Strategic Metals Strengthens Management Team and Grants Stock Options

Rhea-AI Summary

Strategic Metals appoints Jackson Morton as Vice President, Exploration, strengthening the management team. Morton's extensive experience in mineral exploration and geology will enhance the company's project development. Additionally, the company grants stock options to key personnel, aiming to incentivize performance and align interests with shareholders.

Positive

• Appointment of Jackson Morton brings a wealth of experience in mineral exploration and geology to Strategic Metals
• Stock options granted to Directors, Officers, employees, and consultants to purchase up to 2,950,000 common shares at $0.19 per share for five years.
• Incentive stock options will vest on a quarterly basis starting three months from the grant date, aligning interests with shareholders.
• Jackson Morton's expertise in Yukon geology and project management will aid in finding potential buyers for the company's exploration projects and expanding royalty holdings.
• Strategic Metals aims to maintain a strong financial position through strategic management team additions and stock option grants.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 24, 2024 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") is pleased to announce that Jackson Morton, P. Geo. has been appointed as Vice President, Exploration. Mr. Morton has over a decade of experience managing mineral exploration programs across North America as a former principal and senior geologist with the consulting firm of Archer, Cathro & Associates (1981) Limited. A significant amount of Mr. Morton's Yukon experience has been acquired while working on Strategic projects.

Mr. Morton obtained a Bachelor of Science degree in earth sciences from Simon Fraser University in 2013 and is a registered professional geologist in British Columbia. He is the Vice President of Trifecta Gold Ltd., a technical adviser to Silver Range Resources Ltd. and the incoming chair of the Vancouver Mining Exploration Group (MEG).

"Jack has a deep knowledge of Yukon geology and considerable familiarity with Strategic's projects" states Doug Eaton, President and CEO. "He will work closely with the rest of Strategic's management team to find optionors and purchasers for our outstanding portfolio of exploration projects, maintain our strong financial position and expand our royalty holdings."

Strategic also announces that it has granted incentive stock options to Directors, Officers, employees and consultants, entitling those individuals to purchase up to a total of 2,950,000 common shares at a price of $0.19 per share for a period of five years. All options will vest on a quarterly basis commencing three months from the date of grant.

About Strategic Metals Ltd.

Strategic is a project generator with 12 royalty interests, 15 projects under option to others, and a portfolio of 85 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of approximately $1.8 million and large shareholdings in several active mineral exploration companies including 32.8% of Broden Mining Ltd., 33.4% of GGL Resources Corp., 29.6% of Rockhaven Resources Ltd., 16.2% of Silver Range Resources Ltd, 15.6% of Precipitate Gold Corp., and 15.2% of Honey Badger Silver Inc. All these companies are engaged in promising exploration projects. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc. ("Terra"), a private Delaware corporation developing a cost-effective alternative to Portland cement, which recently announced a definitive agreement with Asher Materials for an exclusive market license of Terra's first commercial-scale advanced processing facility.

ON BEHALF OF THE BOARD

"W. Douglas Eaton"

President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release does not constitute an offer of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

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.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Strategic Metals Ltd.

View the original press release on accesswire.com

FAQ

Who has been appointed as Vice President, Exploration by Strategic Metals ?

Jackson Morton has been appointed as Vice President, Exploration by Strategic Metals

How many common shares can key personnel purchase with the granted stock options?

Key personnel can purchase up to 2,950,000 common shares at a price of $0.19 per share with the granted stock options.

What is the vesting schedule for the incentive stock options?

The incentive stock options will vest on a quarterly basis starting three months from the date of grant.

What is the purpose of granting stock options to Directors, Officers, employees, and consultants?

The purpose of granting stock options is to incentivize performance and align interests with shareholders.

What is Jackson Morton's background and expertise?

Jackson Morton has extensive experience in mineral exploration and geology, with a Bachelor of Science degree in earth sciences and as a registered professional geologist in British Columbia.