CAT Strategic Metals Corporation reported that, further to its news release of August 9th, 2022 announcing the completion of airborne geophysical surveys over portions of its South Preston Uranium Project in Canada's prolific Athabasca Basin, the Company has completed reconnaissance ground follow-up bio-geochemical surveying and geological prospecting over anomalies detected in the geophysical survey. The geophysical work consisted of magnetic and electromagnetic surveying and several NE-trending conductive zones were detected that are localized on the boundaries between contrasting (high-low) magnetic domains. Conductors such as these have been associated with graphite-bearing shear zones that are important hosts to uranium mineralization in the Athabasca Basin.

One of these conductive zones is contiguous with the zone currently being drill-tested by Azincourt immediately to the northeast and just over the property boundary. Another north-trending conductor was detected in the general vicinity of uranium mineralization reported by Denison Mines in 1970, however the mineral occurrence could not be located during this field program. CAT's follow-up exploration, carried out under the management of Watts, Griffis and McOuat Ltd. ("WGM") during August and early September, consisted of vegetation sampling and prosecting for outcrops of bedrock spatially associated with the conductive zones.

Two 2-man field crews were deployed, one crew focused exclusively on the bio-geochemical sampling while the other focused on bedrock examinations and sampling. In practical terms, however, the two crews worked very closely with each other to simplify helicopter support and because the focus of the work involved the same conductive zones. Simultaneously with the geochemical sampling, the profiles were prospected for bedrock exposures.

The location of the bedrock was measured by GPS and the ambient levels of radiation were measured using an aforementioned RS-125 spectrometer. Both background and peak gamma-ray activities were recorded for any outcrop and detailed notes were made at every outcrop. A representative suite of 81 rock samples was collected including duplicates for quality control purposes.

All samples are currently being analysed at the Saskatchewan Research Council's Geolab using conventional sample preparation and analysing techniques. Due to high levels of exploration activity nationwide, extended turn-around times of approximately 6 weeks are being forecast by industry laboratories including the SRC.