MONTREAL, July 12, 2019 (GLOBE NEWSWIRE) -- Quebec Precious Metals Corporation (TSX.V: CJC, FSE: YXEP, OTC-BB: CJCFF) (“QPM” or the “Company”) is pleased to report that it has engaged SGS Canada Inc. (“SGS”) to provide independent technical consulting assistance in connection with the development of a three-dimensional resource model for its 100% owned flagship Sakami gold Project (the “Project”) located in the Eeyou Istchee James Bay territory, Quebec. SGS provides an experienced team of engineers and geoscientists with significant technical expertise pertaining to the development of the model. The Corporation will also have other independent consultants involved in the preparation and validation of the resource model.

In 2017 SGS prepared a NI 43-101 technical report on the Project (available on QPM’s web site and on Sedar’s web site at www.sedar.com), for Canada Strategic Metals Inc. (“Canada Strategic”) and Matamec Explorations Inc. (“Matamec”) with a date of issue of November 24, 2017. On June 28, 2018 Canada Strategic and Matamec announced the closing of the business combination to create QPM.

Stock options for non-new directors and officers

The Company also announces that it has granted an aggregate of 1,100,000 stock options (the “Options”) of the Company. Of this number, 1,000,000 have been granted to its non-new directors and officers, and 100,000 to two consultants. Each Option entitles its holder to purchase one common share of the Company at a price of $0.35 per share for a five-year period, vesting 1/3  at the time of grant, 1/3 on the first anniversary of the date of grant and 1/3 on the second anniversary of the grant. Options granted to the consultants are exercisable for a two-year period and will vest immediately. Options are granted in accordance with Policy 4.4 of the TSX Venture Exchange and the terms and conditions of the Company’s stock option plan (the “Stock Option Plan”).

Qualified Persons

Normand Champigny, Eng., Chief  Executive Officer of the Company, and Jean-Sébastien Lavallée (OGQ #773), geologist, Vice-President Exploration, director and shareholder of the Company, both Qualified Persons under NI 43- 101 on standards of disclosure for mineral projects, have prepared and approved the technical content of this release.

About Quebec Precious Metals Corporation

QPM is a new gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Goldcorp Corporation’s Éléonore gold mine. QPM’s flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM’s goal is to rapidly explore this project to advance it to the mineral resource estimate stage.

For more information please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

Paradox Public Relations
Tel: 514 341-0408

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

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.