Historical drill cores at the Sakami gold project and exploration update

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Montreal, September 24, 2019 – Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to report that during the summer surface exploration program on its Sakami gold project, the exploration team has recovered historical and unanalyzed drill core samples by a previous operator on the project. The core samples are from nine (9) holes drilled in 2008 on the Company’s claims in an area denoted as the Apple sector, located approximately from 1 to 3 km WSW of the La Pointe gold deposit. This sector is on strike with the volcano-sedimentary sequence of the Yasinski Group (La Grande geological Subprovince). The volcano-sedimentary rocks are metamorphosed to amphibolite facies and strongly deformed by a regional WSW to ENE event. These rocks are within a sequence of quartz-feldspathic gneiss, quartz arenite, paragneiss and iron formation.

Following the re-logging of the historical drill core, 51 samples from hole AP-08-12 are being re- analyzed. Assays for all precious metals are pending. QPM will continue to relog the core to strategically identify the best core for additional assay testing during the fall.

Exploration update

Further to its July 30, 2019 press release, QPM provides an update on the first phase of the 2019 program as follows:

Sakami project

Apple area – soil geochemistry (675 samples) survey and prospecting (175 grab samples) were completed, trenching and channel sampling is underway, analytical results are pending; and
Apple-La Pointe-Simon-JR trend – Heli-borne magnetic and radiometric survey (1,400 line- km) completed, interpretation and integration with previous surveys is underway; and
Simon-JR area – IP survey (15.6 line-km).

Cheechoo-Éléonore Trend project

Soil geochemistry survey (952 samples) and prospecting (122 grab samples) were completed, analytical results are pending.

Annabelle, Blanche and Charles and Opinaca Gold West projects

Prospecting/rock sampling and reconnaissance geological mapping will begin at the end of September to better assess the exploration potential with the objective of inviting other parties to form partnerships or acquire these projects.

The surface program aims to develop targets for an anticipated drill program beginning during the fall. Details of the second phase of the program will be finalized following a review of the results of the first phase.

Quality Assurance/Quality Control

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 re-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 being analyzed by aqua regia extraction with an inductively coupled plasma finish coupled with atomic emission spectroscopy (ICP-AES). The analytical procedure for gold is 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 Jean-Sébastien Lavallée (OGQ #773), geologist, Vice-President Exploration, director and shareholder of the Company, 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 new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp 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 this 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.