• Three (3) drill holes from the 2025 drill program with strong analytical results are reported herein:
  • CS25-036: nine (9) separate intervals, the widest being 272.5 m at 1.61% Li₂O.

• CS25-038: 17 separate intervals, the widest being 66.5 m at 1.55% Li₂O and
  58.9 m at 1.09% Li₂O.
  • CS25-039: 12 separate intervals, including:
    • 108.5 m at 1.62% Li₂O,
    • 71.0 m at 1.84% Li₂O,
    • 77.7 m at 1.48% Li₂O, and
    • 107.4 m at 1.87% Li₂O

• Three (3) drill rigs continue to operate on the Cisco Project, with a fourth scheduled to start at the end of October 2025.

• The upcoming drilling programs will be primarily focused on infill-scale drilling within the main mineralized zone, supporting the Company’s efforts to deliver an initial inferred Mineral Resource Estimate in the first half of 2026.

VANCOUVER, British Columbia, Sept. 29, 2025 (GLOBE NEWSWIRE) — Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or the “Company”) is pleased to report assay results from the ongoing 2025 drill program (the “2025 Drill Program”) 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.

“Hole 36, with its 272.5 metres of continuous spodumene pegmatite grading 1.61% Li₂O is a significant confirmation of the substantial width of the Mineralized Zone, especially when considered alongside intervals such as the 347 metres of continuous spodumene pegmatite in Hole 21,” said Neil McCallum, Vice President of Exploration for Q2 Metals. “Importantly, the Mineralized Zone remains open at depth and along strike, indicating strong potential for further expansion. Our geology team has designed a robust drilling program for the upcoming drilling program as we continue to define the extent of the Mineralized Zone and advance toward an inferred Mineral Resource estimate.”

The analytical results reported herein represent the first three (3) drill holes completed during the summer 2025 drill campaign.

As previously reported (see news release of June 10, 2025), hole CS25-036 was paused prior to the start of this year’s goose-hunting season break and ended before the intended completion depth. Several wide pegmatite intervals were intercepted, and assays were reported on the first 302 metres (“m”) of drilling completed during the winter 2025 drill campaign. The entirety of the assays on drill hole CS25-036 are now reported herein. The analytical results continue to confirm the robust width of the mineralized zone at this location.

Drill holes CS25-038 and 039 confirmed the mineralization at the southern portion of the mineralized zone with many intervals reporting greater than 1.5% Li2O. Drilling at the Cisco Project is ongoing, with three (3) drill rigs currently operating on site. A fourth drill rig has been mobilized to site and is scheduled to start at the end of October 2025, further accelerating the pace of the exploration program.

The primary focus of the fall and winter drilling campaign with be on infill-scale drilling within the main mineralized zone. The work is designed to support the Company’s objective of delivering an initial inferred Mineral Resource Estimate in the first half of 2026.

Pegmatite intervals and analytical results from the current program will be reported as they are received and reviewed.

Figure 1. Map of Recent Drill Holes with Analytical Results at Cisco Property

Figure 2. Cross-Section E, Hole-36 in relation to the Exploration Target

Table 1. Summary of Analytical Results of Drill Holes CS25-036, 038 and 039 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 5 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 Hole Collar Information

The summary of drill holes CS25-036, CS25-038 and CS-25-039, including basic location and dip/azimuth, is detailed below (Table 2).

Table 2. Summary of Drill Hole Collar Information, Cisco Project (CS25-036, CS25-038 and CS-25- 039)

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.

Upcoming Events

Q2 is attending the following conferences and events:

ABOUT Q2 METALS CORP.

Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay, Quebec, Canada.

Cisco is comprised of 801 claims, totaling 41,253 hectares, with the main mineralized zone just 6.5 km from the Billy Diamond Highway, which transects the Project and leads to the Town of Matagami, rail head of the Canadian National Railway, 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. 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.

Drill testing continues with mineralization open at depth and along strike with potential for expansion at the Cisco Mineralized Zone. The 2025 Exploration Program is ongoing, with rolling assay results anticipated in the coming weeks and months as the Company works towards an initial mineral resource estimate.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Investor Relations Manager
Jason@Q2metals.com

Chris Ackerman
Corporate Development
Chris@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

Follow the Company: Twitter, LinkedIn, Facebook, and Instagram

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, drilling results on the Cisco Project and inferences made therefrom, the conceptual nature of an exploration target on the Cisco Project, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, reallocation of proposed use of funds, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.com .  

