Author: joverv

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• High priority target areas totalling 125 km² identified with pegmatite rocks on all projects;
• Follow-up field program in September to sample pegmatites 
• Increased exposure to lithium through existing ownership of 12 million shares of Champion Electric Metals Inc.

Montreal, August 22, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce that high priority lithium targets have been identified following a detailed lithium targeting study (the “Study”) on all of its exploration projects (1,298 claims covering 676 km², 100% owned) performed by ALS GoldSpot Discoveries Ltd. (“ALS GoldSpot”), located in the Eeyou Istchee James Bay territory in Quebec. Figure 1 illustrates QPM’s land position and the location of high priority targets for the three projects based on the findings of the Study.

“We are very excited to sample the target areas to further demonstrate the lithium potential of our projects in a district that has some of the largest spodumene pegmatite resources in the world. All our projects are highly prospective for lithium and are located near advanced projects and recent significant lithium discoveries” commented Normand Champigny, CEO.

The Study began in the spring (see press release of March 27, 2023). Target generation was undertaken by an exhaustive compilation, extraction and integration of geochemical, geophysical and geological data using geoscience expertise coupled with ALS GoldSpot’s proprietary data analytics workflows. The high priority targets were generated using a total of 52,289 rock samples and 8,278 sediment (soil and till) samples. The data compilation stems from over 150 technical reports using artificial intelligence to query relevant geochemical and geological signatures of lithium bearing formations. The analysis resulted in the generation of detailed maps showing targets, zones and areas of focus for further exploration. The Study is being supplemented by the acquisition and analysis of high resolution imagery and topography.

Sakami project (281 claims, 143 km², 16 km² high priority) and Elmer East project (889 claims, 467 km², 45 km² high priority) – The Sakami project is hosted within a volcano-sedimentary sequence of the Yasinski Group, which is metamorphosed to amphibolite facies and is strongly deformed by a regional west-southwest to east-northeast event in contact with sedimentary rocks of the Laguiche Group (Opinaca geological Subprovince) to the east (Figure 3).  The Elmer East project consists of different parts of the Eastmain volcano-sedimentary belt. Two of the Elmer East claim blocks are located on the eastern edge of the Duxbury batholith and are composed of the Bernou and Pilipas formations (Figure 2).

For both projects, key mineral indicators and rock geochemistry highlight Li-Cs-Ta pegmatite anomalies and a favorable distinct felsic intrusion trend. Major ductile structures bordering volcanosedimentary domains control the distribution of Li-Cs-Ta mineralization. Li-Cs-Ta indicators are associated with known lithium deposits in the region. Small felsic intrusions proximal to the structures are also of interest. It is to be noted that for the Sakami project the lithium targets identified have sometimes overlapping potential for the discovery of both lithium-bearing pegmatites and gold mineralization. Approximately 10 km southwest of the Elmer East project, Brunswick Exploration Inc. recently disclosed lithium discovered through inaugural drilling at their Anatacau West project.

Cheechoo-Eleonore Trend project (128 claims, 66 km², 64 km² high priority) – Two main lithologic assemblages, are present: metasediments of the Laguiche complex and intrusive rocks associated with the granitic suite of the Vieux Comptoir. The latter is essentially formed of a series of granitic intrusions more or less rich in alkaline feldspar and generally poor in mafic minerals. Spodumene and K-feldspar granites have been observed. The abundance of pegmatites and geochemical anomalies suggest a strong lithium potential (Figure 4).

Follow-up field program

The access and travel restrictions imposed by the Government of Quebec in response to the unprecedented forest fire situation persisting since early June remain in place across a significant part of the region. The Company will be mobilizing in September field personnel to visit the high priority target areas and conduct surface sampling. Results are expected in the fall. All pegmatite samples will be assayed with the analytical method ME-MS89L (+ME-MS81D for Al, Zr and Sc).

