Highlights:
- CS25-065: Five (5) separate intervals, including:
- 179.2 m at 1.24% Li2O; and
- 15.7 m at 1.48% Li2O.
- Drill hole CS25-065, located north of the known Mineralized Zone and west of the CO1 outcrop, extends the system to the north at shallow depths where mineralization was not expected.
- CS25-057: Six (6) separate intervals, including:
- 49.8 m at 1.41% Li2O; and
- 35.8 m at 1.51% Li2O.
- To date, a total of 74 drill holes for 31,961 m have been completed at the Cisco Project with assays pending on the remaining holes drilled during the winter 2025 campaign.
- Drilling has now resumed at the Cisco Project, with a four-rig program primarily focused on continued infill drilling towards indicated resource definition for inclusion in an inaugural Preliminary Economic Assessment, targeted for late 2026.
VANCOUVER, British Columbia, Jan. 22, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ("Q2" or the "Company") is pleased to report analytical results from the 2025 drill program (the "2025 Drill Program") completed in December at the Company's 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.
"We are excited to be back at the Cisco Project after a successful 2025 program during which we completed sufficient drilling for an inaugural inferred Mineral Resource Estimate that we expect to deliver this first quarter, with timing subject to receipt of all remaining 2025 assays," said Alicia Milne, Q2 Metals President and CEO. "The Exploration Target announced in July 2025 defined a potential range of tonnage and grade based on the first 40 holes on the Cisco Project and the next major milestone will be quantifying an official resource to benchmark the Cisco Project against global peers. We look forward to delivering on our stated goals in 2026 and continuing to add shareholder value."
"Drill hole 65 demonstrates the continued growth potential of the Cisco Project. This hole was designed to define the limits of the system but instead discovered that the trend extends beyond our expectations," said Neil McCallum, Q2 Metals Vice President of Exploration. "With the team now back at the Cisco Project and four drill rigs operating, we are eager to continue our infill drill program while potentially expanding upon the Mineralized Zone's known boundaries. Our primary focus this winter will be to upgrade the pending Inferred mineral resources to the indicated category as the Company works towards an inaugural Preliminary Economic Assessment for late 2026."
During the first half of 2025, two drill rigs were utilized to test the main mineralized zone ("Mineralized Zone") with large step outs between 200-400 metres ("m") apart.
The Company published an Exploration Target in July 2025 on the Mineralized Zone which 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 latter half of drilling in 2025 prioritized infill-scale drilling utilizing four drill rigs within the Mineralized Zone. The tightened drill spacing was designed to support the Company's objective of delivering an initial inferred Mineral Resource Estimate ("MRE") on the Cisco Project in the first quarter of 2026.
To date, a total of 74 drill holes for 31,961 m have been completed at the Cisco Project.
The analytical results reported herein represent 5,482.9 m of drilling over 16 drill holes completed during the 2025 Drill Program. Pegmatite intervals and analytical results are reported as they are received and reviewed.
Figure 1. Map of Recent Drill Holes with Analytical Results at Cisco Project
Figure 2. Cross-Section A
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 Results Discussion
Noteworthy analytical results reported herein 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 averaging 1.24% Li2O, 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. Additional work will be undertaken to understand the extent of mineralization in that area.
- Drill hole-57 at the southern end of the Mineralized Zone encountered a 49.8 m wide interval of mineralized pegmatite averaging 1.41% Li2O and is consistent with other drilling in the area.
- Exploration hole-52, located between the CO2 outcrop and the Mineralized Zone encountered an 18.1 m wide zone of mineralization averaging 0.68% Li2O at a vertical depth of about 100 m.
- 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 averaging 1.13% Li2O and drill hole-56 with a 31 m wide interval averaging 1.51% Li2O and 48.9 m wide interval averaging 1.44% Li2O.
Geological crews have mobilized to site and drilling has commenced with a primary focus on continued infill drilling for inclusion into an inaugural Preliminary Economic Assessment which is being targeted for late 2026. Exploration drilling may also be incorporated to test areas surrounding the Mineralized Zone.
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
Stock Option and Award Grant
Pursuant to the Company's Equity Incentive Plan and subject to the acceptance by the TSX Venture Exchange, the Company has granted 850,000 stock options to directors, officers, and consultants of the Company to purchase an aggregate of 850,000 common shares in the capital of the Company at an exercise price of $2.11 per share until January 22, 2031.
Q2's Equity Incentive Plan's objective is to promote the long-term success of the Company and the creation of shareholder value by aligning the interests of eligible persons under the plan with the interests of the Company. As such, the Company has also granted an aggregate of 976,303 performance share units (each, a "PSU"), 132,701 restricted share units (each, a "RSU") and 379,147 deferred share units (each, a "DSU") to certain directors, executive officers and consultants of the Company. The PSUs vest on the later of (a) one year after their date of grant and (b) the successful completion of specific key performance objectives that are assigned to each PSU. Any PSUs that have not vested on or before January 22, 2029 will expire. The RSUs shall vest in three equal tranches, with one-third vesting on each of the first, second, and third anniversaries of the date of grant and the DSUs vest one year after their date of grant and do not settle until a director ceases to serve as a director of the Company.
Once vested, each PSU, RSU and DSU will entitle the holder thereof to receive either one common share of the Company or the cash equivalent of one common share, as determined by the board of directors of the Company, net of applicable withholdings.
Upcoming Events
Members of the Q2 team will be in Vancouver, BC attending the Vancouver Resource Investment Conference ("VRIC") and AME RoundUp.
The Company will also be attending the following events:
| Prospectors & Developers Association Convention | Toronto, ON | March 1-4, 2026 |
| Investors Exchange - Booth 2726 | ||
| Quebec Day - Presenter | ||
| 121 Mining Event | Hong Kong | March 11-12, 2026 |
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 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 has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President Exploration for Q2.
ABOUT Q2 METALS CORP.
Q2 Metals is a Canadian mineral exploration company focused on 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, 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 2026 Exploration Program is ongoing, primarily focused on continued infill drilling towards indicated resource definition for inclusion in an inaugural Preliminary Economic Assessment, targeted for late 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.
