Mr. Robert Dickinson reports

QUARTZ ANNOUNCES SIGNIFICANT INDUCED POLARIZATION SURVEY RESULTS FOR MAESTRO GOLD-SILVER PROJECT, BRITISH COLUMBIA

Quartz Mountain Resources Ltd. has received the results of an induced polarization (IP) geophysical survey completed over key portions of its Maestro property by Peter E. Walcott and Associates Ltd. The IP survey was very successful in outlining sulphide mineralized systems on Maestro, including the Prodigy epithermal and porphyry gold-silver discoveries.

Bob Dickinson, Quartz's chairman, commented: "Quartz was built with the mission to discover and transact high-value gold-silver-copper projects that are coveted by major operators. The Maestro IP survey results and upcoming drill program are part of our focused efforts to create significant shareholder value. IP surveying is widely known to be very useful in outlining sulphide mineral systems like our Prodigy gold-silver discovery. The survey has successfully outlined a three-square-kilometre sulphide system, and most importantly where our Prodigy gold-silver discovery fits within that system. Since Prodigy's geological environment is extensively replicated on the property, this scientific knowledge is potentially pivotal and will greatly enhance the potential success of our drill program which is set to mobilize on Feb. 3. The potential for this project is significant and we are looking forward to the results from the upcoming drill program."

Highlights:

• High-resolution IP survey successfully outlines Maestro's sulphide mineral systems, including the Prodigy Au-Ag discovery;
• Large, highly prospective "donut-shaped" sulphide system identified, measuring approximately 2.1 kilometres by 1.4 kilometres;
• Distinct central core and surrounding sulphide halo mapped, and position of the Prodigy epithermal and porphyry gold-silver discovery defined within the overall sulphide system;
• Prodigy Au-Ag discovery located adjacent to central core in the high-chargeability margin of the system, a geological environment that is extensively replicated on the property;
• Survey results significantly enhance the potential success of the next drill program which is set to commence Feb. 3.

The deep sensing IP survey obtained high-resolution chargeability and resistivity responses over the area proximal to the Prodigy Au-Ag discovery and the Lone Pine molybdenum deposit located one kilometre to the south. Importantly, the chargeability responses not only outlined the entire sulphide mineralized system but the specific geological environment and location of the Prodigy discovery mineralization within it.

The modelled chargeability response shows the Maestro property is underlain by a large and highly prospective donut-shaped sulphide system measuring 2.1 kilometres north-south and 1.4 kilomeres east-west. In the area of the Prodigy discovery a distinct central core of low to moderate chargeability can be readily observed in the modelled response. This 400-metre-by-800-metre north-northwesterly trending core is surrounded by an over 200-metre-wide carapace or halo of higher chargeability. The core is associated with an intrusive hosted molybdenum-copper deposit while the chargeability high carapace is indicating higher concentrations of sulphide mineralization surrounding the core. The Prodigy zone is located on the western edge of the core in the higher chargeability response indicating that stronger sulphide mineralized portions of the carapace surrounding the Mo-Cu porphyry core should be targeted for Prodigy style mineralization. Since the trace of Prodigy's location at the core-carapace contact is extensive, the surveys successful definition of the geological environment where the Prodigy epithermal and porphyry Au-Ag mineralization is located is potentially pivotal. The upcoming program planned to mobilize Feb. 3, is designed to test this premise.

About Quartz Mountain Resources Ltd.

Headquartered in Vancouver, Canada, Quartz Mountain Resources is a well-financed public company whose successful mine-finding management team is focused on discovering and transacting important-scale gold, silver and copper projects in British Columbia. The company owns 100 per cent of the Maestro gold-silver project and 100 per cent of the Jake porphyry copper-gold-silver project. Both projects are permitted by the British Columbia government for drilling activities with access to infrastructure and high potential for the development of substantial resources for significant future transactions.

