Mr. Peter Tagliamonte reports

QGOLD ANNOUNCES FILING OF PRELIMINARY SHORT FORM BASE SHELF PROSPECTUS

Q-Gold Resources Ltd. has filed a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada.

The preliminary shelf prospectus is subject to regulatory review. The filing of the preliminary shelf prospectus is intended to provide the company with financing flexibility. Upon a final base shelf prospectus becoming effective, these filings, subject to securities regulatory requirements, will allow the company to qualify the distribution of up to $300-million of common shares, preferred shares, debt securities, subscription receipts, warrants or any combination thereof from time to time over a 25-month period that the final shelf prospectus remains effective. The specific terms of any future offering of securities (if any) will be set forth in a shelf prospectus supplement, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

Each prospectus supplement will contain specific information concerning, among other matters, the securities to be issued and the use of proceeds from any such issuance. There is no certainty that any securities will be offered or sold under the final shelf prospectus and any prospectus supplement within the 25-month period that it is effective. A copy of the preliminary shelf prospectus, and copies of the final shelf prospectus and any prospectus supplements that may be filed in the future, can be found under the company's SEDAR+ profile.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian gold development company focused on advancing high-quality gold assets in North America, led by the Quartz Mountain gold project in Oregon, United States -- a large-scale gold development project with strong economics, long-term scalability and district-scale exploration potential.

The company remains focused on disciplined project advancement, responsible resource development and long-term shareholder value creation through the development of high-quality North American gold assets.

We seek Safe Harbor.