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Founded in 2014, Hardline is a leading geological consulting firm operating in Western Canada. Hardline works directly with local contractors and first nations to ensure their projects receives the most efficient and dedicated exploration services available. They specialize in executing complex exploration programs to generate new discoveries and have a proven record of successful projects incorporating highly skilled geologists and team members.

2025 exploration program: Tim Fernback, president and CEO, commented: “We’re excited to have previously acquired approximately 275 km² of tenures in such a favourable mining region within British Columbia, Canada. This area of the province has already generated several promising projects, and our land package is strategically situated to exploit the high gold-copper values of the region.

“NorthWest Copper Corp. on the nearby Kwanika project intercepted 400 metres of 1.01% copper equivalent. Nearby the Mount Milligan open pit gold-copper mine operated by Centerra Gold recently announced its prefeasibility study that extended the life of its open pit mining by about 10 years. The area has proven itself to be a great place to look for both gold and copper. British Columbia is well known to be a safe and mining-friendly jurisdiction with reasonable government permitting processes and great mining infrastructure.”

Fernback continued: “We have recently concluded our initial exploration program on two of the five claim blocks recently acquired as part of our fall exploration phase 1. Here a large assaying, trenching, sampling and geophysics program was strategically situated within the Jupiter and Starlight claim blocks. We expect to have these assay results by the end of the fall with next exploration steps identified on the various claim blocks shortly thereafter.

“The exploration program follows up on previous work conducted by others in 2023 and includes geochemistry across various untested magnetic features on Starlight and Jupiter claims. The areas on these two large claim blocks include detailed soil sampling, mapping and prospecting on eight targeted areas for both gold and copper initially identified by our geological team.”

The company acquired a 100% interest in 17 mineral claims comprising 27,525 hectares (approximately 275 km²) located in north-central British Columbia. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services. Prominent among early discoveries in the Omineca region include the nearby Lustdust/Stardust copper-gold deposit; the Kwanika copper-gold deposit and the Lorraine copper deposit (all of which are owned by (NorthWest Copper).

The company’s claims are also located between Centerra Gold’s prominent copper/gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper.

B.C. Minfile assessment report data indicates that most of the area covered by the copper property was at one time or another covered by staking during surges of exploration in B.C. dating from the 1940s to present day. Largely, the claims appear to have been minimally explored with little follow-up. However, some work was recorded on several claims with results for stream sediment sampling showing anomalous to highly anomalous results for gold in a few areas. These areas were recommended for detailed follow-up; however, due to a downturn no further work was recorded.

The Omineca Group claim areas are within the northern Quesnel trough underlain by Cache Creek terrane and lies close to the Pinchi fault. The Quesnel trough hosts numerous porphyry copper-gold deposits. The Pinchi fault can be traced for 600 km through north-central B.C. and separates Cache Creek rocks from the Jurassic Hogem batholith and Triassic-Jurassic Takla rocks to the west. There are at least two alkalic gold-copper porphyry systems in the immediate Lustdust (now known as Stardust) area: J49 and Axel properties (Schiarrizza, 2000).

In other news, the company has announced that it has formally dropped the Volt Canyon lithium property from its Nevada lithium exploration portfolio.

The company had a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada, but accessing the property proved difficult and initial sampling results were considered average and not exceptional by the company’s geological team.

The company owns a 100% interest in the Texas Spring property which consists of mineral lode claims located in Elko County, Nevada. The property is in the Granite Range southeast of Jackpot, Nev., about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt formation. A phase 1 exploration program at the Texas Springs property (fall 2023) yielded average lithium grades of 2,010 parts per million, applying a 1,000 ppm cut-off and up to 5,610 ppm lithium.

The Texas Spring property adjoins the southern border of the Nevada North lithium project – owned by Surge Battery Metals Inc. and comprising 725 mineral claims. Surge’s first round of drilling identified strongly mineralized lithium-bearing clays. The average lithium content within all near-surface clay zones intersected in the 2022 drilling program, applying a 1,000 ppm cut-off, was 3,254 ppm. More recent results have shown higher-grade lithium up to 8,070 ppm on this property after initial drilling. The company’s exploration results are on trend with these results.

The company owns a 100% interest in 113 lithium lode and placer claims covering over 930 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great basin extension and is still active due to movement along the Walker Lane structural zone.

