Highlights
- $26 million flow-through financing completed in August 2025.
- Drilling at the Cisco Project has been ongoing since June 2025, and a total of 46 holes for 20,138 metres has been drilled to date. Assays are pending on all drill holes completed this summer.
- Three (3) drill rigs are currently operating at Cisco with a fourth expected to commence operation in November.
- Current drilling is focused on infill scale spacing of the main mineralized zone as the Company works towards an initial inferred Mineral Resource estimate at Cisco.
- Additional metallurgical test work is ongoing.
- Regional geological sampling and mapping work continues.
VANCOUVER, British Columbia, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ("Q2" or the "Company") is pleased to provide an update on exploration and drilling activities at the Cisco Lithium Project (the "Project" or the "Cisco Project"), located within the greater Nemaska traditional territory of the Eeyou Istchee James Bay region of Quebec, Canada.
Following the completion of a $26 million flow-through private placement financing on August 14, 2025, the Company has expanded its exploration program at the Cisco Project.
"Strong institutional support enabled us to complete the $26 million financing in August, which has allowed us to significantly ramp-up activities at Cisco," said Alicia Milne, President & CEO of Q2 Metals. "These funds have enabled Q2 to greatly accelerate our drill program, continue regional mapping and sampling programs, and expand on metallurgical test work. With three drill rigs now operating, our immediate focus is to advance the Cisco Project towards an initial inferred Mineral Resource estimate."
Drilling
The primary objective of the 2025 summer drill program has been infill drilling of the 1.5 kilometre ("km") northeast-southwest trending mineralized strike length identified at the Cisco Project (the "Mineralized Zone") utilizing one (1) drill rig. The drill program commenced in June 2025 and has now been expanded with three (3) drill rigs currently operating with a fourth drill rig anticipated to commence operations in November 2025.
BBA Inc., an independent consultant to the Company ("BBA"), prepared an exploration target on the Mineralized Zone (see news release of July 21, 2025) (the "Exploration Target"). The Exploration Target estimated a range of lithium mineralization at the Cisco Project of 215 to 329 million tonnes ("Mt") at a grade ranging from 1.0 to 1.38 % Li2O. The potential quantity and grade of the Company's Exploration Target 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.
The expanded drill program has been designed 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 with the aid of the geophysical targeting.
Figure 1: Drill rig with CO1 outcrop in the background
Metallurgy
Preliminary metallurgical test work was performed by SGS Canada Inc. on drill core samples collected during the Company's 2024 drill program . The results of first phase of metallurgical test work confirmed that strong recoveries could be achieved with a DMS circuit.
A second phase of metallurgy test work to expand upon the first phase results is currently being designed and is expected to commence in September 2025.
Regional Mapping & Sampling
