QMX Gold Corporation reported an interim update of its National Instrument 43-101: Standards of Disclosure for Mineral Projects (“NI 43-101”) resource estimate (the “2020 MRE”) on its Bonnefond South property, located approximately 25 km to the east of Val d'Or, Quebec (Figure 1). The 2020 MRE was completed independently by BBA Inc. in accordance with the NI 43-101 guidelines. A summary of the resource by zone is presented in Table 1. Since the last drill hole used for the 2020 MRE was finished, QMX has completed nearly 14,000 m of drilling on the Bonnefond property and is planning more exploration drilling during the winter. The Bonnefond deposit comprises an intrusive body and series of shear zones transecting the intrusive. The intrusive body has an elliptical shape on plan view, measuring approximately 250m by 95m and dipping at 70° to the north-east. The northern part of the intrusion is tonalitic body of 250m by 60m while the southern part of the intrusive is more dioritic in its mineral composition. The gold values are associated with free visible gold and disseminated pyrite mineralization; tension and shear quartz-tourmaline veins and stockwork. From a structural point of view, the Bonnefond deposit is characterized by an east-west shear system transitioning from less competent ductile volcanic facies to more competent facies within the intrusive. A series of mineralized shear zones dipping at 45° to the north transects the intrusive body being shallow on the southern side and deeper on the northern side of the intrusive. They extend through the dioritic part of the Bonnefond intrusive and display shallower dips inside the intrusive. As the tonalitic part of the intrusion is more competent, it suggests that it cracked under the pressure during the active structural phases, creating large flat enriched areas with abundant quartz tourmaline veins and veinlets and intense alteration. QMX Gold started drilling on the Bonnefond intrusive in 2017 and realized its first major drilling program on the project in 2018. An initial openpit constrained resource was released in 2019 (Press release, July 30, 2019). In order to build the 2020 MRE, QMX conducted 27,000 m of drilling to the Bonnefond deposit. 7,700 m of drilling was dedicated to definition drilling to convert resources in the inferred category to the indicated category in the open-pit and 19,300 m to explore under the 2019 conceptual open pit. The successful drilling campaigns allowed the QMX team to substantially improve the geological and structural model of the deposit, particularly within the tonalite. The tighter drilling pattern allowed for a better definition of the mineralized envelope in the intrusive. Also, it was established that the shear zone extends through the tonalite, creating large shallow dipping mineralized envelopes within the intrusive (Fig 3). This better control of the mineralization inside the intrusive allowed the definition of continuous zones with higher grades. The extensive exploration drilling successfully demonstratedthe presence ofmineralization in several parts of the shear zones in the volcanic lithologiessouth of the intrusive, opening up a substantial target zone between 350 m and 1,000 m at depth. Drilling on the Bonnefond property is still ongoing with three drill rigs. A 10,000 m exploration program was recently completed in the northern part of the property and results are pending. An additional exploration program is focused on the deep exploration on the intrusive and the shear zones following up on the results of DDH 121 and DDH 105A to increase the underground resources of the project. Another 5,500 m exploration program is ongoing south of the Bonnefond deposit to test for western extensions of the New Louvre deposit. 2021 Winter Drilling Campaign – East Zone: Preparation and planning is underway for the 2021 winter drilling campaign. The campaign will focus largely on the East Zone, between the Bonnefond deposit and the past producing Bevcon Mine, on wet ground areas accessible only during the winter months. Weather dependent, QMX currently plans to utilize up to seven drill rigs for a total of 35,000 m over the winter months. A large portion of the winter program will be on and around the Bevcon intrusive in order to follow up on the successful results from the 2019 drilling campaign. Highlights from the Bevcon Target include: DDH 17311-18-015 returned 84.8 g/t Au over 6.0 m, including 137.5 g/t Au over 3.7 m and DDH 17311-18-017 returned 10.8 g/t Au over 4.3 m. This exploration program will also test a number of prospective exploration targets to the east of the Bonnefond intrusive.