Mr. Douglas Eaton reports

STRATEGIC METALS PROVIDES UPDATE ON PORTFOLIO HOLDING: TERRA CO2 TECHNOLOGY

Strategic Metals Ltd. portfolio holding Terra CO2 Technology Holdings Inc. has been selected as a recipient of $52.6-million (U.S.) in funding from the Department of Energy Manufacturing & Energy Supply Chains Office to establish a new manufacturing facility to produce an innovative high-performing supplementary cementitious material in Magna, Utah, United States.

Project description

Terra will establish a new manufacturing facility in Magna, Utah, dedicated to producing an innovative high-performing supplementary cementitious material (SCM), a low-emission, cost-effective replacement for traditional ordinary Portland cement (OPC). The project will use local, above-ground mine tailings from Rio Tinto's Kennecott mine as feedstock to produce 240,000 tonnes per year of local SCM, at lower cost and 70 per cent lower emissions versus OPC production, reducing carbon emissions by 150,000 tonnes per year."

The facility in Magna, Utah, is in addition to the Cleburne project, a state-of-the-art processing facility, where Terra has partnered with Asher Materials to supply SCM in the Dallas-Fort Worth market.

Strategic currently holds 15 million shares or 11.7 per cent of Terra.

About Strategic Metals Ltd.

Strategic is a project generator with 13 royalty interests, 13 projects under option to others, and another 83 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.

We seek Safe Harbor.