660.0 337.0 0.60 0.23 6 0.042 0.03

and 414.0 671.1 257.1 0.69 0.29 8 0.044 0.02

and 414.0 561.0 147.0 0.85 0.33 8 0.062 0.03

and 609.0 660.0 51.0 0.71 0.43 14 0.016 0.02

PR25-06B 240.0 420.0 180.0 0.42 0.17 8 0.016 0.04

incl 240.0 279.0 39.0 0.89 0.34 26 0.014 0.10

480.0 643.0 163.0 0.37 0.06 2 0.045 0.01

A. See Figure 1 and Figure 2 for drill hole location plan. See footnotes to Table 1, 2 and 3 below.

B. PR25-06 was wedged from PR23-02 and commenced coring at 240 meters downhole.

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Selected Historical Prodigy “Eye” Assay ResultsA

TABLE 2

Drill Hole

Number

Incl. From

(m)

Int.1,2,3

(m)

AuEQ4

(g/t)

(%)

BD-11-69 35.0 54.2 19.2 1.32 0.25 72 0.012 0.08

incl 49.3 51.0 1.7 11.11 1.35 711 0.003 0.73

134.1 205.2 71.1 3.07 0.35 185 0.025 0.22

incl 136.1 185.3 49.2 4.20 0.48 264 0.011 0.30

and 142.5 148.8 6.3 22.06 1.94 1484 0.011 1.34

and 180.0 183.3 3.3 13.56 0.60 921 0.007 1.17

329.1 404.5 75.4 0.97 0.10 1 0.136 0.02

445.8 450.8 5.0 1.24 0.75 16 0.041 0.03

BD-11-70 47.4 55.2 7.8 0.59 0.03 9 0.016 0.25

114.5 399.7 285.2 0.51 0.02 4 0.053 0.09

incl 173.8 338.5 164.7 0.49 0.02 4 0.043 0.11

and 195.5 196.1 0.6 5.25 0.48 202 0.012 1.57

BDQ-08-02 21.0 81.0 60.0 0.42 0.07 9 0.024 0.07

197.0 403.0 206.0 0.96 0.10 46 0.035 0.07

incl 197.0 213.0 16.0 8.48 1.09 551 0.023 0.37

and 203.0 209.0 6.0 20.46 2.62 1350 0.018 0.86

BDQ-08-03 9.0 352.7 343.7 0.54 0.13 13 0.030 0.06

incl 9.0 167.0 158.0 0.67 0.11 25 0.022 0.08

and 67.0 167.0 100.0 0.80 0.16 35 0.021 0.07

and 67.0 117.0 50.0 1.09 0.22 50 0.019 0.10

and 79.0 101.0 22.0 1.86 0.34 95 0.016 0.19

BDQ-08-04 293.0 551.3 258.3 0.81 0.43 13 0.026 0.04

incl 373.0 497.0 124.0 1.16 0.64 19 0.038 0.05

and 373.0 463.0 90.0 1.30 0.71 23 0.037 0.06

BDQ-08-05 119.0 223.0 104.0 0.47 0.17 13 0.014 0.04

incl 141.0 223.0 82.0 0.52 0.20 15 0.015 0.03

275.0 325.0 50.0 0.59 0.30 15 0.012 0.04

A. Historical drill hole assay results at Prodigy drilled by a previous operator between 2007 and 2011. See

Figure 1 and Figure 2 for drill hole location plan. See footnotes to Table 1, 2 and 3 below.

Historical Porphyry Drill Hole ResultsA

TABLE 3

Drill Hole

Number

Incl. From

(m)

Int.

1,2,3

(m)

(g/t)

(%)

BD-07-02 158.0 300.8 142.8 0.01 2 0.057 0.05

BD-07-06 158.5 275.2 116.7 0.01 1 0.040 0.04

BD-11-68 41.2 353.1 311.9 N/A 2 0.067 0.07

BD-11-68 incl. 100.1 317.4 217.3 N/A 2 0.072 0.08

BDQ-08-01 6.1 425.0 418.9 0.01 1 0.046 0.04

BDQ-08-01 incl. 287.0 353.0 66.0 0.01 3 0.090 0.07

A. Historical drill hole assay results from four holes drilled east and distinct from the Prodigy precious metal s

system. See footnotes to Tables 1, 2 and 3 below. N/A means not assayed for Au.

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Footnotes to Tables 1, 2 and 3.

