Mr. R. Kim Tyler reports

STRATABOUND ANNOUNCES DEBT RESTRUCTURING AND REDUCTION THROUGH SHARES FOR DEBT TRANSACTION, CORPORATE UPDATE AND AGM RESULTS

Stratabound Minerals Corp. has entered into agreements to restructure and reduce the debt obligations it assumed through the acquisition of California Gold Mining Inc. and its Fremont and Dingman gold projects in August, 2021.

The company today entered into a shares-for-debt settlement agreement pursuant to which it has agreed to issue 45,237,216 common shares at three cents per share to settle a company debt in the amount of $1,357,116.49 owing to R.W. Tomlinson Ltd. under a note the company assumed with the acquisition of California Gold and its subsidiaries.

The debt settlement is subject to the acceptance of the TSX Venture Exchange. The company shares issued upon closing of the debt settlement will be subject to a statutory four-month hold period.

There are no finders' fees or commissions payable in connection with the debt settlement transaction.

The company further announces that today it has also concluded a third amendment to a construction loan agreement on its remaining outstanding debt obligations to Romspen Investment Corp. such that it will be extending its outstanding principal balance of $2,375,881.35 (U.S.) to July 31, 2025, at an interest rate of 15 per cent with all interest accrued and payable on any monthly payment date paid by adding such amount to (and thereby increasing) the outstanding principal balance of the loan (as it may have been increased by any prior payments of payment-in-kind interest). The amendment also includes an optional conversion right subject to applicable securities legislation, the policies of the TSX-V and the provisions of the amendment, such that the lender may, at its option from the date hereof until the close of business on the business day immediately preceding the maturity date, convert all, or a portion of, the outstanding principal balance, any accrued but unpaid interest thereon, and any fees, from time to time, as such amounts are converted from U.S. dollars into Canadian dollars, into such number of fully paid, non-assessable common shares in the capital of Stratabound at a conversion price of seven cents subject to adjustment from time to time pursuant to the amendment. The conversion shares at the conversion price are equal to the conversion amount divided by the conversion price. For the avoidance of doubt, it is the intention of the parties that any resale restrictions imposed on the conversion shares under applicable securities legislation be calculated from the closing date and not from the date of the issuance of the conversion shares.

R. Kim Tyler, president and chief executive officer, stated: "Our entire team of directors, management and lenders have worked determinedly over the past months to resolve the debt we assumed with the acquisition of our highly valued Fremont, California, as well as Dingman, Ontario, gold projects. It has taken time and patience during a very difficult market trough to tidy up our balance sheet, but we are pleased to have made this milestone as we are equally pleased to welcome our two new directors, Wendy Chan and Martin Stratte announced earlier today. We are greatly appreciative of our lenders Romspen Investment Corp. and R.W. Tomlinson Group for their continued support. We can now focus again on showcasing, funding and advancing our projects forward."

Stratabound represented at Beaver Creek Precious Metals Conference

Stratabound directors Wendy Chan and Chad Tappendorf and chairman Hashim Ahmed will be attending the high-profile Beaver Creek Conference in Colorado, actively marketing the company and its assets.

Annual general meeting results

The company is also pleased to report the results of its annual general meeting held July 6, 2023.

Outstanding voting securities:  218,976,847

Total securities represented at the meeting:  117,502,630 (53.66 per cent)

About Stratabound Minerals Corp.

Stratabound 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 a National Instrument 43-101 mineral resource estimate of 1.16 million gold ounces at an average grade of 1.90 grams per tonne gold within 19.0 million tonnes in the indicated classification, plus 2.02 million ounces at an average grade of 2.22 g/t Au within 28.3 million tonnes in the inferred mineral resource classification. This current MRE evaluates only 1.4 kilometres of the entire four-kilometre strike length of the Fremont property that features four gold-mineralized zones. The company is also advancing its pipeline of early-stage exploration projects in Canada, including the Golden Culvert and Win gold projects, Tombstone gold belt, Yukon Territoy, the McIntyre Brook gold project and the Captain cobalt-copper-gold deposit in New Brunswick, and the Dingman gold project, Ontario.

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