QUÉBEC SILICA RESOURCES CORP ACQUIRES PROPERTIES FOR HYDROGEN AND HELIUM PROSPECTION
Lachute, Quebec, Canada, November 10, 2022 — Quebec Silica Resources Corporation (CSE: QTZ) ("QTZ”) is pleased to announce it has acquired its first three mineral claim properties in the Canadian province of Québec, which are prospective for hydrogen and helium.
Collaboration with the Institut national de la recherche scientifique (“INRS”) on the Company’s flagship silica project over the last year has led to another collaborative opportunity between QTZ and Dr. Marc Richer-Lafleche, P.Geo. QTZ plans to fund a geoscientific study to evaluate the potential of natural geologically occurring hydrogen and helium in Québec, starting with the Company’s first three properties.
“It is exciting because, as far as we know, we are one the first companies to explore for naturally occurring hydrogen in Québec.” stated Raymond Wladichuk, P.Geo., CEO of QTZ.
About naturally occurring hydrogen and helium
Naturally occurring hydrogen and helium form from chemical and nuclear reactions deep underground. It is an attractive, sustainable energy option because, in addition to being a clean fuel, hydrogen may occur as a modern-day replenishing resource, unlike a hydrocarbon reservoir (natural gas, oil, etc.) which depletes.
Helium is a noble gas with distinctive chemical and physical properties for different scientific, industrial and bio-medical applications. It is an essential element of medical scanners (magnetic resonance imaging, MRI), which is used to cool powerful magnets. Liquid helium is also used to cool certain metals to the extremely low temperatures required for electrical superconductivity. Furthermore, Helium is used as a protective atmosphere during the growth of monocrystalline silicon intended to manufacture integrated circuits and optical fibres.
The government of Québec has recently announced the Québec Green Hydrogen and Bioenergy Strategy, which has the purpose of creating a favourable environment to accelerate the production, distribution, and use of hydrogen. More information can be found through this link: Québec Green Hydrogen Strategy
Terms of the property acquisition
Pursuant to the property acquisition agreement dated November 7, 2022, and subject to the satisfaction of all closing conditions and the receipt of applicable regulatory approvals including that of the Canadian Securities Exchange (“CSE”), QTZ has agreed to acquire the properties from an arm’s length vendor in consideration for the issuance of an aggregate of 5,000,000 common shares of the Company, at an issue price of $0.07 per share, and a 1% royalty on gross revenues from the sale of pure hydrogen arising from the lands underlying the properties. The properties consist of a total of 248 mineral claims totalling 14,257 hectares. The securities issued pursuant to the Agreement will be subject to a four month hold period in accordance with applicable securities laws and the policies of the CSE.
About the INRS and Dr. Marc Richer-Lafleche, P.Geo.
Dr. Richer-LaFlèche's team has solid geological and geophysical experience in the regions of the newly acquired claims, where they have carried out more than six years of geophysical and geochemical work and collected thousands of C1-C4 Soil-Gas analyses. In addition, the INRS team has several portable gas spectrometers and the sampling equipment and logistics necessary for taking gas samples and geophysical measurements on the ground or in the aquatic environment.
About Québec Silica Resources Corp.
Québec Silica Resources Corp. is a mineral exploration and development company focused on exploring, developing, and acquiring industrial mineral resources in Québec, Canada. The Company is currently focused on its wholly-owned Charlevoix Silica Project near St. Urbane, Québec, Canada, and has a portfolio of multiple silica properties in Québec.
Additional information on Quebec Silica is available at www.quebecsilica.com.
On behalf of the Board of Directors,
Québec Silica Resources Corp.
“Raymond Wladichuk, P.Geo.”
Chief Executive Officer
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Raymond Wladichuk, P.Geo., (OGQ permit number: 02287), is the CEO of Québec Silica Resources Corp., and a Qualified Person for National Instrument 43-101 – Standards for Disclosure of Mineral Projects has reviewed and approved the scientific and technical information contained in the news release.
This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Quebec Silica's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Although Quebec Silica believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Quebec Silica to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.