Mr. W. Douglas Eaton reports

STRATEGIC METALS' PARTNER BENJAMIN HILL MINING INTERCEPTS 211.65 METRES OF 0.46 GRAMS/TONNE GOLD IN MAIDEN DRILL PROGRAM AT THE ALOTTA GOLD-COPPER-MOLYBDENUM PROJECT, YUKON

Strategic Metals Ltd.'s partner, Benjamin Hill Mining Corp., has successfully intersected extensive porphyry-style mineralization in its inaugural diamond drill program at the Alotta gold-copper-molybdenum project in west-central Yukon. Benjamin Hill has the optional right to earn up to a 60-per-cent interest in the Alotta project by incurring aggregate exploration expenditures of $11-million by the end of 2027 and making aggregate cash payments to Strategic of $500,000 by Jan. 17, 2028.

Holes ALT-23-01 and ALT-23-02 tested the south-central portion of an induced polarization chargeability high with coincident copper-in-soil and gold-in-soil anomalies. The drill program is expected to recommence in May, 2024, and will focus on three areas of coincident copper-in-soil, molybdenum-in-soil and gold-in-soil geochemical anomalies that indicate potential centres of porphyry mineralization.

"Strategic Metals is very pleased with the exceptional gold results from this maiden drill program. The soil geochemical anomaly at Alotta is huge and offers excellent potential for discovery of more copper- and molybdenum-rich areas elsewhere on the property," stated Doug Eaton, chief executive officer and president of Strategic Metals. "We look forward to working closely with the team at Benjamin Hill to follow up on this initial success."

Both holes exhibited multiple intrusive phases, including intrusive breccias displaying strong biotite alteration, carbonate veining, and pyrrhotite, pyrite, chalcopyrite and molybdenite mineralization as interstitial clots and stringers.

Technical information in this news release has been approved by Jackson Morton, PGeo, a senior geologist with Archer Cathro & Associates (1981) Ltd. and qualified person for the purpose of National Instrument 43-101.

About Strategic Metals Ltd.

Strategic is a project generator with 12 royalty interests, four projects under option to others and a portfolio of 96 wholly owned projects that are the product of over 50 years of focused exploration and research by a team with a record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of approximately $2-million and large shareholdings in several active mineral exploration companies, including 32.8 per cent of Broden Mining Ltd., 33.4 per cent of GGL Resources Corp., 29.6 per cent of Rockhaven Resources Ltd., 16.2 per cent of Silver Range Resources Ltd., 15.6 per cent of Precipitate Gold Corp. and 15.2 per cent of Honey Badger Silver Inc. All these companies are engaged in promising exploration projects. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc., a private Delaware corporation developing a cost-effective alternative to Portland cement, which recently announced a definitive agreement with Asher Materials for an exclusive market licence of Terra's first commercial-scale advanced processing facility.