Quebec Rare Earth Elements Corp. announced that, further to its announcement on February 28, 2024, the Company has acquired certain mineral claims in the Province of Quebec. The Acquisition was completed in accordance with a purchase agreement dated February 28, 2024 with an arm's length party.

The Property consists of 45 claims representing approximately 2,430 hectares north of Lake Manitou in a known REE area which is located approximately 130 km northeast of the city of Sept-Iles in Quebec. As consideration for the Property, the Company issued the Seller an aggregate of 3,000,000 common shares in the capital of the Company at a deemed price of $0.15 per Common Share. All securities issued pursuant to the Acquisition are subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.