Highlights:

• QC Copper conducted AI analysis using extensive, high-quality geological data, identifying five top-priority drill targets
   
• AI Targeting is aimed at new discoveries on QC Copper’s ~25,000 hectare Opemiska Project
   
• Priority drilling for 2024 includes drilling select AI areas and at the Cook and Robitaille former mine sites to delineate their resources

Toronto, ON – January 25, 2024 – QC Copper and Gold Inc. ("QC Copper" or the "Company") (TSXV: QCCU) is pleased to announce that it has received Windfall Geotech's final report on its Artificial Intelligence (AI) analysis for Opemiska, leveraging substantial historical drilling, geophysics, and sampling data from QC Copper's ~25,000-hectare land. This rich dataset enables the AI software to identify patterns and trends effectively, pinpointing drill-worthy targets for 2024 exploration.

The success of the AI software hinges on the quantity and quality of geological inputs, making Opemiska's extensive validated data an ideal candidate. In addition to the preliminary targets highlighted in QC Copper's January 16, 2024, news release, this AI assessment has generated multiple AI target models across the Opemiska property, specifically emphasizing Robitaille and Cooke. Five target areas were identified for detailed exploration and drilling.

Map of high potential targets delineated by Artificial Intelligence Report (See Figure 1)

Target 1 known as the Chibougamau Copper showing, is a significant historical copper/gold site extending 1.5 kilometers in length and up to 300 meters in width. It marks the western contact of the Venture Sill on the south side of the Gwillim Fault. Although the target area doesn't outcrop, it exhibits a magnetic signature that previous operators drilled in different directions. Previous drilling revealed copper-rich veins, but no dominant structural direction was defined. The magnetic signature resembles the Venture Sill at Springer and Perry mines, with drilling encountering mainly gabbro and pyroxenite—similar lithologies to the Opemiska conceptual pit. To better understand mineralized structures, oriented drilling will be essential, but historical descriptions align with Opemiska-type mineralization.

Target 2 covers a north-northeast trending magnetic anomaly parallel to Target 1 and is located in the Venture Sill about 1.5 kilometres to the east. No outcrops are nearby, but a few historical drill holes were collared, intersecting gabbro and pyroxenite and a few chlorite-chalcopyrite shear veins.

Target 3 is about 4.5 kilometres northeast of the Cooke Mine along the Gwillim Fault. Although the evidentiary basis for the target is unclear, the presence of copper mineralization at nearby Lac Springer, along the fault, is consistent with our target modelling. These three targets do not outcrop and would merit an Induced Polarization (IP) geophysical survey to highlight the presence of disseminated sulphides.

Target 4 sits just north of Opemiska’s conceptual MRE pit. It is characterized by magnetic gabbro from the Bourbeau Sill, the uppermost intrusion of the Cummings Complex, and notably hosts the gold-rich Cooke Mine. Despite this, nearby drill holes have not intersected any of the four defined target polygons. Air photos indicate no visible outcrop in the region, with historical tailings covering all but one polygon. To explore for disseminated mineralization, it's advised to conduct IP surveying.

Target 5 occurs in the magnetic gabbro and pyroxenite facies of the Venture Sill approximately 4 kilometres northwest of Target 4. Air photos suggest the presence of outcrops in the area and prospecting is recommended to be the probable cause of the AI response.

About the Opemiska Copper Complex

The Opemiska Copper Complex is adjacent to Chapais, Quebec, within the Chibougamau district. Opemiska is also within the Abitibi Greenstone Belt and within the boundaries of the Province of Quebec's Plan Nord, which promotes and funds infrastructure and development of natural resource projects. The 100% QC Copper owned Opemiska Property covers 24,544 hectares and includes the past-producing Springer, Perry, Robitaille and Cooke mines, previously owned and operated by Falconbridge between 1953-1991. The project hosts excellent on-site infrastructure, including a power station and direct access to Highway 113 and the Canadian National Railway. The Cooke and Robitaille Mines are situated on the Cooke-Robitaille option claims. QC Copper is working through its obligations regarding the option having the financial resources and expects to exercise the option in due course. All the other claims that comprise the Greater Opemiska Project are wholly-owned by QC Copper and Gold Inc.

Opemiska’s Mineral Resource Estimate

The Company published a mineral resource estimate, which has a total Measured and Indicated resource of 97.5 million tonnes grading 0.81% copper, 0.27 g/t gold and 1.76 g/t silver and an additional 11.0 million tonnes at 0.53% copper, 0.20 g/t gold and 2.58 g/t silver in the Inferred category. The new resource saw a 26% increase in the copper total grade, an 11% increase in CuEq(*) total grade, and a 16% rise in copper equivalent pounds compared to the 2021 Measured and Indicated Mineral Resource Estimate.

In addition, the Company defined a sizeable starter pit comprising 19.1 million tonnes at 1.1% CuEq, all in the Measured and Indicated Mineral Resources categories.

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 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@oregroup.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accept responsibility for this release's adequacy or accuracy. Certain information in this press release may contain forward-looking statements. This information is based on current expectations 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. assume 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 QC Copper and Gold Inc. filings with Canadian securities regulators, which filings are available under QC Copper and Gold Inc. profile at www.sedarplus.ca.