Ms. Wendy Chan reports

STRATABOUND PROVIDES 2023 UPDATE AND OUTLINES 2024 RESTRUCTURING AND GROWTH STRATEGY AND PLANS

Stratabound Minerals Corp. has provided a summary of the key activities completed in 2023 and has outlined Stratabound's strategic direction for 2024.

2023 highlights:

• Appointment of Wendy T. Chan as interim chief executive officer and director to lead the company's restructuring and growth strategy and plans;
• Appointment of Buddy Doyle as vice-president, exploration, to lead exploration of several of its key assets;
• Appointment of Marty Stratte, previously on the permitting team at Equinox Gold's Castle Mountain, California, as director;
• Completion of a PEA for its Fremont gold project, California, located on the Mother Lode gold belt, which has produced 50 million ounces of gold;
• Balance sheet improved by $2,426,593 in part due to conversion of the Tomlinson Group's secured debt to shares and dismissal of a lawsuit; Romspen's debt was restructured by adding a provision to make the debt convertible to shares at seven cents per share;
• Addition of a new strategic shareholder, the Tomlinson Group as the second largest shareholder of Stratabound; together with Coast Capital Management, a notable engaged investor behind Jaguar Mining, TMAC, Tahoe, Oceanagold, Rubicon and Argonaut, among others, Stratabound has two important long-term shareholders;
• Confirmation of the presence of a reduced intrusion-related gold system (RIRGS) at Win gold project, southern Tombstone belt, Yukon, yielding up to 8.53 grams per tonne gold and 155 g/t silver (similar intrusive systems discovered at Snowline, Fort Knox, Banyan Gold and Rackla);
• Technical review of the key geological controls at the Fremont gold project:
  • Identify exploration targets from the old underground workings for drill testing within this regionally important orogenic system, which have the potential to define, delineate and extend the structurally controlled, plunging ore shoots of higher-grade mineralization (at grades equivalent to historical grades of over eight g/t gold) to depth;
  • Ensure drilling to be targeted at multiple equivalent zones of mineralization, to build a significant mineral resource along the significant open and untested strike potential on the property;
  • Of note, mineral resource estimate evaluates only 1.4 kilometres of the four-kilometre strike; limited drilling has previously confirmed the presence of the main mineralized structure to a depth of over 1,000 metres vertically below surface.

Hashim Ahmed, chairman of Stratabound, commented, "Two thousand twenty-three was a transformative year for Stratabound, with many changes to set the stage for further growth and development."

Ending the year, the company appointed a dynamic new leader, Ms. Chan, who has a diverse background of completing many strategic reorganization, marketing and corporate development initiatives at mining and other companies. Adding technical depths and new perspective to the entire portfolio is Mr. Doyle, who has a proven record in exploration and discoveries. He founded and led the exploration and development efforts at Amarillo, a gold mine in Brazil, raising capital at each stage. He was instrumental in its successful sale to a major mining company.

Ms. Chan commented: "Stratabound's new strategic direction, and the key to unlocking shareholder value, focuses on separating its key assets, positioning new investors and building a strong team. We are putting together an execution-focused team of professionals at the corporate and board level to rebuild Stratabound. As gold hovers near historic highs, we are excited with the possibilities. Stay tuned for more updates as we move into 2024."

About Stratabound Minerals Corp.

Stratabound 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, 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, and Snowline Gold's Valley target on its Rogue property in the Selwyn basin.

Its McIntyre Brook project, 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 g/t Au over 50 m) 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 preliminary economic assessment with an after-tax net present value of $217-million (U.S.), a 21-per-cent internal rate of return and an 11-year 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 oz at 1.90 g/t Au within 19.0 million tonnes indicated, and 2.02 million oz at 2.22 g/t Au within 28.3 million tonnes inferred. The MRE evaluates only 1.4 kilometres of the four-kilometre strike length of the Fremont property that 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 preliminary economic assessment 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, 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, who is a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

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