CAT Strategic Metals Corporation provided an activity update on its Gold Jackpot property located in northeastern Elko County, Nevada, very near the Surge Battery Metals Inc. Lithium Discovery. 51 LITHIUM and CARLIN-STYLE GOLD CLAIMS FILED with BLM RENO OFFICE. 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). 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. Further sampling of the Jackpot Lithium claims will be done to determine the geochemical surface distribution of lithium present on the CAT claims. 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. As previously reported, CAT's Gold Jackpot property lies less than 1.5 km to the NE of the Surge NNLP and is in the same geologic formation and context as their discovery area and appears to contain similar distinct commodities. For the past number of months, CAT has been able to maintain the basics of its business while it continues to seek outside investment capital.

In the interim, numerous plans have been drawn up that address the work programs to be carried out on its Gold Jackpot Project once the necessary exploration funds are secured.