Increased exposure to lithium

In addition to the lithium targets identified on its own projects, QPM owns 12 million shares of Champion Electric Metals Inc. (“Champion Electric”). These shares are currently valued at approximately $1.4 M and were received following the acquisition by Champion Electric in 2022 of the Blanche and Charles project located near Patriot Battery Metals’ lithium discovery on its Corvette project. Champion Electric controls 1,036 claims covering 529 km² in the lithium-rich James Bay region and is currently carrying out an extensive surface exploration program.

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 ALS GoldSpot

ALS GoldSpot is a Canada-based group of expert geoscientists and data scientists who utilize computational methods (such as Data Analytics, Machine Learning, and numerical modelling) to assist mining and exploration clients. ALS GoldSpot offers unique processes to focus exploration efforts, minimize client risk related to exploration targeting, and optimize aspects of conventional resource exploration workflows. Its diverse geoscience and data science technical teams combine proprietary technology with in-depth expertise in mineral exploration, mineral resources, and mining to offer robust and actionable solutions to its clients and partners. While mineral exploration and mining have become data-rich environments, the value of data is lost when datasets become so large that they cannot effectively be integrated into decision making. Its expertise and solutions target such big data problems, processing or integrating underutilized data to better comprehend resource property potential.

About Quebec Precious Metals Corporation

QPM is primarily focused on advancing its Sakami gold project, located in Eeyou Istchee James Bay territory in Quebec, near Newmont Corporation’s Eleonore gold mine. In addition the Company holds a 68% interest in the Kipawa/Zeus rare earths project located near Temiscaming, Quebec. This is the only rare earths project in North America which has a fully completed feasibility study.

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, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, OTC-BB: CJCFF, FSE: YXEP) (“QPM” or the “Company”) announces that it has granted an aggregate of 2,400,000 stock options (the “Options”) of the Company. Of this number, 2,300,000 Options have been granted to its directors and officers, and 100,000 to one employee.

For the directors, officers and one employee, each Option entitles its holder to purchase one common share of the Company at a price of $0.10 per share for a five-year period. The Options vest as follows: one-third on the date of grant, one-third on the first anniversary of the date of grant, and one-third at the second anniversary of the date of grant. Options granted to the consultants are exercisable for a two-year period and will vest immediately. Options are granted in accordance with Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company’s stock option plan.

Deferred shares units

The Company announces the issuance of 1,035,000 deferred stock units (the “DSUs”) pursuant to its Deferred Share Unit Plan (the “DSU Plan”). Of this number, 960,000 DSUs have been granted to its directors and officers, and 75,000 to one employee.

The Company also announces the issuance of 111,765 DSUs to the Chief Executive Officer pursuant to its 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 DSUs quarterly. These DSUs represent the portion for the second quarter of 2024.

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.

Shares in Payment of Debts

The Company announces that it has entered into agreements to issue an aggregate of 230,380 common shares in settlement of debts of three current directors and one former of the Corporation in an aggregate amount of $19,582.30 (the “Debt Settlement”). The Debt Settlement is paid in connection with services rendered by the directors during the second quarter of the financial year ending January 31, 2024.

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 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.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

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) has reviewed or accepted responsibility for the adequacy or accuracy of this press release

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Montreal, July 28, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce that, in connection with its previously announced non-brokered private placement offering (the “Offering”), the Corporation closed the second tranche of the Offering for an amount of $ 594,000. The second tranche consists of 3,712,500 charity flow-through common shares (the “CFT Shares”) at a price of $0.16 per CFT Share. A total of 2,200,000 Common Shares were acquired by Société de développement de la Baie-James in the context of the structured charity flow-through share financing.

In total, including the first tranche which closed on July 12, 2023 and the second tranche of the Offering, the Company has issued 10,866,873 common shares for gross proceeds of $1,378,575.06

“The completion of this financing allows us to focus on our 2023 exploration program in James Bay: drilling for gold at Sakami and perform field follow-up on the best targets identified from the lithium potential study that is being finalized by ALS GoldSpot”, commented Normand Champigny, CEO.

