About Strategic Metals

Strategic Metals Ltd. acquires, explores for, and evaluates mineral properties in Canada. The company’s mineral property interests include various exploration stage properties located in the Yukon Territory, British Columbia, Nunavut and the Northwest Territories, Canada, and include the mineral properties of its subsidiaries. Wholly-owned Projects Alotta Project The Alotta project is located in the Whitehorse Mining District, Yukon Territory. During the year ended December 31, 2020, the company was approved to receive financial assistance from the Yukon Government on qualified exploration expenditures on this project. CD Project The CD project claims are located in the Whitehorse Mining District, Yukon Territory and include the Shamrock claims, which are subject to a 2% precious metal net smelter returns royalty (NSR) and a 1% non-precious metal NSR from any commercial production from the claims. Green Gulch Project By agreement dated April 26, 2019 with Arcus Development Group Inc. (Arcus), the company acquired a 100% interest in the Green Gulch Property, including a series of quartz mining claims located in the Dawson Mining District, Yukon Territory. As consideration for the claims, Arcus retains a 0.5% NSR from any commercial production, with the company having the right to purchase the NSR. Midas Touch and Hat Projects By agreement dated April 5, 2018, the company purchased the STW and Hat claims. The STW claims form part of the Midas Touch project, which is located in the Mayo Mining District, Yukon Territory. The Hat claims are a standalone project and are located in the Dawson Mining District, Yukon Territory. Oli Project The Oli project is located in the Whitehorse Mining District, Yukon Territory. During the year ended December 31, 2020, the company was approved to receive financial assistance from the Yukon Government on qualified exploration expenditures on this project. Tombstone 2 Project The Tombstone 2 project included the Mount Hinton and Plata-Inca projects, and the Nels, News, Naws, Lance, and Lois claims, located in the Tombstone Gold Belt of central Yukon Territory. The Mount Hinton and the Plata-Inca projects are separate projects and the other Tombstone properties are included in the Lansing project. Triple Crown The Triple Crown project consists of a 100% interest in the Triple Crown mineral claims located in the Dawson Mining District, Yukon Territory. Van Project The Van project consists of a 100% interest in the company’s Van property located in the Northwest Territories. Vanderhoof Copper Project The Vanderhoof Copper project consists of a 100% interest in the Kenny Dam and Tagai properties located in northern British Columbia, acquired under an option agreement. Others The newly acquired and staked Piper and Taffy claims located in British Columbia are subject to a 1% NSR on any commercial production from the claims. Wholly-owned and Under Option/Sold Projects Batt Project In 2018, the company signed an agreement to option approximately 80% of its Batt mineral claims located in the Whitehorse Mining District, Yukon Territory, to Golden Peak Minerals Inc., which subsequently changed its name to Bluebird Battery Metals Inc. (Bluebird). The exploration expenditure requirement was not met, and in May 2020, the option agreement with Bluebird was terminated. Dawson Project The Dawson project is located in the Dawson Mining District, Yukon Territory, and consists of claims, which are whollyowned, and the Sixty Mile property, which is being acquired under an option agreement dated June 11, 2018 (the ‘Original Option Agreement’). Sixty Mile Property: In February 2020, the company signed a property option and assignment agreement (the ‘Assignment Agreement’) with a private Calgary based company (Priveco), whereby Priveco has the option to earn a 100% interest in the company’s Sixty Mile property. Pursuant to the Assignment Agreement, Priveco would be required to make the Annual Payments. Clint and Magnum Claims: In February 2020, the company signed an option agreement with Priveco, whereby Priveco has the option to earn a 100% interest in the company’s Clint and Magnum claims (forming part of the Dawson project located in the Dawson Mining District, Yukon Territory). Pursuant to the option agreement, Priveco has the right to earn the 100% interest in the claims by making cash payments to the company. GK Project: The GK project claims are located in northern British Columbia. In May 2019, the company entered into an option agreement with 1193490 B.C. Ltd., which subsequently changed its name to Artemis Gold Inc. (Artemis), whereby Artemis has the right to acquire a 100% interest in the company’s GK project for cash consideration and the requirement for Artemis to incur exploration expenditures, over five years. Kluane Project: The Kluane project is located in the Whitehorse Mining District, Yukon Territory, and consists of claims, which are wholly-owned, and the Swede Johnson and Kelli-Reed properties, which are being acquired under separate option agreements, both dated May 10, 2018. M’Clintock Project: The M’Clintock project claims are located in the Whitehorse Mining District, Yukon Territory. In February 2020, the company signed an option agreement with Priveco, whereby Priveco has the option to earn a 60% interest in the company’s Hartless Joe claims (forming part of the M’Clintock project). Pursuant to the option agreement, Priveco has the right to earn the 60% interest in the claims by incurring exploration expenditures on the claims. Rancheria Silver Project: In June 2020, the company signed a property option agreement with CMC Metals Ltd. (CMC Metals), whereby CMC Metals has the option to earn approximately a 100% interest in the company’s Blue Heaven property (forming part of the Rancheria Silver project) located in the Watson Lake Mining District, Yukon Territory. To earn an initial 80% interest (the ‘First Option’), CMC Metals is required to make cash payments. Saloon Project: In November 2020, the company signed a property option agreement with Cypress Hills Resources Corp. (Cypress), whereby Cypress has the option to earn approximately an 80% interest in the company’s Saloon project located in the Whitehorse Mining District, Yukon Territory. Pursuant to the option agreement, Cypress has the right to earn the 80% interest in the project. Royalty and Other Interests NiMo Project The NiMo project consists of a remaining 25% interest in certain mineral claims located in the Mayo and Dawson Mining Districts, Yukon Territory. Strategy The company’s strategy is to advance its mineral properties to a drill-ready stage and then option or sell them to other parties.