Author: joverv

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HIGHLIGHTS 

• Vital to acquire Quebec Precious Metals Corporation’s 68% interest in Kipawa Rare Earth project and 100% of Zeus Rare Earth project in Quebec, Canada, for C$8 million (~A$8.5 million)
• Kipawa and Zeus are heavy rare earth projects which complement Vital’s light rare earths operations at Nechalacho
• Acquisition has potential to transform Vital into the only producer of both light and heavy rare earths in North America
• The Kipawa Project was previously held in a Joint Venture with Toyotsu Rare Earth Canada, Inc. (“Toyotsu”), which included off-take provisions.  Toyotsu’s interest was converted into a 10% Net Profit Interest (“NPI”).
• NI 43-101 defined Mineral Resource Estimate as well as Proven and Probable Reserve Estimate on the Kipawa Project
• Vital plans to update the 2013 Definitive Feasibility Study completed for Kipawa project 
• Vital intends to duplicate the strong Indigenous and community employment and procurement model that it has demonstrated at its Nechalacho REE mine in the NWT

Vital Metals Limited (ASX: VML) (“VML”, “Vital”, “Vital Metals” or “the Company”) and Quebec Precious Metals Corporation (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) (“QPM”) are pleased to announce that they have signed a binding term sheet (the “Term Sheet”) for the acquisition by VML of QPM’s 68% interest in the Kipawa exploration project and 100% interest in the Zeus exploration project (the “Projects”). Joint Venture partner Investissement Québec (“IQ”) holds the remaining 32% of the Kipawa project.

Kipawa is a heavy rare earths project, located 50km from Temiscaming in Quebec, with a Mineral Resource Estimate of 15.5Mt of eudyalite at 0.434% TREO and 0.873 ZrO₂, 6.3Mt of mosandrite at 0.391% TREO, 1.018% ZrO₂, 5.1Mt of britholite at 0.286% TREO, 0.944% ZrO_2, and with a Proven and Probable Reserve Estimate of 19.8Mt at 0.411% TREO. 

Investors should note that the terms “Mineral Resource”, “Mineral Reserve” and, “Proven and Probable Reserve” are as defined by the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) as the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM council. These estimates are foreign estimates and are not reported in accordance with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (the “JORC Code”). A competent person has not done sufficient work to classify these estimates as a mineral resource or ore reserve in accordance with the JORC Code and it is uncertain that following further exploration or evaluation work that the foreign estimates will be able to be reported as a mineral resource or ore reserves in accordance with the JORC Code.

QPM’s Chief Executive Officer Normand Champigny stated: “We are pleased with the acquisition by Vital Metals of the Projects. We have been successful in our monetization of our non-core assets since the creation of QPM in 2018.”

Projects Overview

The Projects total 73 claims over 43km² and lie in the Grenville geological province, approximately 55km south of the geological contact with the Superior geological province. The lithologies consist mainly of gneiss with a grade of metamorphism ranging from the greenschist facies to the amphibolite-granulite facies.

The Kipawa deposit is defined by three enriched horizons within the “Syenite Complex”, which contains some light rare earth oxides but primarily heavy rare earth oxides. Drilling since 2011 totals 293 drill holes (24,571m) and was used to prepare a feasibility study which was completed by Matamec Explorations Inc. in 2013.

Twelve heavy rare earth showings have been identified on the Zeus project, some of which contain niobium and tantalum.

Table 1: Rare Earth Oxide distribution at Current Prices

¹Rare earth distribution of North T and Tardiff zones as determined under the Vital’s 2012 JORC Report (refer 15 April 2020) and as detailed in announcement 2^nd February 2021. 

