Teslin, Yukon Territory – October 24, 2022 – Teslin Tlingit Council (“TTC”) and Strategic Metals Ltd. (TSX-V: SMD) (“Strategic”) are pleased to announce the signing of the Access and Exploration Agreement.

The Agreement aims at improving communication between Strategic and TTC as well as developing a respectful relationship based on cooperation and responsible exploration activities on TTC’s Traditional Territory in the Yukon. This Agreement also provides a framework for consultation for all exploration activities undertaken by Strategic on TTC Traditional Territory in the Yukon except for TTC’s Settlement Land.

“TTC and Strategic have a long history of working together. This Agreement formalizes our commitment to cooperation and early consultation. It sets the bar as to how mining companies should work and engage with First Nation governments. We expect no less from all exploration and mining companies who want to do business on our Traditional Territory,” stated Naa Sháade Háni Eric Morris.

“Strategic has undertaken to engage with TTC as soon as claims are acquired in order to develop cooperative and respectful relationships, identify local business and employment opportunities, and build support for mineral exploration and development. The ongoing consultation should make Strategic more aware of TTC concerns and give TTC a better understanding of preferred exploration techniques and their alternatives,” states Douglas Eaton, President and CEO of Strategic. “This Access and Exploration Agreement provides a clear framework for early stage consultation, and a path forward to develop a more comprehensive cooperation and benefits agreement, should a project move from exploration to economic evaluation.”

Other key objectives of the Agreement include:

• providing business and employment opportunities to TTC, Citizens and TTC businesses;
• establishing environmental monitoring mechanism to oversee exploration activities;
• establishing a committee composed of the Parties to discuss matters related to exploration and oversee the implementation of the Agreement; and,
• setting a framework for long term consultation as well as the negotiation of a more comprehensive project specific agreement if exploration activities are successful.

Strategic currently holds 6 projects within the TTC Traditional Territory in the Yukon including the Hidden and Obvious Tungsten projects, the Byng and Grayling Gold projects, and the Con and Convert Silver-lead-zinc projects. Consultation is expected to begin at the earliest stages of exploration and continue throughout the duration of the projects.

For further information contact:

Communications Coordinator
Teslin Tlingit Council
867.390.2532 ext. 306
Email: lands.reception@ttc-teslin.com

Corporate Information
W. Douglas Eaton
President and C.E.O.
Strategic Metals Ltd.
Tel: (604) 688-2568

Investor and Media Inquiries
Richard Drechsler
V.P. Communications
Strategic Metals Ltd.
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com

• News Release