Cobre Access Extended and New Purchase Order

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing minerals company, is pleased to announce the extension of its access to the Cobre magnetite stockpile in New Mexico from 31 March 2027 to 31 March 2029 and a new significant purchase order for 2025.

From 2017, Strategic Minerals has repeatedly extended access to the magnetite stockpile at Cobre, New Mexico, through its wholly owned subsidiary Southern Minerals Group ("SMG"), providing a long-term revenue stream for the Company.

The latest extension demonstrates the continued high-level of operational performance maintained by the SMG team on the ground and will allow SML to explore opportunities to optimise revenues and cash flow going forward.

The timing of the extension also coincides with the receipt of a new purchase order for 2025 of up to 30,000 tonnes from one of SMG's major clients, which contributes substantially to the forward-looking revenue profile.

Sales at Cobre continue to perform well with management confident of exceeding full year sales of US$4.5m. Further details will be provided in the Company's next quarterly update scheduled for Q1 2025.

Commenting, Mark Burnett, Executive Director of Strategic Minerals, said:

"The extension of access at Cobre to 31 March 2029 is a huge achievement by the excellent SMG team on the ground. Combined with a significant new purchase order, this should underpin the revenue profile for SML into 2025 and beyond and provide scope to expand operations across the portfolio of SML assets."