As a result, the basin has preserved multiple layers of lithium-bearing volcanic ash, resulting from multiple eruptive events over the past six million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium-rich clay deposits on the east side of Clayton Valley.

The property consists of 100% of 223 unpatented lode claims, which represent the core claims of the Gemini lithium project. Gemini is located in the Lida Valley near the town of Gold Point in Esmeralda County, Nevada.

As consideration, the purchaser will pay US$800,000 to the company in order to complete the acquisition of 100% of the 223 unpatented lode claims from the company. An initial non-refundable US$100,000 deposit was paid within five business days of the execution of the agreement, and a second and final payment of US$700,000 to be paid within 120 days of the effective date.

The timing of the final payment can be accelerated by the purchaser. In addition, the company will retain a 2% net smelter return (NSR) royalty for metals and minerals produced from the project, of which one-half (a 1% royalty) can be purchased by the purchaser for US$1-million. The transaction is arm’s length in nature and no finders’ fees are payable.

In accordance with Policy 2.5, the company has not maintained the requirements for a Tier 1 company. Therefore, effective Thursday, September 18, 2025, the company’s tier classification will change from Tier 1 to Tier 2.

The company said it will retain its existing trading symbols: PMET on the Toronto Stock Exchange; and PMT on the Australian Securities Exchange.

“The name change and corporate rebranding marks the next evolution of the company as development of the world-class Shaakichiuwaanaan project in Canada continues to advance, with the imminent completion of the feasibility study and continued strong progress with permitting and stakeholder engagement,” the company said in a press release.

“The evolution of the company’s brand to PMET Resources is consistent with its growth as a diversified global critical minerals company, focused on becoming a reliable long-term supplier of critical minerals to key North American and European markets.”

In line with this shift, the company said its tagline will evolve from “North America’s lithium powerhouse” to North America’s critical-mineral powerhouse,” reflecting the broader geological endowment of Shaakichiuwaanaan. In addition to lithium, the project has tantalum, caesium and gallium resources, with the potential to deliver world-class supplies of each of these highly strategic metals.

Patriot Battery shares on Tuesday eased 1.1% or $0.04 to $3.55. The shares trade in a 52-week range of $4.73 and $1.68.

Patriot Battery Metals is a hard-rock lithium exploration company focused on advancing the 100%-owned Shaakichiuwaanaan property (formerly known as Corvette), located in the Eeyou Istchee James Bay region of Quebec Canada. The property is accessible year-round by all-season road and is proximal to regional power line infrastructure.

Patriot Battery was in the news recently when the company said it has confirmed that its Shaakichiuwaanaan lithium property hosts the world’s largest pollucite-hosted caesium deposit.

The announcement came after the company declared a maiden Ceasium mineral resource estimate (MRE) in two zones. It said the Rigel Caesium Zone hosts an estimated indicated resource of 163,000 tonnes at 10.25% Cs2O, 1.78% Li20 and 646 ppm Ta205. The Vega Caesium Zone contains an indicated resource of 530,000 tonnes at 2.61% Cs02, 2.23% Li20, and 172 ppm Ta205. On top of that is an inferred resource of 1.7 million tonnes at 2.40% Cs20, 1.81% Li20 and 245 ppm Ta205.

The caesium zone MRE for Rigel and Vega is hosted within the open-pit resource component of the CV13 pegmatite – which forms part of the company’s consolidated MRE for the project (including both the CV5 and CV13 pegmatites) – has a total contained caesium metal content of 30,500 tonnes of Cs20, indicated and 40,800 tonnes of Cs20 inferred. Coincident with the pollucite-hosted caesium at Rigel and Vega is high-grade lithium and tantalum, respectively, which may be co-recovered as separate concentrates.

Due to its high density, low toxicity, biodegradable nature, and recoverability, cesium is used to support the completion of oil and gas wells at high pressure and temperature. Caesium is also used in atomic clocks, GPS, aircraft guidance and telecommunications.

The target at Falcon West is the Lucy South cesium zone that has seen historical drill intercepts with high-grade cesium values largely contained in the mineral pollucite, the preferred feedstock for the cesium chemicals industry. Grid’s upcoming drilling will mark the first concerted effort to define a discrete cesium zone at the property.

Cesium is listed as a rare critical metal by both the Canadian and Unites States governments. The rare metal has only been mined from three deposits globally, and there is currently a global shortfall of cesium feedstock to supply a growing number of applications, including strategic defence applications and next-generation solar panels.