² Rare earth distribution of Kipawa 2013 Feasibility Study (refer https://www.qpmcorp.ca/en/projects/kipawa/)

³ Rare earth prices sourced from Shanghai Metals Market (www.metal.com) as at 8 July 2021

Term Sheet Conditions

The Term Sheet contemplates the acquisition by VML of a 68% legal and beneficial interest in the Kipawa project, and all of QPM’s rights, title and interest in the Joint Venture Agreement with IQ, and 100% legal and beneficial interest in Zeus project.  Key terms of the Term Sheet are as follows:

• QPM agrees to sell to VML or an affiliate of VML (the “Purchaser”) the Projects for a total purchase price of C$8m payable as follows:
  • C$150,000 deposit on signing the Term Sheet;
  • C$2.35m on acquisition of the Projects;
  • C$2.5m on the first anniversary of acquisition;
  • C$1m on the second anniversary of acquisition;
  • C$1m on the third anniversary of acquisition; and
  • C$1m on the fourth anniversary of acquisition.

Purchaser will grant security over the Projects to QPM until the consideration is paid in full.

• Acquisition of the interests in the Projects is to occur at the completion of the sale and purchase by Purchaser when all conditions precedent have been satisfied or waived.
• Following the execution of the Term Sheet on August 9 (the “Execution Date”), VML shall conduct due diligence within one of the following periods, whichever is applicable:
  • 3 months following the Execution Date, provided that VML’s nominated personnel visit the Projects within a period of 2 months following the Execution Date; or
  • In the event VML’s nominated personnel are unable to visit the Projects within a period of 2 months following the Execution Date, on the earlier of: (i) 1 month following the date of arrival of VML’s nominated personnel on either the Kipawa and Zeus Projects, and (ii) 6 months following the Execution Date.
• Conditions precedent include:
  • VML due diligence;
  • QPM shall have delivered to VML executed releases as to the discharge of all encumbrances over the Projects, other than permitted encumbrances;
  • VML shall have obtained from the ASX confirmation that ASX Listing Rule 11.1.3 does not apply to the transactions as contemplated by this term sheet, and if ASX determine that ASX Listing Rule 11.1.2 applies to the transactions, the shareholders of VML approving the transactions for the purposes of ASX Listing Rule 11.1.2. ASX has confirmed that neither Listing Rule 11.1.3 or Listing Rule 11.1.2 apply to this transaction;
  • QPM shall have delivered to VML all consents or agreements required to assign the existing royalties (being the 10% NPI with Toyotsu Rare Earth Canada, Inc.) from QPM to VML and as required to grant the security over the Projects to QPM;
  • In respect of the joint venture agreement (“JV Agreement”) with IQ:
    • IQ shall have waived its right of first refusal under the JV Agreement;
    • IQ shall have consented to the sale of QPM’s rights and interests in the Kipawa project and the JV Agreement to VML; and
    • VML shall have delivered to IQ a written notice in accordance with the
      JV Agreement accepting to be bound by the terms and conditions of the JV Agreement.
  • Other customary conditions of closing, including various third-party approvals.

The Term Sheet contains other terms and conditions considered standard for an agreement of its nature including representations and warranties given by the parties.

Consideration will be paid from VML’s existing cash reserves.  Dependent upon access for due diligence as set out above, the acquisition will complete before 28 February 2022.

QPM will provide more updates on the planned acquisition as it progresses.

Qualified/Competent Persons Statement

Information and statement relating to the Mineral Resource Estimate for the Kipawa Rare Earth Project is based on, and fairly represents, information and supporting documentation prepared by Matamec Explorations Inc. and the “Qualified Person” under NI 43-101 is Mr Yann Camus, Eng from SGS Canada Inc.  The data in this press release has been reviewed by Mr Brendan Shand.  Mr Shand is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy and an employee of the Company. Mr Shand has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Shand confirms that the information is an accurate representation of the available data and studies including the Technical Report and Resource estimation obtained from a NI43-101 Compliant Feasibility Study for the Kipawa Project submitted by Matamec Explorations Inc (Effective Date: September 3, 2013, Issue Date: October 17, 2013).

Sakami Project Technical Report

Following a letter of observation sent by the Autorité des marchés financiers on July 26, 2021, QPM filed on SEDAR an amended version of the previously disclosed technical report dated April 21, 2021 and entitled “NI 43-101 Technical Report for the Sakami Project, Eeyou Istchee James Bay territory, Quebec, Canada”. The amended report does not contain any material changes.

