Author: joverv

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Montreal, October 21, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce the start of a maiden diamond drilling program (up to 1,250 m, 16 holes, HQ core size will be used) to test the down-dip extent of the sill of the discovery outcrop and the presence of potential stacked sills. Assay values from the nine samples from the discovery outcrop range from 1.10% to 3.92% Li₂O.

Drill core samples and also rejects from the grab samples collected in 2023 will be used to carry out preliminary geometallurgical studies (see press release of January 18, 2024). These studies will be performed by Impact Global Solutions based in Delson, Quebec.

“We are very excited to execute this drilling program and test the potential size of our discovery and its extension on our project while investigating the geometallurgical characteristics of the lithium-bearing rocks.” commented Normand Champigny, CEO.

The Ninaaskumuwin lithium prospect is easily accessible from the paved Billy Diamond highway located about 50 km north of the ‘km 381’ rest stop that can provide accommodation, catering, fuel and power. It is also about 40 km north of the Galaxy project, which is being acquired by Rio Tinto plc as part of their recently announced acquisition of Arcadium Lithium plc for USD$6.7 billion (see Rio Tinto’s press release dated October 9, 2024).

QPM acknowledges the close collaboration of Power Nickel Inc. (TSXV: PNPN, OTCBB: PNPNF, Frankfurt: IVV) to secure a nearby drill to carry out the program (see photo below). GeoVector Management Inc., based in Ottawa, has been retained to perform the actual drilling program, which includes core logging and sampling of the drill core. The QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. Drilling will be performed by RJLL Drilling, based in Rouyn-Noranda.

An updated corporate presentation is available on the Corporation’s web site www.qpmcorp.ca 

Private Placement

Furthermore, the Corporation announces a non-brokered private placement of up to 12,500,000 units (the “Units”) at a price of $0.045 per Unit for gross proceeds of up to $562,500 (the “Offering”). Each Unit will be comprised of one common share (each a “Share”) and one half of one common share purchase warrant (each a “Warrant”). Each whole Warrant shall give the holder the right to purchase one common share of the Corporation (a “Warrant Share”) at an exercise price of $0.055 per common share for a period of 18 months following the closing of the Offering.

The Units will be offered by way of the “accredited investor” exemption under National Instrument 45-106 – Prospectus Exemptions in all the provinces of Canada. The Units, Shares, Warrants and Warrant Shares will be subject to a four-month hold period in Canada following the closing of the offering.

In accordance with TSX Venture Exchange policies, the Corporation is relying on a minimum price exception in order to issue securities at less than $0.05 per listed security. As such, the Corporation will not issue more than 100% of its issued and outstanding Shares pursuant to the offering.

The net proceeds from the sale of the Hard Units (“Funds”) will be used for exploration expenditures as well as general corporate and working capital purposes. No more than 10% of Funds are proposed to be paid to management, investor relations, or for a specifically identified purpose.

In connection with the Offering, the Corporation may pay finder’s fees and issue finder warrants to arm’s length finders, consisting of: (i) cash finder’s fees of up to 7 per cent of the gross proceeds of the offering; and (ii) finder warrants in an amount equal to up to 7 per cent of the number of Units issued pursuant to the offering, exercisable at a price of $0.055 per common share for a period of 18 months following the closing date.

Closing is subject to the approval of the TSX Venture Exchange and other customary closing conditions. There can be no assurances that the offering will be completed on the terms set out herein, or at all, or that the proceeds of the offering will be sufficient for the uses of proceeds as set out above.

Qualified Person

Normand Champigny, Eng., Chief Executive Officer of the Company, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

Forward-Looking Statements

This release includes forward-looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.

Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. 

Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control. 

Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. 

Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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Montreal, September 19, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) congratulates Harfang Exploration Inc. “Harfang”) on five (5) high-grade gold discoveries at its Serpent-Radisson property in Eeyou Istchee James Bay, Québec (see Harfang’s press release of September 18, 2024). The discoveries are hosted in quartz veins systems associated with shear zones in underexplored areas. Grab samples returned assay results up to 72.4 g/t Au.

Harfang’s discoveries are located adjacent to QPM’s Sakami project. The discoveries have highlighted a new structural gold trend in a previously underexplored area, expanding the gold footprint and reinforcing the high gold prospectivity of their property and of the area covered by the Sakami project.