1) Width reported are drill widths, such that true thicknesses are unknown.

2) All assay intervals represent length -weighted averages.

3) Some figures may not sum exactly due to rounding.

4) Gold equivalent (AuEQ) calculations use metal prices of: Au US$1,800.00/oz, A g US$22.00/oz, Mo US$17.00/lb and Cu

US$4.00/lb. and conceptual recoveries of: Au 80%, Ag 80%, Mo 75%, and Cu 75%. Conversion of metals to an equivalent

gold grade based on these metal prices is relative to the gold price per unit mass factored by conceptu al recoveries for

those metals normalized to the conceptualized gold recovery. The metal equivalencies for each metal are added to the

gold grade. The general formula is: AuEQ g/t NMV = (Au g/t) + (Ag recovery / Au recovery) * (Ag $ per oz. / Au $ per oz . *

Ag g/t)) + ((Mo recovery / Au recovery) * (Mo % * Mo $ per lb. * 22.0462) / (Au $ per oz. / 31.10348)) + (Cu recovery / Au

recovery) * (Cu % * Cu $ per lb. * 22.0462) / (Au $ per oz. / 31.10348)) .

Figure 1: Magnetic Plan Map of Portion of Maestro Property Showing Magnetic Low Prodigy “Eye”

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Figure 2: Prodigy “Eye” Drill Hole Plan Map

The combined Prodigy drill hole intercepts show characteristics of a polymetallic gold silver-epithermal deposit

consistent with intermediate-sulphidation epithermal deposit models.

An example of this kind of deposit is the Blackwater Gold Mine owned by third party Artemis Gold Inc., which that

company recently permitted and put into production . At Blackwater Mine, the base case cut -off grade within the

reasonable prospects of an eventual economic extraction conceptual pit is 0.20 g/t Au EQ. The Blackwater Base Case

Mineral Resource Estimate on May 5, 2020 was:

Measured and Indicated ResourcesA,B

Cut-off Tonnage In-Situ Grades In-Situ Contained Metal

(g/t AuEQ) (Mt) AuEQ g/t Au g/t Ag g/t AuEQ (koz) Au (koz) Ag (koz)

0.20 597 0.65 0.61 6.4 12,406 11,672 122,381

A. Bird, S, et al (2024) Blackwater Gold Mine, British Columbia, NI 43 -101 Technical Report on 2024 Expansion Study prepared for:

Artemis Gold Inc., effective date: 21 February, 2024 available at https://www.artemisgoldinc.com/blackwater-project/blackwater-

gold-project/technical-reports/ . The Mineral Resource has been conﬁned by a conceptual pit shell to meet “reasonable prospects

of eventual economic extraction” using the following assumptions: the 143% price case with a Base Case of US$1,400/oz Au and

US$15/oz Ag at a currency exchange rate of 0.75 US$ per C$; 99.9% payable Au; 95.0% payable Ag; US$8.50/oz Au and US$0.25/oz

Ag offsite costs (reﬁning, transport, and insurance); a 1.5% NSR royalty; and uses a 93% metallurgical recovery for gold and 55%

recovery for silver. The AuEq values were calculated using US$1,400/oz Au, US$15/oz Ag, a gold metallurgical recovery of 93%,

silver metallurgical recovery of 55%, and mining smelter terms for the following equation: AuEq = Au g/t + (Ag g/t x 0.006).

B. The Qualiﬁed Person has been unable to verify this Resource Estimate, and this information is not necessarily indicative of

mineralization on the Maestro Property.

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Characteristics of BC Epithermal Au-Ag Deposits

• These deposits are characterized by large tonnages that host gold and silver mineralization with grades

conducive to bulk-tonnage mining, internal grade continuity ranges from strong to erratic.

• Many of these deposits have a deﬁnite spatial, temporal and, plausibly, genetic link to large, nearby porphyry

style deposits.

• Variations in the primary permeability of host rocks, commonly augmented by fracture-induced secondary

permeability, strongly influence the distribution and grade of gold and silver mineralization.

• Most deposits contain zones of higher-grade gold mineralization which are commonly related to structures

active during the time of mineralization.

• Gold and silver mineralization can be found within completely pervasive alteration in rock types with high

primary permeability and/or in structural zones.

• Base metal enrichment, particularly of copper but commonly accompanied by other base and trace metals, is

spatially associated with gold and silver mineralization.