Robin Dunbar, President and CEO, stated: “Grid believes Falcon West represents a unique opportunity for the company to advance a high-demand and rare critical metals project in southeastern Manitoba, in an area with excellent infrastructure. It is rare to find a critical metals project with such an attractive combination of resource scarcity and demand. Our goal at Falcon West is to define a cesium deposit of importance to the global cesium industry.”

Grid Metals is focused on exploration and development in southeastern Manitoba with four key projects in the Bird River area.

The Makwa Property (Ni-Cu-PGM-Co), which is subject to an Option and Joint Venture Agreement whereby Teck Resources Limited [TSX: TECK.B; TECK.A; NYSE: TECK] can earn up to a 70% interest in Makwa by incurring a total of CAD$17.3 million, comprising project expenditures (CAD$15.7 million) and cash payments or equity participation (CAD$1.6 million) with Grid. Makwa is located on the south arm of the Bird River Greenstone Belt.

The Mayville Property (Cu-Ni) is located on the north arm of the Bird River Greenstone Belt. The property is owned subject to a minority interest.

The Donner Property (Li-Cs) is adjacent to the Mayville Property, and Grid owns 75% of the project. Grid announced a cesium purchase agreement with Tanco on February 18, 2025.

The Falcon West Property (Li-Cs) is located 110 km east of Winnipeg along the Trans-Canada highway and contains highly anomalous cesium values in a number of historical drill holes including 2.2 metres at 15.0% Cs₂O and 3.2 metres at 4.6% Cs₂O.

All of the company’s southeastern Manitoba projects are located on the ancestral lands of the Sagkeeng First Nation with whom the company maintains an exploration agreement.

• Drill hole CS25-044 encountered three (3) spodumene pegmatite intervals, with the widest continuous interval of 457.4 metres, along with an additional 36.9 metre interval.
• Drill hole CS25-038 encountered 22 spodumene pegmatite intervals, including a 58.9 metre wide interval, along with a further 58.3 metre and 31.8 metre interval.
• Drill hole CS25-039 encountered 13 spodumene pegmatite intervals, including a 108.5 metrewide interval,along with a further 99.7 metre, 77.7 metre and 71.0 metre interval.
• Drill hole CS25-040 encountered 12 spodumene pegmatite intervals, including a 95.1 metre wide interval, along with a further 81.9 metre and 66.5 metre interval.
• A total of 46 holes for 20,138 metres have been drilled on the Cisco Project to date, with assays pending on the eight (8) holes drilled during the summer 2025 drill campaign.
• Three (3) drill rigs are currently operating on the Cisco Project, primarily focused on infill scale spacing of the main mineralized zone, as the Company works towards an initial inferred Mineral Resource estimate.

Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458) (“Q2” or the “Company“) is pleased to announce an update from the summer 2025 infill drilling campaign (the “Summer 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.

Multiple wide intercepts of continuous spodumene pegmatite were encountered within the eight (8) holes drilled, for a total of 4,603 metres (“m”), during the Summer Drill Program that launched mid-June. All eight (8) holes intercepted pegmatite with visual indications of spodumene mineralization identified.

“Hole 44, with its 457-metre-long intercept, has far exceeded our expectations. The Mineralized Zone also remains open at depth and along strike and there remains potential for significant expansion. Our geology team has designed a robust drilling campaign for the fall & winter as we continue to define the Mineralized Zone and work towards an inferred Mineral Resource estimate,” said Neil McCallum, Q2 Metals Vice President of Exploration.

“The visual results from our Summer Drill Program are giving us a clearer picture of the Mineralized Zone at Cisco,” said Alicia Milne, President and CEO of Q2 Metals. “The scale and consistency of the spodumene-bearing pegmatite intercepted to date reinforces the long-term potential of the Cisco Project. With a strong treasury in place, we are well positioned to continue our drill campaign and advance our strategy to unlock the full value of Cisco.”

Figure 1. Q2 Geologists with Core from Hole 39

Summary of Spodumene-Bearing Pegmatite Intervals

The pegmatite intervals (greater than 2 m) of drill holes CS-25-038 to 045 are reported below in detail (Table 1):

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.

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.

The geological team has completed the core cutting and logging of holes CS25-038 to CS25-045 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 summer drill program was designed to continue to drill within the main mineralized zone that spans approximately 1.5 kilometres (“km”) northeast-southwest trending mineralized strike length identified at the Cisco Project (the “Mineralized Zone”) (Figures 2, 3, 4 and 5).