“Harfang’s discoveries further reinforce the high gold exploration potential of our potential Sakami project where QPM has been drilling and prospecting since 2018 with the objective of identifying a large mineral resource.” commented Normand Champigny, CEO.

QPM’s gold and lithium exploration initiatives

Sakami (100% owned), gold and lithium

• Drill untested gold targets, at the La Pointe Extension deposit. To date, encouraging results from metallurgical testing, induced polarization survey and drilling programs have been received and indicate the presence of a significant mineral resource including many higher-grade areas;
• Carry out a field inspection in other areas of the project on the priority gold and lithium targets including three high-priority targets that can be drill-ready; and
• Continue close collaboration, exchange of information and camp facility sharing with Harfang Exploration Inc. (see press release of April 3, 2024). This contributed to better understand to the exploration potential while reducing exploration costs.

Elmer East (100% owned), lithium

• Perform, this fall, a diamond drilling program (up to 1,250 m, 16 holes, PQ or HQ core size) to: 1) test the down-dip extent of the sill of the discovery outcrop and the presence of potential stacked sills, and 2) carry out preliminary geometallurgical studies (see photo below and press release of January 18, 2024). Authorization for impact-causing exploration work has been received. In addition, geological mapping is planned in and around the discovery outcrop as well as the collection additional structural measurements. Geometallurgical studies will be performed by Impact Global Solutions based in Delson, Quebec.
• Received financial assistance up to a maximum of $333,306 from the Ministère des Ressources naturelles et des forêts (MRNF). This financial support was granted as part of the fourth call for projects of the Mineral Exploration Support Program for Critical and Strategic Minerals; and
• Congratulated Ophir Metals Corp. on their discovery announced on June 25, 2024, of lithium-bearing pegmatites at Pilipas located approximately 3.7 km northwest and along the trend of QPM’s Ninaaskuwumin spodumene pegmatite discovery outcrop where grab sample showed a range from 1.10% to 3.92% Li₂O.

To date, QPM has exploration claims over a surface area of 697 km² including a 23-km long gold-bearing contact between the La Grande geological sub-province the Opinaca geological sub-province. At Sakami,  29 showings have been discovered with up to 62.92 g/t Au (grab sample), up to 48.93 g/t Au over 1.0 m (channel sample), and up to 120.4 g/t Au over 0.45 m (drillhole) along a 23-km mineralized corridor, and including more than 50,000 m of drilling on two well-defined deposits (La Pointe and La Pointe Extension) with intercepts up to 1.15 g/t Au over 80.1 m including 2.21 g/t Au over 24.85 m.

Upcoming events

XPLOR Convention – October 28-31, 2024, in Montreal, QC
https://xplor.aemq.org/en/ 

Québec Mines + Énergie – November 18-21, 2024 in Quebec City, QC
https://mrnf.gouv.qc.ca/quebec-mines/

An updated corporate presentation is available on the Corporation’s web site www.qpmcorp.ca 

Qualified Person

Normand Champigny, Eng., Chief Executive Officer of the Company, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

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Montreal, August 9, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that an aggregate of 221,165 common shares will be issued in settlement of services of three current directors of the Corporation in an aggregate amount of $19,462.52, as per the shares for services agreements entered with three current directors (the “Shares for Services Arrangement”) (see press release dated June 21, 2024). The services are paid in connection with services rendered by three current directors during the second quarter of the financial year ending January 31, 2025.

The Board of Directors and Management of QPM believes that the Shares for Services Arrangement is in the best interests of QPM as it will help the Corporation preserve its cash position.

The common shares to be issued pursuant to the Shares for Services Arrangement will be issued at a deemed price of $0.088 per share and will be subject to a four-month hold period pursuant to applicable securities regulations and the policies of the TSX Venture Exchange (the “TSXV”).

The Shares for Services Arrangement is considered a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Shares for Services Arrangement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as QPM’s securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and neither the fair market value of the common shares to be issued in the Shares for Services Arrangement nor of the services provided in connection with the debts which are the subject of the Shares for Services Arrangement shall exceed 25% of QPM’s market capitalization. 

