SRQ Resources Inc. announced that the Phase 2 drilling program on its exciting new discovery, the Lac Brule Ultramafic Magmatic Intrusive Complex ("UM Intrusive"), is scheduled to start on or about October 23, 2023. The UM Intrusive hosts significant nickel and copper mineralisation. Key highlights of the Phase 2 program include: Follow-up Drilling: Phase 2 will involve drilling 5 holes for approximately 1,200 meters ("m") on the Gossan Zone.

These holes are designed to follow up on the strong conductors outlined by August 2023 Downhole electromagnetic Surveys ("DHEM"). Geological and Geochemical Studies: Detailed geological and geochemical studies will be carried out on the 51 samples collected from the Phase 1 drilling program to enhance understanding of the host and the mineralisation's characteristics and distribution. Environmental Considerations: SRQ is committed to continuing its drilling activities in an environmentally responsible manner, including adhering to all relevant environmental regulations and best practices.

The Ni-Cu mineralisation encountered is characterized by cumulate and aggregates of iron, copper and nickel sulfides: pyrrhotite, chalcopyrite and pentlandite, respectively. Pyrrhotite is the dominant sulfide with visible chalcopyrite.