• Gold and silver mineralization is precipitated mostly during strong quartz sericite ± carbonate alteration

and is associated with disseminated and vein hosted pyrite. Carbonate minerals are commonly ferruginous

and/or manganiferous.

• Most contain an early stage of potassium-silicate alteration which is largely to completely replaced by

quartz-sericite alteration and associated gold, silver and base metal mineralization.

• Mineralization is spatially, and commonly temporally, related to shallow emplacement of felsic intrusions.

• Gold and silver mineralization occurs in diverse host rocks which include intrusive, volcanic and sedimentary

rock types.

About Quartz

Headquartered in Vancouver, Canada, Quartz Mountain Resources (TSXV:QZM, OTC Pink: QZMRF) is a well- funded public

company whose successful mine-finding management team is focused on discovering and transacting important-scale

gold, silver and copper projects in British Columbia. The Company owns 100 % of the Maestro high grade gold -silver

project and 100 % of the Jake porphyry copper -gold-silver project. Both projects are permitted by the British Columbia

government for drilling activities with access to infrastructure and high potential for the development of substantial

resources for significant future transactions.

Quartz is associated with Hunter Dickinson Inc. (HDI), a company with over 35 years of successfully discovering, developing

and transacting mineral projects in Canada and internationally. Former HDI projects in British Columbia included Mount

Milligan, Kemess South and Gibraltar -- all of which are porphyry-copper±gold deposits with current-producing or former-

producing mines. Recently, Amarc Resources, an HDI associate, with funding from Freeport , announced the exciting

discovery of the exceptionally high grade, AuRORA gold-copper-porphyry deposit also in British Columbia. Other well-

known projects with HDI involvement include Sisson, Duke and Prosperity in Canada, Pebble and Florence in the United

States, and Xietongmen in China.

Quartz is committed to the advancement of important -scale, critical and essential mining assets while following

responsible mineral development principles, including a mandate to employ best-practice approaches in the engagement

and involvement of local communities and meeting rigorous environmental standards.

About Maestro

The Maestro Project, located in central British Columbia, lies adjacent to Highway 16, 15 km north of Houston and 45 km

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south of Smithers, providing year -round road access to the project and nearby infrastructure including, rail,

hydroelectricity, and natural gas. This logistical advantage, near resource supporting centres, positions the Maestro Project

favourably for potential development. Covering 2,309 hectares, it has a rich exploration history dating back to 1914,

primarily focusing on the Lone Pine Mo -Cu porphyry deposit and not the precious metals potential of the surrounding

area (see Quartz news release March 19 th, 2024, and NI 43-101 Technical Report and Preliminary Economic Assessment,

P&E Mining Consultants Inc., January 21st, 2011).

Since acquiring the property , Quartz has conducted comprehensive geochemical and geophysical surveys, including

soil/silt sampling, induced polarization geophysics, airborne magnetic surveys, hyperspectral studies, detailed relogging of

historical drill core and assaying for gold only, 976 pulp samples derived from historical assaying of numerous core holes

located across the Maestro Property. Quartz’s first ever drill test, on its Maestro Property, a maiden Phase One, two-hole

drill program at the Prodigy Zone, discovered exciting high-grade Au-Ag lodes and Ag -Au veins which are both hosted

within an extensive epithermal Au-Ag system. The Au lodes and Ag veins along with the more disseminated precious

metals intersected by the drill holes are all hosted within a large and earlier deposited, Mo-Cu porphyry system. Quartz’s

second core hole, PR-23-02 intersected 102 m grading 2.22 g/t Au and 104 g/t Ag, including 12 m grading 1.23 g/t Au and

586 g/t Ag and also 36 m of 5.73 g/t Au and 87 g/t Ag. These results indicate high potential f or both bulk tonnage and

underground high-grade gold and silver mineralization. Phase Two, delineation type drilling of the new Prodigy discovery

at Maestro, commenced in March 2025. It is expected that drilling at Prodigy will be consistently advanced with multiple

drill program stages during 2025. Mineralization remains open, promising signiﬁcant further potential.

About Jake

The 100% owned Jake Property is located 160 km north of Smithers in north central BC. It is accessible by helicopter and

close to the Minaret airstrip and historical logging roads which lead to mining support towns of Smithers, Fort St. James

and Hazelton.

