Mr. Sean Cleary reports

STRATEGIC RESOURCES ANNOUNCES THE MUSTAVAARA PROJECT WAS SELECTED FOR EUROPEAN UNION VANADIUM-TITANIUM STUDY

Strategic Resources Inc.'s Mustavaara project in Finland has been selected to be part of Avantis, a five-million-euro study on vanadium and titanium funded by the European Union. The EU has recognized its weak position in the vanadium and titanium supply chains. Currently there is no primary vanadium extraction in the EU and 100 per cent of titanium metal and vanadium is imported, with the majority coming from China and Russia. Avantis believes that based on known domestic resources, the EU can supply its growing needs for vanadium and titanium going forward. The study will evaluate new extraction methods to produce two distinct preconcentrates: (1) ilmenite-rich, titanium preconcentrate and (2) ilmenite-free, vanadium preconcentrate.

About the Mustavaara project

Strategic completed a preliminary economic assessment in 2021 on the previously operational Mustavaara mine and concentrator situated in Finland. The project scope included a smelter and hydrometallurgical plant in Raahe, separate from the mine site and concentrator. The project development was based on 329,000 tonnes of annual pig iron and 4,577 tonnes of annual ferrovanadium (80) production over a 20-year mine life.

About Strategic Resources Inc.

Strategic Resources is a critical mineral exploration and development company focused on high-purity iron and vanadium projects in Canada and Finland. The company is developing its flagship BlackRock project, which is a fully permitted and ready to construct mine, concentrator and metallurgical facility (includes a pellet plant and direct reduced iron plant and electric furnace operation) located at Port Saguenay, Que., with full access to the St. Lawrence Seaway. The company's head office is in Montreal, Que.