Quartz To Raise $3.26 Million Including New Key Investor - Seite 2

Sutton has agreed to concurrently purchase 9,000,000 shares from Mr. Dickinson in a private transaction so that its total holdings will be 15,000,000 shares or 25.8% of 58,118,030 issued shares and 23.4% of the fully diluted shares capital of 63,986,919. The financing is currently subject to execution of a definitive agreement with Sutton and customary TSX Venture Exchange approval but is expected to complete in May 2024 at which time a further news release will detail the completion terms.

About Quartz

Quartz Mountain Resources Ltd. (TSXV: QZM, OTC Pink: QZMRF) is a restructured public company headquartered in Vancouver, Canada. Its successful mine finding management is focused on discovering and transacting high-value gold, silver, and copper projects in British Columbia. The Company owns 100% of the Maestro Gold-Silver-Molybdenum-Copper Property and 100% of the Jake Copper-Gold-Silver Property. Both projects have access to infrastructure and high potential for important resources and significant future transactions. The BC Government has awarded permits for 50 drill sites for each project. Recent drilling of two core holes at Maestro discovered a high-grade gold-silver lode within widespread precious metal mineralization all hosted within a large porphyry Mo-Cu system (see Quartz News Release dated April 9, 2024). Drilling at Jake is planned for summer 2024 with the goal of making another important discovery.

Quartz is associated with Hunter Dickinson Inc. ("HDI"), a company with over 35-years of successfully discovering, developing, and transacting mineral projects in Canada and internationally. Former HDI projects in BC included, Mount Milligan, Kemess South, and Gibraltar - all of which are porphyry deposits with current or former producing mines. Other well-known projects with HDI involvement include Sisson and Prosperity in Canada, Pebble and Florence in the United States, and Xietongmen in China.

Quartz is committed to the advancement of important scale, critical and essential mining assets while following responsible mineral development principles, including a mandate to employ best practice approaches in the engagement and involvement of local communities, and meeting rigorous environmental standards.

On behalf of the Board of Directors

Robert Dickinson
Chairman

For further details, contact Robert Dickinson, Chairman at:
T: [phone] or within North America at 1-800-667-2114.
E: [e-mail]
W: www.quartzmountainresources.com