CAT Strategic Files 51 New Lode Claims at Gold Jackpot Project as Neighbouring Surge Battery Metals Releases a Mineral Resource Estimate on its Nevada North Lithium Project

• 51 Key Lode Mining Claims Filed and Recorded with Nevada BLM
• CAT neighbour Surge Battery Metals announces Mineral Resource Estimate
• Extended Lithium & Carlin Gold Target Claims Staked at Gold Jackpot
• Stag's Leap Modeling of Porphyry-Diatreme Cu-Au-Ag-Te Mineralization
• Update on its South Preston Uranium Project, Athabasca Basin, Canada
• Other Corporate updates

VANCOUVER, BC / ACCESSWIRE / February 28, 2024 / CAT Strategic Metals Corporation (CSE:CAT)(OTC PINK:CATTF)(FRA:8CH) ("CAT" or the "Company") is pleased to provide an activity update on its Gold Jackpot property ("GJ") located in northeastern Elko County, Nevada, very near the Surge Battery Metals Inc. ("SURGE") Lithium Discovery.

51 LITHIUM and Carlin-style Gold CLAIMS FILED WITH BLM RENO OFFICE

CAT Lithium Claims: CAT filed 51 new Lithium-target lode claims with the BLM Reno, Nevada office on February 1, 2024, covering 1,053.66 acres (426 hectares). CAT's total property claims package now covers 241 claims comprising 4,979 acres (2,015 hectares). The outline of these claims is shown in red in Figure 1.

These 51 new claims cover a northern extension of the lithium-bearing tuff sequence (Humboldt Formation of Miocene age) that is being explored by Surge, as well as Grid Battery Metals, Peloton Minerals, Sienna Resources, and Red Mountain Mining. The 51 claims also enclose a significantly large body of the underlying Jarbidge Rhyolite ("JR") that has high Lithium geochemical values and could be a hydrothermal source for lithium. The JR is of a similar Miocene age as the rocks of the McDermitt sequence holding the giant Thacker Pass lithium Mine owned by Lithium Americas, with a published measured and indicated resources of 13.7 million tonnes of lithium carbonate equivalent, at an average ore grade of 2,231 ppm (0.22%) lithium, which is considered to be the world largest known lithium deposit (source: Lithium Americas, October 7, 2021).

Further sampling of the Jackpot Lithium claims will be done to determine the geochemical surface distribution of lithium present on the CAT claims.

CAT NEIGHBOUR SURGE BATTERY METALS PUBLISHES MINERAL RESOURCE ESTIMATE

In a news release published on February 22, Surge announced a NI 43-101 compliant maiden Mineral Resource Estimate ("MRE") that reported the highest-grade lithium clay resource in the USA with 4.7Mt Lithium Carbonate Equivalent ("LCE") grading 2,839 ppm Li at a 1,250ppm cutoff. The MRE includes over 4Mt of LCE grading 3,167 Li PPM at a 2,000 ppm Li cutoff. The Surge news release also stated that they have significant expansion potential of their resource as the MRE only covers a portion of the known footprint of mineralization that has substantial potential for growth.