QGold Resources Announces Maiden Preliminary Economic Assessment for the Quartz Mountain Gold Project, Positioning the Company as a Premier Gold Development Asset in the United States

After-Tax NPV(5%) of US$1.71 Billion and After-Tax IRR of 55.2% at a 2-Year Trailing Average Gold Price of US$3,265/oz

After-Tax NPV(5%) of US$3.02 Billion and After-Tax IRR of 90% at a spot Gold Prices (2)

Low-Cost Gold Mine with AISC of US$1,216/oz(3) and Life of Mine Gold Production of 1.9M ounces and average mine production profile 135k Gold ounces annually over life of mine of 14 years

Initial Capex of US$290 Million (Includes All taxes and US$48M in Contingency)

Updated NI-43-101 Mineral Resource Estimate of 2.01 million oz Gold in the Indicated Category and 494K oz of Gold in the Inferred Category

Toronto, Ontario – April 8th, 2026 – QGold Resources Ltd. (TSX-V: QGR; OTCQB: QGLDF; Frankfurt: QX9G) (" QGold" “ QGold Resources” or the "Company") is pleased to announce the results of its Preliminary Economic Assessment ("PEA") for its Quartz Mountain Gold Project ("Quartz Mountain" or the "Project"), located in Lake County, Oregon, USA. The PEA was prepared by Kappes, Cassiday & Associates ("KCA") of Reno, Nevada, a leading engineering firm with extensive gold project expertise.

HIGHLIGHTS:

-          Strong Economics at a Conservative Gold Price: After-Tax NPV(5%) of US$1.71 billion and After-Tax IRR of 55.2% based on a 24-month trailing average gold price of US$3,265/oz — materially below current spot gold of approximately US$4,800/oz(1), highlighting significant additional upside in the current gold price environment.

-          Attractive Low-Cost Profile: Cash operating costs of US$1,010/oz and All-In Sustaining Costs ("AISC") of US$1,214/oz(3) position Quartz Mountain competitively among North American gold projects.

-          Long-Life, Strong Production Mine: 14-year mine life with average annual gold production of 135,400 oz, peak annual production of 166,300 oz, LOM gold recovery of 79.6%, and a low strip ratio of 0.65:1

-          Capital Efficiency: Initial capital of US$290 million (including equipment taxes and working capital) delivering a rapid after-tax payback of 1.80 years.

-          Strong Jurisdictional Foundation: Quartz Mountain is situated in Lake County, Oregon, within the United States — a stable, supportive multi land use jurisdiction. Constructive relationships with the U.S. Forest Service, Oregon state government, and Lake County stakeholders provide the important social license and permitting momentum.

-          Clear path to Advanced Development: The PEA confirms the technical and economic viability of the Project and provides the foundation for the Company to advance toward a Feasibility Study. Planned 2026 drilling and exploration programs will focus on metalogical test work, resource expansion and infill to upgrade resource.

(1) Spot gold price of approximately US$4,800/oz as of the date of this release.

MANAGEMENT COMMENTARY

"The completion of the Quartz Mountain PEA represents an important milestone as the Project advances toward a future construction decision. The results confirm what our team has believed since acquiring this project from Alamos Gold in 2025 — Quartz Mountain is a world-class gold asset with the economics to support a robust and long-lived mining operation.

With an after-tax NPV of US$1.71 billion, a sub-two-year payback, and an all-in sustaining cost of US$1,214 per ounce — all at a base case gold price representing less than 70% of today's spot price — the Quartz Mountain Gold Project delivers an exceptionally powerful economic result. These metrics highlight the Project’s strong margins, compelling capital efficiency, and resilience across commodity price cycles.

We are especially encouraged by the Project’s low strip ratio and staged development approach, which together underpin a capital-efficient pathway to production and strong early cash flow generation.

We now have a clear roadmap: advance permitting, execute our 2026 drilling programs, and move this project toward a Feasibility Study with the same disciplined focus that has defined our team's track record of successfully developing mining projects. I want to thank the QGold team, Kappes, Cassiday & Associates, and the other consulting groups involved for their rigorous and thorough work. Additionally, we would like to thank our community partners in Lake County, Oregon for their continued support. Quartz Mountain offers the foundation for a generational mining operation in the State of Oregon."

