Highlights:
- The largest drill program to date at the Cisco Lithium Project has begun, targeting approximately 20,000 metres of drilling over the summer months:
- Priority is on infill drilling of the main Cisco deposit area, with the objective of converting the existing Inferred mineral resource to the Indicated category.
- Significant expansion drilling is also planned in and around the 2026 Exploration Target area to test potential extensions to the Cisco Deposit.
- Regional exploration drilling on additional untested high-priority targets, including the CO2 outcrop to the east of the main deposit area is planned.
- Preparation of a Preliminary Economic Assessment is underway and will be based on the April 2026 Inferred Mineral Resource Estimate.
- Advanced metallurgical test work is in progress, with results expected in the coming months.
- Assays remain pending on nine drill holes from the 2026 winter drill program.
VANCOUVER, British Columbia, June 25, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) ("Q2" or the "Company") is pleased to announce the launch of the 2026 summer drill program (the "2026Summer 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.
Drilling commenced on June 17, 2026, with two diamond core drill rigs. Two additional rigs will start drilling over the course of the next week, and as the 2026 Summer Drill Program progresses, additional drill rigs may be mobilized to accelerate the work program. Approximately 20,000 metres ("m") of infill and exploratory drilling is planned, focusing on infill drilling of the Cisco Deposit to convert and advance the mineral resource from its current Inferred mineral resource classification to an Indicated mineral resource classification.
Potential zones of high-grade and/or near surface mineralization within the Cisco Deposit have been identified as priority targets for drill testing. Expansion drilling proximate to the deposit and the CO2 outcrop are also planned.
On April 20, 2026, the Company announced an Inferred Mineral Resource Estimate on the Cisco Project (the "MRE") which outlined a pit-constrained resource of 270 million tonnes ("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").
Alicia Milne, President and CEO of Q2 Metals, stated, "Q2 is focused on the continued advancement of the Cisco Project through the next stages of development. With the completion of our Inferred Mineral Resource Estimate in April, we have established a globally significant lithium deposit and are now turning our attention to the next major milestone, our initial Preliminary Economic Assessment. This study will provide the first comprehensive evaluation of Cisco's development potential and economics, representing another important step toward unlocking the project's long-term value. Backed by a strong treasury of more than $70 million, we are well positioned to execute these programs and continue advancing Cisco across technical, environmental, metallurgical, engineering and permitting workstreams."
"We have a busy summer ahead as we continue advancing the Cisco Project toward development. Our primary focus is infill drilling designed to upgrade the Mineral Resource from the Inferred to the Indicated category, an important step in supporting future engineering and economic studies. In parallel, baseline environmental work commenced in May, and Phase 2 of our metallurgical program is now underway. This work is designed to confirm the positive results from Phase 1 while evaluating recovery variability across different pegmatite textures, assessing the impact of wall-rock dilution on lithium recovery and iron content, and completing flotation trade-off studies to optimize recoveries under a range of process flowsheets," said Neil McCallum, Vice President of Exploration.
"During the 2026 Winter Drill Program, we completed approximately 10,515 metres across 19 drill holes, with the majority focused on infill drilling. Assay results for the remaining nine holes are pending and will continue to inform our understanding of the deposit as we work toward resource conversion and project advancement."