The net proceeds received by the Corporation from the sale of the CFT Shares will be used for exploration expenditures on the Corporation’s projects located in the Province of Québec. More specifically, the gross proceeds from the issuance of the CFT Shares will be used for Canadian exploration expenses (as such term is defined by the Income Tax Act (Canada)) which, once renounced, will qualify as “flow-through critical mineral mining expenditure”, as defined in subsection 127(9) of the Income Tax Act (Canada) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2024 and renounced to the subscribers with an effective date no later than December 31, 2023. For a Québec resident subscriber who is an eligible individual under the Taxation Act (Quebec), which qualifies (i) as an expense 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) as an expense 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 CFT Shares are subject to a four-month “hold period” commencing on the closing sate 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 Offering remains subject to the final approval of the TSX Venture Exchange.

Annual shareholders meeting

The Corporation also announces that at its Annual shareholders meeting (the “Meeting”) held on July 18, 2022, 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.

Ms. Ayotte is a new member to QPM’s Board of directors (the “Board”) and has been appointed as Chair of the Audit and Risk Management Committee. She is a CPA and currently holds the position of Chief Financial Officer of Arianne Phosphate Inc. and is also a director of Kintavar Exploration Inc. Outside of Ms. Ayotte’s accounting profession, she also serves as President of Women in Mining- Montreal. Since 2008, Ms. Ayotte developed extensive mining knowledge, specifically in public accounting at PricewaterhouseCoopers LLP. Ms. Ayotte is a member of the Certified Professional Accountants of Quebec and graduated from HEC Montréal with a Bachelor’s in Business Management and a D.E.S.S in public accounting (2008).

“On behalf of QPM, I would like thank Julie Robertson for her outstanding contribution during her term as a Board member and Chair of the Audit and Risk Management Committee, We will miss Julie’s advice and guidance and are very indebted for all her efforts”, commented Normand Champigny, CEO.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

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 2023 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, as well as other risks with respect to the Corporation described in the Corporation’s public disclosure filed on SEDAR at www.sedar.com . 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, July 12, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce that, in connection with its previously announced non-brokered private placement offering (the “Offering”), the Corporation closed a first tranche of the Offering for an amount of $ 784,575.06. The Offering consists of 4,439,706 common shares (the “Hard Shares”) at a price of $0.085 per Hard Share, and 2,714,667 flow-through common shares (the “FT Shares”) at a price of $0.15 per FT Share.

The previously announced charity flow-through common shares component of the Offering will be closing at a subsequent time, but no later than July 18, 2023. The Company issued a total of 1,764,706 Hard Shares to CDPQ Sodémex Inc.

Insiders of the Corporation have subscribed in the Offering for a total of 228,000 FT Shares and 250,000 Hard Shares on the Offering which “related parties’ transactions” within the meaning of Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (“Regulation 61-101”) and TSX Venture Exchange (the “Exchange”) Policy 5.9 – Protection of Minority Security Holders in Special Transactions. However, the directors of the Corporation who voted in favour of the Offering have determined that the exemptions from formal valuation and minority approval requirements provided for respectively under subsections 5.5(a) and 5.7(1)(a) of Regulation 61-101 can be relied on as neither the fair market value of the FT Shares and Hard Shares issued to insiders, nor the fair market value of the consideration paid exceed 25% of the Corporation’s market capitalization. None of the Corporation’s directors have expressed any contrary views or disagreements with respect to the foregoing. A material change report in respect of this related party transaction will be filed by the Corporation but could not be filed earlier than 21 days prior to the closing because the terms of the participation of each of the non-related parties and the related party in the Offering were not confirmed.

