Drilling Update

Critical Mineral Resources plc (“CMR”, or the “Company”) is pleased to provide an update on drilling activities at the Agadir Melloul copper silver project and outline the 2026 work programme and key development milestones.

Two diamond drill rigs are currently operating on site, and drilling activity has accelerated following the replacement of a contractor rig which had experienced mechanical issues. Drilling rates are now exceeding 50 metres per day across the two rigs.

Core samples from both Zone 1 and Zone 2 continue to display visible sulphide mineralisation. Initial samples from the current drilling programme will be submitted for laboratory analysis shortly, with first assay results expected in mid to late April 2026. Subject to laboratory turnaround times, the Company intends to provide drilling updates approximately every four weeks thereafter.

Drilling progress

A total of 720m of core drilling was completed in February, reflecting a combination of adverse weather conditions and contractor rig breakdowns. These issues have now been addressed, with a replacement contractor diamond rig now on site while the Company’s diamond rig is operating at near full capacity.

With both rigs now operating effectively, the Company expects to drill close to 1,000 metres in March and intends to increase this rate to 1,200 metres per month in the coming months. The drilling programme is being actively managed as the geological model evolves, enabling work to focus on the most prospective zones identified to date.

Highlights

Two diamond rigs are currently in operation.

Copper sulphide mineralisation observable in core.

Drill programme being actively refined as the geological model evolves.

CMR’s diamond drill is performing extremely well, and the contractor rig has been upgraded.

2026 development timeline

Drilling update

Diamond core is now being produced on a daily basis, and copper mineralisation in both sulphides and oxides is observable in core. Figure 1 below shows copper oxide and sulphide mineralisation from Zone 1. There will be a short operational pause this week for Eid al-Fitr, after which drilling will continue at approximately 50m per day.

Fig.1 March drill core

Source: Company

Charlie Long CEO commented:

“

Following a challenging start to the year due to weather conditions and contractor rig issues, drilling operations at Agadir Melloul are now running smoothly with two rigs operating on site and drilling rates improving significantly.

The geological model continues to evolve as new drill information becomes available, and visible sulphide mineralisation has been encountered in multiple zones across the project area. We expect to begin releasing assay results from the current drilling programme in April and will provide regular updates thereafter.

In parallel with the drilling programme, a number of important development workstreams are progressing, including metallurgical testing, process design and environmental studies. These activities are designed to support the delivery of a maiden JORC Mineral Resource later this year and to advance the project towards feasibility.

Agadir Melloul continues to demonstrate the characteristics of a potentially significant copper system, with shallow mineralisation, encouraging grades and considerable exploration potential across the wider licence area. As the core photos show, we are seeing good copper mineralisation and we’re very excited about the upcoming results”

Resource development and exploration potential

The planned maiden Mineral Resource Estimate will focus on shallow mineralisation identified within a small portion of the overall Agadir Melloul licence area. The Company expects this initial resource to represent less than 5% of the total project area, highlighting the significant exploration upside across the wider land package.

CMR has defined an Initial Exploration Target of approximately 150,000 to 200,000 tonnes of contained copper equivalent, based on a shallow, semi-continuous tabular mineralised system with an estimated average thickness of approximately 2 metres and an average grade of approximately 1.2% copper equivalent.

The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain whether further exploration will result in the estimation of a Mineral Resource.

Following the publication of the maiden Mineral Resource Estimate in Q3 2026, the Company plans to advance the mining studies required for the Agadir Melloul feasibility study, including mine design and production scheduling, with the objective of supporting the development of an initial mining operation.