– ENDS-

Contacts:

Mr Geoff Atkins Managing Director Vital Metals Limited Phone: +61 2 8823 3100 Email: vital@vitalmetals.com.au

Mr Jean-François Meilleur
President
Quebec Precious Metals Corporation
Phone: +1 514 951 2730
Email: jfmeilleur@qpmcorp.ca

Mr Normand Champigny
Chief Executive Officer
Quebec Precious Metals Corporation
Phone: +1-514 979 4746
Email: nchampigny@qpmcorp.ca

This announcement has been authorised for release by the Board of directors of QPM.

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 project to advance it to the mineral resource estimate stage.

QPM 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 QPM’s 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 QPM 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 QPM’s and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect QPM’s business and operations in the future. QPM does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the QPM’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by QPM or management or beyond the QPM’s control.

Although QPM 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 QPM. 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, QPM 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.

ABOUT VITAL

Vital Metals Limited (ASX: VML) is Canada’s rare earths producer following commencement of operations at its Nechalacho rare earths project in Canada in June 2021. It holds a portfolio of rare earths, technology metals and gold projects located in Canada, Africa and Germany.

Nechalacho Rare Earth Project – Canada

The Nechalacho project is a high grade, light rare earth (bastnaesite) project located at Nechalacho in the Northwest Territories of Canada and has potential for a start-up operation exploiting high-grade, easily accessible near surface mineralisation. The Nechalacho Rare Earth Project hosts within the Upper Zone, a JORC Resource of 94.7MT at 1.46% TREO comprised of a Measured Resource of 2.9MT at 1.47% TREO, an Indicated Resource of 14.7MT at 1.5% TREO, and an Inferred Resource of 77.1MT at 1.46% TREO.

Compliance Statements

This announcement contains information relating to Mineral Resource Estimates in respect of the Nechalacho Project extracted from ASX market announcements reported previously and published on the ASX platform on 13 December 2019 and 15 April 2020. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed.

Vital 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 the Company’s 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 the Company’s 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 Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the entity’s or management or beyond the Company’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 Company 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.

Listing Rule 5.12 Foreign Resource Estimate information

The information in this announcement relating to the Mineral Resource Estimate and Ore Reserves for the Kipawa Project is reported in accordance with the requirements applying to foreign estimates in the ASX Listing Rules (the “Foreign Estimates”) and, as such are not reported in accordance with the 2012 edition of the JORC Code. As such, the following information is provided in accordance with ASX Listing Rules 5.10 & 5.12:

1. The source and date of the foreign estimate (LR 5.12.1)

The source of the foreign estimate is taken from public documents released by Matamec Explorations Inc. on October 21, 2013.  Further information on these releases may be found on SEDAR website (www.sedar.com).

2. Whether the foreign estimates use categories of mineralisation other than those defined in JORC Code 2012 and if so, an explanation of the differences (LR 5.12.2)

Categories described are the same as those defined in JORC Code 2012, whereby resources were classified as Inferred, Indicated or Measured

3. The relevance and materiality of the foreign estimates to the entity (LR 5.12.3)

VML considers the foreign estimates to be both material and relevant to the Kipawa project as it provides an indication of the size and scale of the project.

4. The reliability of the foreign estimates, including reference to any criteria in Table 1 of JORC Code 2012 which are relevant to understanding of the reliability of the foreign estimates (LR 5.12.4)

It is the opinion of VML that these estimates are reliable and represent the results of work done to very high standards, using high quality sampling, testing and geological and geostatistical modelling. The foreign estimates represent best practice work at the time.

