Ms. Wendy Chan reports

STRATABOUND IMPROVES BALANCE SHEET - $1.6M LIABILITY FROM LEGACY LAWSUIT SUCCESSFULLY DISMISSED

Stratabound Minerals Corp. has provided an update on a long-standing litigation matter that existed when it acquired California Gold Mining Inc. (CGM) in August, 2021. The matter involved claims from suppliers of CGM's former hemp business totalling $1,214,000 (U.S.). A Granville county, North Carolina, court recently granted CGM's motion to dismiss the case. As a result of the dismissal of this litigation matter the company is no longer exposed to this claim and its balance sheet has improved by approximately $1-million as compared with its balance sheet at Dec. 31, 2022.

Interim chief executive officer of Stratabound, Wendy T. Chan, comments: "As part of the condition in acquiring an asset at a compelling valuation in 2021, our company had to absorb legacy agreements and liabilities. With this legacy liability cleaned up, our company's balance sheet further improves and positions Stratabound for a strong 2024. We are poised for growth with a focused plan to advance our mineral assets systematically and expeditiously. We are now more attractive to investors."

About Stratabound Minerals Corp.

Stratabound Minerals is a Canadian exploration and development company with grassroots and advanced exploration properties in highly prospective and safe mining jurisdictions.

Its Golden Culvert and Win projects in Yukon, covering 99.5 square kilometres across a 27-kilometre strike length, are situated in a district-scale, high-grade-gold-mineralized trend within the southern portion of the Tombstone gold belt. Gold deposits and occurrences within the belt include Fort Knox, Pogo, Brewery Creek and Dublin Gulch as well as Snowline Gold's Valley target on its Rogue property in the Selwyn basin.

Its McIntyre Brook project in New Brunswick, covering 120 square kilometres and a 17-kilometre strike length in the emerging Triple Fault gold belt, is surrounded by Puma Exploration's Williams Brook project (5.55 grams per tonne gold over 50 metres) and is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway project.

The company is also advancing its Fremont gold development project in the historic Mother Lode gold belt of California, where 50 million ounces of gold have been produced. Fremont, located 500 kilometres north of Equinox Gold's Castle Mountain and Mesquite mines, has a PEA (preliminary economic assessment) with an after-tax NPV (net present value) of $217-million (U.S.), a 21-per-cent IRR (internal rate of return), an 11-year LOM (life of mine), averaging 118,000 ounces per annum at $1,750 (U.S.) per ounce gold. The project hosts a National Instrument 43-101 resource of 1.16 million ounces at 1.90 grams per tonne gold within 19 million tonnes indicated and 2.02 million ounces at 2.22 grams per tonne gold within 28.3 million tonnes inferred. The MRE evaluates only 1.4 kilometres of the four-kilometre strike length of the Fremont property, which features four gold-mineralized zones. Significantly, three stepout holes at depth hit structure, typical of orogenic deposits that often occur at depth. Fremont is located on private land in Mariposa, the original gold rush county, and is 1.5 hours from Fresno, Calif. The property has year-round road access and is close to airports and rail. Please refer to the Fremont gold project PEA dated April 4, 2023, under NI 43-101 guidelines. The technical report has been reviewed and approved by independent qualified persons Eugene Puritch, PEng, FEC, CET, and Andrew Bradfield, PEng, both of P&E, and Travis Manning, PE, of KCA.

The company also holds a pipeline of early-stage exploration projects, including the critical mineral Captain cobalt-copper-gold deposit in New Brunswick and the Dingman gold project in Ontario.

Qualified person statement

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, director, BSc (honours) (economic geology; UCT), FAusIMM, and a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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