DGAP-News: Quebec Precious Metals Corporation / Key word(s): Miscellaneous 
Quebec Precious Metals Corporation: Vital Acquires Kipawa and Zeus Projects from Quebec Precious Metals Corporation for 
C$8 Million; Strengthens Canadian Rare Earths Portfolio (news with additional features) 
2021-08-10 / 13:00 
The issuer is solely responsible for the content of this announcement. 
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Vital Acquires Kipawa and Zeus Projects from Quebec Precious Metals Corporation for C$8 Million; Strengthens Canadian 
Rare Earths Portfolio 
HIGHLIGHTS 
- Vital to acquire Quebec Precious Metals Corporation's 68% interest in Kipawa Rare Earth project and 100% of Zeus Rare 
Earth project in Quebec, Canada, for C$8 million (A$8.5 million) 
- Kipawa and Zeus are heavy rare earth projects which complement Vital's light rare earths operations at Nechalacho 
- Acquisition has potential to transform Vital into the only producer of both light and heavy rare earths in North 
America 
- The Kipawa Project was previously held in a Joint Venture with Toyotsu Rare Earth Canada, Inc. ("Toyotsu"), which 
included off-take provisions. Toyotsu's interest was converted into a 10% Net Profit Interest ("NPI"). 
- NI 43-101 defined Mineral Resource Estimate as well as Proven and Probable Reserve Estimate on the Kipawa Project 
- Vital plans to update the 2013 Definitive Feasibility Study completed for Kipawa project 
- Vital intends to duplicate the strong Indigenous and community employment and procurement model that it has 
demonstrated at its Nechalacho REE mine in the NWT 
MONTREAL, QC / ACCESSWIRE / August 10, 2021 / Vital Metals Limited ( "VML", "Vital", " Vital Metals " or " the Company 
") and Quebec Precious Metals Corporation (TSXV:QPM)(OTCQB:CJCFF)(FSE:YXEP) (" QPM ") are pleased to announce that they 
have signed a binding term sheet (the "Term Sheet") for the acquisition by VML of QPM's 68% interest in the Kipawa 
exploration project and 100% interest in the Zeus exploration project (the "Projects"). Joint Venture partner 
Investissement Québec ("IQ") holds the remaining 32% of the Kipawa project. 
Kipawa is a heavy rare earths project, located 50km from Temiscaming in Quebec, with a Mineral Resource Estimate of 
15.5Mt of eudyalite at 0.434% TREO and 0.873 ZrO[ 2] , 6.3Mt of mosandrite at 0.391% TREO, 1.018% ZrO[ 2] , 5.1Mt of 
britholite at 0.286% TREO, 0.944% ZrO[ 2,] and with a Proven and Probable Reserve Estimate of 19.8Mt at 0.411% TREO. 
Investors should note that the terms "Mineral Resource", "Mineral Reserve" and, "Proven and Probable Reserve" are as 
defined by the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") as the CIM Definition Standards on 
Mineral Resources and Mineral Reserves adopted by CIM council. These estimates are foreign estimates and are not 
reported in accordance with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Resources and 
Ore Reserves (the "JORC Code"). A competent person has not done sufficient work to classify these estimates as a 
mineral resource or ore reserve in accordance with the JORC Code and it is uncertain that following further exploration 
or evaluation work that the foreign estimates will be able to be reported as a mineral resource or ore reserves in 
accordance with the JORC Code. 
QPM's Chief Executive Officer Normand Champigny stated: " We are pleased with the acquisition by Vital Metals of the 
Projects. We have been successful in our monetization of our non-core assets since the creation of QPM in 2018. " 
Projects Overview 
The Projects total 73 claims over 43km^ 2 and lie in the Grenville geological province, approximately 55km south of the 
geological contact with the Superior geological province. The lithologies consist mainly of gneiss with a grade of 
metamorphism ranging from the greenschist facies to the amphibolite-granulite facies. 
The Kipawa deposit is defined by three enriched horizons within the "Syenite Complex", which contains some light rare 
earth oxides but primarily heavy rare earth oxides. Drilling since 2011 totals 293 drill holes (24,571m) and was used 
to prepare a feasibility study which was completed by Matamec Explorations Inc. in 2013. 
Twelve heavy rare earth showings have been identified on the Zeus project, some of which contain niobium and tantalum. 
Table 1: Rare Earth Oxide distribution at Current Prices 
^1 Rare earth distribution of North T and Tardiff zones as determined under the Vital's 2012 JORC Report (refer 15 
April 2020) and as detailed in announcement 2^ nd February 2021. 
