Mr. R. Kim Tyler reports

STRATABOUND FILES NI 43-101 TECHNICAL REPORT ON UPDATED MINERAL RESOURCE ESTIMATE ON FREMONT GOLD PROJECT

Stratabound Minerals Corp. has filed on SEDAR the National Instrument 43-101 technical report on the updated mineral resource estimate for its wholly owned Fremont gold project in California's mother lode gold belt. The technical report, which was prepared by P&E Mining Consultants Inc., has an effective date of June 30, 2022, and is titled "Technical Report and Updated Mineral Resource Estimate of the PineTree-Josephine and Queen Specimen Deposits, Fremont Gold Project, Mariposa County, Central California, USA."

The updated MRE (previously announced Aug. 18, 2022) confirms significant increases in both indicated and inferred mineral resource classifications.

Highlights of the 2022 updated MRE include:

• Indicated mineral resource increased by 121 per cent to 1,163,000 ounces (oz) gold (Au) (19,011,000 tonnes (t) at 1.9 grams per tonne (g/t) Au);
• Inferred mineral resource increased by 348 per cent to 2,024,000 oz Au (28,323,000 t at 2.22 g/t Au);
• Pit component (pit-constrained) consists of 1.15 million ounces (Moz) Au indicated (18,891,000 t at 1.9 gt Au) and 1.49 Moz Au inferred (22,507,000 t at 2.06 g/t Au) mineral resource classifications;
• Out-of-pit component (underground) consists of 9,000 oz Au indicated (121,000 t at 2.21 g/t Au) and 536,000 oz Au inferred (5,816,000 t at 2.87 g/t Au) mineral resource classifications.

The updated MRE replaces the company's previous mineral resource estimate dated Sept. 30, 2021, which extended along 960 metres of strike, 350 m below surface and included only the Pine Tree/Josephine pit-constrained component.

The updated MRE now extends along 1,400 m of combined strike length and up to 600 m below surface as it additionally includes the satellite Queen Specimen pit-constrained plus the Pine Tree/Josephine out-of-pit components. Historical mining commencing in 1849 subsequent to the California gold rush at the Pine Tree/Josephine underground mines extended across 800 m of strike, 600 m vertical depth and produced 126,000 oz of gold in 540,000 tons, (eight g/t Au) at the historical gold price of $35 (U.S.) per ounce before closing in 1944.

The updated MRE is based on 33,982 m of drilling, 518 m of trench sampling and 5,760 m of underground channel sampling.

Updated fremont gold project mineral resource estimate

The updated Fremont gold project mineral resource estimate was prepared by P&E with an effective date of June 30, 2022, in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards on Mineral Resources and Reserves (2014) and Best Practices Guidelines (2019).

Pit-constrained mineral resources are reported using a cut-off grade of 0.25 g/t Au for oxide material and 0.45 g/t Au for sulphide material. Out-of-pit (underground) mineral resources are reported using a cut-off grade of 1.45 g/t Au. Out-of-pit mineral resources have been constrained within potentially minable long hole shapes based on block grade and continuity. Historical mining has been depleted from the updated mineral resource estimate by assigning a zero-volume percentage block inclusion for known areas of mining and development.

A summary of the MRE is provided in the table entitled: Summary of mineral resource estimate. The economic assumptions used for the updated MRE are provided in the notes to the table.

Qualified persons

All mineral resource estimation work reported herein was carried out by Fred Brown, PGeo, and Eugene Puritch, PEng, FEC, CET, both of P&E and independent qualified persons in terms of NI 43-101.

About Stratabound Minerals Corp.

Stratabound Minerals is a Canadian mineral exploration and development company that is developing its advanced-stage flagship Fremont gold project in the historic Mother Lode gold belt of California. The Fremont property features an NI 43-101 mineral resource estimate of 1.16 million Au ounces at an average grade of 1.90 g/t Au in the indicated, plus 2.02 million ounces at an average grade of 2.22 g/t Au in the inferred mineral resource classifications. This current MRE evaluates only 1.4 km of the entire four km strike length of the Fremont property that features four gold-mineralized zones, and a recently announced 285 m wide, 30 parts per billion (ppb) to 5,210 ppb gold, averaging 412 ppb gold-in-soil anomaly connected over all the zones across the full extent of the property. The company is also advancing its pipeline of early-stage exploration projects in Canada including the Golden Culvert, Yukon and McIntyre Brook gold projects, and the Captain cobalt-copper-gold deposit in New Brunswick.

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