Deferred shares units

The Company announces the issuance of 107,955 deferred stock units (the “DSUs”) to the Chief Executive Officer pursuant to its Deferred Share Unit Plan (the “DSU Plan”). This follows the decision that from May 1, 2022, the CEO’s salary compensation will be paid 80% in cash and the other 20% of compensation will be paid in Differed DSUs quarterly. These DSUs represent the portion for the second quarter of 2025. In accordance with the DSU Plan, the DSUs shall vest in accordance with the terms of agreements granting same and one year from the date of such grant, subject to the provisions of TSXV Policy 4.4 and the Company’s security based compensation plan, and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be an employee of the Company.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

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Montreal, July 17, 2024 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that at its annual shareholders’ meeting held on July 16, 2024, shareholders of the Company overwhelmingly approved all the resolutions, as follows:

• Election of Geneviève Ayotte, Normand Champigny, Wanda Cutler, and James Shannon as directors; and,
• Appointment of KPMG LLP as auditors.

Deferred shares units and stock options

The Corporation announces the issuance of 1,145,000 deferred stock units (the “DSUs”) pursuant to its Deferred Share Unit Plan (the “DSU Plan”). Of this number, 1,070,000 DSUs have been granted to its directors and officers, and 75,000 to one employee. In accordance with the DSU Plan, the DSUs shall vest in accordance with the terms of agreements granting same and one year from the date of such grant, subject to the provisions of TSX Venture Exchange (the “TSXV”) Policy 4.4 and the Company’s security-based compensation plan, and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be director, officer or employee of the Company.

The Corporation also announces that it has granted an aggregate of 30,000 stock options (the “Options”) of the Corporation to one consultant. Each Option entitles its holder to purchase one common share of the Company at a price of $0.10 per share. Options granted to the consultant are exercisable for a two-year period and will vest immediately. Options are granted in accordance with Policy 4.4 of the TSXV and the terms and conditions of the QPM’s stock option plan.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

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Montreal, June 27, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) congratulates Ophir Metals Corp. (“Ophir”) on their discovery announced on June 25, 2024, of spodumene pegmatites (lithium) in pegmatite dykes at Pilipas in the Eeyou Istchee James Bay territory in Quebec. Ophir’s discovery is located approximately 3.7 km northwest of its Ninaaskuwumin spodumene pegmatite its 100%-owned Elmer East project on the trend of this discovery (see Figures 1 and 2 below).

At Ninaaskuwumin, QPM reported assay values from the nine samples from the discovery outcrop range from 1.10% to 3.92% Li₂O (see press release of January 18, 2024). Based on the lithium assays and the fractionation level of the pegmatitic material, derived from the pXRF K-Rb ratios for muscovite and K-Feldspar, the surface mineralization has the potential to extend along a NW-SE 3.8 km-long trend. The results for the Ophir’s Pilipas discovery are not necessarily indicative of the mineralization on QPM’s Elmer East project.

“Ophir’s discovery shows that the areas around both discoveries have the potential to host one of the largest spodumene pegmatite resources in the James Bay region. We are planning to sample and drill our Ninaaskuwumin spodumene pegmatite in late summer and early fall and wish Ophir the best of success in making additional lithium discoveries” commented Normand Champigny, CEO.

An updated corporate presentation is available on the Corporation’s web site www.qpmcorp.ca 

Qualified Person

Normand Champigny, Eng., Chief Executive Officer of the Company, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

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Montreal, June 26, 2024 – Quebec Precious Metals Corporation (“QPM” or the “Corporation”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to announce financial assistance up to a maximum of $333,306 from the Ministère des Ressources naturelles et des forêts (MRNF) on its Elmer Est project, in the Northern Quebec Region. 

This financial support was granted as part of the fourth call for projects of the Mineral Exploration Support Program for Critical and Strategic Minerals (MCS).

This program supports companies in the mineral exploration sector in carrying out their projects aimed at developing MCS deposits in Quebec.

“We are very grateful to the MRNF for this assistance which will make it possible to carry out geometallurgical studies aimed at designing an optimal treatment process, optimizing production and developing the lithium mineral resources which will be identified on the Ninaaskumuwin lithium discovery of our project. », commented Normand Champigny, CEO of QPM.

The Ninaaskumuwin lithium prospect is easily accessible from the paved Billy Diamond highway located about 50 km north of the ‘km 381’ rest stop that can provide accommodation, catering, fuel and power. Assay values from the surface from the discovery outcrop yielded values to 3.92% Li₂O. The surface mineralization has the potential to extend along a NW-SE 3.8 km-long trend (see press releases of October 24, November 7 and November 15, 2023, and January 18, 2024).