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

More specifically, the gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses (as such term is defined by the Income Tax Act (Canada)) which, once renounced, will qualify as “flow-through critical mineral mining expenditure”, as defined in subsection 127(9) of the Income Tax Act (Canada) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2024 and renounced to the subscribers with an effective date no later than December 31, 2023. For a Québec resident subscriber who is an eligible individual under the Taxation Act (Quebec), which qualifies (i) as an expense 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) as an expense 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 Hard Shares and FT Shares are subject to a four-month “hold period” commencing on the closing sate 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 Offering remains subject to the final approval of the Exchange.

In connection with the Offering, the Corporation paid in respect of certain subscriptions a finders’ fee or commission of $ 6,275 in compliance with section 1.14 of Policy 4.1 as well as Policy 5.1 of the Exchange.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

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 2023 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, as well as other risks with respect to the Corporation described in the Corporation’s public disclosure filed on SEDAR at www.sedar.com . 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, June 27, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce a non-brokered private placement offering (the “Offering”) of up to 7,050,000 common shares (the “Hard Shares”) at a price of $0.085 per Hard Share, up to 4,000,000 flow-through common shares (the “FT Shares”) at a price of $0.15 per FT Share, and up to 3,712,500 charity flow-through common shares (the “CFT Shares”) at a price of $0.16 per CFT Share.

“We are pleased with the level of support received to date for the Offering, which will allow to fund our 2023 exploration program in James Bay: drilling for gold at Sakami and perform field follow-up on the best targets identified from the lithium potential study that is being finalized by ALS GoldSpot. We are looking forward to very positive news the remainder of 2023. We appreciate the support from our shareholders and look forward to making important discoveries at one of Canada’s leading gold and lithium districts.”, commented Normand Champigny, CEO.

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

The gross proceeds from the issuance of the FT Shares and CFT Shares will be used for Canadian exploration expenses (as such term is defined by the Income Tax Act (Canada)) which, once renounced, will qualify as “flow-through critical mineral mining expenditure”, as defined in subsection 127(9) of the Income Tax Act (Canada) (the “Qualifying Expenditures“), which will be incurred on or before December 31, 2024 and renounced to the subscribers with an effective date no later than December 31, 2023. This applies to a Québec resident subscriber who is an eligible individual under the Taxation Act (Quebec), which qualifies (i) as an expense 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) as an expense 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 Hard Shares, FT Shares and CFT Shares will be subject to a four-month “hold period” commencing on the Closing Date pursuant to National Instrument 45-102 – Resale of Securities and Regulation 45-102 respecting Resale of Securities (Québec) and the certificates or DRS advices representing such securities will bear a legend to that effect. Closing of the Offering is expected on or around July 4, 2023. The Offering remains subject to the final approval of the TSX Venture Exchange (the “Exchange”).

In connection with the Offering, the Corporation may pay in respect of certain subscriptions a finders’ fee or commission paid in compliance with section 1.14 of Policy 4.1 as well as Policy 5.1 of the Exchange.

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

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

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 completion of the private placement financing of the expected size or at all, the expected closing date, obtaining the necessary approvals to complete the financing and the Corporation’s expected work programs in 2023 are forward looking statements. Forward-looking statements are based on certain key expectations and assumptions made by the management of the Corporation, including discussions with investors and other participants in the private placement. 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’s ability to complete the financing, as well as other risks with respect to the Corporation described in the Corporation’s public disclosure filed on SEDAR at www.sedar.com . 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 5, 2023 – 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 162,188 common shares in settlement of debts of three current directors of the Corporation in an aggregate amount of $19,462.56 (the “Debt Settlement”). The Debt Settlement is paid in connection with services rendered by the current directors during the first quarter of the financial year ending January 31, 2024.

