Toronto, Ontario–(Newsfile Corp. – April 4, 2023) – Stratabound Minerals Corp. SB SBMIF (“Stratabound” or the “Company”) today announces the filing of a National Instrument 43-101 Technical Report (“Technical Report”) relating to its 100% owned Fremont Gold Project (the “Project”). The technical report entitled “Preliminary Economic Assessment of the Fremont Gold Project, Mariposa County, Central California, USA” (the “PEA”) dated March 31, 2023 (effective date February 15, 2023) is filed on SEDAR ( www. sedar.com) under the Company’s profile and on its website at www.stratabound.com.

Highlights:

The PEA is preliminary in nature and includes inferred mineral resources that are geologically considered too speculative to have economic considerations that would allow them to be categorized as mineral reserves and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There are no mineral reserves included in the PEA.

P&E Mining Consultants Inc. (“P&E”) was engaged in March 2022 as an independent consultant and Qualified Person to complete and draft a Mineral Resource Estimate (“MRE”) and PEA for the Fremont Gold Project in accordance with National Instrument 43-101 (“NI 43 -101”). Kappes, Cassiday & Associates (“KCA”) of Nevada has also been retained for the design, capital and operating costs for the processing plant, heap leach facility and project infrastructure.

Project description and location

The Fremont Gold Project is 100% owned by Fremont Gold LLC, a wholly owned subsidiary of Stratabound Minerals Corp., and is located in Mariposa County, California approximately 241 km east of San Francisco in the southernmost portion of the prolific California Mother Lode Gold Belt. The Project is located within the Company’s wholly owned 3,351 acre (13.56 km2) Fremont Property (the “Property”). The property contains 100% mineral, surface and groundwater rights and hosts four zones of gold mineralization and three past-producing gold mines along 4km of the Mother Lode Gold Belt. The PEA considers two of these zones, the Pine Tree/Josephine deposit and the Queen Specimen deposit, along 1.4 km of the total 4 km strike length. California State Highway 49 traverses the property from north to south and a 70 kV power transmission line traverses the property.

Next Steps

The results of the PEA show that the proposed Fremont Gold Project has technical and financial merit under the base case assumptions. It has also identified additional upside opportunities for oxide expansion and further project optimization.

The Company expects to make progress in improving the project through exploration and further drilling. The Company will continue to generate additional drill targets.

The Company expects to continue basic environmental work and to commence permitting activities which will include engineering studies and investigations for the project. The results of the studies, surveys and technical work performed for the PEA will be used to complete the permitting applications. The release of this PEA will provide significant support to the Company as it advances its public and stakeholder engagement program.

Independent Qualified Persons

This PEA was prepared for Stratabound by P&E and in accordance with the guidelines of NI 43-101. The technical content of this news release has been reviewed and approved by independent “Qualified Persons” Eugene Puritch, P.Eng., FEC, CET, and Andrew Bradfield, P.Eng. both from P&E, and Travis Manning, PE from KCA.

ABOUT STRATABOUND

Stratabound Minerals Corp. is a Canadian mineral exploration and development company developing its flagship advanced-stage Fremont Gold Project in the historic Mother Lode Gold Belt of California. The Fremont property has a NI 43-101 compliant Mineral Resource Estimate (MRE) of 1.16 million ounces Au at an average grade of 1.90 g/t Au within 19.0 million tonnes in the indicated classification plus 2.02 million ounces an average grade of 2.22 g/t Au within 28.3 million tonnes in the Inferred Mineral Resource classification. This current MRE evaluates only 1.4km of the total 4km strike length of the Fremont property, which hosts four zones of gold mineralization. The Company is also advancing its pipeline of early stage exploration projects in Canada, including the Golden Culvert, Yukon and McIntyre Brook gold projects and the Captain cobalt-copper-gold deposit in New Brunswick.

Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound and a “qualified person” as defined by NI 43-101, has reviewed and approved the contents and technical information contained in this news release.

For more information, please visit the company’s website at www.stratabound.com or contact: R. Kim Tyler, President and CEO 416-915-4157 info@stratabound.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

WARNING: The Company relies on legal protections for “forward-looking” statements. The information in this press release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those implied in the forward-looking information. Factors that could cause actual results to differ materially include, but are not limited to, inaccurate assumptions relating to the exploration and development of mineral deposits, currency fluctuations, unexpected operational or technical difficulties, changes in laws or regulations, failure to comply with governmental requirements to obtain, exchange or shareholder approval, the risks of obtaining necessary licenses and approvals, changes in general economic or financial market conditions and the inability to obtain additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company undertakes no obligation to revise or update this forward-looking information after the date of this press release or to revise such information to reflect the occurrence of future unanticipated events, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161212

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