Mr. Sean Cleary reports

STRATEGIC RESOURCES ANNOUNCES COLLABORATION AGREEMENT WITH TACORA RESOURCES

Strategic Resources Inc. has signed a collaboration agreement with Tacora Resources Inc. that will explore using Tacora's iron ore concentrate to feed Strategic's planned phase 1 high-purity iron pelletizer project at Port Saguenay. The agreement will focus on testing of Tacora's iron ore concentrate to determine the suitability for the direct-reduction-grade pellets that Strategic plans to produce from the project. The agreement considers Strategic purchasing up to 25 per cent of Tacora's future expanded throughput capacity. This could provide the project with approximately 25 per cent to 40 per cent of the required iron ore concentrate feed for pelletizing.

Sean Cleary, chief executive officer of Strategic, commented: "We are pleased to be engaging with the Tacora team, whose new leadership has an impressive, demonstrated track record in the iron space. Local Canadian iron ore sources such as Tacora's Scully mine in the Labrador Trough will help to increase downstream value creation within the Canadian iron ore industry and enhances the overall development of clean, green steel inputs in Canada."

Brian Penney, chief executive officer of Tacora, commented: "Tacora is committed to supporting the transition to a low carbon economy, and this collaboration with Strategic Resources represents a significant step in that direction," said Brian Penney, chief executive officer of Tacora Resources. "Our high-grade iron ore is already being used in the direct reduction iron market, and through this partnership, we will be exploring new opportunities to help drive the growth of green steel production. This is a key part of our strategy to provide high-quality, sustainable products that meet the evolving demands of the global steel industry."

About Strategic Resources Inc.

Strategic Resources is a critical mineral development company focused on becoming a supplier of green steel inputs. The company has a planned metallurgical facility site in Canada and 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 located at a seaport in Quebec with full access to the St. Lawrence Seaway. Phase 1 of the BlackRock project now envisages building a four-million-tonne-per-year high-purity iron ore pelletizer in Port Saguenay. The company's head office is in Montreal, Que.

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