Cobre Sales Update

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company, is pleased to provide the following update on the Company's ore sales at the Cobre magnetite operation in New Mexico, USA ("Cobre") for the quarter ended 31 March 2025.

Highlights

• March quarter sales volumes of 17,162 tonnes (March quarter 2024: 12,393 tonnes), with year-on-year growth of 38%.
• March quarter revenue of US$1.18m (March quarter 2024: US$0.84m), with year-on-year growth of 41%.
• Group cash balance of US$0.53m as at 31 March 2025 (US$0.25m as at 31 March 2024 and US$0.62m as at 31 December 2024), principally due to increased activity at the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK ("Redmoor").
• In January the Company announced the appointment of Mr Philip Haydn-Slater as an independent Non-Executive Director.
• In February the Company announced additional tungsten and copper mineralisation identified by relogging of core programme at Redmoor, validating potential upside to the existing JORC (2012) compliant Mineral Resource Estimate ("MRE").

Sales update: Cobre magnetite tailings operations

The Company posted sales volumes of 17,162 tonnes in the March quarter 2025, a 38% increase on the March quarter 2024 results, equating to US$1.18m of sales revenues, itself a 41% increase on the March 2024 quarter.

The Company continues to benefit from the return of Cobre's major client in the 2024 operational year and the in-country team have consistently delivered when scaling operations to meet demand.

Sales comparisons for quarterly and annual periods to 31 March 2025, along with associated volume details, are shown in the table below:

Cash Balances

As at 31 March 2025, the Company's cash balance was US$0.53m. This was due to another strong quarter of sales volumes at Cobre as the Company continues to rationalise the internal cost profile ready to focus on CRL and critical minerals exploration and development.

Cornwall Resources Limited

In February, the Company's 100% subsidiary CRL, announced initial success at Redmoor through a process of relogging and sampling of its existing diamond drill core.

Results identify new tungsten, copper and tin mineralisation within and external to the Sheeted-Vein-System (SVS), included:

• Tungsten trioxide grades of 0.33% WO3 over 1m from 393.5m and 0.30% WO3 over 1m from 440.95m, both in CRD025;
• Copper grades of 0.34% Cu over 4m from 384m in CRD022 and 0.42% over 1.25m from 326.9m in CRD024;
• Elevated tin concentrations up to 0.36% Sn over 1.3m from 270.7m in CRD027.

The results further validated the potential upside to the existing JORC (2012) compliant Redmoor Mineral Resource Estimate ("MRE") published on 14 February 2019.

Relogging continues and CRL has started to recruit more in-house geological specialists in order to accelerate the planned exploration work programme.

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

"The Company continued to post strong operational and financial results in the first quarter of 2025 which will support the renewed focus on critical minerals exploration and development at the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK. I would like to thank the whole team for their dedication throughout this transition period and look forward to delivering value for shareholders in 2025."

1 Equivalent metal calculation notes; Sn(Eq)% = Sn% x 1 + WO3% x 1.43 + Cu% x 0.40. WO3(EQ)% = Sn% x 0.7 + WO3 + Cu% x 0.28. Commodity price assumptions: WO3 US$ 33,000/t, Sn US$ 22,000/t, Cu US$ 7,000/t. Recovery assumptions: total WO3 recovery 72%, total Sn recovery 68% & total Cu recovery 85% and payability assumptions of 81%, 90% and 90% respectively

In September 2011, Strategic Minerals acquired the distribution rights to the Cobre magnetite project in New Mexico, USA, through its wholly owned subsidiary Southern Minerals Group ("SMG"). Cobre has been in production since 2012 and continues to provide a sustainable revenue stream for the Company.

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine ("LCCM") situated in the copper rich belt of South Australia. The Company continues seek opportunities to monetise the asset.