CAT Strategic Metals Corporation announces that it has received a Technical Report (the "Report") covering the Company's South Preston Uranium Project (‘South Preston' or the "Project"), prepared in accordance with the guidelines of National Instrument 43-101 ("NI 43-101") by Watts, Griffis and McOuat Limited, Geological and Mining Consultants' ("WGM") Senior Geologist, Mr. Albert (Al) Workman. The South Preston Project is a uranium exploration project comprising a group of 12 mineral dispositions located in the vicinity of the south-western Athabasca Basin in northern Saskatchewan. The dispositions are 100% owned by CAT Strategic Metals Corp.

("CAT"). With exploration experience in a wide variety of geological terranes over a span of more than 45 years, including ground-breaking experience with Gulf Minerals in the eastern Athabasca Basin, Mr. Workman is a Qualified Person in accordance with the definition prescribed in NI 43-101. The Report is available to the public on SEDAR.

Following an initial review of the available project data, CAT engaged WGM in September of 2021 to carry out WGM's proposal which outlined the scope of work required to ascertain the potential for uranium mineralization similar to other unconformity-type deposits in the Athabasca Basin. These types of deposits are the highest-grade uranium deposits known. The location of the South Preston property is predominantly outside of the area currently covered by the Athabasca Formation sandstone.

As a result, the area has not received the same degree of attention and exploration given to other areas of the Athabasca Basin crossed by unconformity. The CAT Project area therefore has the distinct advantage that basement-hosted mineralization will not be covered by many hundreds of metres of Athabasca sandstone. Particular interest in the Project has increased as a result of CAT's neighbour, Azincourt Energy Corp.

("AZINCOURT" OR "AAZ"), discovering a conductive zone on its East Preston property a short distance to the north of the CAT dispositions; Azincourt's SSW-trending zones project directly onto CAT's exploration property. According to WGM, the geological setting in respect to lithology, structural trends and indicative conductivity evidence of the CAT Project is inferred to be similar to that of the Fission Uranium and NexGen Energy properties in the Patterson Lake South area located about 30 km to the northwest.