CAT Strategic Metals Corporation provided an update on its Gold Jackpot Lithium Property located in Elko County, Nevada, and also reports on various other corporate matters. On June 23, 2023, CAT reported that it had deployed a third consulting geologist to the Gold Jackpot property in order to continue the staking activity that was initially undertaken by Rick Redfern and Patrick Laforest at the beginning of June. This activity resulted in CAT staking a further sixty (60) claims to the east and west of the Company's existing claim block and has increased CAT's landholdings to 121 claims, which now totals 2,499 acres, or 1,011 hectares.

The map below shows CATs existing claims in blue and the newly staked claims in red. It also shows CAT's claims in relation to Surge Battery Metals Inc. ("Surge") and Peloton Minerals Corporation ("Peloton"), the Company's neighbors in what is considered to be a new and emerging lithium discovery area. Claims Boundaries, Gold Jackpot Area: CAT has staked and erected posts on 28 new claims on the eastern side of its central core ground covering the Surge's Leap Porphyry/Diatreme target area and the lithium potential area of interest.

Surge Battery Metals staked claims in the eastern part of the area as well. CAT staked 32 claims in the western area with lithium potential, and no other claims were properly staked and posts erected into place properly in this area by third parties. CAT's 60 new claims are believed to have good potential for the occurrence of lithium deposits similar in character to mineralization found on the Surge claims, although this will have to be tested by exploration drilling.

Four rock chip samples were taken by Redfern and Laforest during their recent visit to the property in early June, and were submitted to the ALS laboratory in Elko, as well as the ALS lab in Vancouver. One sample was taken from altered hematitic rhyolite from the southeastern part of the existing core claimblock, and this sample returned a highly anomalous lithium value of 76.3 ppm Li, as well as anomalous arsenic, bismuth, hafnium, rubidium, tantalum, and 9 ppm uranium. The form, contact- and age relationships of this rhyolite are not yet known, but it is interpreted to be a possible source of the lithium in the project area.

Three samples were taken on Stag's Leap ridge. PL-1 was taken from a flat-lying shear zone that was partly silicified. This yielded anomalous silver, antimony, and tungsten.

Two samples were taken from the main Stag's Leap outcrop zone to the north of PL-1, and these yielded anomalous gold, silver, platinum, antimony, arsenic, copper, indium, lead, tungsten, and 1.74 ppm tellurium. The main Stag's Leap zone is interpreted to represent a zone of hydrothermal leakage from a porphyry/diatreme(?) system at an unknown depth. No drilling has been conducted to date to test this exciting target.