MONTREAL, QC / ACCESSWIRE / February 13, 2024 / SRQ Resources Inc. (TSX-V:SRQ) ("SRQ" or the "Company") is pleased to announce it has further characterised the nickel and copper mineralisation of Lac Brulé's recently discovered Ultramafic Magmatic ("UM") intrusive complex using petrological and mineralogical studies of samples.

Dr. Marc-Antoine Audet, SRQ's President & CEO, will present the findings and the 2024 projected exploration program during a live virtual non-deal roadshow hosted by Renmark Financial on Wednesday, February 14, 2024, at 12:00 P.M. EST. Investors and interested parties are invited to register here using the latest version of Google Chrome. Access to a replay of the event will be available on the SRQ website or on Renmark Financial's website at .

Highlights of Mineralisation Characteristics at Lac Brulé's UM Complex:

• UM complex is composed of meta-pyroxenite and meta-peridotite, both of which intrude the highly metamorphic host rock sequence:
  • The meta-pyroxenite includes locally porphyritic assemblages of diopside, magnesio-hornblende and olivine (Fo80-84) with a lesser proportion of enstatite, intercalated with mineralized horizons containing up to 30% sulphides
    • Sulphides present are mainly pyrrhotite (iron + minor nickel ("Ni")), chalcopyrite (copper ("Cu")); cobalt-rich pentlandite (Ni and cobalt ("Co"))
  • Lower than expected nickel was observed in the olivines in the meta-peridotite, suggesting their transfer to the sulphide's liquids during immiscibility

Petrological and Mineralogical Studies Identify Presence of Mineralised Pyroxenite at Lac Brulé

SRQ's discoveries are being made on its 100%-owned Lac Brulé property located 50 kilometres ("km") north-west of the former Renzy nickel-copper mine in the Upper Laurentian region of Quebec and a five-hour drive from Montreal. The former Renzy mine operated from 1969 to 1972. UM intrusive bodies host mineralisation at both the Renzy mine and at Lac Brulé. Both sites present several striking similarities including mineralogy, petrology and timing of emplacement.

A total of 50 samples were carefully collected during the 2023 Phase 1 & 2 drilling programs at the Lac Brulé UM complex (Figures 1 & 2) for detailed petrological and mineralogical studies using an optical microscope and a scanning electronic microscope ("SEM"). These studies were carried out at the ISTerre of the University of Grenoble Alpes by Professor Christian Picard, university professor (retired) of earth sciences (with special authorisation from Ordre des Géologues du Québec (OGQ)).

The discovered UM complex is composed of meta-pyroxenite and meta-peridotite, both intruding the highly metamorphic host rock sequence. The meta-pyroxenite includes locally porphyritic assemblages of diopside, magnesio-hornblende and olivine (Fo80-84) with a lesser proportion of enstatite, intercalated with specific mineralized horizons containing up to 30% sulphides mostly as net texture within the silicate gangue.

Within the intrusive meta-peridotite, low nickel contents were measured in the olivine crystals (800 to 1,600 parts per million ("ppm")) versus an expected nickel range in olivine of 3,000 to 4,000 ppm. This could reflect a strong transfer of nickel from the olivines to the sulphide liquids produced during immiscibility mechanisms.

Distribution and Composition of Sulphides

Sulphides present in the pyroxenite sequences (Table 1) are pyrrhotite (Ni: 0.17 to 0.66 wt%). chalcopyrite (Cu: 34.56 to 36.27%) and cobalt-rich pentlandite (Ni: 34.56 to 36.73 wt%; Co: 4.15 to 7.33 wt%) present as isolated phases and /or as exsolutions in pyrrhotite (Figures 3 & 4). A few rare pyrite crystals are present.

Hole LB-23-12 returned the sulphide assemblages below (pyrrhotite ("Po"), chalcopyrite ("Cp") and pentlandite ("Pn"))

• 106.15 to 107.8 m (Ni: 0.63 to 0.79%; Cu: 0.36%) 30 to 37% sulphides including 27 to 33% Po / 1% Cp / 2 to 2.5% Pn
• 110.65 to 111.5 m (Ni: 0.6%; Cu: 0.47%) 30% sulphides including 27% Po / 1% Cp / 2% Pn
• 112 to 113 m (Ni: 0.54%; Cu: 0.37%) 26% sulphides including 23% Po / 1% Cp / 1.7% Pn
• 114.8 to 115.1 m (Ni: 0.53%; Cu: 0.36%) 27% sulphides including 24% Po / 1% Cp / 1.7% Pn
• 119 to 120.95 m (Ni: 0.52 %; Cu: 0.27 to 0.59%) 25 to 28% sulphides including 24% Po / 1% Cp / 1.7% Pn
• 122.45 to 124.7 m (Ni: 0.51 to 0.53%; Cu: 0.19 to 0.49%) 26 to 27% sulphides including 23-24% Po / 0.8 to 1.7% Cp / 1.7% Pn
• 128.15 to130.85 m (Ni: 0.49 to 0.66%; Cu: 0.35 to 0.44%) 25 to 32% sulphides including 23-24% Po / 1 to 1.4% Cp / 1.7% Pn
• 133.3 to -134.8 m (Ni: 0.53 to 0.58%; Cu: 0.37 to 0.64%) 26 to 30% sulphides including 22-28% Po / 1 to 1.3% Cp / 1.6 to 2.1% Pn

