Quartz Mountain Resources : ANNOUNCES GRANT OF STOCK OPTIONS - Form 6-K

QUARTZ MOUNTAIN ANNOUNCES GRANT OF STOCK OPTIONS

January 12, 2022, Vancouver, BC - Quartz Mountain Resources Ltd. ("Quartz Mountain" or the "Company") (TSX-V: QZM, OTCBB: QZMRF), announces that the Company's Board of Directors has approved the grant of stock options (the "Options") exercisable for a total of 1,955,700 common shares ("Common Shares") to a director. All Options were granted pursuant to the Company's stock option plan and are subject to the requirements of the TSX Venture Exchange. The Options were granted at an exercise price of $0.20, being the last closing price of the Corporation's common shares before the effective date of this stock option grant. The Options vest fully on the grant date, and expire on January 11, 2032.

For further details, contact Investor Services at [phone] or within North America at

1-800-667-2114.

On behalf of the Board of Directors.

Leonie Tomlinson

Director

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.

This release includescertain statementsthat may be deemed "forward-looking-statements". Allstatementsin this release, other thanstatementsof historical facts are forward-looking-statements. Thesestatementsincludeexpectationsabout the likelihoodof completingthe private placementand shareconsolidationandtheabilityof the Company tosecureregulatoryacceptancefor the private placementand share consolidation.Though the Company believes theexpectationsexpressed in its forward-looking-statementsarebased on reasonableassumptions, such statements are subjectto futureeventsand third party discretionsuchas regulatory personnel. For more information on the Company,andthe risks and uncertaintiesconnected withits business, investorsshouldreview the Company's home jurisdiction filingsaswww.sedar.comand its filingswiththe United States Securities and Exchange Commission.