Highlights:
- Drill hole CS25-071 encountered eight (8) spodumene pegmatite intervals, with the widest continuous interval of 264.6 m, followed by an additional 152.9 m of continuous spodumene pegmatite.
- Drill hole CS25-074 encountered five (5) spodumene pegmatite intervals, with the widest continuous interval of 202.7 m, followed by an additional 96.8 m interval.
- Drill hole CS26-077 encountered two (2) spodumene pegmatite intervals, with the widest continuous interval of 107.8 m, followed by an additional 97.3 m interval. Unexpected mineralization was encountered at depth in drill hole CS26-077, thereby expanding the extent of the previously known mineralization.
- Drill hole CS26-078 encountered 13 spodumene pegmatite intervals, with the widest continuous interval of 240.4 m.
- The inaugural inferred Mineral Resource Estimate for the Cisco Lithium Project is currently being modelled by BBA Inc. and will incorporate all analytical results for drilling completed in 2025 as well as data from select holes that have been completed during the winter 2026 campaign which commenced in January.
- To date, a total of 37,372 m of drilling across 83 holes has been completed, with analytical results pending on all holes drilled in 2026.
VANCOUVER, British Columbia, March 23, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ("Q2" or the "Company") is pleased to provide an update on the winter portion of its 2026 drilling campaign (the "2026 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, where exceptionally robust intervals continue to significantly increase the extent of known mineralization.
2026 Inaugural Inferred Mineral Resource Update
The Company advises that completion of the Mineral Resource Estimate ("MRE") has been extended to allow for additional geological modelling work.
The MRE is being prepared on the main mineralized zone that was defined by an Exploration Target that the Company announced in July 2025 (the "Mineralized Zone") (the "Exploration Target"). The Exploration Target estimated 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. 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 size and complexity of the area upon which the MRE is being modelled includes multiple mineralized zones and a substantial volume of drilling data. Additional detailed interpretation has been required to ensure the model accurately captures the geometry and continuity of the mineralized system. This additional work is expected to strengthen the overall quality of the MRE.
The MRE is incorporating analytical data from the 74 holes drilled by the conclusion of the 2025 drill campaign. While the ongoing 2026 Drill Program continues to successfully extend the pegmatite beyond the current resource boundaries, as detailed further in this news release, analytical results for all holes drilled in 2026 remain pending and will not be incorporated into the MRE.
Where drilling density is sufficient, these additional holes may be used to support the expansion of the MRE. In less densely drilled areas, the interpreted extensions may be captured within an exploration target to highlight the Cisco Project's growth potential.
"We have opted to extend the timeline for completion of the MRE to enable BBA's detailed interpretation and modeling of the Cisco Project's mineralization to include this compelling data from our 2026 drilling. Cisco continues to deliver robust, industry leading drill intercepts across the Mineralized Zone, the inclusion of which will maximize both the quality and impact of the Company's first resource" said Alicia Milne, President and CEO of Q2. "We look forward to delivering an estimate that truly reflects Cisco's world-class potential."
"Drilling this winter continues to demonstrate strong continuity of spodumene-bearing pegmatite across the Mineralized Zone, with multiple wide intervals reinforcing the scale of the system," said Neil McCallum, Q2 Vice President of Exploration. "With assays pending for the most recent holes, geological logging confirms that the mineralization is extending beyond the current modelled limits, both laterally and at depth. We are excited to test other target areas outside of the main Mineralized Zone which we believe have the potential to contribute meaningfully to future resource growth."
Summary of Spodumene-Bearing Pegmatite Intervals
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.
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 71, 74 and 77 to 83 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 2026 Drill Program is focused on infill drilling within the Mineralized Zone that spans approximately 1.5 kilometres ("km") along the northeast-southwest trending strike length identified at the Cisco Project (Figures 1, 2, and 3).
Figure 1. Map of Drilling Area, Cisco Project
Holes 71 and 74 were started during the 2025 Drill Program and were completed this winter. As analytical results have not been received from these holes, they may not be included in the MRE however, they may be included in an exploration target to be completed in conjunction with the MRE.
The spodumene mineralization intercepted in each hole detailed in this news release continues to confirm and highlight the robust nature of mineralization at the Cisco Project. Noteworthy results of the drilling are as follows:
- Drill hole-71 confirms a large portion of the previously defined Exploration Target with 264.6 metres ("m") of continuous mineralization and defines a very wide extension at depth of 152.9 m (Figure 3). The hole ended in mineralization due to drilling difficulties.
- Drill hole-74 confirms a large portion of the previously defined Exploration Target with 202.7 m of continuous mineralization and defines a wide extension at depth of 96.8 m (Figure 3). The hole ended in mineralization due to the depth limitation of the drill.
- Drill hole-77 defines a wide interval of continuous mineralization of 107.8 m and is a roughly 100 m westward continuation of previously announced drill hole-65 that had a 179.2 m interval of continuous mineralization that averaged 1.24 Li2O (Figure 1, Figure 2).
- Drill hole-78 confirms a large portion of the previously defined Exploration Target with 240.4 m of continuous mineralization.
- Drill hole-83 confirms and extends the limits of the previously defined Exploration Target with 73.5 m of continuous mineralization (Figure 2).
Figure 2. Cross Section A, Cisco Mineralized Zone
Figure 3. Cross Section C, Cisco Mineralized Zone
2026 Drill Program
The 2026 Drill Program at the Cisco Project started in late January with four (4) drill rigs. The primary focus of the 2026 Drill Program is on continued infill drilling of the Mineralized Zone which is the subject of the MRE currently being prepared. Drilling is ongoing and both visual and analytical results will be reported upon when received.
Continued infill drilling of the Mineralized Zone over the course of the winter portion of the 2026 Drill Program will be used to inform an update to the MRE. Exploration drilling may also be incorporated in the 2026 Drill Program to test the expansion potential of areas outside of the Mineralized Zone.
Drill Hole Collar Information
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 Company's Qualified Person ("QP") has verified the QA/QC results of the analytical work.
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, a director and the Vice President Exploration for Q2, has reviewed and approved the technical information in this news release.
Upcoming Events
| Kinvest Mining & Energy Conference | Virtual | March 26, 2026 |
| Land and Environment Conference | Nemaska | April 7-9, 2026 |
| Ignite Conference | Singapore | April 21-22, 2026 |
ABOUT Q2 METALS CORP.
Q2 is a Canadian mineral exploration company 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 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, ~150 km to the south.
The Cisco Lithium 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 2026 Drill Program is ongoing, primarily focused on continued infill drilling towards indicated resource definition. Expansion and exploration drilling continues at the main mineralized 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.