About Quebec Precious Metals Corporation

QPM is an exploration company with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The company focuses on advancing its Sakami Gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Company holds a 68% interest in the Kipawa/Zeus rare earths project located near Temiscaming, Quebec.

For more information please contact:  

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

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Montreal, June 21, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce the closing of the second and final tranche of a non-brokered private placement offering (the “Placement”), for an amount of $261,560. Under the final tranche, the Corporation raised proceeds of $160,000 from the sale of 3,200,000 units (“Hard Units”) of the Corporation at a price of $0.05 per Hard Unit and proceeds of $101,560 from the sale of 1,154,091 flow-through units (“FT Units”) of the Corporation at a price of $0.088 per FT Unit. Each Hard Unit and each FT Unit issued is comprised of one common share and flow-through share respectively, and one transferable common share purchase warrant of the Corporation (each a “Warrant”). Each Warrant gives the holder thereof the right to purchase one common share during the 36 months following the closing date of the Private Placement at an exercise price of $0.10. In total, taking into consideration the first tranche of the Offering (see press release dated May 31, 2024), the Corporation has issued an aggregate of 6,900,000 Hard Units and an aggregate of 1,154,091 FT Units for aggregate proceeds of $446,560.

The gross proceeds from the issuance of the FT Units will be used to incur Canadian exploration expenses (as such term is defined by the Income Tax Act (Canada) and its provincial equivalent) which, once renounced, will qualify as “flow-through critical mineral mining expenditure” (as such term is defined by the Income Tax Act (Canada)) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2025, and renounced to the subscribers with an effective date no later than December 31, 2024. For a Québec resident subscriber who is an eligible individual under the Taxation Act (Quebec), the Qualifying Expenditures will also constitute (i) expenses for inclusion in the “exploration base relating to certain Québec exploration expenses” within the meaning of section 726.4.10 of the Taxation Act (Quebec), and (ii) expenses for inclusion in the “exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses” within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

The net proceeds from the sale of Units pursuant to the Placement will be used for general corporate and working capital purposes and for exploration expenditures on the Corporation’s projects located in the Province of Québec. 

All securities are subject to a four-month “hold period” commencing on the closing date pursuant to National Instrument 45-102 – Resale of Securities and, in Québec, Regulation 45-102 respecting Resale of Securities, and the certificates or DRS advices representing such securities bear a legend to that effect. The Placement remains subject to the final approval of the TSX Venture Exchange (the “Exchange“).

Insiders of the Company have participated in the Placement and subscribed for an aggregate of 200,000 Hard Units for proceeds of $10,000 and 240,000 FT Units for proceeds of $21,120. Such participation in the Offering is a “related party transaction” as defined in Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”). The Placement is exempt from the formal valuation and minority shareholder approval requirements of Regulation 61-101 as neither the fair market value of the securities issued to insiders nor the consideration for such securities by insiders exceed 25% of the Company’s market capitalization. Each related party that participated in the Placement disclosed their respective interest in the Placement, and the non-interested members of the board of directors considered such participation and recommended to the board of directors to resolve that the Corporation should authorize such participation in the Placement with each concerned related party.

In connection with the Placement, the Corporation paid in respect of certain subscriptions a finders’ fee or commission of $7,000 in compliance with section 1.14 of Policy 4.1 as well as Policy 5.1 of the Exchange. In addition, the finders received 140,000 non-transferable compensation warrants, with each such warrant being exercisable at a price of $0.10 per common share of the Company for a period of 36 months from the closing of the Placement.

Correction to news release of May 31, 2024

In connection with the first tranche of the Placement closed on May 31, 2024, the Corporation announced that it had paid in respect of certain subscriptions a finders’ fee or commission of $1,750. In addition, the Corporation announced that it had issued 35,000 non-transferable compensation warrants, with each such warrant being exercisable at a price of $0.10 per common share of the Company for a period of 36 months from the closing of the Placement. The Corporation wishes to correct the above disclosure and confirms that it paid in respect of certain subscriptions a finders’ fee or commission of $5,600 and that the number of non-transferable compensation warrants issued on May 31, 2024 was 112,000.

Shares for Services Agreements

The Corporation announces that it has entered into shares for services agreements with three current directors of the Corporation, namely James Shannon, Geneviève Ayotte and Wanda Cutler, pursuant to which the Corporation shall issue common shares in the capital of the Corporation (each a “Common Share”) in consideration for services, such as strategic guidance, financial oversight and governance, to be rendered by such directors (the “Shares for Services Arrangement”). The Board of Directors and Management of QPM believes that the Shares for Services Arrangement is in the best interests of QPM as it will help the Corporation preserve its cash position.

