Q-Gold Resources Ltd. Announces Corporate Updates

TORONTO, May 09, 2022 - Q-Gold Resources Ltd (TSXV: QGR, OTC: QGLDF, FRA: QX9G) (“Q-Gold” or the “Company”) is pleased to announce the appointment of Peter Michel as the newly appointed Chief Financial Officer of the Company effective immediately. Mr. Michel will succeed Ryan Ptolemy.

Peter Michel is a CPA, CA and obtained a Bachelor of Accounting and Financial Management from the University of Waterloo. Mr. Michel formerly served in leadership roles in both public and private companies with most recent focus in healthcare. Additionally, he worked as a Senior Manager at BDO Canada LLP where he worked in its audit and assurance practice. He has expertise in strategic planning. financial reporting, budgeting, acquisitions, cash management and audit.

Management and the board of directors of the Company would like to thank Mr. Ptolemy for his services and continued support of the Company.


About Q-Gold Resources Ltd.

Q-Gold Resources (TSXV: QGR, OTC: QGLDF, FRA: QX9G) is a publicly traded Canada-based mineral exploration company targeting high-grade gold and silver discoveries in multiple jurisdictions. Q-Gold is currently exploring for gold at the past-producing Foley Gold Mine in Mine Centre, Ontario and for silver at the Surupana Property in the silver-rich altiplano region of Peru.



For further information, contact:

Q-Gold Resources Ltd
Dr. Andreas Rompel, Chief Executive Officer
Phone: 416 861 2267
E-mail: Andy.Rompel@qgoldresources.com
Website: www.qgoldresources.com



Cautionary Notes; Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding the appointment of officers of the Company, the Company’s work plans, the Company’s exploration plans and budgets for the Surupana Property and the Foley Gold Mine and the Company’s beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. In particular, the company cautions that the completion of the proposed acquisitions cannot be predicted with certainty, and that there can be no assurance at this time that the proposed acquisitions will be completed in the manner noted above or at all. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company's control. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.

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