An Exploration Target, prepared for the Company by independent consultant BBA Inc., encompassed the Mineralized Zone and included 40 holes completed for 16,167.8 m as at July 21, 2025 ¹. The estimated range of potential mineralization and grade at the Mineralized Zone is from 215 to 329 million tonnes (“Mt”) at a grade ranging from 1.0 to 1.38 % Li₂O (see press release of July 21, 2025).

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 potential quantity and grade of the Exploration Target on the Cisco Project 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.

Figure 2. Map of Drilling Area, Cisco Project

Holes 38 and 43 were infill spaced holes located mid-way and 100 metres between two previously reported holes 21 and 23 which contained wide intervals of spodumene pegmatite. The pegmatite intervals of holes 38 and 43 are numerous with the most significant ones located close to surface (shallower than 200 metres from surface).

• Hole 21 reported a 347.1 m wide interval at 1.35% Li₂O, including seven (7) higher-grade sub-intervals, including 30 m at 1.76% Li₂O; and hole 23 reported 188.6 m at 1.56% Li₂O, including 26.0 m at 2.03% Li₂O.

Holes 39 and 45 were infill spaced holes located mid-way between previously reported holes 23 and 27.

• Hole 27 reported a 179.6 m wide interval at 1.66% Li₂O, 58.0 Metres at 1.75% Li₂O, and 91.8 Metres at 1.81% Li₂O.

Holes 40 and 42 were infill spaced holes located mid-way between previously reported holes 18 and 21 and on the same grid-line as partially reported hole 36.

Hole 41 is an infill spaced hole, located between previously reported holes 21 and 10.

Hole 44 is an infill spaced hole, located on the same grid-line as previously reported hole 23 and significantly widens the known mineralization in that area of the zone.

Figure 3. Cross Section D (Looking Northeast)

Figure 4. Cross Section E (Looking Northeast)

Figure 5. Long Section of all drill holes of the main zone at Cisco.

The expanded drill program for the fall and winter will continue 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 geophysical targeting.

Sampling, Analytical Methods and QA/QC Protocols

All drilling is conducted using a 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 has been 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.

Drill Hole Collar Information

The summary of drill holes completed to date, including basic location and dip/azimuth is detailed below (Table 2):

Table 2. Summary of Drill Hole Collar Information, Cisco Project (CS25-038 to CS25-045)

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 G├⌐ologues 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.

Upcoming Events

Q2 Metals is hosting a site tour at the Cisco Project in mid-September and will be attending the following conferences and events:

ABOUT Q2 METALS CORP.

Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay, Quebec, Canada.

Cisco is comprised of 801 claims, totaling 41,253 hectares, with the main mineralized zone just 6.5 km from the Billy Diamond Highway, which transects the Project and leads to the Town of Matagami, rail head of the Canadian National Railway, 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. There has been insufficient exploration to estimate and define a Mineral Resource, as defined by NI 43-101, and it is uncertain if further exploration will result in the target being delineated as a Mineral Resource.

Drill testing continues with mineralization open at depth and along strike with potential for expansion at the Cisco Mineralized Zone. The 2025 Exploration Program is ongoing, with rolling assay results anticipated in the coming weeks and months as the Company works towards an initial mineral resource estimate.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Investor Relations Manager
Jason@Q2metals.com

Chris Ackerman
Corporate Development
Chris@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@Q2metals.com

WWW.Q2Metals.com

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Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, drilling results on the Cisco Project and inferences made therefrom, the conceptual nature of an exploration target on the Cisco Project, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company’s expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, reallocation of proposed use of funds, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

In conjunction with the fall drill program, the company has signed a new Right of Entry and Exploration Agreement for 2025 with the Salmon River Cattleman’s Association (SRCA). This agreement secures access to drill five of the nine planned holes located on private surface lands owned by the SRCA. The remaining four holes will be completed on adjacent public lands administered by the Bureau of Land Management for which Surge expects approval of its Work Plan soon.

Greg Reimer, CEO and Director, commented, “We are excited to get the drills turning again at Nevada North for this highly strategic program. Finalizing this fall’s program directly facilitates the work that will underpin our future PFS. Our primary goal is to significantly upgrade the confidence in our existing mineral resource which is a major value-driver and de-risking milestone on our path to becoming a domestic supplier of battery-grade lithium.”

