SRQ Resources Inc. announced it has further characterised the nickel and copper mineralisation of Lac Brulé's recently discovered Ultramafic Magmatic ("UM") intrusive complex using petrological and mineralogical studies of samples. UM complex is composed of meta-pyroxenite and meta-peridotite, both of which intrude the highly metamorphic host rock sequence: The meta-pyroxenite includes locally porphyritic assemblages of diopside, magnesio-hornblende and olivine (Fo80-84) with a lesser proportion of enstatite, intercalated with mineralized horizons containing up to 30% sulphides Sulphides present are mainly pyrrhotite (iron + minor nickel ("Ni")), chalcopyrite (copper ("Cu")); cobalt-rich pentlandite (Ni and cobalt ("Co")) Lower than expected nickel was observed in the olivines in the meta-peridotite, suggesting their transfer to the sulphide's liquids during immiscibility SRQ's discoveries are being made on its 100%-owned Lac Brulé property located 50 kilometres ("km") north-west of the former Renzy nickel-copper mine in the Upper Laurentian region of Quebec and a five-hour drive from Montreal. The former Renzy mine operated from 1969 to 1972.

UM intrusive bodies host mineralisation at both the Renzy mine and at Lac Brulé. Both sites present several striking similarities including mineralogy, petrology and timing of emplacement. A total of 50 samples were carefully collected during the 2023 Phase 1 & 2 drilling programs at the Lac Brulé UM complex (Figures 1 & 2) for detailed petrological and mineralogical studies using an optical microscope and a scanning electronic microscope ("SEM").

These studies were carried out at the ISTerre of the University of Grenoble Alpes by Professor Christian Picard, university professor (retired) of earth sciences (with special authorisation from Ordre des Géologues du Québec (OGQ)). The discovered UM complex is composed of meta-pyroxenite and meta-peridotite, both intruding the highly metamorphic host rock sequence. The meta-pyroxenite includes locally porphyritic assemblages of diopside, magnesio-hornblende and olivine (Fo80-84) with a lesser proportion of enstatite, intercalated with specific mineralized horizons containing up to 30% sulphides mostly as net texture within the silicate gangue.

Within the intrusive meta-peridotite, low nickel contents were measured in the olivine crystals (800 to 1,600 parts per million ("ppm")) versus an expected nickel range in olivine of 3,000 to 4,000 ppm. This could reflect a strong transfer of nickel from the olivines to the sulphide liquids produced during immiscibility mechanisms. Sulphides present in the pyroxenite sequences (Table 1) are pyrrhotite (Ni: 0.17 to 0.66 wt%). chalcopyrite (Cu: 34.56 to 36.27%) and cobalt-rich pentlandite (Ni: 34.56 to 36.73 wt%; Co: 4.15 to 7.33 wt%) present as isolated phases and /or as exsolutions in pyrrhotite (Figures 3 & 4).

A few rare pyrite crystals are present. Hole LB-23-12 returned the sulphide assemblages below (pyrrhotite ("Po"), chalcopyrite ("Cp") and pentlandite ("Pn")) 106.15 to 107.8 m (Ni: 0.63 to 0.79%; Cu: 0.36%) 30 to 37% sulphides including 27 to 33% Po /1% Cp /2 to 2.5% Pn 110.65 to 111.5 m (Ni: 0.6%; Cu: 0.47%) 30% sulphides including 27% Po /1% Cp /2% Pn 112 to 113 m (Ni: 0.54%; Cu: 0.37%) 26% sulphides including 23% Po /1% Cp /1.7% Pn 114.8 to 115.1 m (Ni: 0.53%; Cu: 0.36%) 27% sulphides including 24% Po /1% Cp /1.7% Pn 119 to 120.95 m (Ni: 0.52 %; Cu: 0.27 to 0.59%) 25 to 28% sulphides including 24% Po /1% Cp /1.7% Pn 122.45 to 124.7 m (Ni: 0.51 to 0.53%; Cu: 0.19 to 0.49%) 26 to 27% sulphides including 23-24% Po /0.8 to 1.7% Cp /1.7% Pn 128.15 to130.85 m (Ni: 0.49 to 0.66%; Cu: 0.35 to 0.44%) 25 to 32% sulphides including 23-24% Po /1 to 1.4% Cp /1.7% Pn 133.3 to -134.8 m (Ni: 0.53 to 0.58%; Cu: 0.37 to 0.64%) 26 to 30% sulphides including 22-28% Po /1 to 1.3% Cp /1.6 to 2.1% Pn Microcrystals of silver tellurium (hessite - Ag2Te), as well as silver and palladium tellurium, were observed in hole LB-23-10 at 207.3m. Core logging and sampling are performed at SRQ's field facilities by SRQ's staff.

Sample preparation and whole rock analysis are carried out by Activation Laboratories Ltd. (Actlab), Ancaster and Thunder Bay, Ontario, Canada. All samples were assayed for Ni, Cu, Co, Fe, S, Pt, Pd and Au using sodium peroxide fusion ICP for the first five elements and by Fire Assay ICPOES for the last three. The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.

D geology, P. Geo and President and CEO of SRQ Resources, and a ?Qualified Person,' as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.