Vancouver, BC September 17, 2020 CAT Strategic Metals Corporation (CSE: CAT) (“CAT” or the “Company“) announces that it has entered into an option agreement (the “Agreement”) pursuant to an arm’s length negotiation with the vendors (the “Vendors”) dated September 10, 2020. The Agreement gives the Company the exclusive right to acquire up to a 100% undivided ownership in the Burntland mineral property (the “Property”) over a 4 year period from the closing date. The Property is comprised of ~1,200 hectares located approximately 60 Km Northeast of Saint Quentin in the county of Restigouche, New Brunswick, Canada.

As part of the Agreement, the Company will issue 25,000,000 common shares to the Vendors and incur exploration and development expenditures on the Property necessary to maintain the minerals claims in good standing during the option period of 4 years.

The Company will also make payments totalling $1,000,000 to the Vendors as set forth below. The Company retains the right to pay up to half of each scheduled payment in common shares of the Company, such calculation based on the Volume Weighted Average Price (VWAP) of the Company’s shares over the previous 20 trading day period.

1. $250,000 due 12 months from the Closing Date;
2. $250,000 due 24 months from the Closing Date to acquire an earned-in interest of 51% (the First Option);
3. $250,000 due 36 months from the Closing Date to acquire an additional earned-in interest of 24%, for a total 75% interest in the Property (the Second Option); and
4. $250,000 due 48 months from the Closing Date to acquire an additional earned-in interest of 25%, for a total 100% interest in the Property (the Third Option)

In addition to the foregoing, the Company will also grant to the Property’s Vendors a Net Smelter Return Royalty (NSR) equal to 2.0% resulting from the extraction and production of any mineral products on the Property.

The Company may withdraw from the Option Agreement at any time upon providing a written notice to the Vendors at least 120 days prior to the expiration of the mineral claims comprising the Property. This transaction is subject to regulatory approval.

• The Burntland Property

Figure 1: Map of Burntland property

Grab & chip sample results from a recently excavated 90-meter-long trench (2020 BRNT 1) exposed an interval of ~10 meters of mineralized, veined, hornfelsed/skarnified argillite-carbonate (Whitehead Formation), and ~2-4-meter porphyry dykes that transition into laterally extensive porphyry. This porphyry is tentatively equated with the Mackenzie Gulch Porphyry. The latter Porphyry is related to the Legacy Skarn deposit (~4.5 km North) discovered by Copperfields M. Co. in the 1970’s. Assay results from grab samples in  the altered-sediment-porphyry dyke portion of trench 2020 BRNT 1 on the Burntland property returned an average of 1.67% Cu, 39.3 g/t Ag (n=27)

Figure 2: Location of 2020 BRNT 1 trench (star) with respect to the Burntland Property. Also shown as representative samples from several areas of the trench, showing a gradation from skarnified wallrocks into laterally extensive porphyritic rocks. Note significant malachite staining as well as fresh chalcopyrite.

Figure 3: Burntland trench assay results and locations along the 2020 BRNT 1 trench, showing well distributed mineralization across the trenching area.

Figure: Selected best Ag & Cu results from 2020 BRNT 1 trench

Figure 4: Assay results with sample locations and Au, Ag, Cu, and Zn results.

Robert Rosner, Chairman and CEO of CAT, stated: “Our initial site visits were highly constructive and encouraging. The Copper and Silver results so far illustrate the type of values the Burntland Property could continue to deliver. The Company is also looking forward to testing numerous geophysical targets that have been identified.”

Analyses were completed at AGAT Laboratories’ Mississauga Ontario facility. Gold (Au) results were determined by Fire Assay with an ICP-OES finish. Silver (Ag) Copper (Cu), and Zinc (Zn) results were determined by Sodium Peroxide Fusion with an ICP-OES/ICP-MS finish.

Mr. Kelly Malcolm, P.Geo (Ontario), is the qualified person as defined by National Instrument 43-101 who has examined and reviewed the recent NI 43-101 report and geological information available from public sources related to the property, and is responsible for approving the technical contents of this press release. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regard to the neighbouring Legacy Skarn deposit.

ON BEHALF OF THE BOARD

Robert Rosner

Chairman, President & CEO

Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by contacting the Company directly at (604) 674-3145.

This news release may contain forward–looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Particular risks applicable to this press release include risks associated with planned production, including the ability of the company to achieve its targeted production outline due to regulatory, technical or economic factors. In addition, there are risks associated with estimates of resources, and there is no guarantee that a resource will have demonstrated economic viability as necessary to be classified as a reserve. There is no guarantee that additional exploration work will result in significant increases to resource estimates

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