QMC RESPONDS TO ANNOUNCEMENT OF CANADIAN ELECTRIC VEHICLE PRODUCTION

October 20, 2020 Vancouver, British Columbia: QMC Quantum Minerals Corp., (TSX.V: QMC) (FSE: 3LQ)  (OTC PINK: QMCQF) (“QMC” or “the Company”) is extremely pleased with the recent $3.3B CDN funding  announcement to build Electric Vehicles (“EV”) and batteries within Canada as the company is ideally positioned to  source the required metals. 

HIGHLIGHTS: 

$1.8 Billion Federal and Provincial Funding for Oakville EV plant 

$1.5 Billion Fiat Chrysler investment in Windsor EV plant 

Critical elements: lithium, copper, zinc, nickel 

Historical resource of 1.2M tons of 1.51% lithium oxide 

Extensive potential of copper, nickel, gold, and zinc with 41 deposit potential targets 

QMC is in an extremely favourable position to gain significantly through the announcement on October 8th by the  Federal Government of Canada and the Province of Ontario that they would provide a total investment commitment  of $590 million CDN into the $1.8-billion CDN retooling of Ford Motor’s Oakville Ontario assembly plant making it  the hub of EV production in Canada. This investment and retooling will make Ford Motor’s Canadian production  facility the largest electric vehicle assembly plant in North America. This project will build five new electric vehicle  models and the batteries that will power these vehicles. 

Fiat Chrysler followed up a week later announcing a $1.5-billion investment in their Windsor assembly plant. The  investment would outfit the factory with the state-of-the-art equipment that will enable the assembly of plug-in hybrids  and battery-powered vehicles with at least one new model in 2025. The plant will add up to 2,000 jobs to the Windsor  plant.  

To produce these vehicles specialized raw materials will be required. In addition to typical commodities required to  manufacture vehicles, EVs require four additional critical elements: lithium, copper, zinc, and nickel which QMC is  moving towards becoming a producer of ALL of these commodities (plus potentially gaining platinum, palladium,  silver and gold credits) through the ongoing development of its Irgon Lithium (Spodumene) Mine Project and Namew  Lake District (Volcanic Massive Sulphide (“VMS”) Projects. 

Namew Lake District Project  

Situated in the renowned Flin Flon and Snow Lake districts of Manitoba known for its world-class VMS deposits, the  company land package covers 55,000 acres. The project is contiguous to the western side of Hudbay Minerals’ (HBM TSX) Namew Lake Mine which has produced 2.57 million tons of nickel, copper, palladium, and platinum. The  Namew Lake Project is also in the vicinity of the currently producing 777 and Lalor mines, in addition to being  proximal to the past-producing Reed Lake Mine. In addition to being in close proximity to these other deposits, the  company’s district sized Namew Lake Project displays similar underlying geology to the aforementioned mines. The  project hosts 41 deposit sized targets outlined in a versatile time domain electromagnetic (VTEM) system survey.  

The Irgon Lithium Mine Project 

Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and subsequently  reported a historical resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 meters and  to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented  in a 1956 Assessment Report by B. B. Bannatyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment  Report No. 94932). This historical estimate is believed to be based on reasonable assumptions, and neither the  company nor the QP has any reason to contest the document’s relevance and reliability. The detailed channel sampling  and a subsequent drill program will be required to update this historical resource to current NI 43-101 standards.  Historic metallurgical tests reported an 87% recovery from which a concentrate averaging 5.9% Li2O was obtained. 

During this historical 1950-era work program, a complete mining plant was installed onsite, designed to process 500  tons of ore per day, and a three-compartment shaft was sunk to a depth of 74 meters. On the 61-metre level, lateral  development was extended off the shaft for a total of 366 meters of drifting, from which seven crosscuts transected  the dike. 

The Company has had recent discussions with Sinomine Group, Co., Ltd. (“Sinomine”) to process spodumene material  from the Irgon Lithium Mine Property at their TANCO plant. The TANCO plant is easily accessible, located approximately 20km directly south of the Irgon Lithium Mine Property via Highway 314. The TANCO management  have provided the Company with an estimate to prepare samples (crushing and grinding), floatation testing, assaying  and analysis for preliminary metallurgical evaluation. The testing will provide the Company with a lithium  concentrate, in the past the TANCO circuitry was able to achieve lithium concentrate levels up 7.25% Li2O to Dow  Corning. The Company expects to achieve at least 6% Li2O in this round of testing. 

The mineral reserve cited above is presented as a historical estimate and uses historical terminology  which does not conform to current NI43-101 standards. A qualified person has not done sufficient work  to classify the historical estimate as current mineral resources or mineral reserves. Although the  historical estimates are believed to be based on reasonable assumptions, they were calculated prior to the  implementation of National Instrument 43-101. These historical estimates do not meet current standards  as defined under sections 1.2 and 1.3 of NI 43-101; consequently, the issuer is not treating the historical  estimate as current mineral resources or mineral reserves. 

Qualified Person  

The technical content of this news release has been reviewed and approved by Bruce E. Goad, P. Geo., a qualified  person as defined by National Instrument 43-101. 

About the Company 

QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of  resource properties. Its objective is to locate and develop economic precious, base, rare metal resource properties of  merit. The Company’s properties include the Irgon Lithium Mine Project and two VMS properties, the Rocky Lake  and Rocky-Namew, known collectively as the Namew Lake District Project. Currently, all of the company’s properties  are located in Manitoba. 

On behalf of the Board of Directors of 

QMC QUANTUM MINERALS CORP. 

“Balraj Mann” 

Balraj Mann 

President and Chief Executive Officer 

604-601-2018 

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