Iran Conflict Underscores Need to Build Iron Ore Pellet Plant Capacity in North America

MONTREAL, March 12, 2026 /CNW/ - Strategic Resources Inc. (TSXV: SR) ("Strategic" or the "Company") today commented on the impact of the current conflict in Iran and the Persian Gulf on global iron ore pellet markets and the immediate need to accelerate development of pellet capacity in North America.

The Middle East, and particularly the broader Gulf region, has emerged as a strategically important hub for iron ore pellet production and export over the past decade, supplying a meaningful share of global seaborne pellet trade to DRI and steel producers in Europe, the Middle East and Asia. Disruptions to shipping routes and energy markets in the region are tightening already constrained pellet and high‑grade iron ore balance and introducing new volatility for steelmakers advancing decarbonization strategies.

"The conflict in the Gulf is a clear reminder that concentrating a large portion of the world's iron ore pellet supply in one geopolitically sensitive region creates real risk for steel producers and their customers," said Sean Cleary, Chief Executive Officer of Strategic Resources. "If we want reliable access to high‑quality pellets to support low‑carbon steelmaking, we need to build more capacity in stable, resource‑rich jurisdictions like Canada and the rest of North America."

Strategic Resources Port of Saguenay iron ore pellet project, commonly known as the BlackRock Project, represents the most advanced, lowest‑carbon, and strategically located new pellet capacity in North America. Phase 1 of the BlackRock Project will deliver 4 million tonnes per year of high-quality iron ore pellets reshoring critical supply for North American and European steelmakers. Powered by Quebec's hydroelectric grid and uniquely connected to a competitively priced natural gas pipeline, this investment will directly reduce dependence on vulnerable seaborne routes, enhance supply-chain resilience, and position North American and European steelmakers to compete in a tightening global market for clean energy aligned feedstocks.

The BlackRock Project is currently progressing through the provincial environmental authorization amendment process – see the Company's press release dated February 25, 2026 for more information.

"Our proposed four‑million‑tonne pellet plant at Port Saguenay is exactly the type of asset the market needs right now," Mr. Cleary added. "It is designed to provide long‑term, reliable pellet supply from a stable jurisdiction, leveraging clean energy and natural gas to support lower‑carbon iron and steel producers in Canada, the United States and Europe. The current situation in the Gulf only strengthens the strategic rationale for bringing this kind of capacity online."

Strategic Resources believes that building out pellet capacity in Canada and across North America is essential to strengthening supply security, reducing dependence on geopolitically exposed regions and enabling the steel industry's transition to lower‑carbon technologies. The Company is positioning itself to be a key supplier of iron ore pellets at a time when global demand for clean, reliable, and regionally secure iron units is accelerating.

About Strategic Resources

Strategic Resources (TSXV:SR) is a critical mineral development company focused on vanadium, high-purity iron and titanium; metals needed to decarbonize the global economy. Our main projects are the construction-ready BlackRock Project in Quebec and the previously operated Mustavaara mine in Finland. Phase 1 of the BlackRock Project envisages a 4 million tonne per year high-purity iron ore pelletizer at Port Saguenay, Quebec with full access to the St. Lawrence Seaway. The Company's Head Office is in Montreal, Québec.

Further details are available on the Company's website at https://strategic-res.com/. To follow future news releases, please sign up at https://strategic-res.com/contact/.

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STRATEGIC RESOURCES INC.
Signed: "Sean Cleary"
Sean Cleary, CEO

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Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved.

Although management of the Company believes that the assumptions made and the expectations represented by all forward-looking statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. Strategic does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE Strategic Resources Inc.

Alexandre Meterissian, VP ESG & Communications, [email protected]