Quartz Mountain Completes Purchase of BC Mineral Project

QUARTZ MOUNTAIN COMPLETES PURCHASE OF BC MINERAL PROJECT

July 7, 2021 VANCOUVER, BC - Quartz Mountain Resources Ltd. ("Quartz Mountain" or the "Company") (TSX -V:

QZM: OTC PINK:QZMRF) has completed the acquisition transaction announced on June 10, 2021. Under a mineral

claims purchase agreement (the “Agreement”) dated June 8, 2021 between the Company and Impala Capital Corp.

(the “Vendor”), the Company will acquire a 100% interest in nine mineral claims located near Houston, British

Columbia (the “Property”). Under the terms of the Agreement, the Company acquired a 100% interest in the

Property by making $105,000 in cash payments and issuing 1,000,000 shares to the Vendor , which are subject to

a 4 month resale restricted period. The Property is subject to a pre -existing 2.5% net smelter returns royalty held

by an unrelated arm’s length thi rd party, of which 1.5% can be purchased for $1.5 million .

The claims have been the subject of about 4000 m of previous drilling which showed encouraging grades over

significant intervals. The Company will review and compile the previous results in the cou rse of planning a 2022

exploration program and preparing a technical report on the project.

For further details, contact Investor Services at (604) 684 -6365 or within North America at 1 -800-667-2114.

On behalf of the Board of Directors

Leonie Tomlinson

Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for

the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking-statements". All statements in this release, other than statements of historical facts are

forward-looking-statements. These statements include expectations about the likelihood of completing the private placement and share consolidation and the

ability of the Company to secure regulatory acceptance for the private placement and share consolidation. Though the Company believes the expectations

expressed in its forward-looking-statements are based on reasonable assumptions, such statements are subject to future events and third party discretion such as

regulatory personnel. For more information on the Company, and the risks and uncertainties connected with its business, investors should review the Company's home

jurisdiction filings as www.sedar.com .