5. To the extent known, a summary of the work programs on which the foreign estimates are based and a summary of the key assumptions, mining and processing parameters and methods used to prepare foreign estimates (LR 5.12.5)

The Technical Report includes key assumptions for commodity prices, mining and processing costs, and there has been no material changes in assumptions. The Technical Report in its current form is considered to be a comprehensive compilation of all available data applicable to the estimation of mineral resources. A summary of key assumptions and methods used to prepare the Foreign Estimate include:

• The resource is reported according to CIM Definition Standards (2010)
• By using SGS Geostat model, the mineral reserve for the Feasibility Study was prepared, estimated and supervised by Roche using a cut-off value of $48.96/t with 5% dilution and a mining recovery of 95.2%.  The Kipawa open-pit design utilized a marginal (or milling) cut-off value of $48.96/t and a break-even cutoff value of $60.70/t.  Included in the reserves are 632,000 tonnes of low-grade material lying between these 2 cut-off values.  This material will be sent on a low-grade stockpile, close to the mine site, and will be processed at the end of the operation after mine depletion.
• The Foreign Estimate and current Technical Report is based on a total of 293 drill holes totalling 24,571m and 13 trenches totalling 631m.  Historical Unocal holes are not in the count and were not used for the estimates.  The mineralised zones were interpreted on vertical sections and meshed into volumes as per industry standard.  Ordinary kriging was used to estimate the block model with block size set at 10m x 5m x 5m.  The measured and indicated resources required drill grids 25m and 50m respectively.  Resources extrapolated beyond 30m of those drill grids are considered inferred.

6. Any more recent estimates or data relevant to the reported mineralisation available to the entity (LR 5.12.6)

No further resource estimates or data relevant to the resource estimation are available.

7. The evaluation and/or exploration work that needs to be completed to verify the foreign estimates as mineral resources or reserves in accordance with JORC Code 2012 (LR 5.12.7)

A revision of the historical drilling information will be completed, to further ensure the integrity of the data, followed by another estimation of the resource, with updated classification based on the level of information available. In addition, VML intends to conduct further drilling, bulk sampling, geotechnical and hydrological testing.

8. The proposed timing of any evaluation and/or exploration work that the entity intends to undertake and a comment on how the entity intends to fund that work (LR 5.12.8)

VML intends to conduct drilling, bulk sampling, geotechnical and hydrological testing and will embark on this work as access permits are granted and intend to complete this work within several months. The work will be funded from existing working capital.

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Montreal, June 17, 2021 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTCQB: CJCFF) (“QPM” or the “Company”) is pleased to announce that it has received confirmation from the Depository Trust Company (“DTC”) that its common shares are now eligible for electronic clearing and settlement through DTC in the United States. QPM currently trades on the OTCQB under the ticker symbol CJCFF.

DTC is a subsidiary of The Depository Trust & Clearing Corp. DTC manages the electronic clearing and settlement of securities of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through DTC are considered DTC eligible. This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling a security to be traded over a much wider selection of brokerage firms.

Normand Champigny, Chief Executive Officer of the Company stated: “We are pleased that our securities are now DTC eligible. This means that our common shares can be transferred electronically between United States brokerage firms and eliminates physical stock certificates. This is important for American investors.”

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 project and to advance the project to the mineral resource estimate stage.

For more information please contact: 

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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 11, 2021 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) announces that it has granted an aggregate of 300,000 stock options (the “Options”) of the Company to two newly appointed directors. Each Option entitles its holder to purchase one common share of the Company at a price of $0.30 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 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.

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 project and to advance the project to the mineral resource estimate stage.

For more information please contact: 

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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 9, 2021 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to report the drill results from the 2021 winter program (7 holes, 2,079 m) for its 100% owned Sakami Project (the “Project”) in Quebec’s Eeyou Istchee James Bay territory.  The fully-funded summer program has started (see press release of June 1, 2021) and is designed to expand the mineralized zone at La Pointe Extension with 12,000 m of drilling in (40+ holes).

Highlights (Figures 1 to 5, Table 1)

• Two holes (PT-21-177, -182) have intersected mineralization over wide intervals (silicified paragneiss with disseminated pyrite and arsenopyrite),

– 1.83 g/t Au over 58.6 m including 2.40 g/t Au over 30.9 m; and

– 2.15 g/t Au over 42.2 m including 5.17 g/t Au over 14.5 m.

