Quartz Mountain Resources Ltd. announced that core drilling has commenced at its Jake Porphyry Copper-Gold-Silver Project (" Jake"), located 160 km north of Smithers, BC. The Jake drill program aims to discover a new, significant scale porphyry deposit. Porphyry deposits are the world's most important sources of copper, gold and silver and their discovery presents the potential for outsized gains, especially with surging metal prices.

The Jake project is one of two key projects being developed by Quartz in British Columbia. The Jake drill program follows initial drilling at the Company's Maestro Project which discovered an exciting high-grade, gold-silver lode hosted within extensive precious metal mineralization. The drill program at Jake will focus on completing five initial drill holes and is strategically designed to target a high demand, high value discovery that is attractive to potential transaction partners.

Initial plans are to drill 5 holes at Jake, each with a length of 500 meters (total 2,500 meters) from up to 3 drill pads. The three drill pads, labelled A, B and C, are located near a historical core hole drilled in 1973. Drill hole 73-3, was a vertical, 121 m deep diamond drill hole which was logged and re-sampled in 1986 and again in 1997 by Teck Corp.

Analytical results of the core re-sampling and logging by Teck indicated that this hole hosted pervasive potassic alteration and Cu-Au-Ag porphyry stockwork-type mineralization documented in Assessment Reports numbered 16,838 and 25,530. Teck's reported results from analyses of a 4.8 m half core sample near the bottom of the hole were: 0.37% copper, 0.16 g/t gold, 8 g/t ppm silver and 0.004% molybdenum.