StrikePoint Gold Inc. — Management Reports 2025

May 28, 2025

STRIKEPOINTGOLD
TSX.V: SKP | OTC: STKXF

Management’s Discussion & Analysis

For the Three Months Ended March 31, 2025 and 2024

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024
STRIKEPOINT GOLD
TEK.V.SKP | OTC STICK

Table of Contents

MANAGEMENT DISCUSSION AND ANALYSIS ... 2
CORPORATE OVERVIEW ... 2
COMPANY OUTLOOK AND RECENT CORPORATE DEVELOPMENTS ... 2
SUBSEQUENT EVENT ... 3
EXPLORATION AND EVALUATION PROJECTS ... 3
CONSOLIDATED FINANCIAL RESULTS ... 5
LIQUIDITY, CAPITAL RESOURCES AND CAPITAL MANAGEMENT ... 6
OFF-BALANCE SHEET ITEMS ... 7
OUTSTANDING SHARE INFORMATION ... 7
QUARTERLY INFORMATION ... 8
SELECTED ANNUAL INFORMATION ... 8
COMMITMENTS AND CONTINGENCIES ... 8
RELATED PARTY TRANSACTIONS ... 9
PROPOSED TRANSACTIONS ... 9
RISK FACTORS ... 9
CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS ... 9
RECENT ACCOUNTING PRONOUNCEMENTS AND MATERIAL ACCOUNTING POLICY INFORMATION ... 10
FINANCIAL INSTRUMENTS ... 10
CONTROLS AND PROCEDURES ... 10
QUALIFIED PERSON ... 11
FORWARD-LOOKING STATEMENTS ... 11

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEX V. SKP
OTG STKXF

MANAGEMENT DISCUSSION AND ANALYSIS

This Management Discussion and Analysis ("MD&A") of StrikePoint Gold Inc. (the "Company" or "StrikePoint"), has been prepared by management and approved by the Board of Directors as of May 27, 2025 and contains information that management believes is relevant to an assessment and understanding of the Company's financial position and the results of its operations and cash flows for the three months ended March 31, 2025 and 2024.

This MD&A should be read in conjunction with the unaudited condensed consolidated interim financial statements for the three months ended March 31, 2025 and 2024, which are prepared in condensed format in accordance with International Financial Reporting Standards ("IFRS") as applicable to the preparation of the interim financial statements, including International Accounting Standard ("IAS") 34, Interim Reporting. The unaudited condensed consolidated interim financial statements should also be read in conjunction with the audited consolidated financial statements for the years ended December 31, 2024 and 2023.

Additional information, including this MD&A, the Company's most recently filed Annual Information Form ("AIF"), the unaudited condensed consolidated interim financial statements for the three months ended March 31, 2025 and 2024, the audited consolidated financial statements for the years ended December 31, 2024 and 2023, press releases, and other corporate filings are available on the SEDAR website, www.sedarplus.ca, and the Company's website, www.strikepointgold.com.

This MD&A contains forward-looking statements and should be read in conjunction with the risk factors outlined in the Risk Factors and Forward-Looking Statements sections. This MD&A provides management's analysis of historical financial and operating results and provides estimates of the Company's future financial and operating performance based on information currently available. Actual results will vary from estimates and variances may be significant. Readers should be aware that historical results are not necessarily indicative of future performance.

All dollar amounts in this MD&A are expressed in Canadian dollars ("$") unless otherwise noted. References to "US $" are to the United States dollar.

CORPORATE OVERVIEW

StrikePoint is an exploration-stage company engaged in the acquisition, exploration and development of mineral properties of merit in Canada and the United States of America ("US") with the aim of developing them to a stage where they can be exploited at a profit or arranging joint ventures whereby other companies provide funding for development and exploitation. The Company's head office is located at Suite 3123 - 595 Burrard Street, PO Box 49139, Vancouver, BC, V7X 1J1. The registered address and records office of the Company is located at 1111 West Hastings St., 15th Floor, Vancouver, BC, V6E 2J3. StrikePoint trades on the TSX Venture Exchange under the trading symbol "SKP" and on the OTCQB in the United States under the symbol "STKXF".

