CAT Provides Update ON Its GOLD Jackpot Property IN Nevada; Lithium and Tellurium Add Significant Interest to Known GOLD-Silver-Copper Porphyry System
1010 –789 West Pender Street, Vancouver, BC V6C 1H2
NEWS RELEASE
CAT PROVIDES UPDATE ON ITS GOLD JACKPOT PROPERTY IN NEVADA; LITHIUM
AND TELLURIUM ADD SIGNIFICANT INTEREST TO KNOWN
GOLD-SILVER-COPPER PORPHYRY SYSTEM
• New Focus on Lithium and Tellurium Exploration
• Initial Gold Jackpot Drill Targets Identified
• NI 43-101 Technical Report on Gold Jackpot Underway
VANCOUVER, BC MAY 23, 2023 - CAT Strategic Metals Corporation (CSE: CAT, OTC: CATTF, FRA:
8CH) (“CAT” or the "Company") announces that it is concentrating financial and human resources on
further exploration of the Company’s Gold Jackpot Project (“Gold Jackpot”) in Elko County, Nevada,
throughout the Spring, Summer, and Fall in order to better understand how this property might relate to
the lithium discovery reported by Surge Battery Metals Inc. (“Surge”) on its Nevada North Lithium Project
located close by.
CAT & SURGE Properties Mineralization
Gold Jackpot is located less than 1.7 miles from Surge’s property , which announced strong lit hium
results in a series of news releases beginning in December of 2022, and as recently as May 16, 2023.
CAT’s Gold Jackpot property is comprised of 61 consolidated claims, covers 510 hectares (1,260 acres)
and sits on surface of the Idavada Formation tuffs, previously mapped by the USGS. This is the same
geological setting in which Surge reported its lithium discovery.
Gold Jackpot has had substantial historical exploration completed from the 1980’s to early 2000’s, which
was predominantly focused on delineating a n area of gold-silver-copper mineralization but was never
explored for lithium specifically . However, the most recent review by CAT consulting geologist, Rick
Redfern, of rock chip sampling contained in the database identified 6 samples with unexpected highly
anomalous values of lithium ; up to 158.5 ppm. These chip samples – which were collected as part of
previous regional gold exploration activities – demonstrate the unexpected strong potential for a lithium
discovery for CAT , given what Surge has discovered on its property. Other additional historic assay
results returned gold values up to 4.84 g/t , silver values of up to 239 g/t, and tellurium values of up to
339 g/t.
Further scrutiny of the available Gold Jackpot database revealed that from 19 88-1990, Tenneco
Minerals engaged in various exploration and sampling activities that included a 28-hole reverse
circulation drilling program. These holes were mostly very shallow, +/- 100 metres, and were designed
to test for open-pitable gold and silver contained in strongly altered Paleozoic host rocks in an area right
in the middle of the property. Following this drill program Tenneco abandoned the project and the area
is now known as the Stag’s Leap Porphyry -Diatreme Target , which was identified as such by Mr.
Redfern.
1010 –789 West Pender Street, Vancouver, BC V6C 1H2
Gold Jackpot Initial Drill Program
Surge’s highest grade lithium zone in the formation, reported thus far, has values in excess of 5,000
ppm and recent drilling shows local thicknesses in excess of 100 feet, with the main body showing a
North-South trend that is possibly indicative of structural control by N-S feeder faults. Fault lines within
this specific lithium type deposit have been considered traps for more concentrated lithium brines. Gold
Jackpot shows the same late N-S faulting that could have acted as traps, or feeder faults, for the
formation of lithium deposits. Alternatively, these N-S faults could have been hydrothermal vent
structures that fed volcanic-related hydrothermal lithium-rich fluids up from depth. What is also
interesting is that Surge has reportedly identified only one N-S fault trend on its property, while three of
the same N-S trending mineral systems have been identified on Gold Jackpot.
As a result of this new information, the Company will immediately commence the planning of a follow
up exploration program that may include drilling to test these exciting and unexpected targets. In fact,
CAT already has three initial drill targets on the Stag’s Leap system that have been identified as ground
zero on which to initiate an exploratory drilling program.
Gold Jackpot NI 43-101
Due to the elevated importance - in light of recent drill results in the area - of continuing exploration on
Gold Jackpot, CAT has moved to produce an NI 43-101 Technical Report on the property and has
engaged Patrick Laforest to produce the report. Mr. Laforest has worked closely with CAT in the past
and was the consulting geologist and Project Manager of the drill program conducted last year on the
Company’s Burntland Project in Northern New Brunswick. Mr. Laforest is also a Qualified Person as
defined by the definition prescribed in NI 43-101.
According to CAT CEO, Robert Rosner, “Our Gold Jackpot property has come into focus as much
more of a current priority as a result of the discovery of lithium on the Surge property. Mining
exploration in Nevada is much easier, and far more accessible than it is in northern
Saskatchewan, where our South Preston Lithium project is located. We are very excited to see
what further exploration activities uncover on Gold Jackpot and have begun the planning
process to get to work on the ground as quickly as possible.”
Mr. Richard R. Redfern, M.S., C.P.G. No. 10717, is the qualified person as defined by National
Instrument 43-101 who has examined the property on the ground, and who reviewed the geological
information available from public sources related to the property, and is responsible for approv ing the
technical contents of this press release.
About CAT Strategic Metals Corporation (CAT)
CAT Strategic Metals' corporate strategy, as reflected in its overall Mission Statement, is to source,
identify, acquire and advance property interests located in mineral districts proven to have world -class
potential, primarily for gold and copper. In add ition to the priority South Preston Uranium Project, CAT
is focused on advancing the Burntland Project located northeast of St. Quentin in the Restigouche
County, New Brunswick, Canada, directed at the exploration and development of several Skarn-hosted
copper-silver, gold targets and the Gold Jackpot strategic metals property located NE of Elko, Nevada,
in the Pequop gold -copper-lithium trend with multiple targets for gold -silver, copper, tellurium , and
potential uranium. CAT's shares trade on the Canadia n Securities Exchange (CSE) under the trading
symbol "CAT", and on the Frankfurt Stock Exchange under the symbol "8CH".
ON BEHALF OF THE BOARD
Robert Rosner
Chairman, President & CEO
1010 –789 West Pender Street, Vancouver, BC V6C 1H2
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, by visiting
the Company's website www.catstrategic.com or by contacting the Company directly at (604) 674-3145.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in
policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of
this release.
We seek safe harbour.