2025 Drilling Program Highlights: Targeted Core Drilling: The program will consist of nine core holes totaling approximately 4,500 feet (1,370 metres). The holes are designed to average 500 feet in depth to intercept all three of the upper, high-grade lithium clay horizons.

Significant Resource Upgrade: A primary objective is to convert the majority of the project’s current Inferred Mineral Resource to the Indicated category, with the potential to upgrade a substantial portion (up to or exceeding 40%) to the Measured category.

Key PFS Data Collection: The program is engineered to be multi-purpose, providing essential data beyond assays. This includes Geotechnical Data: Core samples for pit slope and mine design analysis. Hydrogeological Data: Packer testing and installation of Vibrating Wire Piezometers to characterize groundwater conditions, critical for permitting and project design.

The drilling program is scheduled to begin in early September and is expected to be completed by the end of October 2025.

Surge Battery Metals, a Canadian-based mineral exploration company, is at the forefront of securing the supply of domestic lithium through its active engagement in the Nevada North Lithium Project. The project focuses on exploring clean, high-grade lithium energy metals in Nevada, USA, a crucial element for powering electric vehicles.

The company owns the Nevada North Lithium Project located in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Elko County, Nevada.

The first three rounds of drilling, completed in 2022, 2023, and 2024, identified a strongly mineralized zone of lithium bearing clays occupying a strike length of more than 4,300 meters and a known width of greater than 1,500 metres. Highly anomalous soil values and geophysical surveys suggest there is potential for the clay horizons to be much greater in extent, while wide drill spacing allows for significant upside to occur during infill drilling.

The Nevada North Lithium Project has a pit-constrained Inferred Resource containing an estimated 8.65 Mt of Lithium Carbonate Equivalent (LCE) grading 2,955 ppm Li at a 1,250 ppm cutoff. The recently completed PEA reported an after-tax NPV_8% US $9.17 Billion and after-tax IRR of 22.8% at $24,000/ t LCE and an OPEX of US $5,243/t LCE.

Proposed transaction summary – Phase 1: Under the terms of the LOI, Consolidated Lithium may earn a 60% interest in the project and be appointed as its operator in exchange for payments and issuances of common shares of the company totalling an aggregate of $23.15 million within five years following the closing date of the proposed transaction, allocated as follows (in each case subject to and in accordance with the rules and policies of the TSX Venture Exchange): $5.65 million in cash to Soquem; $5.50 million payable to Soquem in common shares of the company, at a deemed price per share to be mutually agreed by the parties; and $12.00 million invested in the project to advance the following key stages of the project’s development: negotiation and ratification of an impact and benefit agreement with the Innu of Takuaikan Uashat mak Mani-utenam; metallurgical study to confirm environmental viability of extraction and processing of rare earth in the region of the project; environmental permitting from the Bureau d’acceleration de projects; initiation of at least a 5,000-metre drilling campaign for potential expansion of project’s resources; and initiation of a bankable feasibility study to evaluate the technical and economic viability of the project.

Phase 2: Consolidated Lithium to acquire an additional 20% undivided interest in the project, for a total of 80%.

Following completion of phase 1, Consolidated Lithium may earn an additional 20% interest in the project (for a total of 80%) in exchange for payments or issuances of common shares of the company totalling an aggregate of an additional $22.00 million within three years following completion of the phase 1 term, allocated as follows (in each case subject to and in accordance with the rules and policies of the TSX Venture Exchange): $4.50 million in cash to Soquem; $4.50 million payable to Soquem in common shares of the company, at a deemed price per share to be mutually agreed by the parties; and $13.00 million invested in the project to advance the following project milestones: completion of the feasibility study; access road construction; electrical transmission line construction; underground mine construction; and processing facility construction.

The LOI also contemplates the following: Soquem has granted Consolidated Lithium a legally binding exclusivity period respecting the project, ending on October 31, 2025.

Consolidated Lithium will be entitled to enter into discussions with Soquem and Investissement Quebec to acquire the remaining 20% interest in the project.

Consolidated Lithium anticipates financing the proposed transaction through a combination of internal and external project financing resources, the support of existing shareholders, and the assistance of financial advisers.

Throughout phases 1 and 2, Consolidated Lithium expects to act as project operator in collaboration with Soquem. Consolidated Lithium anticipates that the definitive agreement respecting the proposed transaction shall be negotiated and executed by the end of the exclusivity period, being October 31, 2025.

The project consists of mining claims, applications, leases or other forms of mineral rights hosting an iron oxide copper/gold style mineral system with significant rare earth enrichment, particularly neodymium, praseodymium, dysprosium, yttrium and terbium.

