Strategic Metals Ltd.

Under option to Benjamin Hill Mining Corp. (announced January 18, 2023). Benjamin Hill Mining can acquire a 60% interest in the project by: (i) making aggregate cash payments to Strategic of $500,000 by January 17, 2028; and (ii) incurring aggregate exploration expenditures of $11 million on the property by the end of 2027. Following the exercise of the option, Benjamin and Strategic will form a 60/40 joint venture to further explore and develop the property.

*Resources were estimated by Falconbridge Limited in the mid-1990’s before the implementation of NI43-101, and therefore considered historical in nature. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or reserves and the issuer is not treating the historical estimate as current mineral resources or reserves.

The Division Mountain thermal coal deposit lies within the Traditional Territories of Champagne and Aishihik, Little Salmon/Carmacks and Kwanlin Dün First Nations and the Ta’an Kwäch’än Council.

The Hopper property hosts copper-gold skarn and porphyry mineralization in southwestern Yukon Territory. This 74 sq km road accessible property is located 22 km north of the Otter Falls hydroelectric generator within the Traditional Territory of the Champagne & Aishihik First Nation.The property lies within the Yukon-Tanana Terrane. The oldest rocks in the area comprise Devonian to Mississippian quartz-biotite±muscovite schists, which are intercalated with lesser biotite-bearing quartzite and banded marble. This package is intruded by a Late Cretaceous (76.0±1.1 and 83.7±1.9 Ma) granodiorite pluton, which is informally called the Hopper Pluton. The age of the Hopper Pluton places it in the same metallogenic episode as the Patton Porphyry, which is the mineralizing pluton at Western Copper and Gold Corporation’s Casino porphyry copper-gold-silver-molybdenum deposit located 190 km to the north-northwest. The Casino deposit contains 8.9 million ounces and 4.5 billion pounds in proven and

For more information please see the updatedMeloy Project Technical Reportfiled on SEDAR September 18, 2018.

The wholly-owned Midas Touch project, located within the traditional territory of the First Nation of Na-Cho Nyak Dun, covers over 1,200 sq km of prospective stratigraphy for Carlin-style gold mineralization within the Rackla Gold Belt, where ATAC Resources Ltd. and Anthill Resources Ltd. have made several significant drill discoveries within an emerging Carlin-style gold district. The Midas Touch project largely adjoins the south side of ATAC’s Rackla Gold Property.

The Mint project is located in southwestern Yukon approximately 26 km southwest of the Alaska Highway within the traditional territory of the White River First Nation. The property hosts alkaline-type porphyry gold-copper-molybdenum mineralization that was discovered and staked in the early 1980s, but received only reconnaissance-scale exploration at that time. Geological, geochemical and geophysical surveys conducted by Strategic in 2010 returned encouraging results, including a helicopter-borne versatile time domain electromagnetic and magnetic survey that outlined a circular magnetic high approximately 2,200 m in diameter. This magnetic high is centred on a high level, Mid to Late Miocene dyke of intermediate composition, which cuts approximately coeval, basic to intermediate volcanic flows and related pyroclastic and sedimentary rocks. Areas of intense silicification are present within a broader zone of sericite-pyrite alteration developed in and around the dyke.A 1,100 by 500 m co

The Mount Hinton property lies within the world-famous Keno Hill silver mining camp, a district that hosts more than 35 individual mines and is historically Canada’s second largest primary silver producer. The property covers an 83 sq km area that is located 10 km by road from Keno City in central Yukon within the traditional territory of the Na-Cho Nyak Dun. A hydroelectric power grid extends to Hecla Mining’s Keno Hill mine and mill complex, which is located three kilometres north of the Mount Hinton claim block.

Strategic Metals Ltd.’s 100% owned Triple Crown property is one of the best, undrilled prospects in the Dawson Range Gold Belt of southwest Yukon, which includes the Coffee, Klaza, Casino and other deposits. Planned roads to improve access into the known deposits will also benefit the Triple Crown and other early-stage projects in the area.