Pursuant to the Shares for Services Arrangement, the parties have agreed that ninety percent (90%) of the quarterly compensation payable to such directors, being an aggregate amount of $19,462.50 per quarter, shall be payable in Common Shares to be issued on a quarterly basis. The Common Shares to be issued pursuant to the Shares for Services Arrangement will be issued at a deemed price not lower than the closing price of Common Shares on the facilities of the Exchange on the day immediately preceding the issuance of such of the Common Shares on the Exchange on the day before a news release is issued announcing issuance of Common Shares pursuant to the Shares for Services Arrangement and will be subject to a four-month hold period pursuant to applicable securities regulations and the policies of the Exchange. The Shares for Services Arrangement will continue to be in effect until any party is no longer a Director, at which time the agreement will terminate.

The Shares for Services Arrangement is considered a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions
(“MI 61-101”). The Shares for Services Arrangement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as QPM’s securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and neither the fair market value of the common shares to be issued in the Shares for Services Arrangement nor of the services provided in connection with the debts which are the subject of the Shares for Services Arrangement shall exceed 25% of QPM’s market capitalization. Each director of QPM that is a party to the Shares for Services Arrangement disclosed their respective interest in the transactions, and the sole non-interested member of the board of directors considered the terms of the Shares for Services Arrangement and recommended to the board of directors to resolve that the Corporation should enter into the Shares for Services Arrangement with each concerned director as the Shares for Services Arrangement is in the best interests of QPM. 

The Shares for Services Arrangement is subject to regulatory approval, including that of the Exchange.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Cautionary Statements Regarding Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation. Statements with respect to final approval of the Exchange and the Corporation’s expected work programs in 2024 are forward looking statements. Forward-looking statements are based on certain key expectations and assumptions made by the management of the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are subject to risks, including but not limited to the risks that market conditions, commodity prices, or other circumstances can affect the Corporation, the ability of the Corporation to raise further financing, as well as other risks with respect to the Corporation described in the Corporation’s public disclosure filed on SEDAR+ at www.sedarplus.ca.. Forward-looking statements contained in this press release are made as of the date of this press release. The Corporation disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

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Montreal, May 31, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce the closing of the first tranche of a non-brokered private placement offering (the “Placement”), for an amount of $185,000. The Placement consists of 3,700,000 units (“Hard Units”) of the Corporation at a price of $0.05 per Hard Unit. Each Hard Unit issued is comprised of one common share and one transferable common share purchase warrant of the Corporation (a “Warrant”). Each Warrant gives the holder thereof the right to purchase one common share during the 36 months following the closing date of the Private Placement at an exercise price of $0.10. 

“We thank our existing and new shareholders for supporting us to fund the further exploration of our lithium and gold projects in the James Bay region as well as the continued social acceptability initiatives at our rare earths project near Kipawa, Quebec. This financing is deliberately small to minimize dilution to our shareholders, while continuing exploration.” commented Normand Champigny, CEO of QPM.

The net proceeds from the sale of the Placement will be used for general corporate and working capital purposes and for exploration expenditures on the Corporation’s projects located in the Province of Québec. 

The Hard Units are subject to a four-month “hold period” commencing on the closing date pursuant to National Instrument 45-102 – Resale of Securities and, in Québec, Regulation 45-102 respecting Resale of Securities, and the certificates or DRS advices representing such securities bear a legend to that effect. The Placement remains subject to the final approval of the TSX Venture Exchange (the “Exchange“).

In connection with the Offering, the Corporation paid in respect of certain subscriptions a finders’

fee or commission of $ 1,750 in compliance with section 1.14 of Policy 4.1 as well as Policy 5.1 of the Exchange. In addition, the finders received 35,000 non-transferable compensation warrants, with each such warrant being exercisable at a price of $0.10 per common share of the Company for a period of 36 months from the closing of the Placement. 

Flow-through financing

The Corporation also announces a non-brokered private placement of up to 3,000,000 flow-through units (“FT Units”) of the Corporation at a price of $0.088 per FT Unit. Each FT Unit issued is comprised of one flow-through share and one transferable common share purchase warrant of the Corporation (a “Warrant”). Each Warrant gives the holder thereof the right to purchase one common share during the 36 months following the closing date of the Private Placement at an exercise price of $0.10. The FT Units are issued in the context of a structured flow-through share arrangement.

