Highlights:
- CS26-093: three (3) separate intervals, including:
- 60.8 m at 1.24% Li2O,
- 213.8 m at 1.93% Li2O, and
- 403.7 m at 1.57% Li2O
- Drilling completed during the 2026 Summer Drill Program and 2026 Fall Drill Program will be included in an update to the Inferred Mineral Resource Estimate.
- A total of 9,552 m over 22 drill holes have been completed to date during the 2026 Summer Drill Program.
VANCOUVER, British Columbia, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ("Q2" or the "Company") is pleased to report the first assays received from the 2026 summer drill program (the "2026 Summer Drill Program") at the Company's Cisco Lithium Project (the "Project" or the "Cisco Project"), located within the greater Nemaska traditional territory of the southernmost portion of the Eeyou Istchee, James Bay region of Quebec, Canada.
The results reported herein represent 1,162 metres ("m") of drilling over two (2) drill holes completed during the 2026 Summer Drill Program. Analytical results are reported as they are received and reviewed.
2026 Exploration Program Update
The summer field season at the Cisco Project launched in May with the 2026 Summer Drill Program commencing in June. To date, a total of 9,552 m have been completed over 22 holes, with drilling focused on the conversion of the existing Inferred Mineral Resources to the Indicated category.
There are four (4) drill rigs currently operating in the main Cisco deposit area and once additional drill rigs become available, exploration and expansion drilling beyond the main deposit area will be initiated.
Alongside the 2026 Summer Drill Program, extensive regional greenfield exploration, including indicator mineral till sampling and geochemical soil sampling, expanded prospecting and mapping and surface channel sampling is being conducted. The objective of the regional program is to collect information that could potentially lead to new discoveries at the Cisco Project. The channel sampling is designed to collect resource-definition-quality surface data to complement the drilling program and enhance geological interpretation of the deposit. Analytical results from the mineral till and soil sampling and channel sampling will be reported when received and validated.
Sage McCallum, Q2 Metals Vice President, Exploration stated, "Drill hole-93 exceeded our expectations, intersecting three wide mineralized zones that collectively span approximately 678 metres of the 803 metre hole, making it the best hole ever drilled on the Cisco Project in terms of total mineralized pegmatite in one hole. While the widest interval was encountered at depth, the 60.8 metre interval was intersected at a vertical depth of just 14 metres, near the CO20 outcrop zone. The area surrounding the CO20 zone is largely obscured by vegetation and till cover making these results particularly encouraging. Intersecting such broad and robust mineralization in an area that is not well exposed highlights the potential for additional mineralization beyond what is currently defined. Our summer drill program is focused on infill drilling across the Cisco Deposit area to support the advancement of the Inferred Mineral Resource towards an Indicated Mineral Resource classification. We are very pleased to have now surpassed 50,000 metres of drilling at Cisco and remain encouraged by the continued results as we advance this important phase of the project- .
- Hole 93, with highlight intercepts of 213.8 metres at 1.98% Li20 followed just 15 metres later by another 403 metres at 1.57% Li2O, is the best hole drilled at Cisco to date," said Alicia Milne, Q2 Metals President and CEO. "These results continue to further demonstrate the exceptional scale and continuity of mineralization at Cisco and reinforces our confidence in the Project's significant growth potential. With our drill program scheduled to continue through the fall and into winter, we are advancing multiple workstreams in parallel, including our Preliminary Economic Assessment which will provide the first comprehensive assessment of Cisco's development potential and economics. This represents a major milestone for both Q2 and Cisco, and we expect to deliver a steady stream of meaningful news and results over the coming weeks and months. Backed by a strong treasury and expanding technical team, Q2 is well positioned to continue advancing Cisco across all key technical, environmental, metallurgical, engineering and permitting workstreams as we move the project toward its next stage of development..
Figure 1. Updated Map of Recent Drill Holes at Cisco Project.
