Q-Gold Announces Filing of NI 43-101 Technical Report for Mine Centre

Q-Gold Resources Ltd (TSXV: QGR, OTC: QGLDF, FRA: QX9G) (“

Q-Gold

” or the “

Company

”) is pleased to announce that it has filed on SEDAR+ a National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("

NI 43-101

") compliant, independent technical report (the "

Report

") on its wholly-owned Mine Centre Property located in Ontario, Canada (the “

Project

”).

The Report includes the exploration work undertaken during the last three years by the Company at the Project. The report includes an airborne magnetic survey, a LIDAR survey covering all claims at the Project and two phases of drilling aiming at the strike and dip extensions of the gold-bearing veins which were previously mined at the Foley Mine. As the Project is a grass roots stage exploration project, it does not contain any mineral resource estimates.

The Report titled "NI 43-101 Technical Report On the Mine Centre Property, Bad Vermillion Block, Rainy River Greenstone Belt, Rainy River District, Ontario, Canada" is dated July 5, 2024, with an effective date of June 10, 2024. The Report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca). The Report is the current technical report in respect of the Project and shall supersede and replace all prior technical reports relating to the Project.

Qualified Persons

The scientific and technical information contained in this press release has been reviewed, prepared and approved by Jason Arnold, P. Geo., who is a "Qualified Person" as defined by NI 43-101.

About Q-Gold Resources Ltd.

Q-Gold Resources (TSXV: QGR, OTC: QGLDF, FRA: QX9G) is a publicly traded Canada-based mineral exploration company targeting high-grade gold and silver discoveries in multiple jurisdictions. Q-Gold is currently exploring for gold at the past-producing Foley Gold Mine in Mine Centre, Ontario.

For further information, contact:Dr. Andreas RompelChief Executive [e-mail]

Cautionary Note

Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding the Company’s work plan and beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond the Company's control. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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