Strickland Metals (STK) Investor Update summary

Project and Resource Overview

• Rogozna project in Serbia hosts four skarn-hosted gold and base metal deposits, with over 120,000m of diamond drilling completed and a total JORC 2012 Inferred Resource of 6.69 million ounces gold equivalent, with gold as the dominant metal.

• Medenovac's maiden inferred resource is 1.28 million ounces gold equivalent (41% gold, 33% zinc, 20% copper, 4% silver, 2% lead by value), based on a 1.0g/t AuEq cut-off and 80% metallurgical recovery, with 21 million tons optimized and potential to focus mining on the highest-grade 1 million ounces.

• The Rogozna project is located in a major European mining district with strong infrastructure, skilled workforce, and low operating costs.

• Mineralization at Medenovac and other Rogozna deposits remains open in multiple directions, with significant exploration upside and high-grade intercepts reported.

• Access to ore bodies is facilitated by favorable topography, allowing for cost-effective horizontal or shallow-angle underground development.

Exploration and Development Plans

• At least 50,000 meters of drilling planned in Serbia for 2024, with two-thirds focused on resource definition and one-third on exploration, and over 20 exploration targets identified across Rogozna.

• Key exploration targets include extensions at Medenovac, Kotlovi, Čezme, and porphyry systems at Jezerska Reka and Obradov Potok, with immediate plans for 4,000m at Kotlovi, 2,000m at Cesme, and 3,000m north of Medenovac.

• Gradina will see about 20,000 meters of drilling to deliver a maiden resource and is expected to be a major driver of resource growth.

• Metallurgical testwork is ongoing to optimize copper and gold recovery, with strong gold and zinc recoveries already achieved.

• Rogozna scoping study, including Medenovac, is targeted for completion by year-end to outline staged mining development.

Economic and Operational Outlook

• Project is considered highly economic, with independent mining shape constraints and strong confidence in future mine development.

• Bulk tonnage and high-grade mining scenarios are both viable, offering flexibility for future development.

• The project is well-funded with AUD 33 million or $33.8 million available and no immediate plans for a capital raise.

• Tailings management to include pastefill and dry stack solutions, minimizing environmental impact.

• Overhang from legacy shareholders is decreasing, with efforts underway to attract new investors.