QUEBEC SILICA RESOURCES CORP. ACQUIRES ADDITIONAL SILICA EXPLORATION ASSETS FROM HPQ SILICON INC.

Vancouver, British ColumbiaQuebec Silica Resources Corporation. (CSE: QTZ) (“Quebec Silica” or the “Company”) has entered into a property acquisition transaction with HPQ Silicon Inc. (“HPQ”) regarding the sale of HPQ’s remaining exploration assets, the Roncesvalles and Martinville Quartz properties, for a $300,000 consideration.

RONCESVALLES AND MARTINVILLE PROPERTIES OF QUARTZ

The Roncesvalles property is in the Matapedia region of Gaspesieabout 75 km south of Causapscal and is made up of 27 map-designated cells (Claims) covering a total of 1,551 hectares available for exploration. The Martinville property is located in the Eastern Townships, 180 km east of Montreal30 km south of Sherbrooke and is made up of 36 map-designated cells (Claims) covering a total of 2,179 hectares available for exploration. Both properties were no longer classified as “Exploration Properties” in HPQ’s financial statements; but were renamed “Exploration and Evaluation Assets Held for Sale” due to the company’s change in classification.

HIGHLIGHT OF THE TRANSACTION

Pursuant to the “arm’s length transaction”, and subject to both parties obtaining the required regulatory approvals, HPQ agrees to transfer to QTZ 100% interest in both properties and QTZ agrees to issue to HPQ 3,000,000 of acquisition units, at the price of $0.10 per Acquisition Unit ($300,000). Each vesting unit consists of one (1) vesting share and one-half (1/2) vesting warrant, each warrant entitling HPQ to purchase one (1) share ordinary at the price of $0.15 for a period of three (3) years following the Completion Date. The exact closing date of the transaction will be announced once all regulatory approvals have been received for HPQ and QTZ.

HPQ CEO Bernard Tourillon commented: “With HPQ now classified as a Tier 1 Industrial, Technology or Life Sciences issuer; combined with the PUREVAPTM GEN3 QRR pilot plant about to be commissioned, the time was ripe for us to transition from all exploration assets. HPQ’s value proposition stems from harnessing the potential of its silicon materials innovations: the manufacturing and commercialization of silicon and nanosilicon materials necessary for ESG-compliant silicon materials. With this transaction, we can focus all of our efforts on our silicon initiatives and let QTZ focus on developing quartz resources.

CEO of QTZ Raymond Wladichuk, commented, “We are delighted to expand our portfolio of silica assets and establish a positive business relationship with HPQ. The addition of these silica assets is in line with QTZ’s vision to build a portfolio of silica resources in Quebec.’

About HPQ Silicon Resources

HPQ Silicon Inc. (TSX-V: HPQ) is a Quebecis an innovative silicon solutions company that offers silica (SiO2) and silicon (Si) based solutions and develops a unique portfolio of high value-added silicon (Si) products sought after by battery and vehicle manufacturers electrical, among other industries.

Silicon (Si), also called silicon metal, is today one of the main strategic materials needed for the decarbonization of the economy and the renewable energy revolution (RER). However, silicon does not exist in a pure state and must be extracted from quartz (SiO2) in what has always been a capital and energy-intensive process.

With PyroGenesis Canada Inc.(TSX: PYR) (NASDAQ: PYR), HPQ develops:

1. PUREVAPTM ‘Quartz Reduction Reactors’ (QRR), an innovative process (patent issued in United States and pending in other jurisdictions), which will enable the one-step transformation of quartz (SiO2) into high-purity silicon (Si) at reduced cost, energy input and carbon footprint that will propagate its enormous energy potential renewable.

2. Through its wholly-owned subsidiary, HPQ NANO Silicon Powders Inc.The PUREVAPTM Nano Silicon Reactor (NSiR) is a new proprietary process that can use the material produced by the QRR as a raw material, to manufacture a wide range of nano/micro spherical powders and nanowires of different sizes.

3. Through its second wholly-owned subsidiary, HPQ Silica POLVERE Inc.HPQ is developing a new plasma-based process that enables direct transformation of quartz into fumed silica, eliminating the use of hazardous chemicals in the manufacture of fumed silica and eliminating the Hydrogen chloride gas (HCI) associated with its manufacture.

HPQ is also a technology development company interested in developing hydrogen-based businesses that could complement QRR’s efforts. Currently, HPQ is evaluating two different approaches to achieve this goal, namely:

1. Work with the Swiss company EBH2 Systems SAS on their exclusive process for producing green hydrogen by electrolysis, and

2. Develop HPQ’s own hydrogen manufacturing processes by hydrolysis of nanosilicon materials manufactured by our PUREVAPTM (NSiR).

About Quebec Silica Resources Corporation.

Quebec Silica is a mining exploration company focused on the acquisition and exploration of mineral resource properties, with an emphasis on the Charlevoix Silica property located near Saint-Urbain, Quebec, Canada. Quebec Silica’s objective is to explore, develop and supply silica resources for the new green economy such as silicon-lithium batteries, solar silicon, telecommunications and optics, and biomedical applications.

Additional information about Quebec Silica is available at www.quebecsilica.com.

Contact:

Quebec Silica Resources Corporation.

Raymond Wladichuk, P. Geo.

Chief executive officer

E: [email protected]

T: 1-877-774-5422

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release and has neither endorsed nor disapproved of the contents of this press release.

Raymond Wladichuk, P. Geo., (OGQ license number: 02287), is the CEO of Quebec Silica Resources Corporation.and a Qualified Person for National Instrument 43-101 – Standards for Disclosure of Mining Projects has reviewed and approved the scientific and technical information contained in the press release.

Forward-looking statements

This press release contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quebec Silica or developments in the industry to differ materially from the results, performance or achievements anticipated. expressed or implied by these forward-looking statements. research statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to ‘, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘could’, ‘could’ or ‘should’ occur.

Although Quebec Silica believes that the forward-looking information contained in this press release is reasonable based on information available as of the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors that may cause our results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or the inability to access sufficient capital on favorable terms; the mining industry and the markets Canada and generally; the ability of Quebec Silica to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this press release represents the Company’s expectations as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely on such information as of any other date. Although the Company may choose to do so, it does not undertake to update this information at any given time, except as required under applicable laws.

Comments are closed.