CAT Strategic Stakes More Ground Around Its Gold Jackpot Property; Lithium Targets Are Top Priorities with A Geological Team On-Site to Initiate Comprehensive Work Program Planning

• Increased Land Position in Known Lithium Discovery Area
• Lithium and Tellurium Exploration Planning Underway

VANCOUVER, BC / ACCESSWIRE / June 8, 2023 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") announces that consulting geologists Rick Redfern and Patrick Laforest are on-site conducting work on the Company's Gold Jackpot property located NE of Elko, Nevada. The recent discovery of highly anomalous lithium values reported by Surge Battery Metals Inc. ("Surge") on its Nevada North Lithium Project, located only ~1.5 miles from Gold Jackpot, has prompted CAT management to shift the Company's primary focus to lithium and tellurium exploration activities on the Nevada property.

NEW CLAIMS STAKED

As a result of this shift in focus, CAT has staked a further 12 claims to the west of its existing claim block, increasing the Company's land holdings to 1508 acres (610 hectares). The geological setting underlying the newly staked claims is thought to be an extension of the system on Gold Jackpot that shows the same late N-S faulting - as reported by Surge - that could have acted as traps, or feeder faults, for the formation of lithium deposits. Alternatively, these N-S faults could have been hydrothermal vent structures that fed volcanic-related hydrothermal lithium-rich fluids up from depth. If this is confirmed to be the same, or similar, geological setting in which Surge reported its lithium discovery, then CAT has added considerable value to its shareholders and increased the possibility of locating a significant lithium discovery of its own.

GOLD JACKPOT MINERALIZATION

Gold Jackpot has had substantial historical exploration completed from the 1980's to early 2000's, which was predominantly focused on delineating an area of gold-silver-copper mineralization but was never explored for lithium specifically. However, the most recent review by CAT consulting geologist, Rick Redfern, of rock chip sampling contained in the database identified 6 samples with unexpected highly anomalous values of lithium; up to 158.5 ppm. These chip samples - which were collected as part of previous regional gold exploration activities - demonstrate the unexpected strong potential for a lithium discovery for CAT, given what Surge has discovered on its property. Other additional historic assay results returned gold values up to 4.84 g/t, silver values of up to 239 g/t, and tellurium values of up to 339 g/t. Tellurium is interesting because it is one of the least common elements on Earth. Most rocks contain an average of about 3 parts per billion tellurium, making it rarer than the rare earth elements and eight times less abundant than gold (source: USGS) and is used primarily in the solar panel industry.