Quebec Precious Metals Congratulates Ophir on its Spodumene Discovery near the Elmer East Project, James Bay, Quebec

MONTREAL, QC / ACCESSWIRE / June 27, 2024 / Quebec Precious Metals Corporation (TSX.V:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM" or the "Corporation") congratulates Ophir Metals Corp. ("Ophir") on their discovery announced on June 25, 2024, of spodumene pegmatites (lithium) in pegmatite dykes at Pilipas in the Eeyou Istchee James Bay territory in Quebec. Ophir's discovery is located approximately 3.7 km northwest of its Ninaaskuwumin spodumene pegmatite its 100%-owned Elmer East project on the trend of this discovery (see Figures 1 and 2 below).

At Ninaaskuwumin, QPM reported assay values from the nine samples from the discovery outcrop range from 1.10% to 3.92% Li₂O (see press release of January 18, 2024). Based on the lithium assays and the fractionation level of the pegmatitic material, derived from the pXRF K-Rb ratios for muscovite and K-Feldspar, the surface mineralization has the potential to extend along a NW-SE 3.8 km-long trend. The results for the Ophir's Pilipas discovery are not necessarily indicative of the mineralization on QPM's Elmer East project.

"Ophir's discovery shows that the areas around both discoveries have the potential to host one of the largest spodumene pegmatite resources in the James Bay region. We are planning to sample and drill our Ninaaskuwumin spodumene pegmatite in late summer and early fall and wish Ophir the best of success in making additional lithium discoveries" commented Normand Champigny, CEO.

An updated corporate presentation is available on the Corporation's web site www.qpmcorp.ca

Qualified Person

Normand Champigny, Eng., Chief Executive Officer of the Company, and Qualified Person under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of this press release.

About Quebec Precious Metals Corporation

QPM has a large land position in the highly prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. The Corporation focuses on advancing its Sakami gold project and its newly discovered, drill-ready Ninaaskuwin lithium showing on the Elmer East project. In addition, the Corporation holds a 68% interest in the Kipawa rare earths project located near Temiscaming, Quebec.

For more information please contact:

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
[email protected]

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.

Figure 1

Figure 2

SOURCE: Quebec Precious Metals Corporation