Storm Exploration and Eabametoong First Nation Sign Exploration Agreement

VANCOUVER, BC / ACCESSWIRE / May 23, 2024 / Storm Exploration Inc. (TSXV:STRM) ("Storm" or the "Company") is pleased to announce that it has signed an Exploration Agreement ("EA") with the Eabametoong First Nation (the "Eabametoong" or the "EFN") regarding the Company's Fort Hope Projects: Miminiska, Keezhik and Attwood.

"The execution of an Exploration Agreement between Storm and the Eabametoong First Nation is a major milestone. I would like to thank Chief and Council for their dedicated time and effort in realizing this agreement and ensuring it is beneficial for both parties," stated Storm's President and CEO Bruce Counts. "Storm firmly believes that the participation of local first nations is critical to the success of a project, and I am excited to be working with the EFN on advancing the highly prospective Fort Hope properties."

"Getting this Exploration Agreement in place is an important step for Eabametoong First Nation," said Chief Solomon Atlookan. "For far too long, other exploration companies have sought to obtain permits from Ontario before working collaboratively with us or other First Nations. The significant thing about this new agreement is that it recognizes the role of our community in permitting, monitoring, and regulating any activities on the land before and beyond any Crown permits. Mr. Counts has been very respectful in working with EFN and this approach should be a model for others to follow. EFN expects all resource companies to come and work with us on common interests, but also to respect where certain activities cannot occur. This agreement outlines a pathway for an ongoing relationship and we look forward to working with Storm to protect and steward the land while exploring this beautiful area that we have been entrusted with."

The EA establishes a framework for ongoing consultation with the EFN and provides the community with an opportunity to participate in the project through employment, training, and business development. Under the terms of the EA, the Storm will make contributions to a community fund in an amount that is proportional to its exploration expenditures in EFN territory. In addition, the Company will issue to the EFN, $275,000 in common shares of Storm over a four year period, commencing with $25,000 in common shares to be issued within 90 days of TSXV acceptance of the EA.