Mr. Mathew Wilson reports

STERLING METALS COMPLETES ACQUISITION OF THE COPPER ROAD PROJECT IN ONTARIO

Sterling Metals Corp. has completed the acquisition of the Copper Road project from Copper Road Resources Inc. through the purchase of 100797918 Ontario Inc., a wholly owned subsidiary of Copper Road. Located 80 kilometres north of Sault Ste. Marie, Ont., Canada, the Copper Road project is a 24,000-hectare high-potential brownfield copper-moly-silver-gold project associated with the Midcontinent Rift, which until 2021 had never been fully consolidated. Recent porphyry and breccia drill holes as well as past copper production from two mines suggest the potential for larger intrusion-related copper mineralization. The Copper Road project benefits from its strategic proximity to substantial infrastructure.

As consideration for the transaction, Sterling has acquired the subsidiary and issued 108,087,669 common shares in the capital of the company, of which 86,249,546 consideration shares will be distributed, on a pro rata basis, to the shareholders of record of Copper Road as of close of business on Wednesday, May 8, 2024. Sterling has also paid $460,000 in cash.

Mathew Wilson, chief executive officer and director of Sterling, commented: "We are excited to complete the acquisition of Copper Road, adding a complementary and compelling project to our growing Canadian exploration portfolio. The timing of transaction represents a significant opportunity for existing and new shareholders of Sterling, as we enter a new copper supercycle, largely the product of years of underinvestment and lack of discoveries. As we look ahead, we are excited to begin our phase I exploration program in the coming weeks. Our exploration team as been diligently gathering historical and current data and we look forward to providing plans with the aim of making important discoveries in Eastern Canada."

For additional information on the Copper Road project and the transaction, please refer to Sterling's news releases dated Feb. 14, 2024, Feb. 27, 2024, and April 30, 2024.

In connection with the transaction, Sterling has agreed to pay a finder's fee to Castlewood Capital Corp. (the finder) in the amount of $20,000 (plus all applicable taxes) and shall issue the finder an aggregate of 2,064,841 common shares in the capital of Sterling.

About Sterling Metals Corp.

Sterling Metals is a mineral exploration company focused on large-scale and high-grade Canadian exploration opportunities. The company is advancing the 24,000-hectare Copper Road project in Ontario which has past production, and multiple breccia and porphyry targets strategically located near robust infrastructure, and the 29,000-hectare Adeline project in Labrador which covers an entire sediment-hosted copper belt with significant silver credits. Both opportunities have demonstrated potential for important new copper discoveries, underscoring Sterling's commitment to pioneering exploration in mineral-rich Canada.

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