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 $0.12 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 79,167 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 first quarter of 2024. 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 a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

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, March 27, 2023 – Quebec Precious Metals Corporation (TSX.V: QPM, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) is pleased to announce that is has entered into a service agreement with ALS GoldSpot Discoveries Ltd. (“ALS GoldSpot”) to perform a detailed lithium targeting study on all its exploration projects (1,338 claims covering 697 km², 100% owned) located in the Eeyou Istchee James Bay territory in Quebec. The territory is highly prospective for its lithium potential and occurrences.

“We look forward to working with ALS GoldSpot to unveil the lithium potential of our projects that are located in one of Quebec’s most prolific lithium belts that already hosts a number of major lithium projects,” commented Normand Champigny, CEO. “The potential for new discoveries in this region is high and we know that pegmatitic rocks have been observed on our projects from previous prospecting and mapping programs. Our goal this year will be to test the lithium potential of these pegmatite occurences. Given the underlying geology of the projects and proximity to other projects we are excited to get started,” Champigny continued.

Pegmatite rocks host many lithium deposits in the region. It is to be noted that QPM’s Elmer East project is located north to northwest of three significant lithium deposits that are being developed (see Figures 1 and 2): James Bay (by Allkem), Rose (by Critical Elements Lithium Corp. (“Critical Elements”) and Whabouchi (Investissement Québec and Livent Corporation).

Target generation will be undertaken by compiling, extracting and synthesizing geochemical and geological data within a predefined area-of-interest using geoscience expertise coupled with GoldSpot’s proprietary data analytics workflows, and Artificial Intelligence and Machine Learning algorithms. Targeting work for gold performed in close collaboration with ALS GoldSpot has led to two recent discoveries by QPM on its Elmer East project: Lloyd and Georgekish (see press releases of September 16, 2020 and September 8, 2021). 

Results are expected in the summer of 2023. The Company intends to undertake lithium-specific exploration programs later in 2023.

ALS GoldSpot recently assisted Critical Elements in the successful application for lithium-tantalum-pegmatite prediction, confirmed by field prospection (see press release of October 27, 2022).

The proximity to projects containing lithium resources offers no assurance that the rock types or lithium resources reported by others extend onto QPM’s projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in this emerging lithium district. The presence of pegmatite does not necessarily indicate that lithium mineralization will be identified on the Company’s projects.

Current exposure to lithium

QPM owns 12 million shares of Idaho Champion (6% of shares outstanding) following the acquisition by Idaho of the Blanche and Charles project located near Patriot Battery Metals’ lithium discovery at Corvette (see Figure 3 and press release dated November 11, 2022). Idaho Champion controls 808 claims covering 412 km² in the lithium-rich James Bay region and will carry out an extensive exploration program in 2023.

Engagement of investor relations consultant and grant of stock options

The company has engaged Paradox Public Relations Inc. (“Paradox”), based in Montreal, to provide investor relations services. The agreement has a term of up to 36 months, effective March 13, 2023, and may be terminated at any time without charge by either party by giving a 30-day notice in writing. Paradox will be paid a monthly fee of $10,000 and will be granted 1,000,000 options at $0.10 with a three-year term vesting in four equal quarterly tranches over 12 months, in accordance with the company’s stock option plan and Policy 3.4 of the TSX Venture Exchange. The investor relations agreement and granting of stock options are subject to TSX Venture approval.

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 ALS GoldSpot

ALS GoldSpot is a Canada-based group of expert geoscientists and data scientists who utilize computational methods (such as Data Analytics, Machine Learning, and numerical modelling) to assist mining and exploration clients. ALS GoldSpot offers unique processes to focus exploration efforts, minimize client risk related to exploration targeting, and optimize aspects of conventional resource exploration workflows. Its diverse geoscience and data science technical teams combine proprietary technology with in-depth expertise in mineral exploration, mineral resources, and mining to offer robust and actionable solutions to its clients and partners. While mineral exploration and mining have become data-rich environments, the value of data is lost when datasets become so large that they cannot effectively be integrated into decision making. Its expertise and solutions target such big data problems, processing or integrating underutilized data to better comprehend resource property potential.

