Cisco Lithium Property - Q2 Metals Corp.

Cisco Lithium Property Eeyou Istchee Territory, James Bay, Quebec

Acquired by Q2 Metals in February 2024, the Cisco Property is comprised of 222 mineral claims and is 11,374 hectares (“ha”) in size. It is located less than 10 kilometres (“km”) east of the Billy Diamond Highway, and is approximately 150 km north of Matagami, a small town that contains the closest rail link to much of James Bay (Figure 1). The Property lies within the greater Nemaska Community lands of the Eeyou Istchee Territory, James Bay, Quebec.

The Property is situated along the Frotet Evans Greenstone Belt, comprised of a volcanic package dominated by mafic to felsic metavolcanic rocks, of the southern James Bay Lithium District. The same belt hosts the Sirmac and Moblan lithium deposits, located 130 km and 180 km away, respectively.

James Bay Regioin Cisco Lithium Property — *Figure 1: Cisco Property – Regional Location*

2024 Exploration work

In May 2024, the Company commenced a detailed mapping and sampling program at the Cisco Property to provide guidance on the extent of the lithium mineralization at the initial target area and identify other potential target areas on the sizeable primary exploration trend measuring 21 kilometres (“km”) long. Field crews began the program at the CO1 Zone where the vendors of the Cisco Property initially sampled and drilled in 2022/2023 and have since expanded throughout the Property.

August 12, 2024 the Company announced that ground sampling and mapping conducted by field crews had discovered eight (8) new mineralized outcrops within the area of interest for a total of 23 total spodumene pegmatite zones now discovered on the Property.  The area of interest has now been expanded to a 1.9 km by 1.5 km area. Figure 2 details the area of interest including the confirmed analytical results at the previously known outcrop areas (CO1 to CO15, as announced July 8, 2024), as well as the new, and yet to be analyzed, samples at these additional outcrop areas (CO16 to CO23).

Fig 4 Cisco 1 — Figure 2. *Map of mineralized area, zones CO1 to CO23, Cisco Property*

2024 Drill Campaign

The Company commenced its 2024 drill program at the Cisco Property in late May. Since May 2024, the Company has drilled a total of 6,359.7 m over 17 holes. All drill holes intercepted pegmatite with visual indications of spodumene mineralization identified. Analytical results remaining to be reported on three drill holes that were completed in 2024 (drill holes CS-24-020, 022 and 023).

The primary objectives of drilling in 2024 were:

To confirm and expand upon the mineralized zone where the Property vendors worked in 2023 (the “CO1 Zone”).
Exploring the possibility of the connection of the wide, continuous pegmatite zones encountered in holes CS24-018 and CS24-010, located approximately 300 m apart.
Continuing to drill the large (1.9 by 1.5 km) surface mineralized area in a systematic grid-like manner with wide (200 m spacing) hole spacing, with infill drilling in areas with better results.

Analytical results have been reported for the first 14 holes of the 2024 season. Highlights include:

CS-24-021: Widest interval at 347.1 metres (“m”) at 1.35% Li₂O, including seven (7) higher-grade sub-intervals, including 30 m at 1.76% Li₂O.
CS-24-018: Widest interval of 215.6 m at 1.69% Li₂O, including 64.6 m at 2.29% Li₂O.
CS-24-010: Widest interval of 120.3 m at 1.72% Li₂O including 19.0 m at 2.06% Li₂O

The mineralized intervals in all the holes are not necessarily representative of the true width and the modelled pegmatite zones are being refined with every additional hole.

Scroll down to the summary tables section below to see the comprehensive data for all assays reported thus far.

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.