COMPANY OUTLOOK AND RECENT CORPORATE DEVELOPMENTS

The Company will continue to acquire, explore, and develop precious metal projects in top tier jurisdictions with the goal of creating shareholder value. The Company will continue to investigate and review projects of merit focusing on gold and precious metal projects located in the US and Canada with a view of growing StrikePoint's portfolio and profile.

Most recently in August 2024, StrikePoint acquired the Hercules Gold Project. The Hercules Gold Project consists of 1,323 unpatented mining claims and four patented mining claims covering approximately 100 square kilometers of prospective Walker Lane geology located approximately one hour from Reno, Nevada. The property is just 20 kilometers East of the Comstock Gold Mine where historically 14 million gold ounces have been recovered. During the three months ended March 31, 2025, the Company completed its initial drilling campaign at Hercules, which is more fully described below in Exploration and Evaluation Projects, and the encouraging results where publicly released in the Company's news release dated May 5, 2025.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLICE
OTG STRIKE

On March 3, 2025, the Company announced the results of its first technical report on the Hercules Gold Project (“Hercules”), which included the establishment of a drill defined, bulk tonnage Exploration Target (filed on April 17, 2025 and available on www.sedarplus.ca and the Company’s website). The technical report, with an effective date of March 7, 2025, was completed by Mr. Michael Dufresne, M.Sc, P.Geol., President and CEO of APEX Geoscience Ltd., an independent Qualified Person as defined by National Instrument (“NI”) 43-101.

The initial technical report is a significant step in providing valuable information on Hercules and as a to the opportunity and potential size and scope of this recently acquired asset. The Exploration Target reviewed the current and historical drilling on the project, but most notably, that previous drilling only begins to outline the project’s potential, as StrikePoint has multiple untested geophysical and geochemical targets, some of which include visible gold at surface.

In accordance with the guidelines set forth in the NI 43-101, the report establishes a bassline Exploration Target (the “Exploration Target”) for the Hercules as summarized below:

Tonnage Range (tonnes)	Grade Range (g/t) Au	Au Ounce Range
40,300,000 - 65,600,000	0.48 - 0.63	819,000 - 1,018,000

Note: The stated potential quantity and grade is conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction.

The Exploration Target was completed utilizing a grade shell model in conjunction with the geological understanding of the mineralization to date. The grade shells were then utilized to provide grade tonnage curves with an Artificial Intelligence (“AI”) estimated model that utilized the drillhole gold assays and kriging. The Exploration Target and AI generated model will be utilized to guide future drilling in these areas of known mineralization.

The Exploration Target used data from the Sirens, Hercules, Cliffs, Loaves, Lucky Rusty, Rattlesnakes, and NorthEast targets all contained within the wholly-owned Hercules Gold Project. In this area there are a total of 306 historical drillholes yielding a total of 31,776 meters in the drillhole database along with data for 121 surface trenches. The drillhole database contains a total of 18,409 sample interval entries, with the trenches providing another 475 sample entries. A total of 5,620 sample intervals are contained within the mineralization domains utilized for the Exploration Target.

Numerous targets remain untested and the previously drill showings remain open for further expansion and potentially conversion to mineral resources.

SUBSEQUENT EVENT

Subsequent to March 31, 2025, the Company signed a definitive purchase and sale agreement with Dolly Varden Silver Corp. (“Dolly Varden”), whereby Dolly Varden will acquire the Company’s Porter Project, including the Handsome Jack, Big, Bada, and Boom properties. Pursuant to the terms of the arrangement, Dolly Varden will issue to the Company 295,699 of its common shares for a total approximate value of $1,100,000.

