CAT Strategic Metals Corporation reported that there have been numerous recent shareholder enquiries regarding the Company's ownership interest in the Kamativi Lithium Tailings Project (the "Project"), located in Northwest Zimbabwe. In 2018, through an earn-in process, CAT acquired an 18.9% interest in Zimbabwe Lithium Company (Mauritius) Limited ("ZIM"), which has the development rights for the Kamativi Lithium Tailings Deposit at the currently defunct Kamativi Tin Mine; the mine began production in 1936 and ceased operations in 1994 due to low tin prices and falling ore grades. ZIM, in turn, holds a 100% interest in Zimbabwe Lithium Company (PVT) Ltd. ("ZLC") (formerly Jimbata (Pvt) Ltd).

The Kamativi Tailings Project is a joint venture ("JV") between the Zimbabwe Mining Development Corporation ("ZMDC"), owners of Kamativi Tin Mines - which holds 40% of the Project, and ZLC - which holds a 60% interest. The Kamativi Tailings Project is a man-made deposit that was generated as a site for the containment of tailings produced during the processing of tin mineralization at the Kamativi Tin Mine. The tailings were deposited over a 58-year production period and are derived from the mining and processing of mineralized tin bearing lithium-caesium-tantalum pegmatites.

Spodumene is the main lithium mineral present and historical estimates of the size and lithium content of the deposit - coupled with the most recent work undertaken by the Company in 2018- indicate that there is lithium mineralization of economic interest. At the time the Company acquired its interest in the Kamativi Lithium Project in 2018, prices for battery grade lithium carbonate were ~ USD 14,000 per ton on the world market. In 2022, prices have increased significantly to a recent high of ~ USD$73,000 per ton; roughly a 500% increase (source: U.S. Geological Survey).

The supply and demand issues effecting current lithium prices.