Strickland Metals Delivers 5.3 Million Ounce Gold Resource at Shanac

Massive Mineral Resource Expansion Solidifies European Position

Strickland Metals has delivered an impressive mineral resource update at its Shanac deposit, revealing an Inferred Resource of 150 million tonnes at 1.1g/t gold equivalent (AuEq) for 5.30 million ounces of gold equivalent. This update brings the total Rogozna Project resource to 7.40 million ounces AuEq, reinforcing the company's position in one of Europe's most promising mining jurisdictions.

The Shanac resource includes a higher-grade component of 32 million tonnes at 1.8g/t AuEq for 1.85 million ounces, providing potential flexibility for future mining options. Gold and copper account for approximately 75% of the contained metal value, with zinc, lead, and silver comprising the remainder.

Resource Breakdown by Metal:

• 3.09 million ounces of gold
• 180,000 tonnes of copper
• 28.0 million ounces of silver
• 360,000 tonnes of lead
• 510,000 tonnes of zinc

The deposit features remarkable continuity, with 15,000 AuEq ounces per vertical meter over a 300-meter vertical extent through the core of the deposit, starting just 40 meters below surface.

Understanding Sub-Level Cave Mining: A Key to Shanac's Development

The Shanac resource update incorporates constraints based on potential sub-level cave underground mining methodology, which is significant for investors to understand.

Sub-level cave mining is a bulk underground mining method suited for large, low-to-medium grade deposits like Shanac. This approach offers several advantages over open-pit mining, including lower surface disturbance, potentially lower capital costs, and the ability to mine deeper portions of orebodies.

The method works by developing horizontal tunnels (sub-levels) at regular vertical intervals throughout the orebody. Drilling and blasting occurs upward from these sub-levels, allowing ore to cave naturally under gravity. The fragmented ore is then collected from drawpoints at the base of each level.

For investors, this is important because Strickland's resource model assumes operating costs of approximately US$35 per tonne, with 80% metallurgical recovery and a 0.6g/t AuEq cut-off grade. These parameters are industry-standard for this type of deposit and mining method, suggesting the company is taking a realistic approach to resource estimation.

Accelerated Development Timeline

Strickland Metals has outlined an ambitious near-term development strategy for the Shanac deposit:

1. 6,000-meter drilling program in 2025 focused on:

   • Expanding recently discovered high-grade gold skarn volumes
   • Testing the prospective Andesite/Skarn contact on the western side
   • Improving understanding of higher-grade zone distribution and continuity

2. Advanced metallurgical testing to:

   • Optimize metal recoveries
   • Finalize processing flowsheet
   • Determine operating expenses and concentrate payabilities

3. Mine development studies evaluating:

   • Bulk versus selective underground mining methods
   • Infrastructure requirements
   • Capital expenditure parameters

4. Environmental and social impact assessments to:

   • Continue and expand baseline studies
   • Demonstrate responsible and sustainable development pathways

These activities will contribute to a comprehensive Rogozna Project scoping study expected by the end of 2025.

Significant Upside Potential Remains

The current Shanac resource appears to be just the beginning, with the deposit remaining open along strike and at depth. Previous drilling has identified high-grade gold-only intercepts to the north that haven't been properly followed up, including:

• 8.0 meters at 7.4g/t Au from 327.5 meters (ZRSD20126)
• 9.0 meters at 3.0g/t Au from 415.0 meters (EOKSC1246)

Additionally, the Red Creek Prospect located 500 meters west of Shanac shows promising surface geochemical anomalies, historical workings, and IP chargeability anomalies that warrant further investigation.

Rogozna Project: A Tier-One Asset in a Proven Mining Jurisdiction

The Rogozna Project sits at the heart of one of Europe's largest base metal mining centres in Serbia, which offers several key advantages:

• Highly prospective geology within the Western Tethyan Belt
• Europe's second-largest copper producer
• Established mining industry with major players like Zijin, BHP, Rio Tinto, and Dundee Precious Metals active in-country
• Recently executed MOU with European Union for critical minerals supply
• Modern mining code with favourable fiscal regime
• Highly-skilled workforce and excellent infrastructure

The broader Rogozna Project features four skarn-hosted gold and base metal deposits defined by over 120,000 meters of diamond drilling, with three of these deposits contributing to the current 7.4Moz AuEq resource. The project also includes an extensive exploration pipeline with more than 20 additional targets.

Why Investors Should Track Strickland Metals

Strickland Metals has positioned itself as an emerging gold and base metals developer with several compelling investment attributes:

1. Scale and Growth Trajectory: With 7.4 million ounces of gold equivalent resources already defined and multiple resource upgrades expected throughout 2025, Strickland offers significant leverage to resource expansion.

2. Diversified Metal Exposure: The Rogozna Project provides exposure to gold, copper, zinc, lead, and silver, offering a natural hedge against metal price fluctuations.

3. Strategic European Location: As Europe seeks to secure domestic supply chains for critical minerals, Strickland's Serbian project provides a strategic advantage in accessing European markets.

4. Well-Funded Position: With $33.8 million in funding, the company is fully financed to execute its ambitious 50,000-meter drilling program and advance through key development milestones.

5. Experienced Team: The company has assembled a team with proven expertise in resource development and mining operations.

Strickland Metals represents a compelling opportunity for investors seeking exposure to a rapidly advancing gold and base metals project with exceptional scale potential in a stable European jurisdiction. With a clear pathway to significant value creation and multiple near-term catalysts, including ongoing drilling results and a scoping study by year-end, Strickland warrants close attention from resource-focused investors.

Ready to Tap Into Europe's Next Major Gold & Base Metals Story?

Discover how Strickland Metals' rapidly expanding Rogozna Project could deliver significant shareholder value through its impressive 7.4Moz AuEq resource base and ambitious development plans in a strategic European jurisdiction. With a fully-funded drilling programme and multiple catalysts on the horizon, now is the ideal time to take a closer look at this compelling investment opportunity. Visit Strickland Metals' website to learn more about their gold and base metals projects and register for investor updates.