EXPLORATION AND EVALUATION PROJECTS

Hercules Gold Project

During the year ended December 31, 2024, the Company acquired the Hercules Gold Project by way of the acquisition of all of the issued and outstanding common shares of Alcmene Ming Inc. (a Canadian incorporated holding company) in consideration for a cash payment of $250,000, plus $62,011 in legal, regulatory, and transaction fees associated with closing the transaction. Pursuant to the terms of the acquisition, the Company also assumed estimated reclamation

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLY STRIKE

costs of $22,749 related to the Hercules Gold Project at the time of acquisition. Certain claims have reserved royalties to a maximum of 3% with associated buy-down provisions. A portion of the claims are under option with an annual payment of US $50,000 per year to be made between the years 2025 and 2032.

Hercules is located in Nevada's Walker Lane, approximately 20-kilometers east of the Comstock Lode was historically 14 million ounces of gold were produced. StrikePoint is excited about the scale of the property and gold exploration potential with previous geophysical surveys indicating the presence of an extensive alteration zone that is approximately 13-kilometers long by 6-kilometers wide that is coincident with the known mineralization, all of which is contained within a 100 square kilometer property.

The acquisition of Hercules, at a minimal acquisition cost, gives StrikePoint another quality early-stage gold-silver exploration project in a Tier 1 jurisdiction with significant potential and drill ready targets across a large land package known mineralization and many untested targets. Further technical details on Hercules can be found in the Company's news release dated September 24, 2024.

On May 5, 2025, StrikePoint announced the complete final assays from its initial exploration drilling program completed in the first quarter of 2025 at Hercules. The results successfully demonstrated that Hercules has a predictable, large, epithermal footprint hosting abundant near surface oxide gold. The Company completed 7 drillholes totaling approximately 1,400 meters of reverse-circulatory ("RC") drilling in March 2025, highlighted by hole H25005 which returned 117.35 meters of 0.45 grams per tonne ("g/t") of gold ("Au") with 3.55 g/t of silver ("Ag"). Hole H25005 is the furthest southern hole drilled on the Cliffs Target to date and demonstrates that the system is open to the south. Importantly, all seven drillholes hit near surface gold in significant quantities. Complete assay results for this initial drilling program are disclosed in the Company's news release dated April 28, 2025 and May 5, 2025.

Shallower gold intercepts showed higher cyanide solubility than deeper intercepts. Comparing cyanide soluble gold assays to fire assays showed that cyanide solubility ranged between 89% and 32% on a per hole basis. With drilling and subsequent testwork showing abundant near surface cyanide soluble gold, the Company is optimistic of the potential of an open pit heap leach operation at Hercules.

Cuprite Gold Project

On February 1, 2023, the Company completed the acquisition of a 100% interest in the Cuprite Gold Project in Nevada's Walker Lane gold trend from Orogen Royalties ("Orogen"). The Company issued 642,857 common shares of Strikepoint with a fair value of $321,429 at the time of issuance, reimbursing $47,598 on project-related costs and granting a 3% net smelter return ("NSR") royalty to Orogen, whereby 0.5% of the NSR royalty can be purchased for US $2,500,000. Orogen will also retain a 1.5% NSR royalty on any after-acquired internal claims held by third parties. Orogen will hold a one-kilometer area of interest around Cuprite and additional claims staked within the area of interest will be subject to the 3% NSR. Subsequent to the acquisition, the Company acquired an additional 310 claims via staking surrounding the original Cuprite claims. In total, Cuprite consists of approximately 574 unpatented claims covering 44-square kilometres.

Cuprite is in Nevada, approximately 15-kilometres south of Goldfield, and approximately 75-kilometres northwest of Beatty, Nevada. The project is easily accessible with Highway 95 on the western margin of the property.

Cuprite is thought to be analogous to AngloGold Ashanti Limited's ("AngloGold") Silicon Gold Deposit ("Silicon"), where a significant multi-million ounce gold resource has been defined. Like Cuprite, Silicon displays an extensive, strongly developed, steam-heated alteration zone at surface with anomalous mercury and cinnabar, as well as sharing a similar geological and structural setting.

