Highlights
- Drill hole CS25-065 encountered five (5) spodumene pegmatite intervals, with the widest continuous interval of 179.2 metres. Drill hole CS25-065 is located north of the known mineralized zone and west of the CO1 outcrop and extends the system to the north at shallow depths where mineralization was not expected.
- Drill hole CS25-063 encountered 15 spodumene pegmatite intervals, including a 75.4-metre-wide interval- along with three (3) other intervals greater than 10 metres. Drill hole CS25-063 is located west of the previously known mineralized zone.
- Assays remain pending on holes 40-65 and they will be reported when received.
- An inaugural mineral resource estimate for the Cisco Project is expected to be delivered in Q1 2026.
- The Cisco Project remains open in all directions, and the Company is well funded to continue its exploration and development.
VANCOUVER, British Columbia, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ("Q2" or the "Company") is pleased to provide an update from its ongoing 2025 drilling campaign (the "2025 Drill Program") at the Cisco Lithium Project (the "Project" or the "Cisco Project"), located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay, Quebec, Canada.
Since the last visual update announced September 10, 2025, a further 7,781 metres ("m") of drilling has been completed over 21 holes with assays pending on drill holes 40 through to 65. To date, a total of 67 holes for 27,295 m have been drilled on the Cisco Project.
- Drill holes 63 and 65 demonstrate the continued growth potential of the Cisco Project. These holes were designed to define the limits of the system but, instead, discovered that the trend extends beyond our expectations. Hole-65, in particular, significantly expands the extent of known mineralization to the north," said Neil McCallum, Q2 Metals Vice President of Exploration.
"We are very pleased with the progress of the infill drilling at the Cisco Project as we look to advance from the conceptual Exploration Target announced in July to an inaugural mineral resource estimate. The Exploration Target was based only on the first 40 drill holes, and we are excited to see how the resource estimate comes together with these additional holes that have extended mineralization beyond the parameters defined thus far," said Alicia Milne, President and CEO of Q2 Metals.
Summary of Spodumene-Bearing Pegmatite Intervals
The pegmatite intervals (greater than 2 m) of drill holes CS25-046 to 065 are reported below in detail (Table 1):
| Table 1. Summary of Spodumene-Pegmatite Intervals at the Main Zone, Cisco Project |
The mineralized intervals in each of the holes are not necessarily representative of the true width and the modelled pegmatite zones are being refined with every additional hole.
Cautionary Statement: The presence of pegmatites does not confirm the presence of lithium (spodumene or other lithium minerals). Pegmatites are fractionated coarse grained igneous rocks commonly associated with lithium mineralization; however, many pegmatites do not contain mineralization. The presence of any mineralization can only be confirmed with assaying.
The geological team has completed the core cutting and logging of holes CS25-046 to CS25-065 and the samples have been dispatched to the SGS Canada preparation laboratory located in Val-d'Or, QC for mineral analysis to confirm the presence of lithium.
Discussion of Drilling Results
The 2025 Drill Program is focussed on infill drilling within the main mineralized zone that spans approximately 1.5 kilometres ("km") along the northeast-southwest trending strike length identified at the Cisco Project (the "Mineralized Zone") (Figures 2, 3, 4 and 5). Additional work included the completion of five (5) drill holes designed to capture hydrogeological information.
Noteworthy results of the drilling are as follows:
- Drill hole-65 extended the boundary of the known mineralized zone to the north with a 179.2 m wide mineralized pegmatite which was in an area that was partially mapped within the Exploration Target. It is located at relatively shallow depths of between 50 and 180 m below surface, and additional work will be completed to understand the extent of mineralization in that area.
- Drill hole-63 intercepted a 75.4 m wide mineralized pegmatite in an area where the geological team was not expecting and represents a new parallel zone that requires additional work to potentially extend.
- Drill hole-64 intercepted a total of 12 mineralized pegmatites in the core of the main mineralized zone, three (3) of which were greater than 50 m wide.
- Drill hole-57 at the southern end of the mineralized zone encountered a 49.8 m wide interval of mineralized pegmatite and is consistent with the other drilling in the area.
- Several vertically oriented HQ-diameter hydrogeological holes were completed at shallow depths of between 100 and 252 m, and many confirmed near-surface mineralized pegmatites such as drill hole-55 with a 39.3 m wide interval of mineralized pegmatite and drill hole-56 with 31 and 48.9 m wide intervals of mineralized pegmatite.
- Exploration hole-52, located between the CO2 outcrop and the main mineralized zone encountered an 18.1 m wide zone of mineralization at a vertical depth of about 100-m.
The Exploration Target on the Mineralized Zone, prepared for the Company by independent consultant BBA Inc., and announced on July 21, 2025, included 40 holes completed for 16,167.8 m1. The estimated range of potential mineralization and grade at the Mineralized Zone is from 215 to 329 million tonnes ("Mt") at a grade ranging from 1.0 to 1.38 % Li2O (see press release of July 21, 2025).
An Exploration Target is used to provide a conceptual estimate of the potential quantity and grade of a mineral deposit, based on known and additional limited geological evidence. It is an early-stage assessment that will help to guide further exploration, but it is not a mineral resource or mineral reserve and should not be treated as such.
