CAT Strategic Provides Corporate Update ON GOLD Jackpot Property IN the Emerging Lithium Discovery Area IN Elko County, Nevada
1010 –789 West Pender Street, Vancouver, BC V6C 1H2
NEWS RELEASE
CAT STRATEGIC PROVIDES CORPORATE UPDATE ON GOLD JACKPOT PROPERTY
IN THE EMERGING LITHIUM DISCOVERY AREA IN ELKO COUNTY, NEVADA
• Property & Area Map of Existing + New Claims Staked
• Recent Sampling Results From ALS
• Debt Re-Structuring to Facilitate Financing
• Incentive Stock Options Granted
VANCOUVER, BC July 10, 2023 - CAT Strategic Metals Corporation (CSE: CAT, OTC: CATTF, FRA:
8CH) (“CAT” or the "Company") is pleased to provide an update on its Gold Jackpot Lithium Property
located in Elko County, Nevada, and also reports on various other corporate matters.
CAT MAP OF EXISTING + ADDITIONAL NEW CLAIMS
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 1 21
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 nei ghbours in what is
considered to be a new and emerging lithium discovery area.
Figure 1. Claim Boundaries, Gold Jackpot Area
1010 –789 West Pender Street, Vancouver, BC V6C 1H2
CAT has staked and erected posts on 28 new claims on the eastern side of its central core ground
covering the Stag’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, and Figure 1 shows the overlap
where the Surge claims have taken preference over the CAT claims. 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 minerali zation found on the Surge claims,
although this will have to be tested by exploration drilling.
GOLD JACKPOT LATEST SAMPLING RESULTS
Four (4) 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, tu ngsten, 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.
RE-STRUCTURING OF CONVERTIBLE DEBT INSTRUMENT
CAT also reports that it has entered into discussions with the holder of the Senior Secured Loan
Agreement (the “Agreement”) in order to re -negotiate certain terms contained within the Agreement.
The objective is to reduce certain conditions that could be construed as onerous, and may be a
hindrance, to securing the financing that is necessary to move to the next stage of the exploration plan
at Gold Jackpot. The holder of the Agreement fully supports revising the terms in order to secure funding
that will move the project, and the Company, significantly forward. Any changes or alterations of the
Agreement are subject to approval by the CSE and specific details will be announced upon that approval
and completion or a revised document.
INCENTIVE STOCK OPTIONS GRANTED
The Company also announces the grant of 10,000,000 incentive stock options (the “Options”), pursuant
to its Stock Option Plan (the “Plan”), to directors, officers, employees, and consultants of the Company.
The Options are exercisable at a price of C$0.0 5 per common share of the Company for a period of 5
years from the date of grant. Any shar es issued upon the exercise of the Options will be subject to a
statutory four-month hold period from the date of the issuance. The Option grant is subject to regulatory
approval.
CAT CEO, Robert Rosner, stated that “The Gold Jackpot Property is, without a doubt, emerging as an
extremely interesting component of the recent lithium discovery by our neighbour, Surge Battery Metals.
We were able to stake a number of new claims to the west of our existing boundary line that extends
our property even closer to Surge’s discovery zone, as can be seen on our new area map. We also
extended our claims to the east and now share a property line with Surge on the claims they staked in
that area as well. It does appear that we staked a portion of the same ground as Surge, so this tells us
that our thinking is very similar to theirs when it comes to acquiring new exploration potential.
1010 –789 West Pender Street, Vancouver, BC V6C 1H2
Unfortunately, they go t there before us on a small number of claims, but we are very happy
nevertheless.” Mr. Rosner went on to say, “The ability for us to be able to restructure the convertible
debt instrument to afford the Company more favorable terms vis a vis securing outside financing is
extremely advantageous. The holder of the Agreement i s fully behind CAT’s efforts to do whatever it
takes to uncover the true lithium potential of Gold Jackpot , and we are happy to say we enjoy a solid
and productive relationship with a shared vision.”
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 wrote a Master’s thesis on the
Prince Mine area, and reviewed the geological information available from public sources related to the
property and is responsible for approving the technical contents of this press release. Mr. Redfern
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 lithium, tellurium, gold, silver and copper. In addition to 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 lithium , CAT has the South Preston Uran ium
Project in the Athabasca Basin of Saskatchewan, 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 . CAT's shares trade on the Canadian 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
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.