Toronto, ON – February 15, 2022 – QC Copper and Gold Inc. ("QC Copper" or the "Company") (QCCU:TSXV | QCCUF:OTCQB) is pleased to announce initial assay results from its Q4 2021 drill program. Significant results were obtained in several drill holes, but most notable was hole OPM-21-122, which returned an intersection of 184.5 metres grading 0.32% Cu-eq, including 49.5 metres grading 0.70% Cu-eq.

“These results are notable because they extend mineralization into areas that were not well sampled or included in September 2021’s Mineral Resource Estimate. This hole clearly demonstrates the in-pit mineralization expansion potential relative to what was defined in our initial Mineral Resource Estimate. Priority step-out holes are planned to follow up to the east, west, and up-dip from Hole 122 as part of definition drilling to expand the in-pit mineral resource on the Springer-Perry deposit,” said Mr. Charles Beaudry, Director and Vice President of Exploration for QC Copper.

Update on Geologic Interpretation / Domaining of Mineralization

As part of an updated mineral resource for the Springer-Perry deposits planned for late 2022, the geology is being re-interpreted from a vein and halo categorization to the domaining of global mineralized envelopes above a nominal cut-off grade of 0.2% Cu-eq using all historical and current drilling results. This is an important factor as the original vein envelopes defined by the Company were digitized before the 2021 drilling program, and many mineralized areas ended up outside the vein envelopes, defined as halos, and were either not included in the initial mineral resource estimate or were interpolated very conservatively in the 2021 Mineral Resource Estimate. The current phase of drilling is focused on areas that are yet to demonstrate geological continuity in order to increase the resource base within thee conceptual pit outline.  It is also designed to better define low grade envelopes around mined out stopes.

Table 1:  Summary of significant composite intersections from Q1 2021 diamond drilling to date on Opemiska Project.

*Copper Equivalent (“Cu Eq.”) grade including copper, gold, silver, cobalt and zinc based on 100% recoveries is calculated using the following equation: Cu Eq. = [(Cu % x 20 x Cu price) + (Au grade / 34.2857 x Au price) + (Ag grade / 34.2857 x Ag price) + (Co % x 20 x Co price) + (Zn % x 20 x Zn price)] / (20 x Cu price). We used Cu, Au, Ag, Co and Zn price of US$4.00, US$1,730, US$26.00, US$23.90 and US$1.20 respectively. Note that the assays have not been capped.

The composite intervals are quoted “as is” and do not necessarily represent true widths of mineralization.  However within the deposit there are veins in several directions and these reported holes are all drilled to the south to intersect the east-west trending veins which dip to the north and suggests the intervals are near true width.

Update on Current Drill Program

Drilling started in late October and continued until December 20^th with 23 holes completed for a total of 5,457 metres. A total of 3,423 core samples were submitted for analysis plus a suite of QAQC samples and assays continue to be received from this drilling. As of February 11^th a total of 2,194 core assay results were received, and although a few batches are being reassayed due to QAQC issues, significant validated results are presented in Figure 1 and Table 1. Click here for figure 1.

Drilling restarted in early January 2022 and as of the February 13^th a total of 2,597 metres have been drilled with 13 holes completed. A total of 1,633 samples have been collected and 1,496 samples were shipped to the laboratory for assaying. No assays have been received to date for any drilling done in 2022. 

Phase 2 2022 Drilling Program in Preparation

QC Copper’s near-term priority is converting what may currently be considered waste into mineral resources within the Springer-Perry open pit. The Company believes this opportunity represents the lowest risk, highest return and most efficient way to grow the Opemiska Deposit.

Targeted areas outside the conceptual open pit will seek to test and confirm low-grade, open-pitable mineralization along with the Cooke-Robitaille mines structural corridor before undertaking systematic definition drilling in 2023.

QP Statement

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, P.Geo and géo., Director and Vice President Exploration for QC Copper & Gold, a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."  For the exploration undertaken by QC Copper & Gold, all assay batches are accompanied by rigorous Quality Assurance procedures that include insertion of standards and blanks and verification assays in a secondary laboratory. Quality Control results, including the laboratory's control samples, are evaluated immediately on reception of batch results and corrections implemented immediately if necessary. All drill collars are surveyed and positioned in UTM coordinates. Downhole deviations surveys are done with a single-shot gyroscopic instrument at 30m intervals. 

For information and updates on QC Copper and Gold, please visit: www.qccopper.com 

And please follow us on Twitter @qccoppergold
To speak to the Company directly, please contact 
Stephen Stewart, Chief Executive Officer 
Phone: 416.644.1567
Email: sstewart@qccopper.com 

Neither 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. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. QC Copper and Gold Inc. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to QC Copper and Gold Inc. Additional information identifying risks and uncertainties is contained in filings by QC Copper and Gold Inc. with Canadian securities regulators, which filings are available under QC Copper and Gold Inc. profile at www.sedar.com.