Sasquatch Resources Corp. announced that it has executed a framework agreement with Sulphide Remediation Inc. ("SRI") dated as of June 20, 2024 (the "Framework Agreement") respecting sorting and processing of waste rock found at Sasquatch's Mount Sicker Property in southern Vancouver Island, British Columbia, and the reclamation/remediation of the Property (collectively, the "Project"). As previously reported by Sasquatch, an independent engineering firm visited the Mount Sicker Property and concluded that small-scale processing of the waste-rock was potentially profitable.

Under the Framework Agreement, Sasquatch and SRI have agreed to split net profits from the Project on a 50/50 basis. SRI will be responsible for all capital costs for the Project, including all required capital equipment, and for providing ongoing technical advice and assistance respecting the Project. Sasquatch will be responsible for all Project costs respecting mineral claim maintenance, permitting costs and Property reclamation/remediation costs.

Sasquatch will be the operator for the Project, with all technical Project operations being coordinated with SRI. With the Framework Agreement now executed, SRI will prepare a detailed study respecting the Project (the "Project Study"), which will include but not be limited to: (a) a reasonably comprehensive financial model for the Project based on all available information; and (b) potential plans and options for off-take /toll processing of all materials derived from the Project. provided that the Project Study confirms that the Project will result in reasonable net profits for both parties, SRI and Sasquatch will negotiate, execute and deliver a more comprehensive agreement respecting the Project (the " Project Agreement"), which will be based on the terms of the Framework Agreement and will provide greater detail respecting the Project, Project operations and decision-making, Project accounting and determination of net profits from the Project.

As a part of the Project Study, Sasquatch has already randomly collected and sent approximately 500kg of waste-rock for an initial test run. Sampled material will be crushed and screened to between 10mm and 65mm, and then run through a Tomra Duoline Transmission mobile sorting unit, which uses density, X-ray and artificial intelligence to sort higher grade rocks from low-grade or no-grade rocks. Results are expected shortly, and Sasquatch will provide an update respecting the initial test run in due course.

If the Project proceeds, waste-rock on the Property would be processed using a mobile crushing and sorting unit, with higher-grade material containing copper, gold, silver, zinc and lead shipped off-site for further processing. The site would then be reclaimed in consultation with local government and First Nations. The Company has already had an initial meeting with representatives from the Ministry of Energy, Mines and Low Carbon Innovation, and intends to submit a "Project Description", which will outline the key components of the proposed Project, including a schedule, description of proposed works and activities, anticipated permitting requirements and implications of the proposed Project to the environment, worker health and safety, and First Nations (including socio-economic and cultural impacts) in the near future.

The Company is also actively consulting with affected local First Nations.