The potential quantity and grade of the Exploration Target on the Cisco Project are conceptual in nature. There has been insufficient exploration to estimate and define a Mineral Resource, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Project ("NI 43- 101"), and it is uncertain if further exploration will result in the target being delineated as a Mineral Resource.
| Figure 1. Map of Drilling Area, Cisco Project |
| Figure 2. Cross Section A, Cisco Mineralized Zone |
| Figure 3. Cross Section D, Cisco Mineralized Zone |
The expanded drill program for the fall and winter will continue to tighten the drill spacing within the Mineralized Zone as the Company works towards an initial inferred mineral resource estimate at the Cisco Project. A portion of the expanded drill program will also test additional outcrop zones and extend the wide pegmatite intervals that were discovered in the latest campaign.
Drill Hole Collar Information
The summary of drill holes completed to date, including basic location and dip/azimuth is detailed below (Table 2):
| Table 2. Summary of Drill Hole Collar Information, Cisco Project (CS25-046 to CS25-065) |
Qualified Person
Neil McCallum, B.Sc., P.Geol, is a Qualified Person as defined by NI 43-101, and a registered permit holder with the Ordre des Géologues du Québec and member in good standing with the Professional Geoscientists of Ontario. Mr. McCallum has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President Exploration for Q2.
Cisco Option Agreement
Under the terms of the Cisco claim group Option Agreement dated February 28, 2024, and amended June 12, 2024 (the "Option Agreement"), the first anniversary payment consisted of the issuance of 10,000,000 common shares (the "Shares") and the payment of $500,000 cash. On June 12, 2025, the Company paid the $500,000 and issued 6,500,000 common shares as the Cisco vendor elected to defer the issuance of 3,500,000 common shares. The Company has now issued the Cisco vendor the remaining Shares and has completed the year one anniversary payment on the Cisco claim group. The common shares issued under the Option Agreement are subject to a hold period in accordance with applicable securities laws.
Upcoming Events
Members of the Q2 team will be attending the following conferences and events:
| 121 Mining Event | London, UK | November 17 - 18, 2025 |
| Quebec Mines and Energy | Quebec City, CA | November 17 - 20, 2025 |
| Benchmark Mineral Intelligence | Los Angeles, USA | November 18 - 20, 2025 |
| Swiss Mining Institute | Zurich, CH | November 20 - 21, 2025 |
| Resourcing Tomorrow | London, UK | December 2 - 4, 2025 |
Sampling, Analytical Methods and QA/QC Protocols
All drilling is conducted using a diamond drill rig with NQ sized core and all drill core samples are shipped to SGS Canada's preparation facility in Val D'Or, Quebec, for standard sample preparation (code PRP92) which includes drying at 105°C, crushing to 90% passing 2 mm, riffle split 500 g, and pulverize 85% passing 75 microns. The pulps are then shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples are homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (code GE_ICM91A50). The reported Li grade will be multiplied by the standard conversion factor of 2.153 which results in an equivalent Li2O grade. Drill core was saw-cut with half-core sent for geochemical analysis and half-core remaining in the box for reference. The same side of the core was sampled to maintain representativeness.
A Quality Assurance / Quality Control (QA/QC) protocol following industry best practices has been incorporated into the sampling program. Measures include the systematic insertion of quartz blanks and certified reference materials (CRMs) into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split and reject-split duplicates was completed to assess analytical precision. The QP has verified the QA/QC results of the analytical work.
ABOUT Q2 METALS CORP.
Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project, located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay region of Quebec, Canada. The known mineralized zone at Cisco is just 6.5 km from the Billy Diamond Highway, which leads to the railhead in the Town of Matagami, approximately 150 km to the south.
The Cisco Project has district-scale potential with an initial Exploration Target estimating a range of potential lithium mineralization of 215 to 329 million tonnes at a grade ranging from 1.0 to 1.38% Li2O, based only on the first 40 holes drilled. It is noted that the potential quantity and grade of the Exploration Target are conceptual in nature and there has been insufficient exploration to estimate and define a Mineral Resource, as defined by NI 43-101. It is uncertain if further exploration will result in the target being delineated as a Mineral Resource.
The 2025 Exploration Program is ongoing, prioritizing infill drilling towards an initial mineral resource estimate expected in Q1 2026. Expansion and exploration drilling continues at the main zone, which remains open at depth and along strike, as well as at high potential targets identified across the broader 41,253 hectare project area.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Alicia Milne | Jason McBride | Chris Ackerman |
| President & CEO | Investor Relations Manager | Corporate Development |
| Alicia@Q2metals.com | Jason@Q2metals.com | Chris@Q2metals.com |
Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com
www.Q2Metals.com
Social Media:
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Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward-looking statements in this news release include, but are not limited to, drilling results on the Cisco Project and inferences made therefrom, the conceptual nature of an exploration target on the Cisco Project, the potential scale of the Cisco Project, the focus of the Company's current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company's expectations in connection with the projects and exploration programs being met, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, reallocation of proposed use of funds, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedarplus.com-
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
| Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
1 Summary of Drill and Assay data
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a8ea0632-95db-4823-aa1b-9a96fe9a5afe
https://www.globenewswire.com/NewsRoom/AttachmentNg/f9f5a427-5923-4bdd-8524-6f3ae3b958b1
https://www.globenewswire.com/NewsRoom/AttachmentNg/516dec05-3f38-4cd6-adb5-70db74df14ec
https://www.globenewswire.com/NewsRoom/AttachmentNg/a0ccbb81-ca58-4d9e-9137-bf2e9bacd918
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