Results Successfully Expand the Prodigy Gold-Silver Discovery at the Maestro Project and Samples from Property-Wide Historical Drill Core Return Significant Gold Values

VANCOUVER, BC / ACCESS Newswire / July 7, 2026 / Quartz Mountain Resources Ltd. (TSXV:QZM)(OTCQX:QZMRF) ("Quartz" or the "Company") is pleased to announce assay results from the Phase 4 core drilling program at its 100%-owned Maestro Project in central British Columbia. The results continue to expand the open-ended Prodigy gold-silver discovery and confirm four related mineralization styles (near-surface epithermal gold-silver-molybdenum mineralization, high grade epithermal gold-silver veins, an underlying porphyry gold system and porphyry molybdenum (±copper) deposits. The potential of the Maestro Project is further enhanced by age dating of Prodigy's gold-silver mineralization which compares to the age of the mineralizing event associated with BC's new Blackwater Gold-Silver Mine located near Vanderhoof to the south (see Quartz News Release dated November 03, 2025).^A

The Company's immediate priority is the continued delineation and expansion of the high-potential Prodigy near-surface epithermal gold-silver discovery. Building on the strong drill results and geological insights gained from Phases 1 through 4 drill programs, Phase 5 drilling is planned to mobilize in September 2026, as rigs become available. With a working capital position of $2.6 million and a British Columbia drill permit already in hand covering 37 additional drill sites, Quartz is well positioned to continue unlocking the important potential of the new Prodigy gold-silver discovery.

The Phase 4 program comprised eight drill holes (26-14 through 26-21) totaling 4,366 metres. Five scout holes tested targets up to 500 metres east of the Prodigy discovery, while three scout holes were drilled up to 300 metres west. Combined drilling completed at the Prodigy discovery during Phases 1 through 4 now totals 12,951 metres across 21 drill holes (see Figure 1, Figure 2 and Table 4).

Phase 4 drill program highlights include:

• Multiple new intercepts of near surface epithermal gold-silver mineralization including:

  • 306.6 m grading 0.23 g/t Au, 12 g/t Ag, 0.020% Mo and 0.03% Cu: 0.54 g/t AuEQ* (26-14)

  • 163.9 m grading 0.31 g/t Au, 18 g/t Ag, 0.024% Mo and 0.04% Cu: 0.72 g/t AuEQ (26-14)

  • 59.0 m grading 0.31 g/t Au, 5 g/t Ag, 0.014% Mo and 0.03% Cu: 0.50 g/t AuEQ (26-19)

  *For AuEQ and footnotes to Tables see notes below Table 3.

• Expansion of the northwest-trending Prodigy epithermal gold-silver system to a mineralized volume measuring approximately 600 metres long, 100 to 200 metres wide, and up to 500 metres deep (see Figures 1 and 2).

• Multiple new intercepts of higher grade gold-silver veins including:

  • 2.4 m grading 5.09 g/t Au, 46 g/t Ag, 0.029% Mo and 0.02% Cu: 5.86 g/t AuEQ (26-14)

  • 3.0 m grading 2.17 g/t Au, 246 g/t Ag, 0.003% Mo and 0.00% Cu: 5.20 g/t AuEQ (26-17)

  • 1.3 m grading 7.26 g/t Au, 145 g/t Ag, 0.054% Mo and 0.60% Cu: 10.21 g/t AuEQ (26-21)

• Multiple broad intervals of porphyry molybdenum (± copper) mineralization east of Prodigy, supporting the emergence of a second large molybdenum deposit on the Maestro Property:

  • 151.0 m grading 0.026 % Mo and 0.04% Cu (26-15)

  • 396.0 m grading 0.017 % Mo and 0.03% Cu (26-16)

  • 97.0 m grading 0.021 Mo and 0.03% Cu (26-17)

    Figure 1
    Plan Map of Prodigy Drill Hole Locations*

    

*See Quartz Mountain Resources website (https://www.quartzmountainresources.com/) and news releases dated April 9, 2024, June 24, 2025 and November 3, 2025, for drill hole assay results released.

Bob Dickinson, Chairman of Quartz, stated:
"Phase 4 drilling continued to reveal the promising precious metal potential of the Maestro Project. We have significantly expanded the Prodigy gold-silver system while continuing to identify additional epithermal and porphyry-style mineralization across the property. The geological relationships we are observing are highly encouraging and compare favourably with several important mineral districts in British Columbia. We believe Prodigy represents only part of an important mineralizing system, and we are keen to advance Phase 5 drilling to continue unlocking the exciting potential of the Maestro Project."

Figure 2
Cross Section X-Y Along Prodigy Northwest Trend
Looking North

Table 1
Phase 4 Epithermal Gold-Silver Intercepts

Table 2
Phase 4 Gold-Silver Vein Intercepts

While Phase 4 drilling was not specifically designed to target deeper porphyry gold mineralization, several holes intersected broad zones of porphyry molybdenum (± copper) mineralization east of the Prodigy discovery. These results combined with nearby historical drill hole results support the emergence of a potentially significant molybdenum system adjacent to Prodigy that may be comparable in scale to the Company's Lone Pine molybdenum deposit, located approximately one kilometre to the south. The Lone Pine deposit contains Measured and Indicated Resources of 110 MT grading 0.083% Mo at a 0.04% Mo cut-off as described in NI-43-101 Technical Report, effective January 21, 2011, by P&E Mining Consultants Inc. for Bard Ventures Ltd.^B

Table 3
Phase 4 Porphyry Molybdenum Intercepts