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Q-Gold Resources Ltd. (TSXV: QGR; OTCQB: QGLDF) ("QGold" or the "Company") is pleased to announce commencement of its second diamond drilling campaign of 2025 at the Mine Centre Gold Project in northwestern Ontario. Rodren Drilling of Winnipeg, Manitoba has again been engaged as the drilling contractor. Critical Discoveries, a prominent geological consulting firm, also based in Winnipeg, Manitoba has been appointed as Project Manager looking after the drilling, logging and sampling at the new campaign.
The Mine Centre Gold Project is strategically located in the Quetico region of northwestern Ontario, in proximity to the producing Rainy River Mine (New Gold) and the Hammond Reef Development Project (Agnico Eagle).
" Our work to date has focused on just six veins in an area that we know hosts more than fifty gold-bearing structures. This follow-up campaign represents an important step in defining the scale and continuity of mineralization at the historic Foley Mine area." commented Peter Tagliamonte, President and CEO of QGold. " It's a very exciting next step and we are very pleased and excited to continue our systematic exploration at Mine Centre where great opportunity for significant value creation exists ."
This follow-up drilling campaign will target high-grade auriferous quartz veins in the vicinity of the historic Foley Mine shaft. The program aims to extend the known strike length and vertical extent of gold-bearing veins identified in previous drilling campaigns, advancing the project toward a maiden NI 43-101 compliant resource estimate.
The Company initiated its 2025 exploration strategy, targeting the historic Foley Gold Mine and adjacent vein systems, by drilling an initial six diamond drill holes within the Mine Centre property.
This second drilling campaign will now build on the successful results from QGold's 2021, 2022, and the first 2025 drilling programs earlier in the year. The current program objectives include:
- Following up on high-grade vein intersections from previous campaigns
- Extending the strike length and vertical extent of mineralized zones
- Testing additional vein targets within the property
- Advancing data collection toward a maiden NI 43-101 compliant mineral resource estimate
The QGold exploration team in conjunction with Critical Discoveries will oversee all technical aspects of the program, including core logging, sampling protocols, and sample submission to certified assay laboratories.
Results from drilling are expected in Q1 of 2026.
About the Mine Centre Gold Project
Historically, the area around Mine Centre in Ontario was involved in gold mining, most notably the Foley Gold Mine, which operated intermittently from the 1890s until 1927 when operations ceased due to the Great Depression. The Foley Gold Mine was developed starting in the 1890s, with a Foley Shaft being sunk to the 400' level. Between 1898 and 1900, 10,500 tons of ore were mined from the 100' level, yielding 5,267 ounces of gold. Work continued between 1923 and 1927, including shaft sinking and the excavation of drifts on several levels. Operations halted in 1927 because of the low gold prices and the Great Depression. Foley and MacKenzie Gray mines were later worked again in the 1970s and 1980s. Exploration continued sporadically until recently, when QGold started exploration around Foley again.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Jason Arnold, P.Geo., an independent consultant who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects .
About QGold Resources Ltd.
Q-Gold Resources Ltd. (TSXV: QGR; OTCQB: QGLDF; Börse Frankfurt: QX9G) is a publicly traded North American-based mineral exploration and development company focused on advancing gold and silver projects in mining-friendly jurisdictions across North America.
The Company's shares are listed on the TSX Venture Exchange under the symbol "QGR", the OTCQB ® market in the United States under "QGLDF", and the Börse Frankfurt exchange under "QX9G".
QGold is committed to advancing its portfolio of gold and silver assets toward production, with its primary focus on its flagship Quartz Mountain Gold Project in Oregon (USA) and the Mine Centre Gold Project in Ontario (Canada).
QGold focuses on resource expansion through systematic exploration, disciplined project development backed by rigorous technical work, and responsible environmental stewardship in mining-friendly jurisdictions with established infrastructure.
For further information, contact:
Peter Tagliamonte
Chief Executive Officer
Email: pwt@qgoldresources.com
Website: https://qgoldresources.com
Cell: +1 (416) 564-2880
Cautionary Notes
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect the Company's second 2025 drill campaign at its Mine Centre Gold Project, as well as the anticipated timing of results, and the Company's beliefs, plans, expectations or intentions for the exploration campaign and the Quartz Mountain Gold Project and Mine Centre Gold Project more broadly, and more particularly the Company's plans to delineate a NI 43-101 compliant mineral resource estimate at the Mine Centre Gold Project. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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