Q-Gold Resources Announces Drill Program at Mine Centre Project Following Oversubscribed Financing

Renewed Drilling to Target High-Grade Gold at Mine Centre

Fresh off the heels of a successful oversubscribed financing, Q-Gold Resources Ltd. (TSXV: QGR, OTC: QGLDF) is gearing up to launch a new diamond drill program at its Mine Centre Project in Ontario. This exciting development follows impressive high-grade gold results from the 2022 drill campaign, promising further exploration of this prolific gold camp.

Details of the financing can be found in the Company's press release dated December 27, 2024, available on SEDAR+ at www.sedarplus.ca.

Building on Previous Success: Promising Historical and Recent Results

Q-Gold's 2022 drilling campaign at Mine Centre yielded exceptional results, with every one of the nine holes intersecting the targeted vein systems. Highlights include 5.9 g/t gold over 1.1 meters at the Bonanza vein near the historic Foley Mine (drillhole Q21-04). Resampling of historical core further revealed the potential of the area, with grades reaching as high as 46.5 g/t gold over 0.95 meters (Q-BV-12-07) and 54.1 g/t gold over 0.23 meters (Q-BV-10-01).

Adding to the excitement, visible gold was identified in two holes (Q22-14 and Q22-16). Subsequent metallic screen analysis confirmed the high-grade nature of these intersections, significantly boosting the initial assay results. For a complete breakdown of these findings, refer to the Company's press release dated March 27, 2023, also available on SEDAR+.

"We are very happy to restart exploration with another diamond drilling program," commented Dr. Andreas Rompel, Chief Executive Officer. "This time we plan to extend the knowledge of our auriferous veins along strike, and hope to achieve similar results compared to our previous campaigns with high grade gold and silver intersections.”

Corporate Updates: New Corporate Secretary and Stock Options Granted

Q-Gold also announced the appointment of Aaron Atin as Corporate Secretary, bringing his extensive experience as a corporate and securities lawyer specializing in the mining industry. Mr. Atin replaces Kenny Choi, who has resigned to pursue other opportunities. The Company expresses its gratitude to Mr. Choi for his contributions.

Furthermore, Q-Gold has granted 2,000,000 stock options to directors, officers, and consultants, subject to TSX Venture Exchange approval. These options are immediately vested and exercisable at $0.095 per share for a period of five years.

About the Mine Centre Property: A Historic Gold Camp with Significant Potential

The Mine Centre property encompasses over 10,000 acres within a historic gold camp dating back to the 1890s. The property boasts past production from the Foley Gold Mine (10,500 tons at 14 g/t gold) and the Golden Star Mine. Q-Gold's land package offers excellent access via Highway 11 and is strategically located near other significant gold discoveries, including Rainy River (New Gold) and Hammond Reef (Agnico Eagle).

Beyond the Foley and Golden Star Mines, the property holds several other promising prospects, including the McKenzie Gray Vein System, which has already seen extensive drilling confirming high-grade quartz veins, and the Manhattan and Fergus vein systems, offering further exploration potential.

Qualified Person and Cautionary Notes

The technical information in this release has been reviewed and approved by Jason Arnold, P. Geo., an independent Qualified Person under National Instrument 43-101.

Investors should be aware that the information contained herein includes forward-looking statements, which are subject to risks and uncertainties. While the Company believes its expectations are reasonable, actual results may differ materially. Furthermore, results from adjacent properties are not necessarily indicative of potential results at the Mine Centre Project.