• Three holes (PT-21-177, -178, -182) have reported high-grade intervals (> 10 g/t Au over at least 1 m).
• The mineralization continues to extend at depth and along strike as illustrated by the grade x thickness values contours on longitudinal sections (Figures 2, 3 and 4). 

The La Pointe Extension deposit, has a strike length of 3,500 m, a minimum depth of 400 m and an average estimated true thickness of 40 m (and up to 101 m), on the basis of the 35 holes drilled to date. 

Normand Champigny, CEO of QPM, stated: “The 2021 winter program at the La Pointe Extension generated some of the best drill results on the Sakami Project. We are very excited to drill this summer to confirm the high-grade potential at depth and along strike.”

Complete drill results and calculated drill hole composites are available on QPM’s website (https://www.qpmcorp.ca/en/projects/sakami-technical-information/ ).

The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises 281 claims (142 km²). It is located 570 km north of Val d’Or, Quebec, 120 km east of the municipality of Wemindji, 90 km from the Éléonore gold mine and 47 km northeast of the paved James Bay Road. Good infrastructure is present including major access roads, a hydro-powered electric grid and airports. Drilling can be carried out throughout the year.

Quality Assurance/Quality Control

For the Sakami project, the drilling contract was awarded to Forage Val-d’Or Inc. based in Val-d’Or, Quebec. The hole diameter is NQW. Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d’Or, Quebec. The samples are weighed and identified prior to sample preparation.  All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Richard Nieminen, P. Geo., Senior Exploration Manager, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

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 Project to advance it to the mineral resource estimate stage.

For more information, please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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.

Table 1: Sakami Project - Summary of 2021 winter drilling program, significant drill results

Hole #	UTM E	UTM N	Length (m)	Azimuth (°)	Dip (°)	Number of samples	From(m)	To (m)	Interval (m)	Au(g/t)
PT-21-177	373857	5893555	207	145	-50	168	123.80	166.00	42.20	2.15
Including							141.50	156.00	14.50	5.17
PT-21-178	373796	5893459	300	145	-50	230	151.50	190.00	38.50	0.47
PT-21-179	373706	5893400	300	145	-48	228	204.00	208.50	4.50	0.82
PT-21-180	373639	5893331	348	148.6	-46.4	260	29.50	40.00	10.50	0.64
							172.50	174.00	1.50	0.45
PT-21-181	373570	5893043	261	145	-50	203	132.00	149.00	17.00	0.70
PT-21-182	373924	5893841	411	150	-54	351	286.50	345.10	58.60	1.83
Including							308.30	339.20	30.90	2.40
							367.50	371.30	3.80	4.29
PT-21-183	373504	5892965	252	145	-50	196	73.90	84.00	10.10	0.58
							121.00	134.20	13.20	0.51

Notes:

• All widths are drill indicated core length.
• Drilholes are generally planned to intersect mineralization as close to perpendicular to strike as possible.
• True widths are considered to be almost 100% of the down-hole length when drillhole inclination and dip of the mineralized horizons are considered.
• All gold values presented are not capped.

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Montreal, June 7, 2021 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to announce the appointments of Ms. Paola Farnesi and Ms. Julie Robertson to its Board of Directors as independent non-executive directors, effective immediately.

Paola Farnesi

Ms. Paola Farnesi is a senior financial professional with over 30 years of experience in corporate finance, financial reporting, M&A and risk management. She is currently a Vice President and Treasurer of Domtar Corporation, responsible for negotiating and arranging in excess of $1 billion in corporate financings, overseeing an insurance portfolio of over $20 billion in insurable values and managing the investments of pension fund assets in excess of $3 billion. From 1994 to 2008, Ms. Farnesi held several other leadership positions at Domtar Corporation, including Vice President, Internal Audit, where she was responsible for the implementation and subsequent compliance efforts related to Sarbanes-Oxley. Prior to joining Domtar Corporation, Ms. Farnesi worked at Ernst & Young for the assurance group in Montreal. She is an independent director and Chair of the Audit Committee of Falco Resources Ltd., and has served on the Board of the Centaur Theatre Company since 2010. Ms. Farnesi holds a Bachelor of Commerce and a Graduate degree in Public Accountancy from McGill University, is a member of the Chartered Professional Accountants (CPA) of Quebec and obtained the ICD.D designation from the Institute of Corporate Directors.