During the years ended December 31, 2024 and 2023, StrikePoint completed systematic exploration program at Cuprite which included surface mapping, soil sampling, Induced Polarization ("IP") surveys, and an initial RC drilling campaign. Overall, the data collected indicates a possible large scale hydrothermal system in a similar structural environment to the nearby Silicon.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLICE
OTG STRIKE

During the year ended December 31, 2024, StrikePoint completed 5 drill holes totalling approximately 3,100 meters of RC drilling on the Cuprite Gold Project. Gold and silver assay results from the initial program were encouraging, with gold encountered in four of the five holes completed. Mineralization was a combination of oxide and sulphide gold, likely controlled by structures. Based on associated elements, mineralization appears to be caused by a low-sulphidation, epithermal system, similar to AngloGold's nearby newly discovered Silicon and Merlin deposits. In the Walker Lane of Nevada, low-sulphidation systems create several mines, most notably the multi-million gold ounce Round Mountain Mine operated by Kinross Gold Corporation. For full assay details, see the Company's news release dated June 4, 2024.

Reportable gold-silver mineralization over approximately 1,600 meters of strike length is coincident with the extensive surface mercury anomaly and the geophysical work the Company has completed. The initial results confirm the potential of this epithermal system to host higher grade mineralization. The next steps will be to use the RC chips to map clay alteration in the third-dimension, further refining the targets for a potential next phase of drilling targeting higher grade mineralization perhaps associated with feeder structures at Cuprite. Further drilling programs at Cuprite are being evaluated and will be considered pending availability of additional financing and ranking of exploration targets.

Projects in British Columbia, Canada – Willoughby and Porter

The Company holds a 100% interest in the Willoughby Property ("Willoughby"), located in north-western British Columbia. In March 2019, the Company posted a reclamation bond payment in the amount of $39,000. Willoughby is subject to a 1.5% net smelter return ("NSR") royalty, of which 0.5% can be purchased for a cash payment of $1,000,000.

As at March 31, 2025, the Company held a 100% interest in the Porter Idaho Property ("Porter"), located near Stewart, British Columbia. Porter is subject to a 1% NSR, of which the Company has the option to purchase 0.5% for $750,000. As of March 31, 2025 and December 31, 2024, the Company posted a reclamation bond payment in the amount of $31,000 on Porter. The Company also held a 100% interest in the Handsome Jack property, adjacent to Porter (subject to a 1% NSR, of which the Company can buy back 0.5% for $500,000). The Company also staked, the Big, Bada and Boom properties, also contiguous to Porter and the Handsome Jack properties near Stewart, BC.

No significant exploration work was completed at the Porter or Willoughby area for the three months ended March 31, 2025 or for the year ended December 31, 2024, as the Company continues to focus its exploration efforts at Cuprite.

Subsequent to March 31, 2025, the Company signed a definitive purchase and sale agreement with Dolly Varden Silver Corp. ("Dolly Varden"), whereby Dolly Varden will acquire the Company's Porter Project, including the Handsome Jack, Big, Bada, and Boom properties. Pursuant to the terms of the arrangement, Dolly Varden will issue the Company 295,699 of its common shares for a total approximate value of $1,100,000.

Yukon Properties

The Company continues to maintain certain non-core concessions in the Yukon with minimal holding costs. The Company does not currently have any exploration plans for these concessions.

CONSOLIDATED FINANCIAL RESULTS

For the three months ended March 31, 2025 ("Q1 2025"), the Company incurred a loss of $1,323,643 (loss per share of $0.03) compared to a loss of $1,204,226 (loss per share of $0.05) for the three months ended March 31, 2024 ("Q1 2024"). The significant variances between the periods are discussed below.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLICE
OTG STRIKE

Exploration and evaluation costs were slightly higher in Q1 2025 totaling $836,602 compared to $821,846 in Q1 2024. The Company's exploration focus in 2025 was its exploration program at Hercules, while its focus in 2024 was Cuprite, with both projects completing drilling programs in each period. A breakdown of the significant components of exploration and evaluation costs is included in Note 4 of the unaudited condensed consolidated interim financial statements for the three months ended March 31, 2025 and 2024. For details on the type of exploration work conducted at Hercules and Cuprite, refer to section Exploration and Evaluation Projects within this MD&A.