Microcrystals of silver tellurium (hessite - Ag₂Te), as well as silver and palladium tellurium, were observed in hole LB-23-10 at 207.3m.

Figure 5 shows massive sulphide composed of chalcopyrite, pentlandite and pyrrhotite as late remobilisation of massive sulphides filling fractures.

Table 1: Chemical composition for sulphide species

Figure 1: Compilation map of 2021 EM conductive zones and 2023 drillholes. The large North Zone EM target has not been drill tested.

Figure 2: SW-NE longitudinal cross-section showing the UM intrusive and the Ni-Cu mineralised horizon.

Figure 3: LB-23-12 - 107.3 m: Pyroxenite:

Hb: magnesio-hornblende; Ol: olivine, Cpx: pyroxene (diopside), Po: pyrrhotite, Pn: cobalt-rich pentlandite, Cp: chalcopyrite, Mt: magnetite, Il: ilmenomagnetite

Figure 4 : LB-23-12 - 123.60 m: Wehrlite with magnesio-hornblende and phlogopite.

Amp: magnesio-hornblende ; Ol: olivine, Cpx: pyroxene (diopside), Po: pyrrhotite, Pn: cobalt-rich pentlandite, Cp: chalcopyrite, Py: Pyrite, Mt: magnetite, Il: ilmenomagnetite

Figure 5: LB-23-18 - Vein of sulphide-rich material, mostly massive chalcopyrite, pyrrhotite and pentlandite, intersecting the early-stage phmineralisation and returning up to 6.49% Cu.

Quality Control

Core logging and sampling are performed at SRQ's field facilities by SRQ's staff. Sample preparation and whole rock analysis are carried out by Activation Laboratories Ltd (Actlab), Ancaster and Thunder Bay, Ontario, Canada. All samples were assayed for Ni, Cu, Co, Fe, S, Pt, Pd and Au using sodium peroxide fusion ICP for the first five elements and by Fire Assay ICPOES for the last three.

The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph. D geology, P. Geo and President and CEO of SRQ Resources, and a 'Qualified Person,' as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About SRQ Resources Inc.

SRQ is a Canadian base metals company exploring for nickel, copper and platinum in the province of Québec. A near-surface Ni-Cu project, Lac Brulé is located on a 288 km2 virgin exploration property at a five-hour drive from Montréal. The project's prospectivity for base metals has been confirmed by geological mapping, the presence of a surface gossan and geophysical surveys. The presence of the historic Renzy Ni-Cu mine located 50 kilometers to the south-east and at the heart of the large regional pattern further adds to the area's mineral exploration appeal. For more information about SRQ. please visit SRQ's website at .

About Renmark Financial Communications Inc.

Founded in 1999, Renmark is a privately held full-service investor relations firm. located in Atlanta. New York. Toronto and Montreal. For the past 25 years. Renmark has provided services in investor relations. media relations and web development representing small, medium and large cap public companies listed on all major North American exchanges. On a daily basis, Renmark team of professionals enhance client's visibility within the retail market space as corporate communicators. With the largest roadshow footprint in North America. and a state-of-the-art media studio, Renmark hosts a multitude of live streaming Virtual Non-Deal Roadshows across North America and Europe.

Contact Information:

Marc-Antoine Audet, President and CEO
ceo@srqexploration.com
Tel: (514) 726-4158

Renmark Financial Communications Inc.

Bettina Filippone
bfilippone@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989

Forward-Looking Statements and Forward-Looking Information:

Certain of the statements made and information contained herein are "forward-looking statements" or "forward-looking information" within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information characterized by terms such as "will", could", "expect", "estimate", "evidence", "potential", "appears", "seems", "suggest", are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and forward-looking information, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: the speculative nature of mineral exploration and development; assumptions relating to the trading price of the Company's common shares; the ability of the Company to convert resources in reserves, its ability to see through the next phase of development on any project, its ability to produce a pre-feasibility study or a feasibility study regarding any project, its ability to execute on its development plans in terms of metallurgy or exploration, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties. Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements and forward-looking information made by or expressed on behalf of the Company. Readers are cautioned that forward-looking statements are not guarantees of future performance. The Company disclaims any intention or obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: SRQ Resources