Mr. Sean Cleary reports

STRATEGIC RESOURCES ADVANCES ENVIRONMENTAL PERMIT AMENDMENT PROCESS FOR PELLET PLANT AT PORT SAGUENAY

Strategic Resources Inc. has advanced in the regulatory process to amend its existing environmental permits at Port Saguenay and has received questions from Quebec's Ministry of the Environment (MELCC or the ministry) regarding its application to modify the company's certificate of authorization to enable a four-million-tonne-per-year iron ore pellet plant, as outlined in its March, 2024, prefeasibility engineering study. As previously disclosed, Strategic has submitted all required environmental documentation and studies to the ministry to support this amendment.

Strategic Resources plans to construct its iron ore pellet plant at Port Saguenay to capitalize on Quebec's low-cost hydroelectric power and access to natural gas, which together with marine access to the Great Lakes and Atlantic seaborne markets, provides a competitive advantage over existing pellet plant sites in Canada.

Management, together with its external environmental advisers, will now review the questions and prepare detailed responses to ensure compliance with the requirements of the ministry. The company intends that the proposed pellet plant meets or exceeds applicable environmental standards and incorporates leading environmental management and monitoring practices. The company remains on schedule to complete the authorization modification and views receipt of the government's questions as a routine and constructive step in the review process.

The government's review of the amendment is expected to take a few additional months, assuming all questions are thoroughly addressed by the company and its advisers, and the company's management team will continue to work closely with regulators to ensure an efficient process.

This news release is being issued in advance of the PDAC 2026 conference taking place from March 1 to March 4 in Toronto, where Strategic's management team will be meeting with investors and stakeholders.

Construction of the multiuser electric pipe conveyor system at Port Saguenay is nearing completion, with commissioning planned for the spring and 100 per cent of conveyor modules already installed. The conveyor has been designed to transport numerous products; notably direct reduction grade iron ore concentrate to Strategic's future iron ore pellet plant and will facilitate the export of iron ore pellets to the company's off-taker and marketing partner.

About Strategic Resources Inc.

Strategic Resources is a critical mineral development company focused on vanadium, high-purity iron and titanium; metals needed to decarbonize the global economy. The company's main projects are the construction-ready BlackRock project in Quebec and the previously operated Mustavaara mine in Finland. Phase 1 of the BlackRock project envisages a four-million-tonne-per-year high-purity iron ore pelletizer at Port Saguenay, Que., with full access to the St. Lawrence Seaway. The company's head office is in Montreal, Que.

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