Q2 Metals Resumes Exploration Work at Its Mia Lithium Property in James Bay, Quebec

Vancouver, August 30, 2023 - Q2 Metals Corp. (TSXV: QTWO) (OTCQB: QUEXF) (FSE: 458) ("Q2" or the "Company") is pleased to announce the resumption of its exploration activities at the Mia Lithium Property (the "Property") located in the Eeyou Istchee James Bay territory of Quebec. The Quebec Ministry of Natural Resources and Forests has lifted its restrictions on forest access that has remained in place in the western James Bay region due to wildfires on and near the Property.

With the restrictions lifted, the Q2 geology team has mobilized and will immediately continue surface mapping/prospecting and rock sampling. The primary objective of the upcoming program is to explore and confirm drill targets along the approximately 8-km long Mia trend which is located within a greenstone belt. The secondary objective will be to assess the potential of the broader trends on the Property (see Figure 1).

"We are excited to get back to the Mia Property to continue our field work," said Q2 President and Chief Executive Officer, Alicia Milne. "We have a short window to conduct meaningful work before the culturally significant moose hunting season begins, which runs from September 15 to October 15, after which time we will return to the Property to continue our work. We will be assessing the Property, camp, and surrounding area given the forest fires, community evacuations, and restrictions that have been in place over the past 3 months and we look forward to updating the market as we progress."

"We have a plan in place to rapidly advance the known spodumene-bearing pegmatites and assess the high-priority trends," commented Q2 VP Exploration, Neil McCallum. "I have confidence that our experienced geological team at Dahrouge Geological Consulting will be able to maximize our time in the field prior to drilling. With our time cut short this summer, we have modified our drill plan to test the targets this fall as much as the weather will allow, and then return in the winter with a larger program."

Summary of June Exploration Work

In June 2023, Q2 completed a two-day mapping and sampling program of the historically known lithium pegmatites at the Property that resulted in the collection of 28 pegmatite samples. Six (6) samples were collected from spodumene-mineralized pegmatite and the remaining twenty-two (22) from non-mineralized pegmatite to broaden the understanding of the source-rock relationships, geochronology, and/or zonation of the pegmatite. A summary of the spodumene-mineralized samples is provided in Table 1.

Table 1 - Spodumene-mineralized samples from the June, 2023 site visit

Mia Zone

At the Mia Zone, the historically mapped spodumene-pegmatite was sampled and returned 2.73, 2.05 and 0.55% Li₂O. This successfully verified the 2021 and 2022 work by the Property vendors of 18 grab samples averaging 2.65% Li₂O.

The Mia Zone now measures a mapped extent of approximately 370 metres and is up to 140 metres wide. This represents an extension of approximately 130 metres to the north of the previously mapped extent. There are some inclusions of the host rock within these dimensions and there are unclear contacts in all directions leading to the inability to precisely report the true size of the pegmatite.

Figure 1. Mia Property Exploration Target Trends

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Carte Zone

At the Carte Zone, the historically mapped spodumene-pegmatite was sampled and returned three spodumene-mineralized samples of 2.01, 1.57 and 1.04% Li₂O. This successfully verified the 2022 work by the Property vendors of 3 grab samples averaging 1.65% Li₂O.

The Carte Zone measures a mapped extent of approximately 110 metres and is up to 30 metres wide. Like the Mia Zone, the contact relationship between the host rock and the pegmatite is unclear and additional work is needed to determine the true dimensions of the pegmatite. Additionally, the next pegmatite located approximately 250 metres to the west was sampled and returned 160 ppm Ta₂O₅.

Qualified Person

Neil McCallum, B.Sc., P.Geol, is a registered permit holder with the Ordre des Géologues du Québec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed the technical information in this news release. Mr. McCallum is a director and VP Exploration of Q2.

About Q2 Metals Corp

Q2 Metals Corp. is a Canadian mineral exploration company currently advancing exploration of its 8,668-ha flagship Mia Lithium Property in the Eeyou Istchee James Bay Territory of Quebec, Canada which is host to the Mia Li-1 and Mia Li-2 lithium occurrences. The Company also owns the Stellar Lithium Property with 77 claims totaling 3,972-ha, located approximately six kilometres north of its Mia Lithium Property.

Q2 is also exploring the highly prospective Big Hill and Titan gold projects covering approximately 110 km² in the Talgai Goldfields of the broader Warwick-Texas District of Queensland, Australia, hosting 54 high-grade historical gold mines.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Alicia Milne
President & CEO
Alicia@Q2metals.com

Jason McBride
Corporate Communications
Jason@Q2metals.com

Telephone: 1 (800) 482-7560
E-mail: info@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. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, 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, 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 profile at www.sedarplus.ca.

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