Mr. Robert Rosner reports

CAT STRATEGIC HIGHLY ENCOURAGED BY INITIAL ASSAY RESULTS ON THE BURNTLAND PROJECT IN NEW BRUNSWICK

Further to its news release of April 4, 2022, CAT Strategic Metals Corp. has received and analyzed the results of the diamond drill program conducted on the company's Burntland copper/gold/silver project in northern New Brunswick.

CAT drilled seven holes totalling 1,416 metres in an area that had been subject to a geophysical survey conducted in late summer and early fall of 2021. These seven drill hole targets were identified following a trenching program and a 975-line-kilometre high-resolution drone magnetic survey and an additional geophysical VLF-EM (very low-frequency electromagnetic), DTM (digital terrain modelling) and mag survey that was completed in October.

The 2021/2022 diamond drill program began in mid-December and continued through January. All of the drill holes were located in an area that underwent significant trenching activity during the summer program and was designed to evaluate the copper mineralization intercepted in this particular area. The location of drill targets was selected as a result of an extensive review and interpretation of the historical prospecting database, and the previously identified magnetic anomaly believed to be in a skarn and hornfels zone, a favourable host rock for copper mineralization.

Assay results are set out herein and include samples from drill holes BL-21-001 to BL-22-007 which were collected on a one m to 1.5 m basis. The results are reported as an average grade over the width of the sample. Holes BL-22-005 and BL-22-006 identified that copper values at the surface were associated with the targeted high-magnetic anomaly. The mineralization was located in the skarnified Whitehead suite (silicified-limestone/siltstone unit) mostly associated with quartz-carbonate veins.

Other notable intercepts include the following:

• BL-22-005 intercepted a total width of 7.04 m grading 0.44 per cent Cu (copper), 14.64 grams per tonne Ag (Silver), 0.184 g/t Au (gold) or 0.64 per cent CuEq (copper equivalent).
• BL-22-006 intercepted 118.84 m grading 0.23 per cent Cu, 7.53 g/t Ag and 0.04 g/t Au or 0.33 per cent CuEq -- which includes an intercept of 58.62 m grading 0.44 per cent Cu, 12.98 g/t Ag, 0.06 g/t Au or 0.60 per cent CuEq. There was also an interesting intercept of 0.77 m grading 0.341 per cent Cu, 51.9 g/t Ag, 0.36 g/t Au, 0.543 per cent Pb (lead) and 2.12 per cent Zn (zinc).

Intercepts from the seven drill holes are presented herein with their respective CuEq value.

The mineralization association with quartz/carbonate veins guides the interceptions toward a more distal system. The depth of the notable intercepts suggests that there is potential for mineralization to continue at depth over the entire target area. The results of this drill campaign, when evaluated in conjunction with the 2021 geophysical survey TMI results, have identified a further six high-mag targets that would be the aim of further geological work on the property, which would further demonstrate the full potential of the project.

The attached table lists the best assay results received and utilizes samples with over 1 per cent copper equivalent index (CuEq). The CuEq was calculated due to the presence of significant silver and gold values associated with the copper results and was calculated using the criteria described herein.

CAT chief executive officer Robert Rosner stated: "These results from our initial drill program on Burntland are very interesting [and] encouraging. The limited scope of the drilling was designed to confirm certain particulars contained in the historical database as well as substantiate the various indicators that came out of the trenching program, the high-resolution drone magnetic survey, and the geophysical VLF-EM, DTM and mag survey. Further evaluation is required and ongoing, however, the opinion of the technical team and management at this time is that further exploration work, including a potential expanded drill plan, is warranted."

Patrick Laforest, PGeo (Quebec and New Brunswick), BSc, MBA, is the qualified person as defined by National Instrument 43-101 who has reviewed and approved the technical contents of this press release.

About CAT Strategic Metals Corp.

CAT Strategic Metals' corporate strategy, as reflected in its overall mission statement, is to source, identify, acquire and advance property interests located in mineral districts proven to have world-class potential, primarily for gold and copper. In addition to the priority South Preston uranium project, CAT is focused on advancing the Burntland project located northeast of St. Quentin in the Restigouche county, New Brunswick, Canada, directed at the exploration and development of several skarn-hosted copper-silver, gold targets and the Gold Jackpot strategic metals property located northeast of Elko, Nev., in the Pequop gold-copper trend with multiple targets for gold-silver, copper and tellurium. CAT's shares trade on the Canadian Securities Exchange (CSE) under the trading symbol CAT, and on the Frankfurt Stock Exchange under the symbol 8CH.