Strategic Metals Ltd. Announces Acquisition of Control and Direction of Additional Securities of GGL Resources Corp.

Strategic Metals Ltd. acquired an additional 1,000,000 post-consolidated shares of GGL Resources Corp. on October 21, 2026. The transaction increased Strategic's ownership stake in GGL from 30.35% to 32.92% of issued and outstanding common shares.

The acquisition was executed pursuant to the Property Option Agreement dated July 20, 2026. Under the terms of the agreement, GGL holds the right to earn up to a 100% interest in Strategic's Hopper, Kluane, Batt, and Moraine mineral properties located in southwestern Yukon. An Early Warning Report regarding the transaction was filed with the BC and Alberta Securities Commissions.

Strategic Metals Ltd. (SMD) confirmed the procedural execution of the share issuance component of the GGL option agreement, which was previously announced in July 2026 and approved by shareholders in August 2026. The transaction aligns exactly with the disclosed earn-in structure and does not introduce new financial terms, exploration commitments, or strategic pivots.

The increase in GGL stake is a direct consequence of the option agreement's terms and reflects the ongoing monetization of Strategic's Yukon portfolio. No material change to the company's cash position, debt profile, or immediate operational outlook is triggered by this share acquisition. The market has already incorporated the GGL deal and the associated 4-for-1 share consolidation into the stock price, limiting incremental upside from this specific filing.

Strategic Metals Ltd. (SMD) operates as a project generator with a portfolio comprising over 70 wholly owned projects, 28 royalty interests, and eight projects under option to third parties across Yukon, northern British Columbia, and the Northwest Territories. The company’s strategy centers on early-stage acquisitions, building a diversified royalty portfolio, and monetizing mature assets through options and sales while retaining equity stakes and NSR royalties.

The firm’s flagship asset is the Division Mountain coal project, which hosts a measured resource of 52.5 million tonnes of high volatile "B" bituminous coal. A Preliminary Economic Assessment released in August 2026 outlined a 100 MW coal-fired power plant capable of generating electricity at $0.20/kWh, targeting a 30-year mine life. Other key projects include the Hopper copper-gold skarn/porphyry system, the Harry tungsten-tin-molybdenum skarn target, and the CD copper-gold porphyry property.