Mineral Resource Estimate On Fremont Gold Project

TORONTO - Stratabound Minerals Corp. reported on the NI 43-101 Mineral Resource Estimate for the Fremont Gold Project in California's Mother Lode Gold Belt resulting in increases in both Indicated and Inferred Mineral Resource classifications. Highlights of the 2022 updated MRE include: Indicated Mineral Resource increased by 121% to 1,163,000 oz Au (19,011 kt at 1.90 g/t Au); Inferred Mineral Resource increased by 348% to 2,024,000 oz Au (28,323 kt at 2.22 g/t Au); Pit Component (pit-constrained) consists of 1.15 M oz Au Indicated (18,891 kt at 1.90 g/t Au) and 1.49 M oz Au Inferred (22,507 kt at 2.06 g/t Au) Mineral Resource classifications; and Underground Component (out-of-pit) consists of 9 k oz Au Indicated (121 kt at 2.21 g/t Au) and 536 k oz Au Inferred (5,816 kt at 2.87 g/t Au) Mineral Resource classifications. The updated MRE replaces the Company's previous mineral resource estimate which extended along 960 meters of strike, 350 meters below surface and included only the Pine Tree/Josephine open pit component. The updated MRE now extends along 1,400 meters of combined strike length and up to 600 meters below surface as it additionally includes the satellite Queen Specimen open pit plus the Pine Tree/Josephine underground components. Historical mining commencing in 1849 subsequent to the California Gold Rush at the Pine Tree/Josephine underground mines extended across 800 meters of strike, 600 meters vertical depth and produced 126 k oz of gold in 540 k tons, (8.0 g/t gold) at the historical gold price of US$35 per ounce before closing in 1944. The updated MRE is based on 33,982 meters of drilling, 518 meters of trench sampling, and 5,760 meters of underground channel sampling.

R. Kim Tyler, President and CEO, said, "This updated Fremont MRE provides a solid foundation from which the Company can advance towards completing a Preliminary Economic Assessment (PEA) and developing this gold project towards a production decision. The project is enhanced over the previous Mineral Resource Estimate by the inclusion of the Queen Specimen and underground component of the Pine Tree/Josephine deposit; however, this only evaluates 1.4 km of the entire 4-km strike length of the Fremont Property that features four gold-mineralized zones and a recently announced 285-meter wide, 30-5,210 ppb gold averaging 412 ppb gold-in-soil anomaly connected over all the zones across the full extent of the Property."

Pit-constrained Mineral Resources are reported using a cut-off grade of 0.25 g/t Au for oxide material, and 0.45 g/t Au for sulphide material. Out-of-Pit (underground) Mineral Resources are reported using a cut-off grade of 1.45 g/t Au. Underground Mineral Resources have been constrained within potentially mineable longhole shapes based on block grade and continuity. Historical mining has been depleted from the updated Mineral Resource Estimate by assigning a zero-volume percentage block inclusion for known areas of mining and development.

The advancement of the Fremont Gold Project includes ongoing technical studies and economic analyses for a Preliminary Economic Assessment (PEA), mine permitting, and engagement with the community and all stakeholders.

The PEA will provide an evaluation of preliminary Project components and alternatives, including an economic analysis of the potential viability of the updated Mineral Resource Estimate. The ongoing studies that lead to Stratabound's PEA will evaluate various mining scenarios that will consider the environmental and socioeconomic impact of the Project for all stakeholders. The PEA will allow Stratabound to explore and reveal the potential of this Project.

The Company continues to work with its environmental consultants to develop a plan for permitting the Project. The Company reports that its baseline environmental program is progressing including biological studies, surface water and monitoring groundwater wells for routine sampling. Other planned evaluations for the permitting strategy will necessarily consider mine design, processing, and reclamation plan development.