Strategic Resources Signs High Purity Iron Ore Supply and Offtake Agreements with Javelin Global Commodities along with a US$150 Million Working Capital Facility

MONTREAL, Nov. 25, 2024 /CNW/ - Strategic Resources Inc. (TSXV:SR.VN) (the "Company" or "Strategic") is pleased to announce that it has signed definitive agency agreements (the "Offtake Agreements") with Javelin Global Commodities (SG) PTE Ltd, a subsidiary of Javelin Global Commodities ("Javelin") to procure approximately four million tonnes of direct reduction ("High Purity Iron" or "DR") grade iron ore concentrate and sell up to four million tonnes a year of DR grade iron pellets from Strategic's planned High Purity Iron pelletizer facility at Port Saguenay, Québec (the "Project" or "Plant"). Along with these agreements, Javelin and Strategic have signed an indicative term sheet for Javelin to provide a secured working capital facility up to US$150 million to support the operations of the Plant.