Sterling Metals Corp. announced that, further to its press release dated March 6, 2023, the Company has obtained approval from the TSX Venture Exchange with respect to the option agreement (the "Agreement") dated March 3, 2023 with Chesterfield Resources Plc. ("Chesterfield") and its wholly owned subsidiary Chesterfield (Canada) Inc. pursuant to which SAG has been granted the exclusive option to acquire a 100% interest in the Adeline Copper-Silver Project located in Labrador, Canada.

Comprised of roughly 30,000 hectares and a 44 km strike of copper-silver-rich terrain, the Adeline project is located in Labrador, Canada, close to road, rail, and power infrastructure and within 500 km of the Sail Pond project, allowing for strong economies of scale for exploration. Possessing a robust early-stage exploration database including regional airborne magnetics, ground Induced Polarization (IP), extensive geological mapping and over 250 surface samples assaying as high as 26.9% copper (Cu), Adeline exhibits strong geological comparisons with preferred epigenetic sediment-hosted copper deposits such as Udokan (estimated reserves of 1.2 Bt at 2% Cu). In addition to the land package, the Project has a pipeline of exploration targets at different stages of development including two drill-ready targets at two key prospects, one of which has returned an encouraging intercept of 1.76% Cu and 58.2 g/t Ag over 7.9 m on the edge of a large chargeability anomaly (2011, Playfair hole SL-11-10).