Mr. Albert Contardi reports

QCX GOLD ANNOUNCES PROPOSED DEBT SETTLEMENT

QCX Gold Corp. intends to settle an aggregate of $272,088.34 of indebtedness to arm's-length and non-arm's-length creditors of the company, through the issuance of 1,060,358 common shares in the capital of the company at a price of 25.66 cents per common share.

The completion of the debt settlement remains subject to the approval of all regulatory and other approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the debt settlement will be subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.

The debt settlement constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as an insider of the company will receive 622,565 common shares. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the company is not listed on a specified market and the fair market value of the common shares issuable to the insider in connection with the proposed debt settlement does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101.

About QCX Gold Corp.

QCX Gold is exploring for gold and VMS-style (volcanogenic massive sulphide) mineralization on its highly prospective and well-located properties in Quebec, Canada. The Golden Giant project is located in the James Bay region, only 2.9 kilometres from Azimut Exploration Inc.'s Patwon discovery on the Elmer gold project. The Fernet project is located in the Abitibi greenstone belt and is contiguous with Wallbridge Mining Company Ltd.'s Fenelon/Martiniere property. Both properties are in close proximity to major discoveries, which bodes well for exploration.

We seek Safe Harbor.