Mr. Michael Allen reports

STRIKEPOINT CLOSES SECOND AND FINAL TRANCHE OF PRIVATE PLACEMENT

Strikepoint Gold Inc. has completed the closing of the second and final tranche (tranche 2) of its fully subscribed non-brokered private placement. The company issued an additional 19,431,250 units at a price of four cents per unit for gross proceeds of $777,250 (all dollar figures are denominated in Canadian dollars), bringing the total offering to 50,118,750 units for aggregate gross proceeds of $2,004,750 when combined with the previous closing, subject to final approval from the TSX Venture Exchange. For further information on this previously announced private placement, refer to the company's Feb. 13, 2024, news release and March 4, 2024, news release.

Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of seven cents per common share for a period of 24 months from the date of issuance.

It is anticipated that proceeds from the financing will be utilized as follows: the Cuprite gold project exploratory drilling program, including assay costs and geological review (approximately 83 per cent); claim fee maintenance fees (approximately 7 per cent); with the remaining amount for general working capital, including regulatory, legal and other fees associated with closing the financing (approximately 10 per cent). None of the proceeds raised will be used to pay non-arm's-length parties (as defined in the policies of the TSX Venture Exchange) or to finance investor relations activities.

In connection with tranche 2 of the financing, the company paid $35,175 in finders' fees and issued 879,375 non-transferable broker warrants in consideration for introducing subscribers to the financing. Each finder's warrant entitles the holder thereof to purchase one common share of the company at a price of seven cents per finder's warrant until March 18, 2026.

In accordance with the policies of the TSX-V, the company is relying on a minimum price exception in order to issue securities at less than five cents per listed security. As such, the aggregate number of common shares issued by the company at less than five cents in this offering and in the next 12-month period may not exceed 100 per cent of the number of common shares which were issued and outstanding prior to the offering.

To date, certain insiders of the company participated in tranche 1 of the financing and acquired an aggregate of two million units. The purchase constitutes a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The issuances are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as they are distributions of securities for cash and the fair market value of the units issued to, and the consideration paid by, the insiders did not exceed 25 per cent of the company's market capitalization. No new insiders were created, nor any change of control occurred, as a result of the second tranche of the financing closing.

All securities issued and issuable under the second tranche of the financing will be subject to a four-month hold period expiring July 19, 2024.

We seek Safe Harbor.