Mr. Robert Dickinson reports

QUARTZ CLOSES $1.7 MILLION UNIT FINANCING

Quartz Mountain Resources Ltd. has closed the private placement of 4,247,500 units for gross proceeds of $1.7-million, further to its previous press releases dated Sept. 24, 2026, and Oct. 1, 2026. The company now has a total current working capital position of $4-million.

A total of 1.5 million FT units were issued to Robert Dickinson, chairman of the company, and his associates. A total of his 1.5 million units were issued to The Sutton Group Inc., an insider of the company.

The company intends to use the net proceeds of the FT units exclusively for exploration of Quartz's portfolio of British Columbia gold-silver-copper projects, while the proceeds of the non-FT units will be used for exploration of Quartz's portfolio of British Columbia gold-silver-copper projects and for general working capital purposes.

All securities issued pursuant to the offering will be subject to a statutory hold period in Canada expiring four months and one day after closing of the offering. Completion of the offering is subject to final approval of the TSX Venture Exchange. No securities were sold to United States persons.

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 advancing important-scale gold, silver and copper projects in British Columbia. The company owns 100 per cnet of the Maestro gold-silver project and 100 per cent of the Jake porphyry copper-gold-silver project. Both projects are permitted by the B.C. 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 that are currently producing or were formerly producing mines. Recently, Amarc Resources, an HDI-associated company, with funding from Freeport-McMoran Inc., announced the exciting discovery of the Tier 1 Aurora gold-copper porphyry deposit also in British Columbia. Other well-known projects with HDI involvement include Sisson, Duke 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.

We seek Safe Harbor.