Identification of Silver Mineralisation at Redmoor

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce that its wholly owned subsidiary, Cornwall Resources Limited ("CRL"), has received positive results from the re-analysis of 111 pulp samples from previous CRL exploration drilling programmes, following a review of prior analytical results.

The results, combined with historical analyses, identify the mineralisation of silver associated with copper within the Sheeted Vein System ("SVS"), within the current Redmoor Mineral Resource Estimate ("MRE"), and in other mineralised zones.

Highlights:

• As part of the ongoing re-logging campaign at Redmoor, a review process has continued to be undertaken on historical assay results, which has resulted in the identification of elevated silver (Ag) concentrations associated with copper (Cu) mineralisation
• A review of 202 historical CRL drillcore assays highlighted strong Ag mineralisation associated with Cu within identified geological structures that form part of the SVS and the current Redmoor MRE, notable historic examples include:

o CRL000662: 0.75m @ 105.0 g/t Ag and 8.70% Cu from 367.25m in CRD011

o CRL004189 + CRL004190: 1.75m @ 91.1 g/t Ag and 7.35% Cu from 413.67m in CRD031

o CRL002087 + CRL002088: 3.00m @ 35.8 g/t Ag and 2.60% Cu from 298.13m in CRD020

o CRL000371: 1.11m @ 52.4 g/t Ag and 3.79% Cu from 257.93m in CRD007

o CRL000579: 0.86m @ 50.6 g/t Ag and 3.27% Cu from 326.14m in CRD009

• To validate these relationships, 111 archived drillcore pulp samples from historical drilling were selected and submitted for Ag-specific analysis
• The re-analyses of these samples and statistical evaluation of results indicate a strong positive relationship between copper sulphide mineralisation at Redmoor, and Ag occurrence, notable in the historic datasets. Key intersections include:

o CRL003081: 1.0m @ 33.9 g/t Ag and 2.54% Cu from 491.24m in CRD022

o CRL002527: 1.0m @ 30.5 g/t Ag and 4.06% Cu from 394.55m in CRD021

o CRL001476: 1.1m @ 19.2 g/t Ag and 2.51% Cu from 121.35m in CRD010

• From the available dataset, samples containing >0.5% Cu show an average Ag grade of 18.9 g/t Ag, while those with >1.5% Cu average 32.5 g/t Ag. These results indicate a positive correlation between copper and silver grades, and will be investigated further as the project develops

Dennis Rowland, CRL Project Manager, commented:

"As part of the relogging and resampling programme of historical CRL drill core at Redmoor, the geological team has continued the analysis of datasets from historical laboratory results. Alongside the recently announced upgrade to historical tungsten sample results (RNS: 07/05/2025), these new results and the ongoing investigation into the potential relationship between copper and silver mineralisation at Redmoor highlight the unrecognised and unstudied potential for further economic indicators for the project.

"It is our intention to continue these investigations as we progress both the relogging and sampling campaign, and the match grant funded drilling programme, so that new datasets are available to be included in the remodelling of the Redmoor deposit for potential inclusion in the planned mineral resource estimate update in Q1 2026."

Background: Re-analysis of Historical Pulp Samples from 2017 to 2018 Drillcore to Identify Silver Mineralisation Associated with Copper

As part of the ongoing re-logging and sampling campaign at Redmoor, a review process has continued to be undertaken on historical assay results, which has resulted in the identification of elevated silver (Ag) concentrations associated with copper (Cu) mineralisation. Through a review of the additional geological and mineralogical information gained from the current re-logging programme, coupled with a statistical and geochemical analysis of historical analytical data, a positive correlation between copper sulphide mineralisation and the presence of silver was observed.