Julie Robertson

Ms. Julie Robertson is Vice-President Finance and Capital Projects at Centerra Gold Inc., a mining company listed on the TSX and NYSE, with annual Revenue of $2 billion. Prior to this position, she held a number of senior positions with Barrick Gold Corporation. She is a Canadian Certified Public Accountant with extensive experience in transformative leadership, external reporting, management reporting, planning and project management, and has an in depth understanding of IFRS and US GAAP. She is the Finance Committee Chair (Volunteer) of Boost Child & Youth Advocacy (CYAC), a registered charity committed to eliminating child abuse and violence in the lives of children, youth, and their families. Ms. Robertson is also the Chair of CPA Canada’s Mining Industry Task Force on IFRS, created jointly with The Prospectors & Developers Association of Canada (PDAC). She holds a Bachelor of Arts (BA), Accounting and Finance from the University of Western Ontario and a diploma of Accounting and Finance from Wilfrid Laurier University.

Charles Main

Mr. Charles Main has informed the Company that he will retire as a director and not stand for re-election to the Board at the Annual Shareholders’ Meeting (scheduled to be held on July 21, 2021) as he focuses on personal priorities and fewer board committments. 

Chuck’s retirement combined with the recent resignation of Jean-Sébastien Lavallée as a director in order to concentrate on his own developing mining company, has provided an opportunity to appoint two new independent directors. 

“We are extremely pleased to welcome Paola Farnesi and Julie Robertson to our Board of Directors. The combination of their talent and vast experience in mining, financing and as directors and officers of publicly trading companies will further strengthen our Board. With their appointment, we are adding net one independent director and also improving the Board’s diversity.”, stated John Hick, Non- executive Chairman of QPM.

“We are most grateful for Chuck Main’s commitment, professional acumen and expertise as a director and in particular as chair of QPM’s Audit and Risk Management Committee, and wish him well in his future endeavours. The Committee and the Board will greatly benefit from the two new Board appointees.”, said Normand Champigny, Chief Executive Officer of QPM.

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 project to advance it to the mineral resource estimate stage.

For more information, please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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

Montreal, June 1, 2021 – Quebec Precious Metals Corporation (“QPM” or the “Company”) (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to inform that it has filed a National Instrument 43-101 Technical Report (the “Report”) for the Sakami Project (the “Project”).

The Report was prepared by Messrs. Normand Champigny, Eng. and Richard Nieminen, P. Geo., of QPM, who are qualified persons under NI 43-101. The Technical Report can be found on the Company’s website or under the Company’s profile at www.sedar.com.

The Report presents an updated summary of the surface and drilling programs carried out on the Project since the publication of the November 24, 2017 NI 43-101 technical report submitted by SGS Canada for Canada Strategic Metals Inc. and Matamec Explorations Inc., and in particular the drilling campaigns completed in 2018, 2019 and 2020.

The Report clearly demonstrates that:

• there is considerable potential to host economic gold mineralization at the La Pointe deposit and La Pointe Extension area; and
• the Project warrants additional drilling to extend the known mineralization and to then be in a position to prepare a maiden NI 43-101 compliant mineral resource estimate.

QPM has completed the winter phase of the 2021 exploration work program (7 holes, 2,079 m). Assay results are being reviewed and will be released shortly. These results will be used to guide the summer field program. The program comprises an additional 12,000 m of drilling in 40+ holes. With the recently completed financing of $3.25M, the Company is fully funded to execute the 2021 program.

To execute this program, the Company relies on a highly experienced team with considerable knowledge of the area and gold exploration. The key team members that are leading the program are:

• Richard Nieminen, P.Geo., Senior Exploration Manager, with over 30 years of experience and who has participated in the discoveries of two mines in Quebec; and
• Jean-Sébastien Lavallée, Advisor, who has been working on the Project since the early 2000, with the Company and with Consul-Teck Exploration Minière Inc.

