Quebec Precious Metals : Management Information Circular

ANNUAL GENERAL MEETING OF SHAREHOLDERS

TO BE HELD ON JULY 28, 2022

NOTICE OF MEETING AND

MANAGEMENT INFORMATION CIRCULAR

Dated: June 27, 2022

NOTICE OF THE ANNUAL GENERAL MEETING

OF SHAREHOLDERS

The Annual General Meeting of Shareholders (the "Meeting") of Quebec Precious Metals Corporation (the "Corporation") will be held by means of remote communication or in person at 800 Victoria Square, Suite 3500, Montreal, Québec, H4Z 1E9, on July 28, 2022 at 10:00 a.m. (Eastern Time), for the following purposes:

1. to present to shareholders the financial statements of the Corporation for the financial year ended on January 31, 2022, as well as the auditors' report thereon;
2. to elect the directors of the Corporation;
3. to appoint the auditors of the Corporation and to authorize the Board of Directors to fix the auditors' remuneration; and
4. to transact such other business that may properly come before the Meeting.

Shareholders of record at the close of business on June 22, 2022, (the "Record Date") are entitled to receive notice of the Meeting, to act at the Meeting and express their voting rights. No person who becomes a shareholder after the Record Date will be entitled to vote or act at the Meeting or any adjournment thereof.

This year, the Corporation is conducting a hybrid Meeting, allowing for shareholder participation both online and in-person. Shareholders who hold their shares directly in their respective names ("Registered Shareholders") and duly appointed proxyholders can attend the meeting in person at 800 Victoria Square, Suite 3500, Montreal, Québec, H4Z 1E9, or in virtual format via live webcast where they can participate, vote, and submit questions during the Meeting by registering before July 26, 2022, at the following link:

https://bit.ly/3byJJAK

After registering and completing the online survey, you will receive a confirmation email with access instructions.

To ensure a smooth process, the Corporation is asking registered participants to log in by 9:45 a.m. (Eastern Time) on July 28, 2022.

Attendance for the Meeting in-person will be strictly limited to Registered Shareholders and duly- appointed proxyholders, shareholders are encouraged to vote in advance of the Meeting by proxy or to participate remotely. Just as for in-personattendance, Registered Shareholders and duly appointed proxyholders will be able to attend the Meeting virtually, participate, submit questions online and vote virtually, all in real time, provided they are connected to the internet and comply with all of the requirements set out in the accompanying information circular dated June 27, 2022 (the "Circular").

Registered Shareholders who are unable to attend the Meeting, whether in-person or virtually, are requested to complete, sign and date the accompanying form of proxy in accordance with the instructions provided therein and in the Circular and return it in accordance with the instructions and timelines set forth in the Circular. Non-registered (or beneficial) shareholders who have not duly appointed themselves as proxyholder are only able to attend the Meeting virtually as "guests", but will not be able to participate, submit questions or vote at the Meeting.

Shareholders who wish to appoint a third-party proxyholder to represent them at the Meeting (including non- registered shareholders who wish to appoint themselves as proxyholders to attend, participate and vote at the Meeting) MUST submit their duly completed form of proxy or voting instruction form AND register their proxyholder. Please see "Appointment of Proxyholder and Right of Revocation of Proxies" in the Circular.

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If you are attending the Meeting virtually and are eligible to vote at the Meeting, it is important that you are connected to the internet at all times during the Meeting in order to vote when balloting commences. It is your responsibility to ensure connectivity for the duration of the Meeting. You should allow ample time to check into the Meeting online and complete the related procedure.

The forms of proxy or voting instruction forms to be used at the meeting must be delivered to Computershare Inc. (attorney service), 100 University Avenue, 8th Floor, Toronto, Ontario, M5J 2Y1, before 5:00 pm (Eastern Time) on July 26, 2022. Form of proxy or voting instruction form may also be provided by internet or facsimile by following the instructions on the form of proxy.

Montreal, June 27, 2022

By order of the Board of Directors

(s) Normand Champigny

Normand Champigny, Chief Executive Officer

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QUEBEC PRECIOUS METALS CORPORATION

(the "Corporation")

INFORMATION CIRCULAR

(Containing information as at June 27, 2022 unless indicated otherwise)

SOLICITATION OF PROXIES

The management of the Corporation solicits proxies to be used at the Annual General Meeting of shareholders of the Corporation (the "Meeting") to be held by means of remote communication or in-person at 800 Victoria Square, Suite 3500, Montreal, Québec, H4Z 1E9, on July 28, 2022 at 10:00 a.m. (Eastern Time) and set forth in the attached Notice of Meeting and at any adjournment. The cost of this solicitation will be borne by the Corporation. Accordingly, the management of the Corporation has drafted this information circular (the "Circular") that it is sending to all the security holders entitled to receive a Notice of Meeting.

Proxies will primarily be solicited by mail, but may also be solicited by e-mail, or telephone. Proxies may be solicited by employees, officers, directors or agents of the Corporation. The Corporation does not intend to remunerate anyone for soliciting proxies and will assume all related expenses. The Corporation has not retained the services of a third party for proxy solicitation. However, should it decide to do so, the fees paid to the person doing the solicitation are expected to be reasonable.

