Quebec Precious Metals Files Technical Report on Sakami Project; Starts Summer Field Program

MONTREAL, June 1, 2021 - Quebec Precious Metals Corp. ("QPM" or the "Company") (TSX.V: QPM, OTCQB: CJCFF, FSE: YXEP) is pleased to inform that it has filed a National Instrument 43-101 Technical Report (the "Report") for the Sakami Project (the "Project").

The Report was prepared by Messrs. Normand Champigny, Eng. and Richard Nieminen, P. Geo., of QPM, who are qualified persons under NI 43-101. The Technical Report can be found on the Company's website or under the Company's profile at www.sedar.com.

The Report presents an updated summary of the surface and drilling programs carried out on the Project since the publication of the November 24, 2017 NI 43-101 technical report submitted by SGS Canada for Canada Strategic Metals Inc. and Matamec Explorations Inc., and in particular the drilling campaigns completed in 2018, 2019 and 2020.

The Report clearly demonstrates that:

• there is considerable potential to host economic gold mineralization at the La Pointe deposit and La Pointe Extension area; and
• the Project warrants additional drilling to extend the known mineralization and to then be in a position to prepare a maiden NI 43-101 compliant mineral resource estimate.

QPM has completed the winter phase of the 2021 exploration work program (7 holes, 2,079 m). Assay results are being reviewed and will be released shortly. These results will be used to guide the summer field program. The program comprises an additional 12,000 m of drilling in 40+ holes. With the recently completed financing of $3.25M, the Company is fully funded to execute the 2021 program.

To execute this program, the Company relies on a highly experienced team with considerable knowledge of the area and gold exploration. The key team members that are leading the program are:

• Richard Nieminen, P.Geo., Senior Exploration Manager, with over 30 years of experience and who has participated in the discoveries of two mines in Quebec; and
• Jean-Sébastien Lavallée, Advisor, who has been working on the Project since the early 2000, with the Company and with Consul-Teck Exploration Minière Inc.

The Project provides the Company with a controlling position over a 23-kilometre-long segment of a favourable geological contact and comprises 281 claims (142 km²). It is located 570 km north of Val d'Or, Quebec, 120 km east of the municipality of Wemindji, 90 km from the Éléonore gold mine and 47 km northeast of the paved James Bay Road. Good infrastructure is present including major access roads, a hydro-powered electric grid and airports. Drilling can be carried out throughout the year.

Qualified Persons

Normand Champigny, Eng., Chief Executive Officer of the Company, and Richard Nieminen, P. Geo., Senior Exploration Manager, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to rapidly explore the project to advance it to the mineral resource estimate stage.

For more information, please contact:Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

Neither 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.

SOURCE: Quebec Precious Metals Corp.