Vancouver, British Columbia--(Newsfile Corp. - January 27, 2023) - Québec Innovative Materials Corp. (CSE:QIMC) ("Québec Innovative Materials" or the "Company") is pleased to announce that silica samples supplied to HPQ Silicon Inc. ("HPQ") have met the compatibility requirements for their partnership to progress as per the Memorandum of Understanding ("MOU") announced on September 14, 2022.

Under the terms of the MOU, QIMC will supply HPQ with silica materials that meet HPQ specifications and requirements for testing in HPQ's GEN3 PUREVAPTM Quartz Reduction Reactor ("QRR"). Both companies anticipate negotiating a definitive sourcing agreement once the material provided can produce a commercial-grade product. As announced on November 22, 2022, QIMC successfully launched Phase 1 of pilot plant testing at the Charlevoix Silica Project with the goal of producing high grade silica in line with HPQ's specifications. HPQ is currently testing and refining its process as they work toward planning and developing their first commercial scale plant. QIMC and HPQ continue to advance their respective projects in tandem as they work toward the sustainable development of a new green economy.

Raymond Wladichuk, CEO of QIMC, commented, "A future definitive agreement between QIMC and HPQ would be mutually beneficial for both companies' pursuit for a green economy. We would be able to dramatically reduce our carbon footprint as we benefit from a local Québec supply chain without compromising on quality."

About HPQ Silicon Resources

HPQ Silicon Inc. (TSXV:HPQ), is a Québec-based technology company green engineering processes of producing silica (SiO2) and silicon material (Si) developing a unique portfolio of high value-added silicon (Si) products sought after by battery and electric vehicle manufacturers, among other industries. On July 21, 2022, HPQ started trading as a Tier 1 Industrial Issuer on the TSX Venture Exchange.

Silicon (Si), also known as silicon metal, is one of today's key strategic materials needed for the decarbonization of the economy and the Renewable Energy Revolution ("RER"). However, silicon does not exist in its pure state and must be extracted from quartz (SiO2) in what has historically been a capital and energy-intensive process.

HPQ is the only company bringing to market a new process for manufacturing Silicon that is perfectly suited to the new demands and realities of today's Silicon market. With ESG principles playing an active role in materials sourcing and with recent geopolitical unrest emphasizing the need for stable trade partners and supply security, global corporations are becoming more aware of the difficulties in securing the ESG-compliant Silicon needed to meet their renewable energy agenda.

The reality of chronic underinvestment in new technologies combined with the offshoring of Silicon production capacity, is creating massive opportunities for HPQ and the processes it is developing with PyroGenesis Canada Inc. (TSX:PYR) (NASDAQ:PYR):

the PUREVAPTM "Quartz Reduction Reactors" (QRR), an innovative process (patent granted in the United States and pending in other jurisdictions), which will permit the one-step transformation of quartz (SiO2) into high purity silicon (Si) at reduced costs, energy input, and carbon footprint that will propagate its considerable renewable energy potential.
Through its 100% owned subsidiary, HPQ NANO Silicon Powders Inc., the PUREVAPTM Nano Silicon Reactor (NSiR) is a new proprietary process that can use material produced by the QRR as feedstock, to make a wide range of nano/micro spherical powders and nanowires of different sizes.
Through its second 100% owned subsidiary, HPQ Silica POLVERE Inc., HPQ is developing a new plasma-based process that allows a direct Quartz to Fumed silica transformation, removing the usage of hazardous chemicals in the making of Fumed silica and eliminating the Hydrogen Chloride Gas (HCI) associated with its manufacturing.

HPQ is also a technology development company interested in developing hydrogen-based ventures, that could be complementary to the QRR efforts. Currently, HPQ is working with Novacium developing processes for making hydrogen via hydrolysis of silicon and other materials.

For more information, please visit HPQ Silicon web site.

About Québec Innovative Materials Corp.

Québec Innovative Materials Corp. (CSE:QIMC) (previously Québec Silica Resources Corp.) is a mineral exploration, and development company with a diversified portfolio of natural resource assets including high grade silica, hydrogen, and helium properties. QIMC is working toward becoming a sustainable supplier of resources which are essential in advanced batteries and the electrification of the new green economy. The Company has a 100% interest in the Charlevoix Silica Project, near Clermont, Québec, Canada as well as its various other silica properties in Québec.

Additional information on Québec Innovative Materials is available at www.qimaterials.com.

On Behalf of the Board of Directors,

QUÉBEC INNOVATIVE MATERIALS CORP.

"Raymond Wladichuk, P.Geo."
Chief Executive Officer

For further information, please contact:
Investor Relations
Tel: +1 (833) 474-5422
Email: info@quebecsilica.com

Neither the Canadian Securities Exchange nor it's Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Québec Innovative Materials' actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Although Québec Innovative Materials believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Québec Innovative Materials Corp. to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152702

Quebec Innovative Materials Corp. Receives Positive Feedback on Silica Samples