Peter Tagliamonte, P.Eng.

Chairman & CEO, QGold

PEA SUMMARY TABLE

1.      Spot price of US$4,800/oz reflects the approximate LBMA gold price as of the date of this release. Gold price sensitivity columns other than the base case will be finalized with complete KCA outputs prior to final issuance of the PEA.
2.      AISC (All-In Sustaining Cost) of US$1,214/oz includes total cash costs plus sustaining capital and closure costs. Both cash cost and AISC are non-GAAP measures. See Non-GAAP Measures section.

Link to the original news release in full length: https://qgoldresources.com/news/176

ABOUT QGOLD RESOURCES LTD.

QGold Resources Ltd. (TSX-V: QGR; OTCQB: QGLDF; Frankfurt: QX9G) is a Canadian gold development company focused on advancing the Quartz Mountain Gold Project in Lake County, Oregon, USA — a high-quality, open-pit heap-leach gold asset with a NI 43-101 resource of approximately 2.01 million oz Gold in the Indicated Category and 494K oz of Gold in the Inferred Category.

 QGold is led by Chairman & CEO Peter Wilson Tagliamonte, P.Eng., a seasoned mining executive with a track record of advancing gold development projects to production, including the Shahuindo Gold Project in Peru (now a producing mine operated by Pan American Silver). QGold also holds the Mine Centre Gold Project in Northwestern Ontario. The Company is committed to responsible resource development, meaningful stakeholder engagement, and the creation of long-term value for its shareholders.

QUALIFIED PERSONS

The Preliminary Economic Assessment (PEA) was prepared by Kappes, Cassiday & Associates ("KCA") of Reno, Nevada. The PEA was prepared by independent Qualified Persons (each a “QP”) in accordance with NI 43-101. The PEA will be filed under the Company's SEDAR+ profile and on the Company's website within 45 days of the date of this news release.

The Qualified Persons responsible for the Study include personnel from KCA covering, processing, capital and operating cost estimation, financial analysis, AGP Mining Consultants Inc covering mine engineering and SLR International Corporation covering environmental considerations. Full details of QP areas of responsibility will be provided in the Technical Report.

The scientific and technical information in this press release respecting the MRE has been reviewed and approved by Fred Brown, P.Geo., an independent consultant to the Company that is a Qualified Person within the meaning of NI 43-101.

FORWARD-LOOKING INFORMATION

Certain of the statements made and information provided by QGold in this press release constitute forward-looking statements or information within the meaning of applicable Canadian securities laws. Forward-looking statements can often be identified by words such as "anticipates", "believes", "expects", "plans", "intends", "estimates", "projects", or similar expressions. Forward-looking statements in this press release include, but are not limited to: the results of the PEA including anticipated production, mine development phases, operations and processing, mine life, operating costs, capital costs, cash flows, and economic metrics; the Company’s plans for the Quartz Mountain Gold Project, including the 2026 exploration program, the upgrade of the inferred mineral resource portion of the MRE to the measured and indicated category, the preparation of a Feasibility Study, metallurgical test work, permitting timelines; and the Company's general strategy and priorities.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially. These include: changes in gold and silver prices and market demand; inaccurate resource or cost estimates; inability to obtain required financing or permits; changes in applicable laws or regulations; community, geotechnical, metallurgical or processing uncertainties; accidents, labour disputes and shortages; general business, economic, competitive, political, social, and market conditions; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable law, QGold does not undertake to update any forward-looking statement.

NON-GAAP MEASURES

This press release refers to certain non-GAAP financial measures including Total Cash Costs and All-In Sustaining Costs (AISC). These measures are common in the gold mining industry but do not have standardized definitions under GAAP and may not be comparable to similar measures used by other issuers. These measures are used by the Company to provide additional information regarding projected cost performance and should not be considered in isolation or as a substitute for measures prepared in accordance with GAAP.

Total Cash Costs include mining, processing, G&A, refining, transport, and royalty costs. AISC (All-In Sustaining Cost) is comprised of total cash costs plus sustaining capital expenditures and closure costs, divided by payable gold ounces.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information, please contact:

Peter Wilson Tagliamonte, P.Eng.

Chairman & Chief Executive Officer

Cell: +1 (416) 564-2880

QGold Resources

info@ QGoldresources.com | www. QGoldresources.com