SRQ Resources Inc. announced assay results from the October 2023 drill program at the newly discovered ultramafic magmatic intrusive complex hosting base metal mineralisation at its Lac Brulé project in Quebec. Highlights From the Phase II five-hole drill program for 1,246 metres ("m") on the Gossan Zone: Hole LB-23-15 intersected 160m of Ultramafic Magmatic ("UM") intrusions with 34.35m of combined mineralisation grading 1.16% Copper Equivalent ("CuEq") including 17.85m at 0.49% nickel ("Ni") and 0.36% copper ("Cu"). All holes returned UM intrusive sequences with intercalated sulfide mineralised layers.

At the Gossan Zone, the UM intrusive sequence can be traced over 800m along a southwest to northeast direction. High-grade Cu veins and stringers intersect mineralisation grading up to 6.49% Cu A 600-kilometer ("km") line gravimetric airborne survey identified additional targets and validated the North Zone. Phase II results are in addition to the July 2023 maiden drilling program of 13 holes for 3,950m (holes: LB-23-01 to -13) that led to the discovery of Lac Brulé's UM intrusive complex and its associated high-grade Ni-Cu mineralisation.

Hole LB-23-15 intersected 160m of UM intrusions with 34.35m of combined mineralisation grading 1.16% CuEq including 17.85m at 0.49% Ni and 0.36% Cu. A key feature is the presence of several millimetric to centimetric veins of sulfide-rich material, mostly massive chalcopyrite, pyrrhotite and pentlandite, that intersect the early-stage sulfide mineralisation at various angles (mostly between 45 and 90 degrees from the core axes) and return up to 6.49% Cu. Additionally, in October 2023, a 600km-line airborne gravimetry survey carried out by Xcalibur Multiphysics ("MPH") Canada Inc. over the area of interest at the Lac Brulé project revealed new targets in the vicinity of the current discovery.

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 Sulfide Mineralisation: Analysis of the 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.

The July and October 2023 drill hole locations in relation to conductivity targets are shown. 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, SRQ followed up with a 600 km-line airborne gravimetry survey that outlined several high gravity target zones confirming the North Zone as a prime target area.