Half-year Results

Critical Mineral Resources plc (CMRS), the exploration and development company focused on critical metals and minerals in Morocco, is pleased to announce its unaudited interim results for the six months ended 30 June 2025 ('H1 2025' or the 'Period').

Highlights in H1 2025

On 23rd May 2025 the Company signed a formal joint venture agremment for the Agadir Melloul copper project in the Western Anti Atlas.

During the period, £1.1 million was advanced to Agamel Minerals SARL to fund drilling, exploration, technical work and permit acquisitions in Morocco.

During the period the Company received total funds of £2.2m (£825,000 in equity and £1.4m in proceeds from Convertible Loan Notes).

Russell Tucker was appointed to the Board as a non-Executive Director on the 23rd May 2025.

Charles Long, Chief Executive Officer, commented:

“H1 2025 was very significant for CMR and its shareholders. We signed the formal joint venture agreement for Agadir Melloul and secured cornerstone finance. This finance, provided by our largest shareholder, followed nearly 3 months of technical and corporate due diligence, including a site visit by an independent mining consultant whose very positive technical report formed the basis of the investment decision. I think it is fair to say that these achievements, for a small company in a challenging market, are worth celebrating, and will come to define CMR’s future. We are now drilling and first assay results will be published soon, most likely during October 2025. On this front, we have to balance strong demand for newsflow from the market, with what is best for our longer term strategy and shareholders. This is the approach we have taken thus far and I believe it has been successful. I will say, however, that drilling is going extrememly well, both in terms of metres achieved and the visible mineralisation in the core. There is palpable excitement on the ground and I am very confident that, when the time is right, we will be announcing some very interesting drill results.”

CONDENSED INCOME STATEMENT

Six months ended 30 June 2025

Other comprehensive income:

Items that may be reclassified subsequently to profit and loss:

The above Condensed Consolidated Financial Statements should be read in conjunction with the accompanying notes.

CONDENSED CASHFLOW STATEMENT

Six months ended 30 June 2025

NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS

General information

The principal activity of the Company and its subsidiaries (the Group) is in mineral exploration and the development of appropriate exploration projects. The Company’s registered office is at Eccleston Yards, 25 Eccleston Place, London, SW1W 9NF. Its shares are listed on the Main Market of the London Stock Exchange under the ticker “CMRS”, in the “Equity Shares – Transition” category. On 17 August 2023 the Company changed its name from Caerus Mineral Resources PLC to Critical Mineral Resources PLC.

BASIS of PREPARATION

These condensed interim financial statements are for the six months ended 30 June 2025 and have been prepared in accordance with the accounting policies adopted in the Group’s most recent annual financial statements for the year ended 31 December 2024.

The Group have chosen to adopt IAS 34 “Interim Financial Reporting” in preparing this interim financial information. They do not include all the information required in annual financial statements, and they should be read in conjunction with the consolidated financial statements for the year ended 31 December 2024 and any public announcements made by Critical Mineral Resources Plc (“CMR”) during the interim reporting period.

The business is not considered to be seasonal in nature.

The functional currency for each entity in the Group is determined as the currency of the primary economic environment in which it operates. The functional currency of the parent company CMR is Pounds Sterling (£) as this is the currency that finance is raised in. The functional currency of its subsidiary is the Moroccan Dirham as this is the currency that mainly influences labour, material and other costs of providing services. The Group has chosen to present its consolidated financial statements in Pounds Sterling (£), as the Directors believe it is a more convenient presentational currency for users of the consolidated financial statements. Foreign operations are included in accordance with the policies set out in the Annual Report and Accounts.

The condensed interim financial statements have been approved for issue by the Board of Directors

on 29 September 2025.

New standards, amendments and interpretations adopted by the Group.

New standards, amendments and interpretations not yet adopted by the Group.

Going concern

The condensed interim financial statements have been prepared on the assumption that the Group will continue as a going concern. Under the going concern assumption, an entity is ordinarily viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading or seeking protection from creditors pursuant to laws or regulations. In assessing whether the going concern assumption is appropriate, the Directors take into account all available information for the foreseeable future, in particular for the twelve months from the date of approval of the condensed interim financial statements.

