Redmoor – Very High-Grade Sample Results

Second drillhole results reinforce Redmoor's exceptional high-grade nature, with very high-grade sample intersections and multiple thick zones of mineralisation

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is delighted to announce that its wholly owned subsidiary, Cornwall Resources Limited ("CRL"), has received standout drillhole assay results from CRD034b, including very high-grades and multiple thick intersections. CRD034b was the second drill hole of the ongoing drilling campaign at the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

Downhole Composite Highlights:

Very High-Grade

• A very high-grade tungsten intersection: 1.10 m @ 7.19% WO3, 0.02% & 1.11% Cu (7.51% WO3.Eq*1) from 579.93 m in CRD034b - amongst the top 10 highest-grade sample results recorded at Redmoor from all previous CRL drilling campaigns.
• Further very-high-grade sample intervals, inside broader high-grade intersections:

o 1.05 m @ 4.93% WO3, 0.03% Cu & 0.01% Sn from 458.52 m (4.94% WO3.Eq)

o 1.00 m @ 2.73% WO3, 0.11% Cu & 0.03% Sn from 466.00 m (2.78% WO3.Eq)

o 0.70 m @ 2.65% WO3, 2.07% Cu & 0.14% Sn from 485.73 m (3.32% WO3.Eq)

o 0.50 m @ 1.96% WO3, 0.09% Cu & 0.01% Sn from 534.00 m (1.99% WO3.Eq)

o 0.75 m @ 1.21% WO3, 4.73% Cu & 0.05% Sn from 583.30 m (2.53% WO3.Eq)

Significant Widths

• Multiple, very wide, high-grade intersections of tungsten mineralisation (in comparison to global tungsten projects) confirmed within the Redmoor Sheeted Vein System ("SVS"), including:

o 15.46 m @ 0.72% WO3, 0.04% Sn & 0.66% Cu (0.93% WO3.Eq) from 456.04 m.

• Importantly, a deep intersect, which widens the previously modelled thickness of the Redmoor SVS in this zone of the deposit, returning 10.00 m @ 0.92% WO3, 0.02% Sn & 0.78% Cu (1.15% WO3.Eq) from 578.00 m, including the above 1.10m @ 7.19% WO3, and 0.75 m @ 2.53% WO3.Eq sample intervals.
• Results complement the high-grade "exceptional" intersections from CRD033, adding further high-grade zones of mineralisation with grades exceeding these previous results. High-grade intersections are listed in detail below.

Copper and Tin

• Strong copper results in several zones, most notably 3.46 m @ 1.25% WO3 plus 1.93% Cu and 0.08% Sn (1.84% WO3.Eq) from 463.54 m, and lode-style copper intervals, including tin, up to 1.00 m @ 2.14% Cu and 1.00% Sn from 515.00 m, adding significant potential value to the polymetallic system.

Silver

• Silver values of up to 84.8 g/t have been reported within copper-rich zones over a 0.75 m interval. Further work is underway to assess the potential for silver recovery; however, CRL makes no assumptions regarding its recoverability at this stage.

Figure 1: Highlighted high-grade intersection of containing 10.00 m @ 0.92% WO 3 , 0.02% Sn & 0.78% Cu (1.15% WO3.Eq) from 578.00 m from a zone of multiple stacked mineralised veins and wall rock within the Redmoor SVS deposit. This high-grade intersection (yellow arrows) comprises 10 individual sample sections (small double arrows) detailed in Appendix 1 below. Including 1.10 m @ 7.19% WO 3 , 0.02% & 1.11% Cu (7.51% WO 3 .Eq * 1 ) from 579.93 m These samples were visibly logged by CRL geologists containing wolframite, chalcopyrite and cassiterite.

Dennis Rowland, CRL Managing Director, said:

"These results highlight downhole intersections of impressive length and grade, up to 15.00 m at nearly 1% WO3, and significant single sample zones reaching 7.19% WO3 - amongst the top 10 sample intervals by grade recorded at Redmoor to date by the Company.