Consequently, a batch of 111 historical pulp samples from CRL's 2017 and 2018 drill core samples were sent to ALS Laboratories, Loughrea, Ireland. The samples were assayed using ALS method ME-ICP61 (multi-acid digestion followed by ICP-AES), specific for trace-level and low-grade silver analysis. Laboratory quality assurance / quality control ("QAQC") protocols were applied, including the use of Ag specific certified reference materials ("CRM"s), blanks, and pulp duplicates. All QAQC data was checked by CRL and returned results within acceptable tolerance limits. The results of this analysis confirmed the co-occurrence of silver with copper sulphide mineralisation and identified additional, higher-grade Ag and Cu samples, as highlighted by the following samples:

• CRL003081: 1.0m @ 33.90 g/t Ag and 2.54% Cu from 491.24m in CRD022

o CRL003080 - CRL003082: now grading at 4.2m @ 29.50 g/t Ag and 2.30% Cu from 490.04m in borehole CRD022*

• CRL002527: 1.0m @ 30.50g/t Ag and 4.06% Cu from 394.55m in CRD021
• CRL001476: 1.1m @ 19.20 g/t Ag and 2.51% Cu from 121.35m in CRD010
• CRL002644: 0.4m @ 15.90 g/t Ag and 0.66% Cu from 367.10m in CRD023
• CRL003206: 2.0m @ 13.60 g/t Ag and 0.29% Cu from 321.06m in CRD026

*Combined historical and recent assay results into a single result.

Compilation and statistical evaluation of results indicate a strong positive relationship between Cu and Ag grades within the SVS. Figure 1 is a scatter plot of Ag and Cu grades within samples that occur within modelled mineralisation only. This suggests a link with the SVS and East-West lode mineralisation, that is the primary target for developing the Redmoor Project. This association is thought to be separate from the known historical Redmoor lead (Pb) and silver (Ag) N-S lode that intersects the CRL defined tungsten trioxide ("WO3"), tin ("Sn") and Cu mineralised SVS (Figure 2).

These results are exploratory in nature. No assumptions have been made regarding the potential recoverability, payability, or economic contribution of silver within the Redmoor deposit. Further metallurgical and economic studies are required. A copper domain metallurgical study is planned as part of the 2025 SPF and SML-funded drilling program, which will evaluate the potential for silver recovery as a by-product from copper mineralisation at Redmoor.

All results are exhibited in Table 1, appended to the RNS, showing the original copper result and the re-analysed silver result. Some of these results may form part of highlight intersections, composite high-grade zones, or individual sample lengths previously reported through RNS releases from 2017 and 2018, and therefore may have an effect on these previously reported intersections.

Figure 1 Relationship between Silver Grade (Ag, ppm/g/t) and Copper Grade (Cu, %) in Modelled Mineralised Zones at Redmoor.

Figure 2 Plan view of the Redmoor currently defined SVS (blue), Redmoor historical workings, including N-S Pb-Ag lode (brown) and all drilling within the Redmoor Project area filtered by Ag > 20 g/t and coloured by Ag.

Relogging and Sampling Programme Status

Work continues to progress regarding the re-logging and sampling of the 2017 drillcore with a further three drillholes re-logged and sampled, representing 1072.51m so far relogged, with 83 new samples currently being analysed at ALS Laboratories, Loughrea. A further 5,949.63m of drillcore is remaining from 17 holes for re-logging and sampling, which will continue alongside the planned drilling programme for 2025.

Furthermore, CRL is awaiting results from 328 soil samples collected during the winter period, which aim at identifying new mineralised structures in the Redmoor region and generating further targets for future exploration and improved geological understanding of the regional geology.

Change in CRL Competent Person

As part of ongoing procurement for CRL's match grant funded UK Shared Prosperity Fund project, CRL have procured the services of Snowden Optiro for geoservices including; programme oversight, data review and analysis, modelling, reporting, and provision of Competent Person services.

CRL would like to thank James Mcfarlane of R2C Mining for his previous support and services as competent person.

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

About the CIOS Good Growth Fund and UK Shared Prosperity Fund

Cornwall and Isles of Scilly has been allocated £184 million for local investment through the Shared Prosperity Fund. This new approach to investment is designed to empower local leaders and communities, so they can make a real difference on the ground where it's needed the most.

UK Shared Prosperity Fund

Table 1: Results of recent re-analysis of historical diamond drillcore pulp samples outlining presence of silver with copper within the Redmoor Project.