The project is located near established infrastructure, including the QNS&L rail line and the Port of Sept-Iles, and the company believes it can benefit from access to Quebec’s hydroelectric power grid.

Soquem has conducted extensive exploration, geophysics and metallurgical testwork to date, which the company believes establishes a foundation for the advancement toward feasibility.

Richard Quesnel, CEO of Consolidated Lithium, commented: “This LOI with Soquem represents a unique opportunity to potentially partner with a Quebec-government-backed entity on what we believe to be one of the province’s most strategically important rare earth assets. With a forecasted demand increase for NdPr and heavy rare earths, we anticipate that the project positions CLM as a potential key supplier to North American and European supply chains. The phased earn-in structure described in the LOI ensures disciplined capital allocation as we advance this project toward development.”

Following the closing of the transaction, Nevada Sunrise will retain 26 unpatented lode claims located immediately to the west of the claims.

The purchase price for a 100% acquisition of the claims by Dome Rock is US$800,000 (approximately CAD$1.1 million) in cash, paid to the company in accordance with the following schedule: an initial non-refundable US$100,000 deposit was paid within five business days of the execution of the agreement; a second and final payment of US$700,000 to be paid within 120 days of the effective date. The timing of the final payment can be accelerated by the purchaser.

Nevada Sunrise will retain a 2.0% Net Smelter Returns royalty for metals and minerals produced from the Project, of which one-half (1.0%) can be purchased by Dome Rock for US$1.0 million.

Nevada Sunrise holds interests in gold, copper and lithium exploration projects located in Nevada, USA.

Nevada Sunrise holds the rights to earn 100% interests in the Griffon Gold Mine Project located approximately 50 km (31 miles) southwest of Ely, Nevada, and in the Coronado Copper Project, located approximately 48 km (30 miles) southeast of Winnemucca, Nevada.

Nevada Sunrise owns 100% interests in the Gemini (currently the subject of an option-to-purchase agreement), Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, Nevada. The company owns a 100% interest in Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Lida, Nevada.

The results of the latest mineral resource estimate (MRE) include 931,038 tonnes of indicated lithium carbonate equivalent (LCE) with a weighted average of 141 mg/L of lithium, and 1.12 million tonnes of inferred LCE with a weighted average of 112 mg/L lithium. The company said the total resource has increased by over 78.5% from earlier estimates.

Other highlights from the latest upgrades include confirmation of production capabilities from the first horizontal well in the project area, along with production swab tests in multiple zones from EMP test wells.

EMP shares were unchanged at 32.5 cents and trade in a 52-week range of 53 cents and 21.5 cents.

“This is a tremendous increase in resource for EMP,” said EMP CEO Karl Kottmeier. “We have been well rewarded for the risk taken in completing the first lithium exploration horizontal well drilled in Canada,” he said. “The large increase in our resource, without sacrificing lithium grade, is also a huge achievement and further confirmation of our high-quality brine.”

Kottmeier said the announcement is perfectly timed to support Project Aurora, the company’s demonstration plant development (see details below).

“Since the last technical update, EMP has expanded its land position by more than 20%, adding over 6,700 hectares of prospective lands in the Viewfield and Mansur permit areas, with total combined landholdings exceeding 83,000 hectares in Southeast Saskatchewan,” the company said in a press release.

EMP is a lithium exploration and development company with a focus on large-scale resources using direct lithium extraction (DLE) technology. EMP owns 100% of Hub City Lithium, a private entity which controls the leased land covering the Mansur and Viewfield projects targeting the Duperow formation. It holds that interest following a share exchanged deal with ROK Resources Inc. [ROK-TSXV, ROKRF-OTCQB], which exchanged its 25% stake in Hub City for 17 million shares of EMP.

In a press release on May 29, 2025, EMP said it has entered into a lithium plant demonstration agreement with Saltworks Technologies Inc. to develop, build and operate a lithium refining demonstration plant at EMP’s Viewfield project. It said “Project Aurora” will build on the success of a lithium conversion pilot program already completed and marks a high step forward towards commercializing the company’s lithium-brine portfolio.

The agreement requires Saltworks to design, build, and commission a wellhead connected, continuous flow Demo Plant to process ten (10) m 3/day of raw lithium brine into refined and concentrated lithium chloride (CLC).