"The new results reported outside the existing Redmoor resource model indicate strong potential for material resource growth. Ongoing analysis of samples from additional drillholes is expected to further refine and enhance the understanding of Redmoor's resource potential.

"The continuation of very high-grade mineralisation in CRD034b reinforces Redmoor's status as Europe's highest-grade undeveloped tungsten resource, and among the highest-grade globally."

Mark Burnett, SML Executive Director, said:

"The Board is pleased with the impressive results reported from this drillhole, which highlight the exceptional nature of the Redmoor deposit. Overall, CRD034b has proved very valuable in the short-range continuity test as well as in finding excellent grade intersections. Redmoor sits in a commanding position to be a secure supply of minerals deemed critical to the UK and its peers."

Cllr Tim Dwelly, Cornwall Council's Cabinet Member for Economic Regeneration and Investment, said:

"We've invested almost £765,000 through our Good Growth Programme to support the latest drilling operation at Redmoor, and it's encouraging to see these latest results. Cornwall's critical minerals sector has enormous potential to create high-quality jobs, attract further private investment and strengthen security of supply for the minerals our economy increasingly relies on. That's why we're backing responsible critical minerals projects that we believe can deliver long-term economic value for Cornwall, while helping to meet national demand and deliver against the government's Industrial Strategy."

Highlight of CRD034b Intersections:

Laboratory assay results for drillhole CRD034b, the second hole of the 2025 drilling programme, confirm wide zones of high grade mineralisation and multiple sub-zones of very high-grade tungsten mineralisation, including copper, tin and silver, throughout the Redmoor Sheeted Vein System ("SVS") deposit intercepted by the drillhole, and also additional mineralised zones outside of the SVS (see Table 2 for sample intersection details), with highlights including:

• 3.45 m @ 0.48% WO3, 0.01% Sn & 0.41% Cu (0.60% WO3. Eq) from 291.55 m, including:

o 2.00 m @ 0.62% WO3, 0.01% Sn & 0.56% Cu from 293.00 m

• 15.46 m @ 0.72% WO3, 0.04% Sn, 0.66% Cu (0.93% WO3.Eq) from 456.04 m, including:

o 3.53 m @ 1.67% WO3, 0.02% Sn & 0.27% Cu from 456.04 m, containing:

§ 1.05 m @ 4.93% WO3, 0.01% Sn & 0.04% Cu from 458.52 m

o 3.46 m @ 1.25% WO3, 0.08% Sn, 1.93% Cu and 13.92 g/t Ag from 463.54 m, containing:

§ 1.00 m @ 2.73% WO3, 0.03% Sn & 0.11% Cu from 466.00 m.

o 0.96 m @ 0.50% WO3, 0.03% Sn & 0.31% Cu from 470.54 m

• 4.00 m @ 0.51% WO3, 0.03% Sn & 0.42% Cu (0.65% WO3. Eq) from 484.00 m, including:

o 0.70 m @ 2.65% WO3, 0.14% Sn & 2.07% Cu from 485.73 m

• 2.85 m @ 0.15% WO3, 0.36% Sn, 0.90% Cu (0.69% WO3. Eq) and 13.50 g/t Ag from 515.00 m, including:

o 1.00 m @ 2.03% Cu, 1.01% Sn and 32.60 g/t Ag from 515.00m

• 1.55 m @ 0.64% WO3, 0.01% Sn & 0.08% Cu (0.67% WO3. Eq) from 534.00 m, including:

o 0.50 m @ 1.96% WO3, 0.01% Sn & 0.09% Cu from 534.00 m

• 10.00 m @ 0.92% WO3, 0.02% Sn & 0.78% Cu (1.15% WO3. Eq) from 578.00 m, including:

o 1.10 m @ 7.19% WO3, 0.02% Sn, 1.11% Cu & 25.00 g/t Ag from 579.93 m

o 0.75 m @ 1.21% WO3, 0.05% Sn, 4.73% Cu & 84.80 g/t Ag from 583.30 m

o 0.50 m @ 0.27% WO3, 0.01% Sn, 0.64% Cu & 21.60 g/t Ag from 587.50 m

Detail of analytical results form CRD034b

CRD034b was drilled south to intersect the Redmoor SVS mineralisation. Details of the collar and survey setup are provided in Table 1.

