Q2 Metals Corp. (TSX-V: QTWO) (OTCQB: QUEXF) (FSE: 458) is pleased to announce that the Company has closed its previously announced private placement of (i) 20,409,000 common shares of the Company at a price of C$2.45 per Common Share for aggregate gross proceeds of C$50,002,050, which includes the full exercise of the Underwriters’ (as defined below) option for gross proceeds of C$10,000,900; and (ii) 5,556,000 common shares of the Company that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) at a price of C$3.60 per FT Share for aggregate gross proceeds of C$20,001,600.

The Offering was conducted on a bought deal private placement basis pursuant to an underwriting agreement dated May 26, 2026 between Canaccord Genuity Corp., as lead underwriter and sole bookrunner, and ATB Capital Markets Corp. and BMO Nesbitt Burns Inc., and the Company.

The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Tax Act, to incur (or be deemed to incur) eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” related to the Company’s mineral projects in Québec, on or before December 31, 2027, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Shares effective on or before December 31, 2026. The net proceeds received from the sale of the Common Shares will be used in advancing the development of the Company’s Cisco Lithium Project, as well as for working capital and general corporate purposes.

As consideration for the Underwriters’ services, the Underwriters received a cash commission of C$3,850,200.75 and 649,125 broker warrants with each Broker Warrant entitling the holder thereof to purchase one common share of the Company at a price of C$2.45 per Broker Share for a period of three years from the closing date of the Offering.

The Offering remains subject to the final approval of the TSX Venture Exchange. The Common Shares and the FT Shares are subject to a hold period of four months and one day from the closing date of the Offering under applicable Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available. “United States” and “U.S. person” have the meaning ascribed to them in Regulation S under the 1933 Act.

ABOUT Q2 METALS CORP.

Q2 Metals is a Canadian mineral exploration company focused on advancing the Cisco Lithium Project which is located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay region of Quebec, Canada. The Cisco deposit is strategically situated just 6.5 km from the Billy Diamond Highway, providing access to rail infrastructure in the Town of Matagami, ~150 km to the south, with connections to deep sea ports beyond.

The current Inferred Mineral Resource Estimate on the Cisco deposit outlines a pit-constrained resource of 270 Mt grading 1.36% Li₂O at a 0.4% Li₂O cut-off grade and an additional underground-constrained resource of 24 Mt grading 1.34% Li₂O Inferred at a 0.7% Li₂O cut-off grade. Together, these support a combined inferred mineral resource of 295 Mt grading 1.36% Li₂O. The Cisco deposit remains open along strike, with several additional high-priority targets identified across the broader 41,253 ha project area.

The 2026 exploration program is ongoing, with a primary focus on infill drilling aimed at advancing the resource toward an indicated classification. The program also includes targeted expansion drilling and regional exploration designed to evaluate high priority targets surrounding the Cisco deposit and across the broader project area.