Mineralization at Jake is situated within a prominent rusty coloured gossan measuring 3.5 km long by 1.5 km wide. The

combination of extensive historical and recent exploration work has outlined a very expansive altered area at Jake hosting

epithermal and porphyry-style sulphide disseminations and veinlets containing Cu-Au-Ag-Zn-Mo and Re. A series of

modern surface exploration programs were first completed by Quartz to build on very compelling historical data on the

Property developed by legendary porphyry copper explorers, including Kennco, Canadian Superior, Cities Service, Placer

Development and Teck Corp. Taken together this comprehensive technical database defined a significant-scale porphyry

copper-gold deposit target which Quartz tested with 3,418 meters of drilling in seven 7 holes during 2024. This maiden

drill program successfully discovered a new porphyry copper -gold-silver system, wide open to expansion. Upon

discovery, Quartz acquired a 100% interest in mineral tenures over an entire new BC porphyry copper -gold district

surrounding the Jake Property. The next milestone towards a transaction will be delineation drilling of the new Jake

discovery, currently being planned to commence after delineation drilling at Maestro.

Quality Assurance/Quality Control Program

Quartz drilled NQ size core in the 2023 and 2025 drilling programs. All drill core was logged, photographed, and cut in half

with a diamond saw. Half core samples from the 2023 Prodigy drilling were sent to ALS Canada Ltd., Langley, B.C., for

preparation and for 2025, half core samples were sent to ALS Canada Ltd., Kamloops, B.C. All samples were analyzed at

ALS Canada Ltd., North Vancouver, B.C. All are ISO/IEC 17025:2017 accredited facilities. At the laboratory, samples were

dried, crushed to 70% passing -2mm, and a 250 g split pulverized to better than 85% passing 7 5 microns. Samples were

analyzed for Au by ﬁre assay fusion of a 30 g sub -sample with an ICP-AES ﬁnish. In 2023, samples were analyzed for 48

elements, and in 2025, for 60 elements. Both multi-element analyses included Ag, Mo, and Cu, and were conducted using

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a four-acid digestion followed by ICP-MS. Overlimits for Ag, Cu, Pb and Zn were analyzed by four-acid digestion and ICP-

AES ﬁnish. For Au overlimits and additional Ag overlimits, a ﬁre assay fusion and gravimetric ﬁnish were completed. As

part of a comprehensive Quality Assurance/Quality Control ("QAQC") program, Quartz Mountain control samples were

inserted in each analytical batch at the following rates in 2023: standards one in 40 regular samples and in-line replicates

one in 40 regular samples. In 2025 standards were inserted at one in 20 regular samples and in -line replicates at one in

20 regular samples. In both 2023 and 2025, at least one coarse blank was inserted per analytical batch. The control

sample results were then checked to ensure proper QAQC procedures.

Qualified Person

Farshad Shirmohammad, M.Sc., P . Geo., a “Qualiﬁed Person” within the meaning of National Instrument 43 -101 –

Standards of Disclosure for Minerals Projects, who is not independent of Quartz Mountain Resources Ltd., has reviewed

and approved the scientiﬁc and technical information contained in this news release.

On behalf of the Board of Directors

Robert Dickinson

Chairman

For further information, please contact:

Bob Dickinson

Email: [email protected] Ph: +1 604-684-6365

or:

Roger Blair

Email: [email protected] Ph: +1 604-351-0025

Jeff Wilson

E Mail: [email protected] Ph: +1 604-837-5440

Prodigy Drill Hole Spatial Data

TABLE 4

Drill Hole Easting Northing Elevation

(m)

Azimuth

(°)

Dip

(°)

Length

(m)

PR23-01 646200 6044300 842 180 -73 633.0

PR23-02 646390 6044175 839 280 -70 812.5

PR25-03 646420 6044170 846 280 -70 759.0

PR25-04 646425 6044200 847 280 -65 753.0

PR25-05 646425 6044230 849 280 -65 821.5

PR25-06 646390 6044175 839 280 -70 921.0

BDQ-08-01 646502 6044219 863 315 -60 425.8

BDQ-08-02 646316 6044284 853 0 -90 531.6

BDQ-08-03 646226 6044301 849 0 -90 481.6

BDQ-08-04 646248 6044200 840 0 -90 551.3

BDQ-08-05 646330 6044170 841 0 -90 486.5

BD-11-68 646360 6044362 858 0 -90 590.4

BD-11-69 646235 6044245 836 0 -90 602.6

BD-11-70 646215 6044349 852 0 -90 470.6

BD-07-02 646408 6044315 853 0 -90 506.4

BD-07-06 646497 6044224 863 0 -90 473.2

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