The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises 281 claims (142 km²). It is located 570 km north of Val d’Or, Quebec, 120 km east of the municipality of Wemindji, 90 km from the Éléonore gold mine and 47 km northeast of the paved James Bay Road. Good infrastructure is present including major access roads, a hydro-powered electric grid and airports. Drilling can be carried out throughout the year.

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Richard Nieminen, P. Geo., Senior Exploration Manager, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

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 project to advance it to the mineral resource estimate stage.

For more information, please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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

Montreal, May 18, 2021 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce that, in connection with its previously announced “best efforts” private placement financing (the “Placement”), the Company closed an additional and final tranche of the oversubscribed Placement for an amount of $22,000 consisting of 100,000 common shares of the Company (the “Common Shares”) at a price of $0.22 per share. 

In total, including the first tranche which closed on May 3, 2021 and the second tranche of the Placement, the Company has issued 14,774,543 Common Shares for gross proceeds of $3,250,399, 

Finders fees totalling $1,760 have been paid to third parties dealing at arm’s length with QPM. In addition, the finders received 8,000 non-transferable compensation warrants, with each such warrant being exercisable at a price of $0.30 per common share of the Company for a period of 24 months from the closing of the second tranche of Placement. 

The Common Shares are 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. 

The net proceeds from the sale of the Common Shares will be used for exploration expenditures as well as for general corporate and working capital purposes.

The Placement is subject to the acceptance of the TSX Venture 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 project to advance it to the mineral resource estimate stage.

For more information please contact: 

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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

Montreal, May 5, 2021 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce that, in connection with its previously announced “best efforts” private placement financing (the “Placement”), the Company closed the second and final tranche of the oversubscribed Placement for an amount of $594,000. The second tranche consists of 2,700,000 common shares of the Company (the “Common Shares”) at a price of $0.22 per share. 

In total, including the first tranche which closed on May 3, 2021 and the second tranche of the Placement, the Company has issued 14,674,543 common shares for gross proceeds of $3,228,399.

One member of QPM’s management and board of directors, invested a total of $22,000 in the second tranche of the Placement. The subscription by this “insider” of the Company, is considered to be a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company did not file the material change report more than 21 days before the expected closing date of the Placement as the details of the Placement and the participation therein by this insider was not settled until shortly prior to the closing of the Placement, and the Company wished to close the Placement on an expedited basis for sound business reasons. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves this insider, is not more than the 25% of the Company’s market capitalization. Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves this insider, is not more than the 25% of the Company’s market capitalization.

Finders fees totalling $47,520 have been paid to third parties dealing at arm’s length with QPM.

In addition, the finders received 216,000 non-transferable compensation warrants, with each such warrant being exercisable at a price of $0.30 per common share of the Company for a period of 24 months from the closing of the second tranche of Placement. 

The Common Shares are 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. 

The net proceeds from the sale of the Common Shares will be used for exploration expenditures as well as for general corporate and working capital purposes. The Placement is subject to the acceptance of the TSX Venture Exchange. 

Resignation of Jean-Sébastien Lavallée

Mr. Jean-Sébastien Lavallée has resigned from the Board of directors and Vice President Exploration (effective immediately), to focus on other professional commitments. He will continue to act as an advisor to the Company.

“For over a decade, Jean-Sébastien Lavallée has made a huge contribution to advance the exploration of the Sakami project and our other projects in the region. His knowledge and expertise will continue to be invaluable as an advisor to the QPM.”, said Normand Champigny, Chief Executive Officer of QPM.

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 project to advance it to the mineral resource estimate stage.

For more information please contact: 

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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

Montreal, May 4, 2021 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce that, in connection with its previously announced “best efforts” private placement financing (the “Placement”), the Company closed the first tranche of the Placement for an amount of $2,634,399.46. The Placement consists of 11,974,543 common shares of the Company (the “Common Shares”) at a price of $0.22 per share.

