Redmoor Drilling Update

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to provide updates from its wholly owned subsidiary, Cornwall Resources Limited ("CRL"). CRL has successfully completed its fully-funded diamond drilling programme, at its wholly owned Redmoor Tungsten-Tin-Copper Project ("Redmoor"), in southeast Cornwall, which the Company understands to be the highest-grade undeveloped tungsten resource in Europe.

Highlights

• In total, 5,048.70 m of core has been drilled, logged and reviewed for sampling, with exceptional results from drillholes CRD033 and CRD034b, which were reported by the Company on 10 November and 25 November, respectively. Drill holes CRD035 and CRD036 are currently being processed and analysed by ALS Laboratories, Loughrea, with samples from CRD037 to be shipped imminently. Results from CRD035 are also expected imminently.
• Drill hole CRD041 successfully intersected the full extent of the Sheeted Vein System ("SVS"), passing through an underexplored section of the Redmoor deposit, identifying:
• Visible tungsten, tin and copper mineralisation within the intersected SVS.
• Confirming continuity of mineralised structures, and the SVS, to the westward most extent of the deposit that has currently been explored.
• Additional zones of mineralisation outside of the SVS, including a promising zone of visible cassiterite mineralisation, that may support further resource growth.
• Figures 1-2, below, highlight newly identified visible tin mineralisation in a 10 m wide (downhole) veined zone immediately north of the modelled Redmoor SVS Mineral Resource. And Figures 4-6, below, highlight mineralisation within sheeted veins from CRD041, consistent with the style typical of the Redmoor SVS deposit and exhibiting strong tin, tungsten and copper mineralisation.
• Mineralogical analysis initiated by Petrolab Ltd, with samples prepared for shipment to TOMRA for initial ore sorting amenability testworks. Metallurgical testwork for flowsheet design are progressing ahead of schedule, with flotation testing progressing well. Results are due in Q1 2026 and will inform the forthcoming Mineral Resource Estimate ("MRE") update.
• CRL notes the publication of the UK Critical Minerals Strategy (the "Strategy"), which includes a focus on Cornwall's critical minerals potential and ensuring a domestic supply of tungsten. The Strategy also includes new funding routes and increased support for access to existing funding, as well as potentially enabling policy support.

The core photographs shown are selected examples of logged drill core from CRD041 and are not necessarily representative of all mineralisation encountered.

Rowan Thorne, CRL Exploration Manager, said:

"We are happy to report that the 2025 exploration drilling programme at Redmoor has been completed ahead of schedule, within budget, and with exceptional results reported to-date from two drillholes.

"Drillhole CRD041 intersected the entire thickness of the Redmoor Sheeted Vein System, with mineralisation consistent with the deposit recorded by CRL's geologists, in a zone of the deposit that has been previously underexplored. As demonstrated by reported results from other holes, the visual zones of mineralisation within the SVS and logged by CRL geologists have so far shown good correlation with the wide and high-grade analytical results so far received.

"Further analysis is underway, with results from drillhole CRD035 due very soon, CRD036 currently at the lab for analysis, CRD037 scheduled for shipping, and CRD038 to follow shortly after. We are currently shipping a batch of samples each week, representing an entire hole, and expect to therefore complete all remaining shipments within December, with all analysis expected to be returned in time for the MRE update in Q1 2026."

Charles Manners, Strategic Minerals' Executive Chairman, said:

"The Board is impressed by the hard work and professionalism demonstrated by CRL's team in delivering the drilling programme, and the exceptional results to-date. With drilling complete, and samples being shipped regularly to the laboratory, there will be further updates to shareholders as the remainder of the programme is reported.

"Following the release of the UK Critical Minerals Strategy, and our engagement throughout its formation, we are positioning ourselves to highlight the strategic importance of the Redmoor Project, and its ability to meaningfully contribute to the stated aims of the Strategy."

Exploration Programme Update

Drillhole CRD041 has been successful in intersecting the SVS, and other mineralised structures towards the westward most extent of the deposit, and within an underexplored zone. The drillhole intersected a newly identified zone of visible mineralisation separate to and North of the SVS including fine-grained cassiterite (tin) (Figure 1 and 2). This tin zone falls outside of the Redmoor SVS exploration target*1, and subject to analysis, modelling, and other modifying factors could lead to further resource growth. The drillhole then passed through the full expected thickness of the SVS system intersecting SVS-style veins containing coarse wolframite (tungsten), chalcopyrite (copper) and cassiterite (tin) (Figure 4- 6). With CRD041 complete, Rig 2 has completed its planned three drillholes marking the end of the 2025 drilling programme (Table 1).

Further cutting of remaining drillhole core is progressing with additional sample batches to be shipped at regular intervals. All analysis will be completed, and reported, prior to the MRE update in Q1 2026.

Note *1: Alongside CRL's JORC (2012) MRE of 11.7Mt @ 0.56% WO₃, 0.16% Sn & 0.50%Cu (1.17% Sn.eq / 0.82% WO₃.eq), Redmoor has a JORC (2012) Exploration Target of 4-8Mt @ 1.0-1.4% Sn.eq.

Table 1: Drill hole collar details for drill holes from Pad 1, 2 and 3.

Note: CRD034a was drilled from the same position as CRD034b, for 41.2m of additional drilling, prior to abandonment

Metallurgical Study Update

Metallurgical testwork is progressing ahead of schedule. CRL is pleased to report that AHK-MP-UK is progressing with Stage 2 of the metallurgical testwork, testing the froth flotation aspect of the processing flowsheet, with results expected in Q1 2026. Additionally, 30 drill core samples from a variety of drillholes across the Redmoor resource have been delivered to Petrolab Ltd, who have been procured to undertake petrographic and mineralogical analyses to support the metallurgical testwork, as well as furthering the mineralogical understanding of the deposit. Combined, these workflows will contribute to improving the metallurgical and mineralogical understanding of the Redmoor Mineral Resource and be used in the MRE update expected in Q1 2026. Further samples are scheduled for shipment to TOMRA for initial ore sorting amenability testworks.

UK Critical Minerals Strategy:

For commentary from the Company on the newly released UK Critical Minerals Strategy, refer to the linked post: 251124 CRL_Blog Post_UK_Critical_Minerals_Strategy.pdf

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.