The Group’s assets are not currently generating revenues, an operating loss has been reported and an operating loss is expected in the 12 months subsequent to the date of these financial statements. Notwithstanding this, the Company expects to receive £400,000 from its strategic investor in lne with the subscription agreement, and there are outstanding warrants which the directors anticipate will be exercised in the near term. In addition, the directors are confident that further funding could be secured through an equity raise if required.

The Board, whilst acknowledging this material uncertainty, remains confident of raising finance and therefore have concluded that there is a reasonable expectation that the Company has access to adequate resources to continue in operational existence for the foreseeable future. In the event of lack of funds, the Directors would implement temporary reductions in salaries. For this reason, the Directors have adopted the going concern basis in preparing the condensed interim financial statements.

Risks and uncertainties

The Directors continuously assess and monitor the key risks of the business. The key risks that could affect the Group's medium-term performance and the factors that mitigate those risks have not substantially changed from those set out in the Group’s most recent annual financial statements for the year ended 31 December 2024.

Critical accounting estimates

The preparation of condensed interim financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the end of the reporting period. Significant items subject to such estimates are set out in Group’s most recent annual financial statements for the year ended 31 December 2024. The nature and amounts of such estimates have not changed during the interim period.

SEGMENTAL REPORTING

Mineral exploration, all based in Morocco

The geographical information is the same as the operational segmental information shown below.

EARNINGS PER SHARE

The calculation for earnings per Ordinary Share (basic and diluted) is based on the consolidated loss attributable to the equity shareholders of the Company is as follows:

Earnings and diluted earnings per Ordinary share are calculated using the weighted average number of Ordinary shares in issue during the period. There were no dilutive potential Ordinary shares outstanding during the period.

INVESTMENT IN ASSOCIATES AND JOINT VENTURES

During the six months ended 30 June 2025, the Group advanced a total of £1,123,138 in respect of its investment in Agamel Minerals SARL, a joint venture vehicle established with Coppernicus Mining Company SARL to hold and develop copper–silver exploration permits in central Morocco. The advances represent the Group’s contribution towards drilling, development expenditure, exploration programmes, technical work, and the acquisition of permits, and in aggregate secure the Group’s position to earn up to a 60% interest in the project. In line with the Group’s accounting policies, the expenditure has been recorded as an advance for exploration and evaluation assets; however, following the period end, on 11 August 2025, 10% of the share capital in Agamel Minerals SARL was transferred to the Group, and the investment will be accounted for as investments in associates.

TRADE AND OTHER PAYABLES

OTHER EQUITY

Other equity consists of gifted shares in Critical Mineral Resources Plc that are held by the Company.

On 27 March 2025, the Company announced the placement of the remaining 1,129,592 gifted shares at a conversion price of £0.011 per share with a value of £12,425. No gifted shares were held at period end.

WARRANTS AND OPTIONS

The following table sets out the movement of warrants during the period, no warrants were exercised during either period:

The carrying value of the liabilities above is deemed to equate to their fair value, due to their short-term nature.

During the period the Company issued the following CLNs:

1,387,474

On the 28th March 2025, £198,540 of the CLNs were converted and interest was paid in ordinary shares. The convertible loan notes are presented in the balance sheet as follows:

£

* There is no material difference between the initial fair value of the notes and their carrying amount, since the interest payable on those borrowings is close to the current market rate for such a loan and the redemption date is 31 December 2025, therefore the equity component is not material and has not been recognised.

**interest expense is calculated by applying the actual interest rate of 15% and 5% to the liability outstanding on a daily basis and was paid in shares at the request of the note holders.

SUBSEQUENT EVENTS

The Directors confirm that apart from the events documented below, there have been no events subsequent to the interim period end of 30 June 2025 which would have a material impact on these financial statements.

On 11 August 2025, 10% of the share capital in Agamel Minerals SARL, was transferred to the Company as the first phase of the joint venture with Copperinus Mining Company.

Post period end, the Company received £350,000 (Tranche 3) from Gilini Holdings earlier than expected.

DIRECTORS’ RESPONSIBILITY STATEMENT