Management fees, salaries and wages remained consistent from period to period totaling $159,843 in Q1 2025 (Q1 2024 - $160,710) as management of StrikePoint remained unchanged for all periods presented.

StrikePoint incurred total property investigation costs of $Nil in Q1 2025 (Q1 2024 - $24,618) on expenditures associated with review of potential new projects not currently owned by the Company. StrikePoint continues to review new potential projects with the view of creating additional shareholder value, as demonstrated by the acquisition of Hercules in the latter half of 2024.

During Q1 2025 and Q1 2024, the Company committed to an extensive marketing and promotional campaign to introduce shareholders to the Hercules and the Cuprite Gold Projects, respectively, including attendance at various conferences in North America and overseas, increased shareholder engagement and meetings, and other marketing programs designed to introduce new investors to the Company. This increased marketing campaign resulted in an increase in shareholder communication costs to $204,081 in Q1 2025 compared to $116,526 in Q1 2024.

LIQUIDITY, CAPITAL RESOURCES AND CAPITAL MANAGEMENT

As at March 31, 2025, the Company had current assets of $1,692,152 (December 31, 2024 - $2,402,389) (which included cash of $1,385,604 (December 31, 2024 - $1,950,674)), and total liabilities of $914,074 (December 31, 2024 - $309,800). The increase in current liabilities as at March 31, 2025 compared to the year end was associated with the completion of the Company's drilling program at Hercules. As at March 31, 2025 and December 31, 2024, the Company had no long-term debt outstanding. The Company used net cash of $567,782 in operating activities during the three months ended March 31, 2025 (three months ended March 30, 2024 - $578,085).

The Company has financed its operations to date primarily through the sale of mineral properties, issuance of common shares, and exercise of stock options and share purchase warrants. The Company continues to seek capital through various means including the issuance of equity and/or debt. The Company has not paid any dividends on its common shares. The Company has no present intention of paying dividends on its common shares, as it anticipates that all available funds will be invested to finance the growth of its business.

The continuing operations of the Company are dependent upon its ability to continue to raise adequate financing and/or commence profitable operations in the future. As at March 31, 2025, the Company has an accumulated deficit of $64,388,787 and has working capital of $778,078.

During the year ended December 31, 2024, the Company completed a non-brokered private placement for gross proceeds of $3,041,100. The private placement consisted of 15,205,500 units of the Company at a price of $0.20 per unit. Each unit was comprised of one common share and one share purchase warrant, with each share purchase warrant exercisable into one common share of the Company at an exercise price of $0.30 for a period of twenty-four (24) months from closing. The share purchase warrants are subject to an acceleration clause stipulating that should the Company's share price close at, or above, $0.40 for ten consecutive trading days, the share purchase warrants will be called for exercise within 30 days of the Company providing notice by way of regular news release or the share purchase warrants will expire. In connection with the closing of the private placement, the Company paid $184,154 in finder's fees, regulatory, legal and administration fees.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLICE
TEXAS TREATMENTS

Also, during the year ended December 31, 2024, the Company completed a non-brokered private placement of 5,011,875 units at a price of $0.40 per unit for gross proceeds of $2,004,750. Each unit was comprised of one common share and one half of one common share purchase warrant, with each whole warrant exercisable into one common share of the Company at an exercise price of $0.70 per common share for a period of 24 months from closing. In connection with this private placement, the Company paid finders fees, regulatory and administrative costs of $112,273 and issued a total of 181,388 broker warrants. The broker warrants entitle the holder to purchase one common share of the Company at a price of $0.70 per broker warrant for a period of 24 months from the date of issuance.