Drill Results Discussion
Noteworthy analytical results reported herein are as follows:
- Drill hole-93 achieved two key objectives of the drill program:
- Hole-93 confirmed the results of nearby drilling as a planned infill hole; and
- Most importantly, hole-93 demonstrated the continuity of the western portion of the deposit at depth with approximately 170 metres of the wide 403.7m at 1.57% Li2O interval occurring outside of the conceptual pit shell area that comprised the April-2026 Mineral Resource Estimate.
- Additionally, hole-93 recovered a near-surface 60.8m of 1.24% Li2O interval that started vertically approximately 14 metres from the surface.
- Drill hole-91 was designed to follow up, at a shallower depth, the results of drill hole-77 which intersected 107.8m of 1.74% Li2O. While hole-91 intersected a small and low-grade interval, it did add to the structural interpretation of potential additional zones of mineralization that may exist nearby.
Figure 2. Cross-Section Including Drill Hole-93
Summary of Analytical Results
Table 1. Summary of Analytical Results of Drill Holes at Cisco Project
All intervals of greater than 2 m of core-length and greater than 0.30% Li2O are included in Table 1. Internal dilution of non-pegmatite material was limited to intervals of less than 3 m. No specific grade cap or lower cut-offs were used during grade and width calculations. All intervals are reported as core widths and mineralized intervals in all the holes drilled thus far are not representative of the true width as the modelled pegmatite zones are being refined with every additional hole.
Drill Hole Collar Information
The summary of drill holes including basic location and dip/azimuth is detailed below (Table 2).
Table 2. Summary of Drill Hole Collar Information, Cisco Project
Sampling, Analytical Methods and QA/QC Protocols
All drilling was conducted using 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 was 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 Qualified Person ("QP") has verified the QA/QC results of the analytical work.
Qualified Person
Neil (Sage) McCallum, B.Sc., P.Geol, is a QP 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. Neil (Sage) McCallum is a director and the Vice President Exploration for Q2 Metals and has reviewed and approved the technical information in this news release.
Upcoming Events
Q2 will be attending the following conferences and events:
| Ignite Conference | Hong Kong | October 14-15, 2026 |
| IMARC | Sydney, Australia | October 27-29, 2026 |
| XPLOR | Montreal, Quebec | November 2-5, 2026 |
| Canaccord Genuity Australia Metals & Mining Conference | Noosa, Australia | November 11-13, 2026 |
| Québec Mines + Énergie | Quebec City, Quebec | November 17-19, 2026 |
| 121 Conference | London, UK | November 23-24, 2026 |
ABOUT Q2 METALS CORP.
Q2 Metals is a Canadian mineral exploration company focused on advancing the Cisco Lithium Project which is located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay region of Quebec, Canada. The Cisco Deposit is strategically situated just 6.5 km from the Billy Diamond Highway, providing access to rail infrastructure in the Town of Matagami, ~150 km to the south, with connections to deep seaports beyond.
The current Inferred Mineral Resource Estimate on the Cisco Deposit outlines a pit-constrained resource of 270 Mt grading 1.36% Li2O at a 0.4% Li2O cut-off grade and an additional underground-constrained resource of 24 Mt grading 1.34% Li2O Inferred at a 0.7% Li2O cut-off grade. Together, these support a combined inferred mineral resource of 295 Mt grading 1.36% Li2O. The Cisco Deposit remains open along strike, with several additional high-priority targets identified across the broader 41,253 ha project area.
The 2026 exploration program is ongoing, with a primary focus on infill drilling aimed at advancing the resource toward an indicated resource classification. The program also includes targeted expansion drilling and regional exploration designed to evaluate high priority targets surrounding the Cisco Deposit and across the broader project area.
FOR FURTHER INFORMATION, PLEASE CONTACT:
| Alicia Milne President & CEO AMilne@Q2metals.com | Jason McBride Investor Relations Manager JMcBride@Q2metals.com | Chris Ackerman Corporate Development CAckerman@Q2metals.com |
Telephone: 1 (800) 482-7560
E-mail:info@Q2metals.com
www.Q2Metals.com
Social Media:
Twitter- LinkedIn- Facebook, and Instagram
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 may 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.
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