Mr. Douglas Eaton reports

STRATEGIC METALS AND GGL RESOURCES PROPERTY TRANSACTION APPROVED

Strategic Metals Ltd. has received final TSX Venture Exchange acceptance of Yukon copper-gold properties transaction with GGL Resources Corp. The property transaction was announced on July 27, 2026, and required the approval of the disinterested shareholders of both Strategic and GGL as the transaction was considered a related party transaction as defined in Multilateral Instrument 61-101 and the exchange policies. Disinterested Strategic and GGL shareholder approvals were obtained on Aug. 31, 2026.

As part of its exchange acceptance, GGL has completed a share consolidation at a ratio equal to four preconsolidation GGL common shares for one postconsolidation GGL common share.

Under the terms of the property transaction, GGL has the right to acquire up to 100-per-cent interest in the Hopper, Kluane, Batt and Moraine mineral properties in southwest Yukon Territory. GGL can earn an initial 70-per-cent interest in the properties by completing all of the following by Dec. 31, 2029:

• Issuing one million postconsolidation GGL shares to Strategic on or before Oct. 31, 2026;
• Incurring $10-million in exploration expenditures on the properties as follows:
  • $2-million on or before Dec. 31, 2027;
  • $3-million on or before Dec. 31. 2028;
  • $5-million on or before Dec. 31, 2029.
• Included in the initial $2-million exploration expenditure requirement is the reimbursement of Strategic of up to $250,000 related to a 2026 exploration program on the properties.

GGL can acquire an additional 30-per-cent interest in the properties for a total interest of 100-per-cent by making an additional payment to Strategic of $3-million on or before the earlier of: (i) March 31, 2030; and (ii) 90 days following the exercise of the first option.

Following the exercise of the second option, Strategic will retain a 2-per-cent net smelter return royalty interest in all future commercial production of all commodities from the properties. GGL will have the right to purchase one-half of the Strategic royalty interest for $3-million at any time prior to the commencement of commercial production from any of the properties.

If GGL elects to exercise the first option only, GGL and Strategic will form a 70/30 joint venture to explore and develop the properties.

About Strategic Metals Ltd.

Strategic is a project generator with 28 royalty interests, eight projects under option to others and a portfolio of approximately 70 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a record of major discoveries. Projects available for option, joint venture, or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of approximately $5-million and large shareholdings in several active mineral exploration companies including 32 per cent of Broden Mining Ltd., 30.4 per cent of GGL Resources Corp., 28 per cent of Rockhaven Resources Ltd., 15.5 per cent of Silver Range Resources Ltd. and 13.23 per cent of Trifecta Gold Ltd. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc., a private Delaware corporation developing a cost-effective alternative to Portland cement, which recently broke ground on its first low-carbon cementitious materials facility in Cleburne, Tex., following the closing of a $124.5-million (U.S.) financing.

We seek Safe Harbor.