Quartz Mountain Resources Announces New Drilling Phase and Financing

Quartz Mountain Resources Ltd. is set to initiate Phase 5 core drilling at the Maestro Project in British Columbia. Scheduled for October 20, 2026, this phase seeks to expand the Prodigy discovery footprint. The drilling targets geophysical markers suggesting potential mineralization. Previous phases covered over 12,951 meters across 21 holes. Apex Diamond Drilling Ltd. and HEG and Associates Exploration Services Inc. will execute the program.

To fund this expansion, Quartz has announced a $1.37 million private placement offering. This includes 1,550,000 Units and 1,875,000 Flow-Through Units, both priced at $0.40 each. The Units consist of one common share and one warrant, exercisable at $0.50 each for 24 months. The offering is subject to TSX Venture Exchange approval.

Insiders, including the Dickinson Control Group and Sutton Group Inc., will participate significantly in the financing. Upon completion, updated early warning reports will be filed. All securities issued will have a four-month hold period in Canada.