^2 Rare earth distribution of Kipawa 2013 Feasibility Study (refer https://www.qpmcorp.ca/en/projects/kipawa/) 
^3 Rare earth prices sourced from Shanghai Metals Market ( www.metal.com ) as at 8 July 2021 
Term Sheet Conditions 
The Term Sheet contemplates the acquisition by VML of a 68% legal and beneficial interest in the Kipawa project, and 
all of QPM's rights, title and interest in the Joint Venture Agreement with IQ, and 100% legal and beneficial interest 
in Zeus project. Key terms of the Term Sheet are as follows: 
- QPM agrees to sell to VML or an affiliate of VML (the "Purchaser") the Projects for a total purchase price of C$8m 
payable as follows: 
o C$150,000 deposit on signing the Term Sheet; 
o C$2.35m on acquisition of the Projects; 
o C$2.5m on the first anniversary of acquisition; 
o C$1m on the second anniversary of acquisition; 
o C$1m on the third anniversary of acquisition; and 
o C$1m on the fourth anniversary of acquisition. 
Purchaser will grant security over the Projects to QPM until the consideration is paid in full. 
- Acquisition of the interests in the Projects is to occur at the completion of the sale and purchase by Purchaser when 
all conditions precedent have been satisfied or waived. 
- Following the execution of the Term Sheet on August 9 (the "Execution Date"), VML shall conduct due diligence within 
one of the following periods, whichever is applicable: 
o 3 months following the Execution Date, provided that VML's nominated personnel visit the Projects within a period of 
2 months following the Execution Date; or 
o In the event VML's nominated personnel are unable to visit the Projects within a period of 2 months following the 
Execution Date, on the earlier of: (i) 1 month following the date of arrival of VML's nominated personnel on either the 
Kipawa and Zeus Projects, and (ii) 6 months following the Execution Date. 
- Conditions precedent include: 
o VML due diligence; 
o QPM shall have delivered to VML executed releases as to the discharge of all encumbrances over the Projects, other 
than permitted encumbrances; 
o VML shall have obtained from the ASX confirmation that ASX Listing Rule 11.1.3 does not apply to the transactions as 
contemplated by this term sheet, and if ASX determine that ASX Listing Rule 11.1.2 applies to the transactions, the 
shareholders of VML approving the transactions for the purposes of ASX Listing Rule 11.1.2. ASX has confirmed that 
neither Listing Rule 11.1.3 or Listing Rule 11.1.2 apply to this transaction; 
o QPM shall have delivered to VML all consents or agreements required to assign the existing royalties (being the 10% 
NPI with Toyotsu Rare Earth Canada, Inc.) from QPM to VML and as required to grant the security over the Projects to 
QPM; 
o In respect of the joint venture agreement ("JV Agreement") with IQ: 
- IQ shall have waived its right of first refusal under the JV Agreement; 
- IQ shall have consented to the sale of QPM's rights and interests in the Kipawa project and the JV Agreement to VML; 
and 
- VML shall have delivered to IQ a written notice in accordance with the 
JV Agreement accepting to be bound by the terms and conditions of the JV Agreement. 
o Other customary conditions of closing, including various third-party approvals. 
The Term Sheet contains other terms and conditions considered standard for an agreement of its nature including 
representations and warranties given by the parties. 
Consideration will be paid from VML's existing cash reserves. Dependent upon access for due diligence as set out above, 
the acquisition will complete before 28 February 2022. 
QPM will provide more updates on the planned acquisition as it progresses. 
Qualified/Competent Persons Statement 
Information and statement relating to the Mineral Resource Estimate for the Kipawa Rare Earth Project is based on, and 
fairly represents, information and supporting documentation prepared by Matamec Explorations Inc. and the "Qualified 
Person" under NI 43-101 is Mr Yann Camus, Eng from SGS Canada Inc. The data in this press release has been reviewed by 
Mr Brendan Shand. Mr Shand is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy 
and an employee of the Company. Mr Shand has sufficient experience that is relevant to the style of mineralisation and 
type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in 
the 2012 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr 
Shand confirms that the information is an accurate representation of the available data and studies including the 
Technical Report and Resource estimation obtained from a NI43-101 Compliant Feasibility Study for the Kipawa Project 
submitted by Matamec Explorations Inc (Effective Date: September 3, 2013, Issue Date: October 17, 2013). 
Sakami Project Technical Report 
Following a letter of observation sent by the Autorité des marchés financiers on July 26, 2021, QPM filed on SEDAR an 
amended version of the previously disclosed technical report dated April 21, 2021 and entitled "NI 43-101 Technical 
Report for the Sakami Project, Eeyou Istchee James Bay territory, Quebec, Canada". The amended report does not contain 
any material changes. 
Contacts: 
Mr Geoff Atkins 
Managing Director 
Vital Metals Limited 
Phone: +61 2 8823 3100 
Email: vital@vitalmetals.com.au 
Mr Jean-François Meilleur 
President

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August 10, 2021 07:00 ET (11:00 GMT)