Quebec Precious Metals Intersects 3.86 g/t Au Over 8 m and 2.37 g/t Au o=Over 12.2 m on Its 100% Owned Sakami Project

MONTREAL, QC / ACCESSWIRE / February 29, 2024 / Quebec Precious Metals Corporation ("QPM" or the "Corporation") (TSXV:QPM)(OTCQB:CJCFF)(FSE:YXEP) is pleased to announce the results of the drilling program completed at the end of 2023 at the La Pointe Extension gold deposit (see press releases of November 23 and December 19, 2023). The deposit is located on the Corporation's 100% owned Sakami project in the Eeyou Istchee James Bay territory of Quebec. The drilling program was designed to test the higher-grade portion of the La Pointe Extension deposit that could be amenable to open pit mining.

Highlights (Table 1, Figures 1, 2, 3 and 4)

• The drill intersections are:
• Hole PT-21-196: 0.83 g/t Au over 80.4 m including 2.37 g/t Au over 12.2 m
• Hole PT-21-197: 1.18 g/t Au over 43.2 m including 3.86 g/t Au over 8.0 m
• These holes confirm the continuity of the sub-vertically dipping higher-grade core of the deposit (500 m strike length, a depth of 400 m with an estimated average true thickness of 40 m, up to 66 m) in the central part of the deposit.

The two holes, totalling 732 m, intersected strongly silicified paragneiss that characterizes the mineralized zone with the presence of disseminated arsenopyrite and pyrite. Both holes ended in mineralization. This modest drill program demonstrates a widening of the mineralized zone which validates further drilling at the La Pointe Extension deposit.

Normand Champigny, QPM's Chief Executive Officer, stated: "We are very encouraged by these drill results. They confirm the presence of the higher-grade core of the La Pointe Extension. Mineralization remains open at depth and along strike. We are completing a full review of drill targets on the Sakami project including La Pointe Extension to guide our future drilling."

Complete assay results and calculated composite grades released to date are available on QPM's website (https://www.qpmcorp.ca/en/projects/sakami-technical-information/).

Quality Assurance/Quality Control

Top-to-bottom core sampling was conducted for the drill program; sample lengths typically ranged from 0.5 to 1.5 m. Core was split in half using a hydraulic core splitter capable of splitting pieces up to 12 cm-long. Core technicians were instructed to clean dust and core fragments from surfaces inside the splitter between samples, in order to mitigate sample contamination. Half of the core was submitted to ALS Global for geochemical analyses. The other half of the core was retained in core boxes for future reference.