QMines Limited provided the following results from the ongoing RC drilling program at its Mt Chalmers Copper Project, located 17km north-east of Rockhampton in Queensland. High-grade copper equivalent (CuEq) results have been intersected in the nine most recent RC drill holes reported from the May - June drilling program, including up to 5.1% CuEq in MCRC012 and 4.1% CuEq in MCRC017. Base and precious metal grades from the May - June drilling program.

The Company continued RC drilling operations at Mt Chalmers during June with an additional eight RC holes completed for 1,015 metres drilled. The holes drilled to date represent the continuation of the planned 30,000 metre RC program. All drillholes were sampled at one metre intervals with samples being submitted to ALS Laboratories in Brisbane for assay.

The aim of the current drill program is to expand the resource (step-out drilling), and upgrade the resource by infilling areas of low confidence. Mineralised intersections in some holes are broader than expected based on historic drilling. In addition to broader zones of mineralisation, stacked mineralisation horizons have also been noted.

The current program comprises a planned 30,000m drilling program for 50 RC holes designed to identify new mineralisation and provide a greater understanding of the geological controls. RC holes MCRC012 - MCRC016 and MCRC028 were drilled across the north-eastern end of the Main Pit. Holes MCRC017 - MCRC027 were drilled along the western side of both the Main Pit and the West Pit.

Results for holes MCRC012 - MCRC020 have been received and have returned high-grade results over broad widths including 69m @ 2.03% CuEq in MCRC012 and 15m @ 2.08% CuEq in MCRC017. The recent drilling has assisted in identifying a second mineralised horizon not previously recognised. The second horizon is present below the current resource wireframes and has been observed in multiple holes.

Going forward, QMines will deliver its results as CuEq with base and precious metal assays that make the CuEq. Metal Price Assumptions and Metal Recovery used in the calculations are consistent with the Company's recent resource upgrade delivered to the market in December 2021. The current drilling program at Mt Chalmers is planned to continue throughout Second Quarter and into Q3-2022 for a total program of approximately 30,000 metres (3,177m now completed) with results now being reported on a regular basis.

So far in June, the Company has completed approximately 1,015 metres of RC drilling. This is in line with Company's monthly expectations for metres drilled and will continue to provide investors with consistent news flow over the coming months.