StrikePoint Completes Sale of Porter Idaho Project to Dolly Varden Silver

Vancouver, May 23, 2025 - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that further to its news release dated May 8, 2025, it has completed the sale of the Porter Idaho Project to Dolly Varden Silver Corp. ("Dolly Varden").

StrikePoint completed the sale of the Porter Idaho Project to Dolly Varden for consideration of $1,100,000, which was satisfied through the issuance of 295,699 common shares in the capital of Dolly Varden at a deemed price of $3.72 per share.

Michael G. Allen, President and CEO of StrikePoint said, "The sale of this non-core asset to Dolly Varden allows us to focus on our gold projects in Nevada's Walker Lane. We recently completed a successful spring drill program on the Hercules Gold project with all holes returning significant gold grades. Near surface oxide gold deposits in Tier 1 jurisdictions are increasingly rare, but recent exploration successes in the Walker Lane have highlighted the potential of this part of Nevada."

For further information on recent drilling on the Hercules Gold Project, please refer to the Company's May 5, 2025 new release.

About StrikePoint

Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.

Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire to Coeur Mining for approximately $120 million. The Sterling Gold Project is now part of AnglogGold Ashanti's "Expanded Silicon" project. In addition, Mr. Allen was the past President and CEO of Elevation Gold Mining Corp., which operated Arizona's largest gold mine.

The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering.

StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.

Cautionary Statement on Forward-Looking Information

Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253178