Q2 Metals Appoints Keith Phillips as Executive Chair of the Board of Directors

VANCOUVER, British Columbia, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Q2 Metals Corp. (TSX.V: QTWO | OTCQB: QUEXF | FSE: 458)(“Q2” or the “Company”) is pleased to announce the appointment of Director Keith Phillips to the role of Executive Chair of the Board of Directors of the Company, effective immediately.

Mr. Phillips joined the board of Q2 Metals in October 2025 after serving as Chief Executive Officer of Piedmont Lithium (“Piedmont”) from its inception in 2017 to its merger with Sayona Mining in 2025. Under his leadership, Piedmont achieved a peak market capitalization exceeding $1.0 billion, growing from an early-stage, single project exploration company to a global lithium producer with assets in Canada, Ghana and the United States as well as key commercial partnerships with Tesla and LG Chem. The successor company, Elevra Lithium, is North America’s leading hard-rock lithium producer. Prior to joining Piedmont, Mr. Phillips had a distinguished 30-year career on Wall Street, where he managed strategic and financing transactions with an aggregate value of over $100 billion.

Alicia Milne, Q2 Metals President and CEO, commented, “We were very pleased to have Keith join the Company last fall and I am looking forward to having him more involved as we continue to advance the Cisco Lithium Project. We expect 2026 will be a pivotal year for Q2 as we anticipate publishing our inaugural inferred Mineral Resource Estimate on Cisco in March and then will continue to transition from early-stage discovery to focus on advanced exploration, engineering, permitting and community engagement. Keith’s experience will be a benefit to our team as we continue to grow and evolve.”

Keith Phillips, Executive Chairman, stated, “I 've been highly impressed with the team at Q2 during my few months on the Board. It 's clear that Cisco is an exceptional asset, with world-class scale and grade and an advantageous location within the mining-friendly province of Quebec. In taking on a more active role, I hope to bring further value to the Company, particularly in the areas of investor and strategic positioning.”

Cisco Lithium Project Update

Drilling has re-commenced for the winter season at the Cisco Lithium Project with a primary focus on continued infill drilling of the main mineralized zone which will be the subject of a Preliminary Economic Assessment targeted for late 2026. Exploration drilling may also be incorporated into the drill program to test areas outside of the main mineralized zone.

Photo 1: Aerial view of Drilling at Cisco Project, Winter 2026

As of December 31, 2025, a total of 74 holes have been drilled at the Cisco Project for 31,961 metres. Assays remain pending on seven (7) holes that were drilled in the last quarter of 2025 and will be reported once received and reviewed. All holes drilled to December 31, 2025, will be incorporated into an inaugural inferred Mineral Resource Estimate.

Upcoming Events

The Company will also be attending the following events:

Qualified Person 

Neil McCallum, B.Sc., P.Geol, is a Qualified Person as defined by NI 43-101, and a registered permit holder with the Ordre des Géologues du Québec and member in good standing with the Professional Geoscientists of Ontario. Mr. McCallum has reviewed and approved the technical information in this news release. Mr. McCallum is a director and the Vice President Exploration for Q2.

ABOUT Q2 METALS CORP. 

Q2 Metals is a Canadian mineral exploration company focused on the Cisco Lithium Project, located within the greater Nemaska traditional territory of the Eeyou Istchee, James Bay region of Quebec, Canada. The known mineralized zone at Cisco is just 6.5 km from the Billy Diamond Highway, which leads to the railhead in the Town of Matagami, ~150km to the south.

The Cisco Project has district-scale potential with an initial Exploration Target estimating a range of potential lithium mineralization of 215 to 329 million tonnes at a grade ranging from 1.0 to 1.38% Li₂O, based only on the first 40 holes drilled. It is noted that the potential quantity and grade of the Exploration Target are conceptual in nature and there has been insufficient exploration to estimate and define a Mineral Resource, as defined by NI 43-101. It is uncertain if further exploration will result in the target being delineated as a Mineral Resource. 

The 2026 Exploration Program is ongoing, primarily focused on continued infill drilling towards indicated resource definition for inclusion in a Preliminary Economic Assessment, targeted for late 2026. Expansion and exploration drilling continues at the main zone, which remains open at depth and along strike, as well as at high potential targets identified across the broader 41,253 hectare project area.

FOR FURTHER INFORMATION, PLEASE CONTACT: 

Forward-Looking Statements 

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “would”, “will”, “potential”, “scheduled” or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company’s properties and the future exploration endeavors of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. 

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in such forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date specified in such statement. Forward looking statements in this news release include, but are not limited to, drilling results on the Cisco Project and inferences made therefrom, the conceptual nature of an exploration target on the Cisco Project, the potential scale of the Cisco Project, the focus of the Company’s current and future exploration and drill programs, the scale, scope and location of future exploration and drilling activities, the Company 's expectations in connection with the projects and exploration programs being met, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, variations in ore grade or recovery rates, changes in project parameters as plans continue to be refined, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, reallocation of proposed use of funds, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedarplus.com.   

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c6ad44a6-b741-4dac-86b5-13e4f7bbd082

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