Saltworks will also upgrade its already established lithium conversion plant located in Richmond, B.C., to continuously process CLC into lithium carbonate.

At Viewfield, a preliminary economic assessment (PEA) has outlined estimated production (282,090 tonnes) of battery-quality lithium carbonate equivalent (LCE) over a 23-year period. The PEA envisages average annual production of 12,175 tonnes.

The goal of Phase 1 is to fully operationalize the DLE system and associated polishing and purification units to produce a high-quality lithium chloride, which will support the production of battery-grade lithium carbonate.

All major equipment for Phase 1 has arrived on site. The DLE system and associated polishing and purification units, previously announced on July 10, 2025, are now fully assembled. Crews continue to assemble and incorporate supporting infrastructure, with the final mechanical and electrical checks underway.

The company expects to complete the assembly of the remaining equipment within the next week, with final mechanical and electrical checks completed shortly thereafter. The system will then undergo final inspection and an extensive operational review to assess equipment performance and identify any damage that may have occurred during transportation to the site.

Assuming no major issues are identified through the operational review, the company is targeting to begin commissioning by the end of August. Commissioning will commence with the introduction of brine, which has been previously stored on site for this purpose, and will focus on ensuring operational efficiency of the DLE system.

“The E3 team has been working very hard to advance the construction of Phase 1 of our Demonstration Facility,” said Chris Doornbos, President and CEO. “I am very excited to see E3 Lithium be in the position to complete the assembly of the equipment and commencing the commissioning within the coming weeks.”

The shutdown of the CATL lithium mine in Jiangxi province China has triggered significant reactions across the global lithium market. In the immediate aftermath of the announcement, lithium prices surged dramatically, reflecting the broader concerns about supply shortages. Stocks of major lithium producers shot up, with companies like Tianqi Lithium Corp. and Ganfeng Lithium Group Co. witnessing increases of up to 21%. U.S. lithium producers also benefitted in the premarket trading, with shares of Albemarle Corp. and Piedmont Lithium Inc. jumping over 10%.

The CATL mine, which is a crucial contributor to the global lithium supply, accounted for approximately 6% of total output. Market analysts speculate that the mine closure may be indicative of looming supply chain issues and potential further cuts in production across Chinaâ€s lithium sector. The uncertainty surrounding the operation has heightened fears about a broader pullback from lithium mining, sparking investor caution.

As a direct consequence of the mine’s closure, lithium carbonate futures exhibited a substantial spike on the Guangzhou Futures Exchange, climbing by the daily limit of 8%. Prices surged from 75,000 yuan per ton to 81,000 yuan, showcasing the heightened demand amid tightening supply. Historical price data indicates that lithium prices have been volatile, influenced by a mixture of oversupply and increased demand, particularly in the electric vehicle (EV) sector.

Analysts have posited that while the immediate impact of CATL’s shutdown may inflate prices, longer-term dynamics will depend on how supply and demand balance out. Several experts believe that this event could catalyze a rebalancing of the lithium market over the coming months, as stakeholders reevaluate their supply strategies and pricing models.

The implications of CATL’s mine shutdown extend beyond immediate market reactions, pointing to potential regulatory changes in China’s lithium mining sector. Observers suggest that the government may impose stricter regulations as part of its broader anti-involution strategy, which aims to address overcapacity and promote sustainable growth. This initiative has already prompted scrutiny of several mining operations in regions like Yichun, where non-compliance in registration and approvals has been reported.

The regulatory environment could drastically affect future mining operations, potentially leading to decreased production capacities in the long run. Analysts speculate that if additional mining closures occur, the resulting limitations on lithium output will further escalate prices, compelling manufacturers to adapt their strategies accordingly.

The global ramifications of CATL’s mine closure have not gone unnoticed in the Australian lithium market, where stocks rallied significantly. Producers such as PLS Ltd. and Liontown Resources Ltd. experienced share price increases of 20% and 25%, respectively. This Australian response highlights the interconnectedness of global lithium markets, with domestic producers poised to capitalize on supply constraints stemming from China.

The rally in North American stocks coincided with a re-evaluation of the competitive landscape, wherein local producers could fill the anticipated supply gap left by the Chinese market disruptions. This has resulted in optimism regarding increased interest in lithium projects in North America, as stakeholders strive to capitalize on the shifting dynamics.

Nevertheless, the future outlook remains contingent upon ongoing developments not only within the Chinese supply chain but also regarding global demand trends, particularly as electric vehicle production continues to rise.