Quebec Precious Metals extends previously announced new near-surface drill discoveries at Sakami including 1.27 g/t Au over 15 m and 4.66 g/t Au over 3.5 m

MONTREAL, April 23, 2019 (GLOBE NEWSWIRE) -- Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEN, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to announce the drill results from the remaining six (6) reconnaissance diamond drill holes at the Simon-JR area. This area is located from 3 to 8 km NNE of the La Pointe area, within its 100% owned Sakami gold project, Eeyou Istchee James Bay region, Quebec. The gold mineralization has been extended approximately 100 m to the south of the JR showing area.

In the Simon-JR area, eleven (11) diamond drill holes (“DDH”) totalling 1,664 m were completed. Ten (10) of the drill holes intersected gold mineralization. Highlights of previously announced results (press release of March 26, 2019) were: hole SI19-02 - 14.20 g/t gold over 2.0 m within a 15.25 m interval of 2.34 g/t gold, and SI19-03 - 5.05 g/t gold over 5.06 m. Table 1 presents the results from the remaining holes. Highlights are: JR-19-04 - 1.27 g/t gold over 15.0 m and SI19-04 - 4.66 g/t gold over 3.5 metres. Figures 1, 2 and 3 shows the location of these results.

Table 1: Results of remaining six (6) holes drilling of the Simon-JR area.  All widths are drill indicated core length. Insufficient data exists to determine true widths at this time. All gold values presented are not capped.

The mineralization consists of disseminated to semi-massive pyrite, pyrrhotite and arsenopyrite in a sedimentary iron formation. Most of the observed mineralization is hosted in the volcano-sedimentary sequence of the Yasinski Group (La Grande Subprovince) in contact with sedimentary rocks of the Laguiche Group (Opinaca Subprovince) to the east. Similar mineralization has been intersected in each of the DDH

The drilling program with five (5) DDH totalling 2,499 m in the La Pointe area of the Sakami project has been completed. Drill hole locations are shown on Figure 4. This is part of the previously announced diamond drilling (see October 29, 2018 press release) to test down-plunge extensions of the high grade zones at depth, defined as >40 gram-metre drill intercepts (Au g/t x intersection length) and the existence of sub-parallel zones at shallower depths. Results are expected within the next two (2) weeks.

Quality Assurance/Quality Control

Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were inserted regularly into the sample stream. The samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. The samples are weighed and identified prior to sample preparation.  All samples are analyzed by fire assay with AA finish on a 30 g sample (0.005-10 ppm Au), with a gravimetric finish for assays over 10 ppm Au.

Qualified Persons

The field work was under the supervision of Jean-Sébastien Lavallée (OGQ #773), Vice-President Exploration, director and shareholder of the Company. Normand Champigny, Eng., Chief  Executive Officer, and Jean-Sébastien Lavallée, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

About Quebec Precious Metals Corporation

QPM is a new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay region, Quebec, near Goldcorp's Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

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Figures accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/8ad82196-8eba-45bb-a5b2-0fff207e5e19

http://www.globenewswire.com/NewsRoom/AttachmentNg/85547023-ae8d-4dce-b473-187bfc52657f

http://www.globenewswire.com/NewsRoom/AttachmentNg/0a0c77f6-3bc0-425b-a9ec-de8b67bcf909

http://www.globenewswire.com/NewsRoom/AttachmentNg/cf8f17c2-c27d-41d6-b37c-c511357f3a08

Figure 1

JR Area

Figure 2

Simon Area

Figure 3

9.6 Area

Figure 4

La Pointe Area