Quebec Nickel Corp. Completes Acquisition of The Ecru Project, Nevada

15:00 Uhr  |  Newsfile

Vancouver, April 13, 2026 - Québec Nickel Corp. (CSE: QNI) (FSE: 7lB0) (OTCQB: QNICF) ("QNI" or the "Company") announces that it has closed its previously announced (see February 27, 2026 press release) acquisition of the 100% interest in the Ecru Property, located on the Cortez/Battle Mountain Trend in Nevada, from Orogen Royalties Inc. ("Orogen"). The closing is effective April 10, 2026.

The Ecru Property consists of 112 mining claims and is situated north of the Pipeline-Cortez-Goldrush-Robertson deposit cluster, one of Nevada's most prolific gold districts. In addition to the property acquisition, the Company and Orogen, through their respective subsidiaries: (i) completed the transfer of a sublease agreement relating to all rights in certain additional real property held by Nevada Gold Mines LLC; and (ii) executed a royalty agreement which contemplates the grant of a 2.0% net smelter returns royalty on the Ecru Property.

The acquisition of the Ecru Property represents QNI's entry into one of the world's premier gold mining districts, allowing the Company to leverage its technical and corporate expertise to create value by exploring and advancing this exciting project. The Company intends to advance the Ecru Property through systematic technical review and disciplined exploration planning, including the preparation of a NI 43-101 compliant technical report to support future evaluation and strategic decision-making.

Closing Transactions

At closing, the Company (i) completed the payment to Orogen of the closing cash consideration of $250,000 ($25,000 of which was previously paid to Orogen and credited against the closing payment), and (ii) issued to Orogen 1,000,000 common shares of the Company, at the issue price of $0.165 per share, representing the permitted discount to the closing price of the Company's common shares on February 26, 2026 (the date on which the parties entered into the definitive agreement). The 1,000,000 common shares are subject to a restriction on resale for a period of four months and one day expiring on August 11, 2026.

Pursuant to the definitive agreement, within six (6) months of closing, the Company must also complete the issuance to Orogen of $125,000 of common shares at an issue price per share equal to the 10-day volume weighted average price (VWAP) of the common shares of the Company on the CSE at the date of the issue.

Ecru Property Overview

The Ecru Property is located within the Cortez Gold Camp, one of Nevada's most prolific gold-producing regions, and lies directly northeast and adjacent to Nevada Gold Mines' Robertson Deposit. The property is positioned along major regional structural corridors, including the Cortez Fault system and the Battle Mountain-Eureka trend, both of which are associated with significant gold endowment in the district.

Figure 1: Location map of the Ecru project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8152/292162_bd3abcb604c5c9ef_003full.jpg

Previous exploration activities include geophysical surveys, geochemical datasets, and minor drilling, which identified multiple untested targets. These targets include a potential shallow intrusive-related target with similarities to the Robertson deposit, and possible lower plate carbonate host rocks at depth. Both styles of mineralization are recognized within the Cortez district. The Ecru Property is considered to have high potential to host Robertson-style intrusive-related gold mineralization and/or Carlin-type mineralization, subject to further evaluation.

Proposed Name Change to Aurbis Resources Corp.

Now that the Company has completed the Ecru Property acquisition, it intends to proceed with the proposed name change to "Aurbis Resources Corp." The Company will provide further updates once it receives final approval for the proposed name change.

About Orogen Royalties Inc.

Orogen Royalties is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. The Company's royalty portfolio includes the Ermitaño gold and silver Mine in Sonora, Mexico (2.0% NSR royalty) operated by First Majestic Silver Corp. The Company is well financed with several projects actively being developed by joint venture partners.

About Québec Nickel Corp.

Québec Nickel Corp. is a mineral exploration company focused on acquiring, exploring, and developing critical metals projects. Additional information about Québec Nickel Corp. is available at www.quebecnickel.com.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Qualified Person

Johan Lambrechts, QP, is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release. He has approved the disclosure herein. Mr. Lambrechts is not independent of the Company, as he is the CEO and a director of the Company.

CAUTIONARY AND FORWARD-LOOKING STATEMENTS

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this news release, other than statements of historical facts that address events or developments that the Company expects to occur, are 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 the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market, or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292162