Quebec Precious Metals Identifies High Priority Lithium Targets on James Bay Projects

• 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, QC / ACCESSWIRE / August 22, 2023 / Quebec Precious Metals Corporation (TSX.V:QPM)(FSE:YXEP)(OTCQB: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).