Additional financing will be required to carry out further exploration and development of its properties, which indicates the existence of material uncertainty that casts significant doubt about the Company's ability to continue as a going concern.

Capital Management

The Company considers its capital structure to include working capital and shareholders' equity. The Company monitors its capital structure and makes adjustments in light of changes in economic conditions and risk characteristics of the underlying assets and capital markets. In order to facilitate the management of capital and the development of its mineral properties, the Company prepares annual expenditure budgets which are regularly monitored and updated as necessary.

To maintain or adjust the capital structure, the Company may issue new equity or debt financing, if available, on favorable terms, option its mineral properties for cash and/or expenditure commitments from optionees, enter joint venture arrangements, or dispose of mineral properties.

The Company's investment policy is to hold cash in interest-bearing bank accounts and highly liquid short-term, interest-bearing investments with maturities of one year or less which can be liquidated at any time without penalties. The Company is not subject to externally imposed capital requirements. There have been no significant changes in the Company's approach to capital management during the three months ended March 31, 2025.

OFF-BALANCE SHEET ITEMS

As at March 31, 2025, the Company did not have any off-balance sheet items.

OUTSTANDING SHARE INFORMATION

The total number of outstanding common shares, stock options, and share purchase warrants are as follows:

As of:	May 27, 2025	March 31, 2025	December 31, 2024
Shares issued and outstanding	41,594,922	41,594,922	41,594,922
Options issued and outstanding	3,694,450	3,694,450	3,694,450
Warrants issued and outstanding	17,892,826	17,892,826	17,892,826

Effective at the market opening on October 18, 2024, a share consolidation of the Company's issued and outstanding common shares on the basis of ten (10) pre-consolidated common shares for one (1) post-consolidated common share. As a result, the Company's issued and outstanding warrants and stock options were also consolidated on a ten-to-one basis. All information relating to basic and diluted loss per share, issued and outstanding common shares, share purchase warrants, stock options, share and per share amounts in this MD&A have been adjusted retrospectively to reflect the share consolidation.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024
STRIKEPOINT GOLD
TEXAS AIR POLICE
TEXAS TREATMENT

QUARTERLY INFORMATION

	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023
Income (loss) for period	$ (1,323,643)	$ (677,075)	$ (1,305,189)	$ (1,484,864)	$ (1,204,226)	$ (422,088)	$ (963,131)	$ (846,217)
Income (loss) per share	$ (0.03)	$ (0.02)	$ (0.05)	$ (0.06)	$ (0.05)	$ (0.02)	$ (0.05)	$ (0.04)

The variation seen over the above quarters is primarily dependent upon the success of the Company's ongoing property evaluations and acquisition program and the timing, scope and results of the Company's exploration activities on its current properties, none of which is possible to predict with any accuracy. The Company will continue to incur losses until such time as the commercial development of a discovery or an acquisition result in positive earnings or the disposition of a project results in positive income for any given period. The above losses are also impacted by options granted in any given period, which give rise to share-based compensation expenses.

The total losses for Q1 2024 and Q2 2024 includes increased costs related to the drilling exploration program at Cuprite, as well as increasing marketing awareness initiatives and stock-based compensation expense related to the granting of options in Q2 2024. Q3 2024 was highlighted by the costs incurred on purchase of the Hercules Gold Project. The total loss incurred in Q1 2025 was higher as a result of the completion of the Company's initial drilling exploration program at Hercules, combined with an increased marketing and promotional campaign associated with the new project and most recent private placement completed in Q4 2024.

