CAT Strategic Metals Corporation announced that it is concentrating financial and human resources on further exploration of the Company's Gold Jackpot Project in Elko County, Nevada, throughout the Spring, Summer, and Fall in order to better understand how this property might relate to the lithium discovery reported by Surge Battery Metals Inc. on its Nevada North Lithium Project located close by. CAT & SURGE Properties MineralizationGold Jackpot is located less than 1.7 miles from Surge's property, which announced strong lithium results in a series of news releases beginning in December of 2022, and as recently as May 16, 2023. CAT's Gold Jackpot property is comprised of 61 consolidated claims, covers 510 hectares (1,260 acres) and sits on surface of the Idavada Formation tuffs, previously mapped by the USGS.

This is the same geological setting in which Surge reported its lithium discovery. 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 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. Further scrutiny of the available Gold Jackpot database revealed that from 1988-1990, Tenneco Minerals engaged in various exploration and sampling activities that included a 28-hole reverse circulation drilling program. These holes were mostly very shallow, +/- 100 metres, and were designed to test for open-pitable gold and silver contained in strongly altered Paleozoic host rocks in an area right in the middle of the property. Following this drill program Tenneco abandoned the project and the area is now known as the Stag's Leap Porphyry-Diatreme Target, which was identified as such by Mr. Redfern.