The Company issued a total of 2,945,454 Common Shares to the following Québec-based institutional funds:

– CDPQ Sodémex Inc. (“CDPQ Sodémex”);
– SIDEX L.L.P. (“SIDEX”);
– Capital régional et coopératif Desjardins (“CRCD”); et
– Société de développement de la Baie-James (“SDBJ”).

Three members of QPM’s management and board of directors, invested a total of $102,999.82. The subscription by these “insiders” of the Company, is considered to be a “related party transaction” for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has filed this material change report on SEDAR (www.sedar.com) under its issuer profile to provide disclosure in relation to each “related party transaction”. The Company did not file the material change report more than 21 days before the expected closing date of the Placement as the details of the Placement and the participation therein by these insiders was not settled until shortly prior to the closing of the Placement, and the Company wished to close the Placement on an expedited basis for sound business reasons. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves these insiders, is not more than the 25% of the Company’s market capitalization. Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves these insiders, is not more than the 25% of the Company’s market capitalization.

Finders fees totalling $94,855.99 have been paid to third parties dealing at arm’s length with QPM.

In addition, the finders received 431,164 non-transferable compensation warrants, with each such warrant being exercisable at a price of $0.30 per common share of the Company for a period of 24 months from the closing of the Placement. 

The Common Shares are 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. 

The net proceeds from the sale of the Common Shares will be used for exploration expenditures as well as for general corporate and working capital purposes. The Placement is subject to the acceptance of the TSX Venture Exchange. 

The Company announces that it intends to increase the size of the Placement for aggregate gross proceeds of $3,000,000, and to complete a second tranche of the Placement in the near future.

About CDPQ Sodémex

Through its CDPQ Sodémex mining portfolio, la Caisse de dépôt et placement du Québec contributes to the development of Québec’s mining industry by acquiring interests in junior mining companies and mining producers active in Québec.

About SIDEX

SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.

About Desjardins Capital 

Nearly 45 years strong, Desjardins Capital, CRCD’s manager, has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.6 billion as of December 31th, 2020, Desjardins Capital helps contribute to the longevity of some 550 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to maintain and create more than 80,000 jobs (as at December 31, 2019), this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth.

About SDBJ

SDBJ was created under the James Bay Region Development Act adopted by the Québec National Assembly in 1971. Its mission is to promote, from a sustainable development perspective, the economic development, improvement and exploitation of natural resources other than hydroelectric resources falling within Hydro-Québec’s mandate in the James Bay territory. SDBJ can also foster, support and participate in the implementation of projects having these objectives.

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 project to advance it to the mineral resource estimate stage.

For more information please contact: 

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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

Montreal, April 21, 2021 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce that, in connection with its previously announced “best efforts” private placement financing, the Company has agreed to increase the size of the offering. Under the revised terms of the offering, the Company has agreed to issue 12,404,545 common shares of the Company (the “Common Shares”) for gross proceeds of $2,729,000 at a price of $0.22 per Share (the “Offering”).

In connection with the Offering, the Company may pay in respect of certain subscriptions a finders’ fee of 8.0% of the gross proceeds of the Offering on the closing and will also issue to finders for certain subscriptions, non-transferable compensation warrants equal to 8.0% of the number of Common Shares issued, with each such warrant being exercisable at a price of $0.30 per common share of the Company for a period of 24 months from the closing of the Offering. 

The Common Shares shall be distributed in Canada pursuant to private placement exemptions in each of the provinces of Canada and the Shares may be distributed in the United States on a private placement basis pursuant to exemptions from the registration requirements pursuant to Rule 144A of the United States Securities Act of 1933, as amended, in a manner that does not require the Common Shares to be registered in the United States. The Common Shares may also be sold in such other international jurisdictions as the Company may agree.

The Common 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. The net proceeds from the sale of the Common Shares will be used for exploration expenditures as well as for general corporate and working capital purposes.

The private placement is expected to close on or about April 30, 2021, and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the TSX Venture 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 project to advance it to the mineral resource estimate stage.

For more information please contact: 

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

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.