The gross proceeds from the issuance of the FT Units will be used to incur Canadian exploration expenses (as such term is defined by the Income Tax Act (Canada) and its provincial equivalent) which, once renounced, will qualify as “flow-through critical mineral mining expenditure” (as such term is defined by the Income Tax Act (Canada)) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2025, and renounced to the subscribers with an effective date no later than December 31, 2024. For a Québec resident subscriber who is an eligible individual under the Taxation Act (Quebec), the Qualifying Expenditures will also constitute (i) expenses for inclusion in the “exploration base relating to certain Québec exploration expenses” within the meaning of section 726.4.10 of the Taxation Act (Quebec), and (ii) expenses for inclusion in the “exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses” within the meaning of section 726.4.17.2 of the Taxation Act (Quebec).

QPM’s updated investor presentation and website can be found on www.qpmcorp.com 

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

Cautionary Statements Regarding Forward-Looking Information

This press release may include forward-looking information within the meaning of Canadian securities legislation. Statements with respect to final approval of the Exchange and the Corporation’s expected work programs in 2024 are forward looking statements. Forward-looking statements are based on certain key expectations and assumptions made by the management of the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are subject to risks, including but not limited to the risks that market conditions, commodity prices, or other circumstances can affect the Corporation, the ability of the Corporation to raise further financing, as well as other risks with respect to the Corporation described in the Corporation’s public disclosure filed on SEDAR+ at www.sedarplus.ca.. Forward-looking statements contained in this press release are made as of the date of this press release. The Corporation disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

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Montreal, May 28, 2024 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that it has entered into agreements to issue an aggregate of 457,942 common shares in settlement of debts of three current directors of the Corporation in an aggregate amount of $38,925.08 (the “Debt Settlement”). The Debt Settlement is paid in connection with services rendered by the current directors during the fourth quarter of the financial year ending January 31, 2024 and the first quarter of the financial year ending January 31, 2025.

The Board of Directors and Management of QPM believe that the Debt Settlement is in the best interests of QPM as it will help the Corporation preserve its cash position. The common shares to be issued pursuant to the Debt Settlement will be issued at a deemed price of $0.085 per share and will be subject to a four-month hold period pursuant to applicable securities regulations and the policies of the TSX Venture Exchange (the “TSXV”).

The Debt Settlement is considered a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Debt Settlement will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as QPM’s securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and neither the fair market value of the common shares to be issued in the Debt Settlement nor of the services provided in connection with the debts which are the subject of the Debt Settlement exceeds 25% of QPM’s market capitalization.

The Debt Settlement is subject to regulatory approval, including that of the TSXV.

Deferred shares units

The Company announces the issuance of 223,530 deferred stock units (the “DSUs”) to the Chief Executive Officer pursuant to its Deferred Share Unit Plan (the “DSU Plan”). This follows the decision that from May 1, 2022, the CEO’s salary compensation will be paid 80% in cash and the other 20% of compensation will be paid in Differed DSUs quarterly. These DSUs represent the portion for the fourth quarter of 2024 and the first quarter of 2025. In accordance with the DSU Plan, the DSUs shall vest in accordance with the terms of agreements granting same and one year from the date of such grant, subject to the provisions of TSXV Policy 4.4 and the Company’s security based compensation plan, and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be an employee of the Company.

About Quebec Precious Metals Corporation

QPM is an exploration company with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The company focuses on advancing its Sakami Gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Company holds a 68% interest in the Kipawa/Zeus rare earths project located near Temiscaming, Quebec.

For more information please contact: 

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

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Montreal, April 3, 2024 – Quebec Precious Metals Corporation (“QPM”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) and Harfang Exploration Inc. (“Harfang”) (TSX.V: HAR) are pleased to announce the results of a joint targeting study (the “Study”) conducted on the adjacent and wholly-owned Sakami and Serpent-Radisson projects (the “Projects”) (see Figure 1). The Projects demonstrate significant potential for high-grade gold and more recently for lithium (see QPM’s press releases dated September 20, 2023, and February 29, 2024, and Harfang’s press releases dated October 5, 2022, September 13 and December 6, 2023).

