Q2 Metals Intercepts 179 Metres of Continuous Spodumene Pegmatite North of the Mineralized Zone at the Cisco Lithium Project in Quebec, Canada

The November 17, 2025, news release provides an update on the 2025 drilling campaign at the Cisco Lithium Project in Quebec. Key highlights from the release include: - Hole CS25-065 intercepted five spodumene pegmatite intervals, including the widest continuous interval to date of 179.2 metres. This hole was a step-out designed to test the northern limits of the system. - Hole CS25-063 intercepted 15 spodumene pegmatite intervals, including a 75.4-metre-wide interval. - These results are based on visual identification of spodumene-bearing pegmatite, and assay results for holes 40 through 65 are pending. - The drilling has successfully extended the known mineralized system to the north at shallow depths. - The company is working towards an inaugural mineral resource estimate (MRE), expected in Q1 2026, which will incorporate these new drill holes. The previously announced Exploration Target was based only on the first 40 holes.

The news is materially positive as it demonstrates the continued expansion of the mineralized system at the Cisco project. Intercepting a 179.2-metre continuous zone of visual spodumene pegmatite in a step-out hole (CS25-065) is significant, suggesting the system is larger than previously defined and remains open. This builds upon a consistent pattern of releasing wide, visually impressive intercepts throughout 2025.

Tracing the company's progress reveals a systematic and successful exploration strategy: - Early 2025: The winter drill program began, with initial visual results in March (CS25-027 intercepting 179.6m) extending the strike length to over one kilometre. By April, the strike length was reported at 1.5 km. - Mid-2025: The company announced a massive Exploration Target in July (215 to 329 million tonnes at 1.0% to 1.38% Li2O) based on the first 40 holes. This was a major milestone that framed the potential scale of the project. This was immediately followed by a successful, upsized $26 million flow-through financing at $1.00 per share in August, securing ample funding for continued exploration. Preliminary metallurgical results in August were also positive, suggesting strong recoveries are possible with a simple DMS circuit. - Late 2025: Drilling continued to deliver wide intercepts, including a 457.4-metre interval in hole CS25-044 (visual, announced September 10). The current news confirms this trend, extending the system northwards.

However, a critical risk persists: the reliance on visual estimates. The company has a growing backlog of pending assays (holes 40-65). While the consistency of visual spodumene across numerous holes is encouraging, the market has priced in significant success. The value of these intercepts can only be confirmed by assay results. The disclaimer in the news release explicitly states this: "The presence of any mineralization can only be confirmed with assaying."

The current news reinforces the potential outlined in the July Exploration Target and is a crucial step towards delivering the inaugural MRE in Q1 2026. While positive, the news does not eliminate the primary risk associated with the project: assay confirmation. The market's positive reaction (stock price moving towards 52-week highs) indicates high expectations are already built in. The release meets these expectations of continued expansion but does not yet exceed them until grades are confirmed.

Q2 Metals Corp. is a Canadian mineral exploration company focused on advancing its flagship Cisco Lithium Project. The project is located in the Eeyou Istchee James Bay region of Quebec, a globally recognized jurisdiction for hard-rock lithium exploration and development. The Cisco project consists of 801 claims covering over 41,000 hectares and is strategically located 6.5 km from the Billy Diamond Highway, providing excellent infrastructure access. The company is in the advanced exploration stage, having completed significant drilling aimed at defining an inaugural mineral resource estimate.