QC Copper and Gold Inc. reported the results for its initial Mineral Resource Estimate on the Opemiska Project located in the Chibougamau District of Quebec. The Opemiska Deposit consists of 81.7M tonnes @ 0.88% CuEq of pit constrained Measured and Indicated Mineral Resources and 21.3M tonnes @ 0.73% CuEq of Inferred Mineral Resources. The Mineral Resource is pit-constrained and contains more than 532,000 tonnes or 1.17 billion lbs of copper and 816,000 ounces of gold in the Measured & Indicated (M&I) classification and an additional 109,000 tonnes or 240.3 million lbs of copper and 209,000 ounces of gold in the Inferred classification. Over 82% of the total Mineral Resource reports to the M&I classification. Opemiska's initial Mineral Resource includes over 1.05 million metres of drilling completed by QC Copper and former operators of the Project. Significant drilling density and extensive records from previous operators have supported a high-confidence Mineral Resource. Within the larger Mineral Resource, the Company has identified a high-grade potential starter pit of 10.6M tonnes of M&I Mineral Resources grading 1.26% CuEq. The Mineral Resources are pit constrained using pit optimization algorithms and a 0.2% CuEq cut-off, inclusive of $3.50/lb copper and $1,650/oz gold prices. The Company has outlined multiple targets for expansion and discovery drilling this coming winter. These targets include extensional drilling to expand the existing Mineral Resource envelope, proximal former mines including the adjacent Cooke & Robitaille deposits, and other prospective targets along the Gwillim and Beaver Lake fault zones. Beyond the current Opemiska Mineral Resource, the Company notes considerable potential to add additional Mineral Resources in the immediate vicinity of the conceptual open pit. Earlier work on the project by RPA Inc. in 2014 highlighted an exploration target at depth at Perry that spanned a range between 3 and 11 million tonnes at an average grade of 1.5% to 2.5% copper. To estimate this Mineral Resource QC Copper and Gold has digitized all the underground workings and veins down to the bottom of the historical Perry Mine. To the east of the Perry Pit, there has been some underground mining on the deep extensions of the K Veins, however, none of the excavations reached surface even though the veins themselves do outcrop. Drilling by QC Copper and Gold confirmed the presence of veins and disseminated material near the surface. Based on results obtained, the Company anticipates that with further drilling, additional Mineral Resources may be outlined in some satellite pits. Further east, in the vicinity of the historical Cooke and Robitaille mines, the mineralized zones are aligned with the Beaver Lake Fault Zone which occupies the hinge zone of the Beaver Lake Fold structure, a conjugate fold to the Springer anticlinal synform. This structural corridor has been drilled extensively by Falconbridge but only for high-grade underground-mineable veins. Sampling was sporadic to capture the high-grade veins and little or no sampling was done between veins although in many cases, the historical logs describe lower-grade mineralization that could be economic in an open pit mining scenario. A significant amount of drilling is required to test the entire corridor, which is approximately 500 metres wide and 3.5 kilometres in length with strong indications that mineralization occurs on both sides of the Gwillim Fault. The Opemiska Deposit is next to the Town of Chapais with a population of 1,609 (2019) and the Town of Chibougamau with a population of 7,559 (2020) is located approximately 40 kilometres to the east. The area has a rich history of mining and the resident population is favorably disposed to mining activities and hosts locally available skilled labour. Ample electrical power is available from a nearby substation on the James Bay powerlines which cross QC Copper's land holdings. An operational rail line is located within few kilometers from Chapais. Paved highways lead south to Lac St-Jean and Quebec City and southwest to Val d'Or and Rouyn-Noranda. Finally, the project is located in Quebec, the most mining friendly jurisdiction in Canada and north of the 49th parallel and as such is part of the Quebec government's Plan Nord initiative and could benefit from special fiscal and financial incentives. This Mineral Resource Estimate is based on an optimized open pit shell that encompasses the surficial part of the historical Springer and Perry mines, two underground operations that together produced 22.0M tonnes of ore at 2.40% copper and 0.33 g/t gold between 1953 and 1991 when the mines were closed and the camp decommissioned. The prevailing mine cut-off grade was approximately 1.5% copper over a minimum mining width of 5 feet (1.5m) and wall rocks contain a considerable amount of mineralization extending away from the veins, that was not economic for underground mining during the period of 1953-1991 but forms the bulk of the current Mineral Resource. The estimated block model has been tabulated at various CuEq cut-off grades. This tabulation does not represent a Mineral Resource in any way and only serves to illustrate the nature of the mineralization and sensitivity to various CuEq cut-offs. The Mineral Resource Estimate is material within the constraining pit shell above a 0.2% Cu-Eq cut-off grade. The Mineral Resource Estimate has an effective date of September 20, 2021, and a corresponding Technical Report disclosing the Mineral Resource Estimate in accordance with NI 43-101 will be prepared by P&E Mining Consultants Inc. for QC Copper and Gold Inc. Material within the constraining pit shell was classified according to Mineral Resource confidence classifications defined in CIM Definition Standards for Mineral Resources and Mineral Reserves. Data quality and quantity, geological and grade continuity, and confidence in the grade and bulk density estimates, were considered when classifying the Mineral Resource. Mineral Resources are classified as either Measured, Indicated or Inferred. Measured, Indicated and Inferred Mineral Resources were determined from respective search ranges of 30, 40 and 120 metres with a respective minimum of seven, four and one composites.