The Study was designed to identify additional gold and lithium drill targets on the western portion of the Sakami project and on the eastern portion of the Serpent-Radisson project. The close collaboration between the two companies resulted in:

• The identification of 12 priority gold and lithium targets including 3 high-priority targets that can be drill-ready following a field inspection later this year (see Figure 2); and,
• An improved geological understanding and confirmation of the structural and lithological controls on gold and lithium mineralization.  

Normand Champigny, QPM’s Chief Executive Officer, stated: “The collaboration with Harfang has been very beneficial to demonstrate the stronger exploration potential for both gold and lithium at our respective projects. We look forward to the follow-up in the field, drill the best targets and continue our collaboration with Harfang.”

“These types of collaborations are exactly what this industry needs more of,” Rick Breger, Harfang’s President & Chief Executive Officer, stated. “Not only were we able to more efficiently deploy our capital by pooling and sharing resources, but we also now have a much better technical understanding of our respective projects. Afterall, the geology does not change on the other side of the claim boundary.”

Using both company and publicly available data, the Study generated a comprehensive geological and structural lineament map of the Sakami-Serpent-Radisson area. Highlights of the Study are as follows:

• Mafic to ultramafic slivers extend to the SW along shears in the Sakami project area, deflecting to the WSW along splays in the Serpent-Radisson project area;
• Mafic gabbroic dyke swarms that were previously unrecognized occur within tonalitic gneiss and felsic intrusions at Sakami. Additional gabbroic material occurs at the Serpent project, mainly along interpreted structures;
• Several untested pegmatites, potentially lithium-bearing bodies, are present; and,
• Anastomosed shear zones are present with reverse movement and/or primarily sinistral-strike slip component, in a Riedel-like system associated to a N-S compression.

Both projects exhibit the presence of high-grade gold:

• Sakami: the discovery of 29 showings with up to 62.92 g/t Au (grab sample), up to 48.93 g/t Au over 1.0 m (channel sample), and up to 120.4 g/t Au over 0.45 m (drillhole) along a 23-km mineralized corridor, and including more than 50,000 m of drilling on two well-defined deposits (La Pointe and La Pointe Extension) with intercepts up to 1.15 g/t Au over 80.1 m including 2.21 g/t Au over 24.85 m.
• Serpent-Radisson: the discovery of more than 50 showings with up to 340 g/t Au (grab sample),
  up to 7.78 g/t Au over 6.15 m (channel sample), and up to 2.52 g/t Au over 19.65 m and
  1.64 g/t Au over 22.40 m (drillhole) along an interpreted 20-km long mineralized corridor.

Both projects exhibit lithium potential: 

• Sakami: several interpreted pegmatite bodies to be field-tested to determine their potential to contain lithium.
• Serpent-Radisson: the discovery of spodumene and tantalite showings in the eastern part of the project with up to 4.56% Li₂O (grab sample) over a favourable zone that is greater than 15 km². 

The Study was performed by ALS GoldSpot Discoveries Ltd. with the assistance of GeoVector Management Inc. and under the guidance of QPM and Harfang.

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of QPM, and Ludovic Bigot, geo., VP Exploration of Harfang, are both qualified persons within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. They have reviewed and approved the technical information contained in this press release.

About Quebec Precious Metals Corporation

QPM is an exploration company with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. The company focuses on advancing its Sakami Gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Company holds a 68% interest in the Kipawa/Zeus rare earths project located near Temiscaming, Quebec.

About Harfang Exploration Inc.

Harfang Exploration Inc. is a well-financed technically driven mineral exploration company with the primary mission to discover ore deposits in Quebec and Ontario. The Company is managed by an experienced team of industry professionals with a proven track record of success, controls a portfolio of highly prospective projects and has a strong financial position. Harfang is dedicated to best practices through engagement with all stakeholders and commitment to the environment.

For more information please contact:  

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Rick Breger, P.Geo.
President and CEO
rbreger@harfangexploration.com 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release includes forward-looking statements. Often, but not always, forward-looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production output.

Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources or reserves, political and social risks, changes to the regulatory framework within which the entity operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. 

Forward-looking statements are based on the entity and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect business and operations in the future. There are no assurances that the assumptions on which forward-looking statements are based will prove to be correct, or that the business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity or management or beyond the entity’s control. 

Although there have been attempts to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward-looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be anticipated, estimated or intended, and many events are beyond the reasonable control of the entity. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. 

Forward-looking statements in this release are given as at the date of issue only. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the entity does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.