QC Copper and Gold Inc. announce that it has entered into an agreement to acquire a 10% interest in a private company that owns 100% of the Thierry Copper Project ("Thierry"), located in Pickle Lake, Ontario. Thierry is Ontario's largest primary copper resource and includes a recent PEA, covering only the underground portion of the known resources. Thierry's primary upside is the growth of its bulk tonnage potential.

Recent drill holes from September 20, 2023 supports this thesis: CCM-23-51 intersecting 106 metres of 0.539% Copper Equivalent ("CuEq") mineralization (including 23.2 metres of 0.875 % CuEq mineralization) within continuous sulphide mineralization which started at surface and extended 247.8 metres down the hole, grading 0.438% CuEq. CCM-23-52 intersecting 31.2 metres of 0.677% CuEq mineralization and 22.8 metres of 0.670% CuEq mineralization within continuous sulphide mineralization which started at surface and continued for 243.9 metres down the hole, grading at 0.382% CuEq. Copper Equivalent (CuEq) for drill intersections is calculated based on USD 3.75/lb Cu, USD 9.25/lb Ni, USD 1,190/oz Pd and USD 910/oz Pt with 100% metallurgical recoveries for all metals.

Assays have not been capped. The formula used for the calculation is: CuEq = Cu % + (Ni grade X Ni Price)/(Cu Price) + ((Pd grade) X (Pd price /31)) /(Cu price X 22) + ((Pt grade) X (Pt price/31)) /(Cu price X 22). Thierry is in the well-known and mature mining camp of Pickle Lake, Ontario, with access to rail, highways, power, and other infrastructure required to develop a mine.

This is a unique opportunity to participate in the development of an asset of this scale with this level of infrastructure that's in a premier mining jurisdiction. Eastern Canada is starved of high-quality primary copper projects. With this investment, QC Copper now has exposure to two of the five largest primary copper projects in Eastern Canada.

In addition to the current resources, the Thierry property hosts large discovery and expansion potential including at the J & G Zones, which hosts a historical resource of 55,000 kt at 0.40% Cu, 0.11% Ni (see disclosure on Historical Resources). Previous geophysical studies and drilling has shown significant upside throughout the property to delineate additional mineralized zones and resources. Moving forward, exploration will focus on reinterpreting the geology at the Thierry property and delineate further resources that can then culminate into a comprehensive PEA representative of the property's potential.