Quartz is associated with Hunter Dickinson Inc. (HDI), a company with over 35 years of successfully discovering, developing and transacting mineral projects in Canada and internationally. Former HDI projects in British Columbia included Mount Milligan, Kemess South and Gibraltar, all of which are porphyry-copper plus or minus gold deposits with current-producing or former-producing mines. Recently, Amarc Resources, also an associate of HDI, which is in joint venture with Freeport Minerals Canada Inc., announced the exciting discovery of the high-grade, Aurora gold-copper porphyry deposit in British Columbia. Other well-known projects with HDI involvement include Sisson and Prosperity in Canada, Pebble and Florence in the United States, and Xietongmen in China.

Quartz is committed to the advancement of important-scale, critical and essential mining assets while following responsible mineral development principles, including a mandate to employ best-practice approaches in the engagement and involvement of local communities and meeting rigorous environmental standards.

About Maestro

The Maestro project, located in central British Columbia, lies adjacent to Highway 16, 15 km north of Houston and 45 km south of Smithers, providing year-round road access to the project, and nearby infrastructure including, rail, hydroelectricity and natural gas. Covering 2,422 hectares, it has a rich exploration history dating back to 1914, primarily focusing on the Lone Pine Mo-Cu porphyry deposit and not the precious metals potential of the surrounding area (see Quartz news release March 19, 2024, and National Instrument 43-101 technical report and preliminary economic assessment, P&E Mining Consultants Inc., Jan. 21, 2011).

Since acquiring the property, Quartz has conducted comprehensive geochemical and geophysical surveys, including soil/silt sampling, induced polarization geophysics, airborne magnetic surveys, hyperspectral studies, detailed relogging and reassaying of historical drill core located across the Maestro property. Quartz's first ever drill test on its Maestro property, a phase one, two-hole drill program at the Prodigy zone, discovered exciting high-grade Au-Ag lodes and Ag-Au veins, which are both hosted within an extensive epithermal Au-Ag system. The Au lodes and Ag veins along with the more disseminated precious metals intersected by the drill holes are all hosted within a large and earlier deposited, Mo-Cu porphyry system. Quartz's second core hole, PR23-02, intersected 102 metres grading 2.22 g/t Au and 104 g/t Ag, including 12 metres grading 1.23 g/t Au and 586 g/t Ag, and also 36 metres of 5.73 g/t Au and 87 g/t Ag. Drill results to date indicate high potential for both bulk tonnage and underground high-grade gold and silver mineralization. Three phases of delineation type drilling consisting of 13 holes (8,346 metres) that focused on the new Prodigy discovery at Maestro have been completed and announced. Plans are for further drilling at Prodigy being consistently advanced in multiple stages during 2026. Mineralization remains open in multiple directions and at depth, promising significant further potential. Adding to the potential at Maestro is recent age dating of Prodigy gold-silver mineralization compares favourably to the age of the mineralizing event at British Columbia's successful new Blackwater gold mine.

About Jake

Mineralization at Jake is situated within a prominent rusty coloured gossan measuring 3.5 km long by 1.5 km wide. The combination of extensive historical and recent exploration work has outlined a very expansive altered area at Jake hosting epithermal and porphyry-style sulphide disseminations and veinlets containing Cu-Au-Ag-Zn-Mo (copper-gold-silver-zinc-molybdenum) and Re (rhenium). A series of modern surface exploration programs were first completed by Quartz to build on very compelling historical data on the property developed by legendary porphyry copper explorers, including Kennco, Canadian Superior, Cities Service, Placer Development and Teck Corp. Taken together this comprehensive technical database defined a significant-scale porphyry copper-gold deposit target which Quartz tested with 3,418 metres of drilling in seven holes during 2024. This initial drill program successfully discovered a new porphyry copper-gold-silver system, wide open to expansion. Upon discovery, Quartz acquired a 100-per-cent interest in mineral tenures over an entire new B.C. porphyry copper-gold district surrounding the Jake property. Planned delineation drilling of the new Jake discovery is currently on hold so Maestro can be advanced rapidly and effectively toward a transaction.

Qualified person

Farshad Shirmohammad, MSc, PGeo, a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Minerals Projects, who is not independent of Quartz Mountain Resources, has reviewed and approved the scientific and technical information contained in this news release.

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