QcX Gold Corp. has received assays results from the 51 grab samples collected from the Kali East Block of its Golden Giant Project, located in the James Bay region of Québec. This was the initial prospecting for QcX on the most easterly block of claims at Golden Giant since acquiring Kali East in 2020.

The Kali East Block of the Golden Giant Project lies only 6 km to the northwest of Allkem Limited's James Bay Lithium project (also known as the Galaxy project), which is the largest lithium pegmatite deposit in Canada and currently being advanced to production. The project's lithium potential is further discussed below. In addition, numerous anomalous results were obtained for both copper, zinc and silver.

The Kali East Block is located directly adjacent to the Billy Diamond Highway, making for easy access and low-cost exploration. Lithium potential was identified on the property after the discovery of pegmatitic boulders scattered across the Kali claims during the field program. This is geologically significant for the block's lithium potential, as it is located in close proximity to greenstone belt ­ granitic pluton contacts, which are known to be highly prospective zones for Li2O-bearing pegmatite dikes.

There exists an excellent potential for the block to hold pegmatite dikes directly under the thin layer of overburden that covers the majority of the property. Assay results from the regional prospecting program returned anomalous results for LCT-type pegmatite mineralization with up to 48.4 ppm Li and 96.6 ppm Rb. Further work is required to determine the source location of the pegmatitic boulders found on the project.

In addition to the lithium potential identified, gold and base metals remain highly prospective. A highly anomalous result of 1,500ppm Cu and 0.68 g/t Ag was obtained from a "heavily altered amphibolite, with heavy gossan staining, 1-2% pyrite" in the northeast corner of the block, only a few hundred metres from the Billy Diamond Highway. This was surrounded by other anomalous Cu and Zn results.

The majority of the Kali East Block remains unexplored and the Company has much further work to complete for follow up on structurally controlled geophysical targets that were discovered during QcX Gold's 2021 work program. This work is in addition to further analysis on results from the Company's inaugural drill program at Golden Giant across the West and East Blocks.