Q-Gold sets PEA timeline, names Tagliamonte chairman

Executive Summary

• Q-Gold Resources provided a corporate update highlighting the advancement of its flagship Quartz Mountain gold project, including a confirmed timeline for the Preliminary Economic Assessment (PEA) and significant changes to its executive management team.
• The company announced a management transition where Stan Bharti steps down as Chairman to become a strategic advisor, Peter Tagliamonte transitions from CEO to Executive Chairman, and Jamsheed Mehta is appointed President.
• Operational updates include the initiation of exploration programs at the Mine Centre project in Ontario and planned summer/fall 2026 drilling at Quartz Mountain and Angel's Camp, with PEA results expected in April 2026.

Key Details

• PEA Timeline: The Preliminary Economic Assessment (PEA) for the Quartz Mountain project is on schedule, with results expected to be released in April 2026. The company believes the economics are highly favorable.
• Management Changes:
  • Stan Bharti: Stepped down as Chairman; transitioning to a strategic advisory role.
  • Peter Tagliamonte: Transitioned from CEO to Executive Chairman (retaining CEO title in the quote context, but explicitly appointed Executive Chairman in the body).
  • Jamsheed Mehta: Appointed President; brings 35+ years of capital markets experience, formerly Vice-Chair at BMO Capital Markets.
  • Stephen Woodhead: Appointed Chief Financial Officer; replaces Peter Michel (who becomes an advisor). Woodhead has 30+ years in the resource sector, including roles at Trans Hex Group and Desert Sun Mining.
  • Mark Albertson: Appointed Director of Government and Community Relations; focuses on Oregon stakeholder engagement.
  • Oregon Team: Catherine Callaghan (Director of Permitting and Community Affairs) and Wolfgang Schleiss (Director of Exploration) were previously appointed in February 2026.
• Quartz Mountain Project (Oregon):
  • Exploration: Surface and diamond drilling programs planned for summer and fall 2026 at Quartz Mountain and Angel's Camp to expand the resource base.
  • Mineral Resource Estimate (Effective Sept. 26, 2025):
    • Indicated: 1,543,000 oz Au @ 0.96 g/t and 2,049,000 oz Ag @ 1.27 g/t within 50,002,000 tonnes.
    • Inferred: 148,000 oz Au @ 0.77 g/t and 135,000 oz Ag @ 0.70 g/t within 5,992,000 tonnes.
  • Mining Method: Amenable to conventional open-pit mining.
  • PEA Contractor: Kappes, Cassiday & Associates engaged to conduct the PEA.
• Mine Centre Project (Ontario, Canada):
  • Detailed exploration program initiated for summer and fall 2026.
  • Focus: Advancing understanding of gold-bearing quartz vein stockwork systems to define new mineralized zones and expand the geological footprint.

Notable Quotes

• "Quartz Mountain is advancing on every front, and the momentum we have built over the past several months gives us tremendous confidence in the project's future... we are on track to release the results of the preliminary economic assessment in April, 2026." — Peter Tagliamonte, Chairman and CEO
• "The management transition we are announcing today is a natural and positive evolution for QGold. Stan Bharti built a remarkable foundation... Jamsheed Mehta's deep capital markets expertise... give me great confidence that we are well positioned to unlock the full value of Quartz Mountain for our shareholders." — Peter Tagliamonte
• "We are very pleased to welcome Mark Albertson to the Q-Gold team. Mark is exactly the kind of person you want representing a mining company in a rural community... His relationships with Lake County officials, state agencies, and community leaders are genuine and longstanding." — Peter Tagliamonte