Mr. Mathew Wilson reports

STERLING METALS ADVANCES INAUGURAL FIELD EXPLORATION CAMPAIGN AT THE COPPER ROAD PROJECT

The inaugural phase 1 exploration campaign at Sterling Metals Corp.'s Copper Road project is well under way. Located 80 kilometres north of Sault Ste. Marie, Ont., Canada, Copper Road is a 25,000-hectare high-potential brownfield copper-molybdenum-silver-gold project associated with the Midcontinent Rift, which, until 2021, had never been fully consolidated. The project benefits from its strategic proximity to substantial infrastructure.

Highlights:

• Given the extensive history of exploration and mining, as well as numerous surface copper showings, the phase 1 exploration campaign will take a wide systematic and optimized approach to advance the full project understanding in an effort to define targets for future drilling across the land package (described further below).
• Several exploration activities were completed in May and June, ahead of schedule, including:
  • Property-wide 3,777-line-kilometre airborne magnetic, radiometric and lidar (light detection and ranging) survey;
  • Physical property testing to define geophysical signatures of targets;
  • Commenced minimum 5,000 surface sample program across the project.
• Advanced modelling of historical geophysical data to extract new important layers of data for targeting and to map the plumbing of the mineralization is anticipated to be completed in July.

Jeremy Niemi, senior vice-president of exploration and evaluation at Sterling Metals, commented: "As we review core samples from historical holes and explore previous mine sites, the immense geological opportunity at Copper Road becomes clear. Consolidating this vast land package, leveraging historical data, and integrating it with modern geophysics and surface mapping is an exploration geologist's dream. We are quickly advancing our understanding of the porphyry and breccia systems, and look forward to uncovering the riches this project has to offer. We look forward to launching an exciting drilling program in the near future."

Phase 1 exploration campaign

The field base is now set up and the field crew has commenced an extensive soil sampling and mapping campaign (minimum of 5,000 samples to be collected). As a lead into the soil sampling campaign, the company completed two test lines in areas of known mineralization and with historical surface sampling. The samples and in-house measurements of copper in soils provided an excellent correlation with historical work and known mineralization.

The company has also completed a property-wide helicopter airborne survey to collect high-resolution magnetic signatures of the rocks, radiometrics data to map alteration related to copper porphyry, detailed lidar data to accurately map the topography and important structures related to mineralization. The data will be used to build a 3-D model of the geology across the project, which will assist in identifying the plumbing of the copper-molybdenum porphyry and breccia pipes and to potentially locate new targets for future drilling. Magnetic signatures of key rock types offer an excellent opportunity to locate important geological units such as the mafic volcanics close to mineralization, similar to that seen in historical hole AR96-01 drilled in 1996, which play an important role in the accumulation of copper sulphides. Mafic-volcanic-hosted copper sulphides in copper porphyry settings commonly host higher-grade mineralization and can be important types of copper deposits.

The company has also initiated an advanced modelling of the existing VTEM survey over the central area of the property, which has known copper-molybdenum porphyry and breccia hosted mineralization. This work will extract new layers of geophysical data, including chargeability data from what is known as airborne IP (induced polarization). The physical property testing has shown that the copper-molybdenum mineralization on the property has a strong chargeability response and that these data are very important in targeting. Historically, there has been patchy ground IP completed on the property. Utilizing the airborne IP layer, the company will have a larger area of coverage and aim to identify new high-chargeability zones yet to have been drilled. This advanced modelling work of the VTEM survey is expected to be completed by early July, 2024. Based on the results of this work, the company anticipates completing an advanced modelling of the existing ZTEM survey, which would add deep reaching resistivity data to the regional targeting model.

Qualified person

Jeremy Niemi, PGeo, senior vice-president, exploration and evaluation, for Sterling Metals, has reviewed and approved the technical information presented herein.

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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