About Quebec Precious Metals Corporation

QPM is primarily focused on advancing its Sakami gold project, located in Eeyou Istchee James Bay territory in Quebec, near Newmont Corporation’s Eleonore gold mine. In addition the Company holds a 68% interest in the Kipawa/Zeus rare earths project located near Temiscaming, Quebec. This is the only rare earths project in North America which has a fully completed feasibility study.

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, December 15, 2022 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Corporation”) announces that it has entered into agreements to issue an aggregate of 326,980 common shares in settlement of debts of three current directors and one former director of the Corporation in an aggregate amount of $24,523.50 (the “Debt Settlement”). The Debt Settlement is paid in connection with services rendered by the current directors or former directors during the third quarter this current financial year.

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 $0.075 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 126,667 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 third quarter of 2023. 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 a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

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.

   Download PDF   |   View documents on Sedar

Toronto, ON – November 11, 2022 – Idaho Champion (CSE: ITKO; OTCQB: GLDRF; FSE: 1QB1) (“Idaho Champion” or the “Company”) is pleased to announce that it has satisfied the remaining customary conditions pertaining to the definitive purchase and sale agreement (See press releases dated September 19 and November 3, 2022) (the “Agreement”) with Quebec Precious Metals Corporation (“QPM”) with respect to the Blanche and Charles lithium pegmatite projects (the “Projects”) in the Eeyou Istchee James Bay territory of Quebec.

Terms of the Agreement

On September 19, 2022, Idaho Champion announced entering into a binding memorandum of understanding (“MOU”) with respect to the acquisition of the Projects and the terms thereof. The Agreement replaces the MOU and reflects the terms described therein, including that Idaho Champion will acquire 100% of the Projects from QPM in return for $100,000 in cash and 12,000,000 common shares of the Company, of which 50% will be subject to escrow for 18 months. QPM will retain a 2% net smelter return royalty (“NSR”) on the claims constituting the Projects. The Company will have the option to repurchase 1% of the NSR from QPM for $1 million.

Per the terms of the agreement, Idaho Champion has issued 700,000 common shares of the Company as consideration for Finder’s Fees. 

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused exploration company that is committed to advancing its highly prospective cobalt properties located in Idaho, United States and lithium properties in Quebec, Canada. In addition, the Company owns the Baner gold project in Idaho County and the Champagne polymetallic project in Butte County near Arco.

The Company’s shares trade on the CSE under the trading symbol “ITKO”, on the OTCQB under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange under the symbol “1QB1”. Idaho Champion strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible. 

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore the Sakami project and advance to the mineral resource estimate stage.

ON BEHALF OF THE BOARD OF IDAHO CHAMPION

“Jonathan Buick”

Jonathan Buick, President and CEO

For further information, please visit the Company’s SEDAR profile at www.sedar.com or the Company’s corporate website at www.idahochamp.com.

For further information, please contact: 

Normand Champigny
Chief Executive Officer,
Quebec Precious Metals Corporation
Tel.: 514 979-4746

nchampigny@qpmcorp.ca

Nicholas Konkin
Marketing and Communications
Phone: (416) 567- 9087
Email: nkonkin@idahochamp.com

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE UNLAWFUL. 

Cautionary Statements for Idaho Champion

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release. This press release may include forward-looking information concerning the business of the Company within the meaning of Canadian securities legislation, including with respect to the completion of the transactions contemplated by the Agreement, the prospectivity of the Projects for lithium, and the ability of the Company to successfully shift focus to exploration for battery-related metals. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including being able to satisfy any conditions related to the acquisition, sufficient investor interest to complete the private placement financing necessary to fund the cash portion of the acquisition of the Projects, having the necessary technical expertise to explore for lithium in pegmatite, and that reported lithium resources in the district of the Projects is indicative of mineralized pegmatite prospectivity on the Projects. Although the Company 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 and the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company 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.