Quebec Precious Metals Corporation announced drill hole assay results from drill hole 189 and the six drill holes from the 2022 winter program (7 holes, totaling 2,982 m). The results demonstrate the depth and strike extension of higher gold mineralization for an additional 200 m at the La Pointe Extension gold deposit, on the Company's 100% owned Sakami project in the Eeyou Istchee James Bay territory of Quebec. Highlights: All seven holes have intersected extensive mineralization over wide intervals.

The three most significant drill intersections are: Hole PT-21-190: 1.61 g/t Au over 19.5 m including 4.91 g/t Au over 1.5 m. Hole PT-21-191: 0.84 g/t Au over 63.0 m including 1.25 g/t Au over 18.0 m. Hole PT-21-194: 0.94 g/t Au over 26.9 m including 1.77 g/t Au over 9.0 m. These holes confirm the continuity of the sub-vertically dipping higher-grade core of the deposit (500 m strike length, a depth of 600 m with an estimated average true thickness of 40 m, up to 75 m in the central part of the deposit, and plunging about 45 degrees to the northeast) which could be amenable to open pit mining. The 2021 fall and 2022 winter drilling aimed to expand the La Pointe Extension deposit that could be amenable to open pit mining. To date, a total of 47 holes (14,535 m) have intersected the La Pointe Extension deposit.

The La Pointe Extension deposit and the La Pointe deposit are part of the Sakami project located along a 23-kilometre-long favorable geological contact that hosts gold mineralization. Both deposits are of similar geological character and a sub-vertically dipping higher-grade portion. They show a generally good spatial correlation between the gold mineralization and the abundance of disseminated arsenopyrite, pyrite and pyrrhotite hosted in a silicified paragneiss that is observed in drill holes.

At the La Pointe deposit, the mineralized zone has a strike length 950 m, a depth of 450 m with an estimated average true thickness of 35 m, up to 63 m in the central part of the deposit. Quality Assurance/Quality Control: The drilling contract was awarded to Orbit Garant Drilling Inc., based in Val-d'Or, Quebec. The hole diameter is NQ.

Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were regularly inserted into the sample stream.

The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation. All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.