Extending Of Mineralization Within The Conceptual Pit

TORONTO - QC Copper and Gold Inc. reported initial assay results from its Q4 2021 drill program. Significant results were obtained in several drill holes, but most notable was hole OPM-21-122, which returned an intersection of 184.5 meters grading 0.32% Cu-eq, including 49.5 meters grading 0.70% Cu-eq.

"These results are notable because they extend mineralization into areas that were not well sampled or included in September's Mineral Resource Estimate. This hole clearly demonstrates the in-pit mineralization expansion potential relative to what was defined in our initial Mineral Resource Estimate. Priority step-out holes are planned to follow up to the east, west, and up-dip from Hole 122 as part of definition drilling to expand the in-pit mineral resource on the Springer-Perry deposit," said Charles Beaudry, Director and Vice President of Exploration.

As part of an updated mineral resource for the Springer-Perry deposits planned for late 2022, the geology is being re-interpreted from a vein and halo categorization to the domaining of global mineralized envelopes above a nominal cut-off grade of 0.2% Cu-eq using all historical and current drilling results. This is an important factor as the original vein envelopes defined by the Company were digitized before the 2021 drilling program, and many mineralized areas ended up outside the vein envelopes, defined as halos, and were either not included in the initial mineral resource estimate or were interpolated very conservatively in the 2021 Mineral Resource Estimate. The current phase of drilling is focused on areas that are yet to demonstrate geological continuity in order to increase the resource base within thee conceptual pit outline. It is also designed to better define low grade envelopes around mined out stopes.

Drilling started in late October and continued until December 20th with 23 holes completed for a total of 5,457 meters. A total of 3,423 core samples were submitted for analysis plus a suite of QAQC samples and assays continue to be received from this drilling. As of February 11th a total of 2,194 core assay results were received, and although a few batches are being reassayed due to QAQC issues.

Drilling restarted in early January 2022 and as of the February 13th a total of 2,597 meters have been drilled with 13 holes completed. A total of 1,633 samples have been collected and 1,496 samples were shipped to the laboratory for assaying. No assays have been received to date for any drilling done in 2022. The Company’s near-term priority is converting what may currently be considered waste into mineral resources within the Springer-Perry open pit. The Company believes this opportunity represents the lowest risk, highest return and most efficient way to grow the Opemiska Deposit.

Targeted areas outside the conceptual open pit will seek to test and confirm low-grade, open-pitable mineralization along with the Cooke-Robitaille mines structural corridor before undertaking systematic definition drilling in 2023.