VANCOUVER, British Columbia, Jan. 03, 2018 (GLOBE NEWSWIRE) -- QMC Quantum Minerals Corp.,
(TSX.v:QMC) (FRANKFURT:3LQ) (OTC PINK:QMCQF) (“QMC” or "the Company) has been assigned the legal entity identifier
(LEI) number of 549300PWASQ1G89XOR50. The European Union has adopted regulations that require use of the LEI as a barcode
equivalent aimed at pinpointing systemic risks.
The granting of the LEI to QMC is key as this is now a standard operating control that is needed for foreign
companies that are listed in Europe to continue trading.
About the legal entity identifier (LEI)
The legal entity identifier (LEI) number is a 20-digit alphanumeric code. It is an internationally standardized
and globally valid identifier for financial market participants. Its purpose is to clearly and unequivocally identify contracting
parties (for example, companies, banks and investment funds). It is used to comply with a variety of financial reporting
requirements. The Deutsche Borse Group has stated that "the LEI will clearly assist the regulatory authorities in monitoring and
analyzing threats to the stability of the financial markets, (but) it can also be utilised by counterparties internally for risk
management purposes."
About QMC’s Irgon Lithium Mine property
Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and
subsequently reported a historical resource estimate of 1.2 million tons grading 1.51% Li20 over a
strike length of 365 meters and to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical
resource is documented in a 1956 Assessment Report by B. B. Bannatyne for the Lithium Corporation of Canada Ltd. (Manitoba
Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions and neither the company
nor the QP have any reason to contest the document’s relevance and reliability. The ongoing detailed channel sampling and a
subsequent drill program will be required to update this historical resource to current NI 43-101 standards. Historic metallurgical
tests reported an 87% recovery from which a concentrate averaging 5.9% Li2O was obtained. During this historical 1950
era work program, a complete mining plant was installed on site designed to process 500 tons of ore per day and in addition, a
three-compartment shaft was sunk to a depth of 74 meters. On the 61 metre level, lateral development was extended off the shaft for
a total of 366 meters of drifting from which six crosscuts transected the dike. The work was suspended in 1957, awaiting a more
favourable market for lithium oxides and at this time the mine buildings were removed.
The mineral reserve cited above is presented as a historical estimate and uses historical
terminology which does not conform to current NI43-101 standards. A qualified person has not done sufficient work to classify the
historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on
reasonable assumptions, they were calculated prior to the implementation of National Instrument 43-101. These historical estimates
do not meet current standards as defined under sections 1.2 and 1.3 of NI 43-101; consequently, the issuer is not treating the
historical estimate as current mineral resources or mineral reserves.
Qualified Person and NI 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Bruce E. Goad, P. Geo. who is a qualified person as
defined by National Instrument 43-101.
About the Company
QMC is a British Columbia based company engaged in the business of acquisition, exploration and development of
resource properties. Its objective is to locate and develop economic precious, base metal and resource properties of merit. The
Company’s properties include the Irgon Lithium Mine project, two VMS properties, the Rocky Lake and Rocky-Namew known collectively
as the Namew Lake District Project. Currently, all of the company’s properties are located in Manitoba.
On behalf of the Board of Directors of
QMC QUANTUM MINERALS CORP.
“Balraj Mann”
Balraj Mann
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Tel: (604) 601-2018
email: info@qmcminerals.com
web: www.qmcminerals.com