QNB Metals Inc. announced that it has entered into an option agreement (the "Agreement") with Slam Exploration Ltd. (the "Optionor") effective January 23, 2023 (the "Effective Date"), whereby the Corporation was provided an option to acquire a 100% interest in the Goodwin Lake Property (the "Property"), located 80 km northwest of Miramichi in the Bathurst Mining Camp of New Brunswick. The Property consists of 6 claims comprised of 43 units that cover 930 hectares of prospective mineral ground. There are three nickel-copper occurrences located within the Goodwin claims which were discovered and drilled by previous workers.

Historic results include a 9.15m drill core interval grading 1.16% nickel and 1.28% copper in hole GR89-55 drilled in 1989. Two other nickel copper occurrences known as the Logan and Farquharson zones were discovered and drilled in the 1960's. Two volcanogenic massive sulphide ("VMS") occurrences have also been discovered on the Property by previous workers. A 15.9 metre core interval grading 7.21% zinc, 0.21 % lead, 0.08% copper 14.42 g/t silver and 0.16 g/t gold was drilled in hole ML97-02 in 1997.

The other VMS occurrence was discovered in 1989 in diamond drill hole GR89-60. This hole cut a 0.4 core interval grading 8.19% zinc, 3.09% lead and 84.48 g/t silver at a depth of 14.84 m. The Agreement also contains a provision, effective upon the Corporation acquiring a 100% interest in the Property, for a 2% net smelter royalty in favour of the Optionor (the "Royalty"). Half of the Royalty can be purchased by the Corporation by paying the sum of $1,000,000 to the holder of the Royalty at any time prior to commencing commercial production on the Property, thereby reducing the Royalty to 1%.