QMX Gold Intersects 196.6m at 1.78 g/t Au Including 5.45 g/t Au Over 33.5m In-Pit at Bonnefond

QMX Gold Company (“QMX” or the “Firm”) (TSX:V:QMX) is happy to report outcomes from the continuing deep exploration drilling program on the Bonnefond deposit (Desk 1). Drill gap 17315-20-155 (Determine 1) was accomplished as a part of a collection of drill holes testing the potential of the deeper portion at Bonnefond. The Bonnefond deposit is situated within the Val d’Or East Zone of QMX’s intensive land bundle in Val d’Or, Quebec (Determine 2).

Highlights (Grades are uncut; size is measured alongside the outlet, Desk 1):

• 1.78 g/t Au over 196.6m, together with 5.46 g/t Au over 33.5m inside the 2020 Mineral Useful resource Estimate conceptual pit-shell
• 3.30 g/t Au over 9.5m, together with 10.42 g/t Au over 2.0m at 380m
• 20.90 g/t Au over 1.7m at 520m
• 5.57 g/t Au over 3.1m at 550m

DDH 17315-20-155 confirms the earlier outcomes from DDH 121 (News Release, Aug ust 18, 2020) and DDH 149 (News Release, Jan uary 5, 2021) and the potential of the Bonnefond deposit under the 2020 Mineral Useful resource Estimate (MRE) conceptual pit-shell (New Release, Dec ember 2, 2020) .

“We proceed to develop a greater mineralization mannequin with each gap drilled at Bonnefond,” says Dr. Andreas Rompel, Vice President Exploration, “and we achieve extra information in regards to the mineralization at depth. After having drilled a number of profitable deep holes, it’s clear that the mineralization continues down plunge together with a number of high-grade intervals.’’

The Bonnefond deposit contains an intrusive physique and collection of shear zones transecting the intrusive and the encompassing volcanic collection. The primary a part of the mineralization is hosted within the shear zones and is related to quartz tourmaline veins, pyrite and powerful sericite-albite-fuchsite alteration. Within the tonalite, mineralized veins and veinlets lengthen exterior of the shear envelops.

Drill gap 17315-20-155 was drilled down plunge near the western contact of the Bonnefond tonalite, 50m to west of DDH 121 to check the continuity of the enriched mineralization zones alongside the intrusive and under the useful resource pit. The drill gap remained inside the mineralized tonalite from the bedrock to 560m and ended at 625m within the diorite. Alongside its total course, the diamond drill gap intersected a number of enriched zones. These intervals are listed in Desk 1. The intersection angle of the drill gap with the mineralized zones is sort of perpendicular, rendering the intersection size near the true width .

Throughout the 2020 MRE pit-shell, DDH 155 intersected 1.78 g/t Au over 196.6m together with 5.46 g/t Au over 33.5m and several other narrower enriched intervals various from 4.03 g/t Au over 1.6m to 9.00 g/t Au over 1.5m. These enriched intervals are associated to increased density of quartz tourmaline veins and visual gold is commonly noticed.

Under the pit shell, the outlet intersected a number of mineralized intervals resembling 3.30 g/t Au over 9.5m, together with 10.42 g/t Au over 2.0m at 380m; 20.90 g/t Au over 1.7m at 520m and 5.57 g/t Au over 3.1m at 550m. Primarily based on the present interpretation of the undertaking, the continuity of a number of of those intervals may be traced in near-by drill holes demonstrating potential for steady underground sustainable mineralized zones at depth.

Mixed with the success of the 2020 MRE at constructing a primary inferred underground useful resource on the Bonnefond deposit, the outcomes of DDH 155, DDH 121 and DDH 149 builds on the underground potential of the undertaking.

Desk 1: Outcomes from DDH 155 – Bonnefond Deposit

* Reported size measured alongside the outlet.
** Au uncut

Determine 1: Outcomes from DDH 155 – Bonnefond Deposit
https://www.globenewswire.com/NewsRoom/AttachmentNg/6b6a4ad6-a846-432b-adfc-b5e2089c5966

Determine 2: QMX’s intensive and target-rich land bundle
https://www.globenewswire.com/NewsRoom/AttachmentNg/d0d8e8d6-7940-421f-9cd5-7258c6c56908

Present Exploration Drilling

QMX at present has 4 drill rigs working on its Val d’Or property, all on and across the Bonnefond property. QMX expects to mobilize further drill rigs as quickly as the sector situations permit it to begin drilling on the Bevcon and the New Louvre targets (News Release, January 12, 2021) .

High quality Management

In the course of the drilling program, assay samples had been taken from the NQ core and sawed in half. One half is distributed to Swaslab Ltd., an authorized business laboratory. The opposite half of the core is retained for future reference. A strict high quality assurance and high quality management program was utilized to all samples, which included insertion of mineralized requirements, clean samples and duplicates inside every batch of 20 samples. The gold analyses had been accomplished by fire-assay with an atomic absorption end on 50 grams of fabric. Repeats had been carried out by fire-assay with a gravimetric end on every pattern containing 5.0 g/t Au or extra. The gold analyses had been undertaken by fire-assay on 50 grams of pulp with an atomic absorption end. Repeats had been carried out by fire-assay with a gravimetric end on every pattern containing 5.0 g/t Au or extra.

Certified Individuals

The scientific and technical content material of this press launch has been reviewed, ready and authorised by Mélanie Pichon, P.Geo, M.Sc, Exploration Supervisor, who’s a “Certified Particular person” as outlined by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks (“NI 43-101”).

About QMX Gold Company

QMX Gold Company is a Canadian primarily based useful resource firm traded on the TSX Enterprise Change beneath the image “QMX”. The Firm is systematically exploring its intensive property place within the Val d’Or mining camp within the Abitibi District of Quebec. QMX Gold is at present drilling within the Val d’Or East portion of its land bundle centered on the Bonnefond Deposit and within the Bourlamaque Batholith. Along with its intensive land bundle QMX Gold owns the strategically situated Aurbel gold mill and tailings facility.

Cautionary Observe Relating to Ahead-Trying Data:

This press launch accommodates or could also be deemed to comprise “forward-looking data” inside the that means of relevant Canadian securities laws. Ahead-looking data consists of, however shouldn’t be restricted to, statements concerning the 2020 MRE, future plans, operations and actions, deliberate drilling packages, projected mineralization, timing of assay outcomes, and the power of the Firm to proceed as a going concern. Typically, forward-looking data may be recognized by way of forward-looking terminology resembling “plans”, “expects” or “doesn’t anticipate”, “is anticipated”, “price range”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “may”, “would”, “would possibly” or “can be taken”, “happen” or “be achieved”. Ahead wanting data is topic to identified and unknown dangers, uncertainties and different components that will trigger the precise outcomes, stage of exercise, efficiency or achievements of the Firm, its properties and/or its initiatives to be materially totally different from these expressed or implied by such forward-looking data, together with however not restricted to these dangers described within the disclosure paperwork of the Firm filed beneath the Firm’s profile on SEDAR. Though the Firm has tried to establish essential components that would trigger precise outcomes to vary materially from these contained in forward-looking data, there could also be different components that trigger outcomes to not be as anticipated, estimated or meant. There may be no assurance that such data will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking data. The Firm doesn’t undertake to replace any forward-looking data, besides in accordance with relevant securities legal guidelines.

Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.