SELECTED ANNUAL INFORMATION

As of and for the year ended:	December 31, 2024	December 31, 2023	December 31, 2022
Total assets	$ 2,666,136	$ 2,028,005	$ 4,857,542
Working Capital	2,092,589	1,685,421	4,488,197
Loss for the year	(4,671,354)	(3,486,993)	(1,129,111)
Loss per share - basic and diluted	$ (0.17)	$ (0.16)	$ (0.05)

COMMITMENTS AND CONTINGENCIES

The Company is required to incur exploration expenditures on its mineral claims to meet the conditions of holding its mineral rights and keep the mineral leases in good standing. Each jurisdiction imposes expenditure requirements which vary from province to province or state to state and from year to year.

During the year ended December 31, 2024, the Company agreed to an office rental sub-lease for $8,600 per month. The Company can terminate the rental arrangement by providing the landlord with a 12-month written notice at any time. Should the Company not invoke its termination clause, the minimum lease payments under the term of the lease are as follows:

• Remainder of 2025 - $77,400
• 2026 - $103,200
• 2027 - $103,200
• 2028 - $103,200
• 2029 - $103,200
• 2030 - $34,400

The Company has no contingencies as at the date of this MD&A.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024
STRIKEPOINT GOLD
TEXAS AIR POLICE
TEXAS TAX INVOICE

RELATED PARTY TRANSACTIONS

In accordance with IAS 24, key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly. The Company has identified its members of the Board, including its Executive Chairman, its Chief Executive Officer ("CEO"), its Chief Financial Officer ("CFO"), and its former VP Exploration as its key management personnel.

The various fees and compensation paid to directors and key management personnel identified are presented below.

	Three Months Ended March 31,
	2025	2024
Salaries and wages paid to CEO^{2}	$ 62,500	$ 62,500
Salaries and wages paid to CFO^{2}	31,250	31,250
Fees paid or accrued to Executive Chairman^{1,2}	45,000	45,000
Fees paid or accrued to a member of the Board^{2}	9,000	9,000

1) Fees paid or accrued were paid to companies controlled by individual.
2) Included and expensed as part of management fees, salaries and wages.

As at March 31, 2025, accounts payable and accrued liabilities included $9,000 (December 31, 2024 - $18,000) due to related parties for outstanding fees, compensation, or expense reimbursement charges.

PROPOSED TRANSACTIONS

The Company continues to evaluate quality exploration projects and financing opportunities. The Company has not entered into any undisclosed proposed transactions as at the date of this MD&A.

RISK FACTORS

The Company is subject to various business, financial, operational, and other risks, uncertainties, contingencies and other factors which could materially adversely affect the Company's future business, operations, and financial condition and could cause such future business, operations and financial condition to differ materially from the forward-looking statements and information contained in this MD&A.

The nature of the Company's activities and the locations in which it operates mean that the Company's business generally is exposed to significant risk factors, known and unknown, many of which are beyond its control.

For a discussion of risks faced by the Company, which may cause the actual financial results, performance or achievements of the Company to be materially different from the Company's estimated future results, performance or achievements expressed or implied by forward-looking information or forward-looking statements, please refer to the Company's latest AIF, filed on SEDAR.

CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

The preparation of financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities, disclosure of commitments and contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The determination of estimates requires the exercise of judgement based on various assumptions and other factors such as historical experience, current and expected economic conditions. Actual results could differ from these estimates.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLICE
OTC STRIKE

Key sources of estimation uncertainty that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities applied in the preparation of the unaudited condensed interim consolidated financial statements are consistent with those applied and disclosed in the audited annual consolidated financial statements for the year ended December 31, 2024.

RECENT ACCOUNTING PRONOUNCEMENTS AND MATERIAL ACCOUNTING POLICY INFORMATION

The Company's accounting policies are outlined in the audited consolidated financial statements for the year ended December 31, 2024 and 2023 in Note 2. The accounting policies and basis of presentation applied in the preparation of the unaudited condensed consolidated interim financial statements for the three months ended March 31, 2025 are consistent with those applied and disclosed in the Company's audited annual consolidated financial statements for the year ended December 31, 2024.

