SRQ Resources Inc. announced highly encouraging results from a recent drilling campaign on the newly discovered ultramafic magmatic intrusive complex hosting base metal mineralisation at its Lac Brulé project in Quebec, Canada. In addition to exciting results from the Gossan Zone, the program has led to the discovery of a significant and highly prospective new geological structure/magmatic ultramafic Intrusion located 6 kilometres west of the Gossan Zone. The drilling program comprised 11 drill holes for 3,015 metres and was conducted between April 19 and May 05, 2024, using existing access.

Assay results are pending. Highlights (in core lengths): From the Phase III 10-hole drill program for 2,064m at the Gossan Zone: LB-24-22: 76m of pyroxenite including 143m to 157m of disseminated mineralisation (7% to 15% visible pyrrhotite (Po) + minor chalcopyrite & pentlandite. LB-24-23: 114m of pyroxenite including 120m to 234m of diss + several semi-massive lenses ("SSM"), LB-24-24: 86m of pyroxenite including 122m to 219m of diss + several sections and stringers of SSM - massive sulphide, LB-24-25: 192m of pyroxenite including 120m to 141m of diss + SSM-SM, LB-24-26: 70m of pyroxenite including 132m to 172m of diss + few sections SSM, LB-24-27: 41m of pyroxenite including 135m to 150m of diss + stringers of SSM-SM, LB-24-28: 55m of pyroxenite including 127m to 147m of diss + 4m SSM-SM.

New "Target 900" site: Hole LB-24-29 (951m) targeted the center of a 3.5 km x 1.7 km strong gravity anomaly. The hole intersected 735m of continuous undeformed Ultramafic Magmatic ("UM") Intrusive pyroxenite with Po, minor CPy and Pn in the last 70m of the hole. For technical reasons, the hole terminated in pyroxenite at a vertical depth of 750m from surface and 250m east of the Target 900 center.

Prior to the recent drill program, the Company had drilled 18 holes for 5,188m at the Gossan Zone. The recent findings further bolster its confidence in the potential expansion and development of the entire Lac Brulé project. The last hole of the campaign, LB-24-29, was strategically positioned to test an exceptionally strong gravity anomaly, Xcalibur Multiphysics April 2024, 977 km-line airborne gravimetry survey at the Lac Brulé & Lac Brennan projects).

The anomaly was presumed to represent a significant UM intrusion located in the hinge of a major fold. The drilling revealed a very large intrusive pyroxenitic package, with mineralisation detected at the bottom of the hole. This discovery is particularly exciting as it suggests a near-miss scenario, where the primary mineralised zone lies at up to 250m west of the current drill path.

A downhole geophysics survey would be valuable in further refining targeting. Key Findings: UM Intrusive Complex: The existence of an UM intrusive complex provides valuable new insights into the geological history of this never-explored region and implies untapped potential for additional mineralised bodies. Tectonic Significance: Pyroxenite intrusive units are injected into highly deformed and highly metamorphosed gneiss, intercalated with garnet-rich amphibolite's of the Grenville geological province.

Characteristics of the newly discovered UM intrusion suggest it intruded the gneissic assemblage during the last tectonic event related to the Grenville metamorphic event. Base Metal Sulphide Mineralisation: Analysis of the 2023 drilling samples indicates the presence of significant Ni and Cu mineralisation associated with pyrrhotite, chalcopyrite and pentlandite. This discovery strongly suggests potential for additional mineralised units of large UM intrusive complexes.

Geophysical Surveys of Gossan and North Zones: In December 2021, SRQ commissioned MPH to conduct a HELITEM II electromagnetic ("EM") survey to follow up on the May 2021 gossan discovery. Only the Gossan Zone has been drilled while the larger North Zone is still untested. The SW-NE longitudinal vertical cross section shows a low-dipping, thick layer of peridotite-pyroxenite magmatic intrusive sequence intruding the Grenville aged paragneiss and garnet-rich amphibolite assemblage.

At the Gossan Zone, the UM intrusive sequence can be traced over 800m along the cross section. In October 2023 and in April 2024, SRQ followed up with airborne gravimetry surveys. These outlined multiple high-intensity gravity target zones including the very large Target 900 at the Lac Brulé project (Figures 1 & 4) and confirmed the North Zone as a prime target area.