Can you introduce Q2 Metals and the company’s portfolio?

Q2 Metals was a small mineral exploration company with zinc projects in British Columbia and Newfoundland. These projects were not progressing and so my fellow director, Jody Bellefleur, and I took over the company. An exploration program on the Australia gold project was completed and, although we had some encouraging results, it was a challenging time to raise further funds for a gold project. We started looking at projects in different commodities and were introduced to a prospector in northern Québec who had a project available, the Mia Lithium project, and we acquired it in November 2022. The market reacted very well. In January 2023, we started trading on the TSX as Q2 Metals, with the new name to reflect the company’s focus on our two primary assets, the Mia Lithium project in Québec and the Big Hill Gold project in Queensland.

Can you elaborate on the highlights of the 2023 exploration program at the Mia Lithium project?

The Mia Lithium project is located near the Cree community of Wemindji in Eeyou Istchee James Bay. There is confirmed mineralization on the project from sampling that was done by the government in the mid-90s, but it has historically been explored for gold and base metals. Q2 will be the first company to execute a substantial exploration program focused on lithium.

We acquired the Mia project in November 2022, and the project was under snow up until May. We did as much data compilation, satellite imagery, IP surveying, and anything else we could do to get us prepared for our inaugural drill program this summer. We had a team on the ground on June 1st, 2023, who completed several days’ worth of mapping and sampling.

The initial exploration program will consist of mapping and sampling concentrated on mineralized outcrops and a 7 km strike of pegmatite that has never been sampled. Due to the forest fires, we and other companies in the region are still not allowed back into the area, but hopefully, weather permitting, we will get back on site in the coming weeks. The plan is to drill 8,000 to 10,000 m as soon as we are allowed to resume operations.

When we first acquired Mia, we completed a financing round where we raised US$1.25 million. In February 2023, we did another financing round as we were approached by groups that wanted to invest, and we were fortunate to raise another US$10.25 million. We are well funded, with US$7.5 million of the funds raised being flow-through dollars that must be allocated to exploration work on the property.

What are the advantages of exploring lithium in Québec, and overall, the potential of James Bay?

The potential in Québec and James Bay is tremendous. Patriot Battery Metals is the darling of the James Bay region with a world-class discovery, and the provincial government is extremely supportive and often participates in financing projects in the region. It is greatly beneficial to have the government as well as end users involved in exploration projects as it will push timelines forward significantly faster. Canada can become a major hub for lithium.

What must be done at the industry level to attract more diverse talent at the top management position of mining companies?

It has been a slow process of creating diversity in the industry and I hope it is only a matter of time before it is no longer an issue. It’s going to take those wanting management positions to put themselves forward as well as those who are already in top management positions to recognize this, mentor, and bring in the next generation – not only in management but in the industry as a whole.

Why is Q2 going to be a great story for investors in the coming months?

Q2 has confirmed mineralization on our Mia Lithium project and we are well-funded for our upcoming exploration program. Our objective is to execute our strategy and hopefully make additional discoveries. As well, just north of Mia, we have the Stellar Lithium project, which is a blue sky project that has never been explored and sits on a greenstone belt. We are excited about not only the Mia project but also what the Stellar project might hold.