Attendance for the Meeting in-person will be strictly limited to shareholders who hold their shares directly in their respective names ("Registered Shareholders") and duly-appointed proxyholders, shareholders are encouraged to vote in advance of the Meeting by proxy or to participate remotely. Just as for in-personattendance, Registered Shareholders and duly appointed proxyholders will be able to attend the Meeting virtually, participate, submit questions online and vote virtually, all in real time, provided they are connected to the internet and comply with all of the requirements set out herein.

If you are unable to attend the Meeting in-person or virtually, you may complete and return the enclosed form of proxy following the instructions therein. All forms of proxy must be returned to the Corporate Secretary of the Corporation, c/o Computershare Trust Company of Canada, 1500 boul. Robert- Bourassa, 7th Floor, Montréal, Québec, Canada H3A 3S8, before 5:00 p.m. (Eastern Time) on July 26, 2022, or, in the case of adjournment or postponement of the Meeting, at least forty-eight (48) hours before the time of resumption or postponement (excluding Saturdays, Sundays and holidays). Voting instructions may also be provided by internet or facsimile by following the instructions on the form of proxy. The chair of the Meeting may waive the deadline for the filing proxies at his or her discretion without notice.

PARTICIPATION IN THE MEETING

This year, the Corporation is conducting a hybrid Meeting, allowing for shareholder participation both online and in-person. Registered Shareholders and duly appointed proxyholders can attend the meeting in person at 800 Victoria Square, Suite 3500, Montreal, Québec, H4Z 1E9, or in virtual format via live webcast where they can participate, vote, and submit questions during the Meeting by registering before July 26, 2022, at the following link:

https://bit.ly/3byJJAK

After registering and completing the online survey, you will receive a confirmation email with access instructions.

To ensure a smooth process, the Corporation is asking registered participants to log in by 9:45 a.m. (Eastern Time) on July 28, 2022.

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Only Registered Shareholders and duly appointed proxyholders will be able to attend, participate and vote at the Meeting. Non-registered shareholders who have not duly appointed themselves as proxyholder will not be able to vote or ask questions at the Meeting but will be able to participate as a "guest".

Shareholders who wish to appoint a third-party proxyholder to represent them at the Meeting (including non- registered shareholders who wish to appoint themselves as proxyholders to attend, participate and vote at the Meeting) MUST submit their duly completed form of proxy or voting instruction form AND register their proxyholder. Please see "Appointment of Proxyholder and Right of Revocation of Proxies" below.

If you are attending the Meeting and are eligible to vote at the Meeting, it is important that you are connected to the internet at all times during the Meeting in order to vote when balloting commences. It is your responsibility to ensure connectivity for the duration of the Meeting. You should allow ample time to check into the Meeting online and complete the related procedure.

QUORUM FOR THE TRANSACTION OF BUSINESS

The Corporation's By-laws provide that the quorum at a meeting of the shareholders of the Corporation shall consist of two individuals, whether shareholders or proxyholders, personally present and representing personally or by proxy 5% of the issued and outstanding shares of the Corporation carrying the right to vote at the meeting.

APPOINTMENT OF PROXYHOLDER AND RIGHT OF REVOCATION OF PROXIES

The persons named in the enclosed form of proxy are directors and officers of the Corporation. A shareholder has the right to appoint as his or her proxy a person, who need not be a shareholder, other than those whose names are printed on the accompanying form of proxy. A shareholder who wishes to appoint some other person to represent him or her at the Meeting may do so either by inserting such other person's name in the blank space provided in the form of proxy and signing the form of proxy or by completing and signing another proper form of proxy and send it to the Corporate Secretary of the Corporation, c/o Computershare Trust Company of Canada, 1500 boul. Robert-Bourassa, 7th Floor, Montréal, Québec, Canada H3A 3S8, before 5:00 p.m. (Eastern Time) on July 26, 2022, or, in the case of adjournment or postponement of the Meeting, at least forty-eight (48) hours before the time of resumption or postponement (excluding Saturdays, Sundays and holidays). Appointment of proxyholder may also be provided by internet or facsimile by following the instructions on the form of proxy.

A shareholder may revoke a proxy at any time by sending an instrument in writing executed by him or, if the shareholder is a corporation, under its corporate seal or by an officer or attorney thereof duly authorized in writing, at the same address where the form of proxy was sent and within the delays mentioned therein, or two business days preceding the date the Meeting resumes if it is adjourned, or by modifying it online the day of the Meeting by following the instructions given per the Chairman of the Meeting.

EXERCISE OF DISCRETION BY PROXIES

The management undertakes to respect the holder's instructions.

In the absence of any indication by the mandator, the agent will exercise the right to vote IN FAVOUR of each question defined on the form of proxy, in the Notice of Meeting or in the Circular.

Unless otherwise specified herein, all resolutions will be adopted by a simple majority of the votes represented at the Meeting.

Management does not know and cannot foresee at the present time any amendments or new points to be brought before the Meeting. If such amendments or new points were to be brought before the Meeting, the persons named in the enclosed form of proxy will vote on such matters in the way they consider advisable.

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