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