Mr. Peter Tagliamonte reports

QGOLD INITIATES 2026 DRILLING CAMPAIGN AT MINE CENTRE

Q-Gold Resources Ltd. has started its 2026 drilling campaign at its Mine Centre gold project in Ontario. The planned program will initially focus on targets around the Foley mine, extending the known veins along strike and dip. A second phase planned for soon after the completion of the initial phase will follow up on the high-grade soil samples achieved during the company's summer field mapping and sampling campaign (see the company's press release dated Sept. 14, 2026, a copy of which is available under the company's SEDAR+ profile).

Highlights:

• Q-Gold's 2026 drilling program commenced on Sept. 12, 2026.
• The initial phase will target mineralized vein systems approximately 500 metres northeast of the Foley mine as well as the South Foley area, where drilling is designed to expand the known mineralized zone along strike to the south.
• The first four planned holes are completed at the Zinc and Twin vein targets in the area south of the historic Foley mine, and the next holes in the planned drilling program have already been started.
• The second phase will focus on further expansion of the South Foley mineralized system. Additionally, drilling will test priority showings farther to the northeast of the Foley mine identified during the 2026 summer field program, including areas where high-grade surface gold samples were collected.

Q-Gold has commenced its planned drilling program targeting the Zinc and Twin veins and the area south of the historic Foley mine, where the Bonanza, Jumbo, Vowel, Lucky Joe, Daisy and Foley South veins converge within a few hundred metres of one.

Observed vein widths range from approximately 0.3 metre to several metres. In addition to testing the wider veins, the program will systematically log, map and model smaller, potentially gold-bearing veinlets. This work will improve the understanding of the geometry, distribution and continuity of the vein system and help assess the contribution of these veinlets to the broader mineralized system.

Should drilling confirm sufficient gold grades and continuity across the principal veins and surrounding veinlet network, the results could warrant evaluation of an open-pit mining concept instead of a conventional underground mining option. The suitability of either approach would remain subject to further technical and economic assessment. The additional drilling information and updated geological modelling are intended to support an initial mineral resource estimate for the Foley mine area, subject to sufficient data quality, drill coverage, and demonstrated geological and grade continuity.

Farther north, Q-Gold plans to undertake exploratory drilling to follow up on elevated gold values returned from soil sampling near the historical Ferguson showing.

"We are excited to have resumed drilling in the vicinity of the Foley mine," said Dr. Andy Rompel, chief operating officer of the company. "This phase of the program will follow up on encouraging grab sample results south of the Foley shaft and build on the substantial exploration database already established in this area. Our objective is to advance the project towards an initial mineral resource estimate early next year.

"The second phase of this year's drilling program will test additional exploration targets farther north, following up on promising grab sample results from historic veins in the vicinity of the Manhattan vein and Golden Star mine, where historical workings date back to the first half of the 20th century. This work will help us assess the potential to identify additional zones of gold mineralization beyond the immediate Foley mine area."

About Q-Gold Resources Ltd.

Q-Gold Resources is a Canadian gold development and exploration company focused on advancing high-quality gold assets in North America. The company is 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.

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

Qualified person

Jason Arnold, PGeo, president of DCX Geological Consulting, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this news release. Mr. Arnold is a consultant of the company and is not independent of the company within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects.

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