New Accounting Standards

(a) On April 9, 2024, the IASB issued IFRS 18 Presentation and Disclosures in Financial Statements. The objective of the new standard is to set out requirements for the presentation and disclosure of information in general purpose financial statements to help ensure they provide relevant information that faithfully represents an entity's assets, liabilities, equity, income and expenses. The new standard is effective for reporting periods beginning on or after January 1, 2027. Management is currently assessing the impact of the new standard on the Company's interim and annual financial statements.

(b) On May 30, 2024, the IASB issued amendments to the classification and measurement of financial instruments to address matters identified during the post-implementation review of the classification and measurement requirements of IFRS 9 and IFRS 7. The IASB clarified the recognition and derecognition date of certain financial assets and liabilities, and amended the requirements related to settling financial liabilities using an electronic payment system. It also clarified how to assess the contractual cash flow characteristics of financial assets in determining whether they meet the solely payments of principal and interest criterion, including financial assets that have environmental, social and corporate governance-linked features and other similar contingent features. The IASB added disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs, and amended disclosures relating to equity instruments designated at fair value through other comprehensive income. The amendments are effective for reporting periods beginning on or after January 1, 2026. Management is currently assessing the impact of the new standard on the Company's interim and annual financial statements.

FINANCIAL INSTRUMENTS

The Company's financial instruments currently consist of cash, receivables (excluding value-added tax receivable), reclamation bonds and accounts payable and accrued liabilities. The carrying value of these financial instruments approximates their fair value. Moreover, it is management's opinion that the Company is not exposed to significant credit, liquidity, or market risks arising from these financial instruments. For further details, refer to Note 11 of the consolidated financial statements for the years ended December 31, 2024 and 2023.

CONTROLS AND PROCEDURES

In compliance with the Canadian Securities Administrators' Regulation, the Company has filed certificates signed by the CEO and the CFO that, among other things, report on the design of disclosure controls and procedures and the design of internal controls over financial reporting.

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STRIKEPOINT GOLD INC.
MANAGEMENT'S DISCUSSION & ANALYSIS
Three Months Ended March 31, 2025 and 2024

STRIKEPOINT GOLD
TEXAS AIR POLICE
TEXAS OTC STRIKE

Disclosure controls and procedures have been designed to provide reasonable assurance that all relevant information required to be disclosed by the Company is accumulated and communicated to senior management as appropriate and recorded, processed, summarized, and reported to allow timely decisions with respect to required disclosure, including in its annual filings, interim filings or other reports filed or submitted by it under securities legislation.

Management, including the CEO and CFO, is responsible for establishing and maintaining adequate internal control over financial reporting. Management believes that any system of internal control over financial reporting, no matter how well conceived and operated, has inherent limitations. As a result, even those systems designed to be effective can provide only reasonable, not absolute, assurance that the objectives of the control system are met. There have been no significant changes in StrikePoint's internal control over financial reporting during the three months ended March 31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

QUALIFIED PERSON

The technical information for the Company's Nevada properties included in this MD&A has been approved by Michael G. Allen, P. Geo. Mr. Allen is a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Properties.

FORWARD-LOOKING STATEMENTS

Certain information set forth in this MD&A, including management's assessment of the Company's future plans and operations, contains forward-looking statements, which are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. The Company is a mineral exploration company and is exposed to a number of risks and uncertainties that are common to companies in the same business. These risks and uncertainties include, among other things, the speculative nature of mineral exploration and development activities, the Company's need for additional funding to continue its exploration efforts, operating hazards and risks incidental to mineral exploration, the Company's properties are in the exploration stage only and do not contain a known body of commercial ore, uncertainties associated with title to mineral properties, changes in general economic, market and business conditions; competition for, among other things, capital, acquisitions of mineral properties and skilled personnel; ability to obtain required mine licenses, mine permits and regulatory approvals required to proceed with mining operations; ability to comply with current and future environmental and other laws; actions by governmental or regulatory authorities including increasing taxes and changes in other regulations; and the occurrence of unexpected events involved in mineral exploration, development and production.

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