Table 1: Drillhole collar data for CRD034b, drilled from the same pad as previously reported CRD033

Laboratory assay results for drillhole CRD034b have returned further exceptional results from the current drilling programme, containing very-high-grade results, with tungsten (WO3) grades reaching 7.19%, copper (Cu) grades reaching 4.73% and tin (Sn) grades reaching 1.01%, from a zone of the deposit known to be lower in tin concentrations, coupled with silver (Ag) grades of up to 84.8 g/t correlated with copper mineralisation. The silver mineralisation encountered is highly encouraging and is currently undergoing further metallurgical testwork to confirm its economic importance with regards to the Redmoor project, prior to modelling as part of the forthcoming Mineral Resource estimate ("MRE") update, with further updates and commentary expected soon.

These results continue to exhibit the strong continuity of structure and grade within the SVS orebody, with mineralised continuity confirmed eastwards and correlated to high-grade zones previously drilled in CRD033. The final 35.00 m of CRD034b was successful in drilling a previously untested portion of a projected high-grade zone, this section returned the wide, high-grade interval of 10.00 m @ 0.92% WO3, 0.02% Sn & 0.78% Cu (1.15% WO3.Eq) from 578.00 m, including 1.10 m @ 7.19% WO3, 0.02% & 1.11% Cu (7.51% WO3.Eq*1) from 579.93 m, along with strong grades of silver (Ag) up to 84.8 g/t (Figure 1, above).

Figure 2, include a drillhole trace of CRD034b, the hole was planned as an infill hole to test short spaced continuity of structure and grade between other nearby spaced drillholes. The data from CRD034b and other holes will be used in the assessment for future drill spacings. It also serves to demonstrate that the SVS within this portion of the deposit is wider than previously modelled, containing further high-grade zones of mineralisation.

Figure 2: Plan view of the deposit with the route of CRD034b (in Red), with previous CRL and South West Minerals drillholes (in Black). CRD034b is an infill hole aimed at testing short spaced continuity of structure and grade.

Figure 3, includes a cross-section of the borehole, highlighting reported intersections and the previously modelled high-grade zones that form the basis of the 2019 Redmoor MRE.

Figure 3: Cross-section of CRD034b, including sample intersection grades, and grade bars representing WO3 results. Zones in pink represent the previously modelled high-grade zones that form the basis of Redmoor mineral resource. The modelled high-grade zones towards the bottom of the hole, falls short of the drill holes trajectory, and following the intersection of a further significant width high grade intersection in CRD034b highlights the potential for resource growth should the zone be extended.

Table 2 below, contains the details of the composite sample intersections including sample depths, thickness, metal content, and tungsten equivalent calculations, as well as the mineralisation style recorded by CRL geologists. The tungsten equivalent (WO3. Eq.) highlights the value-add from tin and copper to the tungsten grades of the sample intervals. Appendix 1 includes full details of each sample included in these composite intersections.

Table 2: Highlights of downhole composite sample intersections returned from recently received results from drillhole CRD034b, showing interval lengths and subsequent assay results for WO3, Sn & Cu. A tungsten equivalent results has also been calculated. Composited values use a downhole length weighted average of grades.

Note*1 Tungsten Equivalent (WO3.Eq) Calculation: WO₃ (EQ)% = WO₃%+(Sn% x 0.82) + (Cu% x 0.27)

Commodity price assumptions: WO₃ US$ 43,000/t, Sn US$ 32,525/t, Cu US$ 9,429/t. Using the 12-month average to September 2025. Recovery assumptions: total WO₃ recovery 72%, total Sn recovery 68% and total Cu recovery 85%. Payability assumptions of 81%, 90% and 90% respectively.

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

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.