QMC Quantum to Acquire Former Irgon Lithium Mine, Cat Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 13, 2016) - QMC Quantum Minerals Corp., (TSX VENTURE:QMC)(PINKSHEETS:QMCQF)(FRANKFURT:3LQ) ("QMC" or "the Company"), is pleased to announce that it has entered into an option agreement with 101162742 Saskatchewan Ltd. whereby QMC has the exclusive right to acquire an undivided 100% right, title and interest in the Cat Lake Lithium Property (the 'Property') in Manitoba.

THE PROPERTY

The Cat Lake (also known as the Irgon Lithium Mine) Property hosts several rare-element granitic pegmatite occurrences, one of which hosts and is locally known as the former Irgon Mine. The Irgon occurrence and several other known pegmatite dikes are situated on 4 adjoining mineral claims which comprise the Cat Lake Property. The total area covered by the 4 claims is 700 hectares. Access to the property is excellent as Provincial Highway 314 in southeast Manitoba transects the claims, approximately 150km northeast of Winnipeg.

The property lies within the east-trending Mayville-Cat-Eculid Greenstone Belt ("MCEGB") located along the northern contact of the Maskwa Lake Batholith. This northern greenstone belt has a similar structural geological setting as the Bird River Greenstone Belt ("BRGB") which is located along the southern contact of the same batholith, and is parallel to and approximately18km to the south of the MCEGB. The property is located 20km north of the Tanco Mine Property. The BRGB hosts the world-class Tanco rare element-bearing pegmatite dike. The Tanco Mine went into production in 1969 and produced tantalum, cesium and lithium concentrate. It was previously North America's largest and sole producer of spodumene (Li), tantalite (Ta) and pollucite (Cs).

The property covers the former Irgon Mine and several known pegmatite dikes of which currently the largest and best exposed is the spodumene-bearing Irgon Dike. This dike is well exposed on a glaciated surface and strikes N80°W with a dip of 87°S. It currently has a total exposed strike length of 442 meters and displays widths varying between 3 to 18 meters, with an average width of approximately 7 meters. Near the centre of its widest section, the dike is composed of large microcline crystals, from 39 to 61 centimeters along their crystal faces, which lie in a finer-grained groundmass of quartz and spodumene. The eastern portion of the deposit was sampled over a length of about 229 meters (circa 1934) with samples sent for analyses at the Department of Mines, Ottawa. The results, although considered by QMC to be historic, indicated contents of 40-53% spodumene for samples, and 7.44% Li₂0 contained within the spodumene mineralization.