Redmoor Drilling Continues to Deliver

Third drillhole results confirm good structural and grade continuity within the Redmoor SVS high-grade zones, with significant cost advantages for future infill drilling

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 exceptional drillhole assay results from CRD035, including very high-grades and multiple thick intersections. CRD035 was the third drillhole from Pad 1 of the completed 9-hole programme at the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

Downhole Composite Highlights:

Very High-Grade

• A very high-grade tungsten intersection: 0.97 m @ 7.52% WO3, 0.03% Sn & 0.87% Cu (7.78% WO3.Eq*1) from 433.29 m in CRD035, which correlates to the previous very high-grade zone reported from drillhole CRD034b (see Figure 1).
• Further very-high-grade sample intervals, inside broader high-grade intersections:

o 0.50 m @ 1.81% WO3, 0.25% Cu & 0.02% Sn from 409.70 m (1.89% WO3.Eq)

o 0.86 m @ 2.86% WO3, 0.83% Cu & 0.08% Sn from 429.00 m (3.15% WO3.Eq)

o 1.11 m @ 1.10% WO3, 0.17% Cu & 0.01% Sn from 449.00 m (1.16% WO3.Eq)

o 0.60 m @ 3.05% WO3, 0.41% Cu & 0.05% Sn from 460.83 m (3.20% WO3.Eq)

o 0.50 m @ 1.37% WO3, 0.73% Cu & 0.02% Sn from 473.24 m (1.59% WO3.Eq)

Significant Widths

• Multiple, very wide, high-grade intersections of tungsten mineralisation (in comparison to global tungsten projects) confirming continuity along strike within the Redmoor Sheeted Vein System ("SVS") between previously reported drillholes, including:

o 16.00 m @ 0.68% WO3, 0.10% Sn & 0.86% Cu (0.99% WO3.Eq) from 420.00 m.

Continuity of Structure and Grade

• Results confirm good continuity of mineralised structures and grade of mineralisation through the SVS high grade zones, complementing the reported high-grade intersections from CRD033 and CRD034b.
• This will positively affect the required spacing for future infill drilling to convert portions of the Mineral Resource to Indicated classification, as part of a prefeasibility study ("PFS") work programme, providing significant cost efficiencies compared to previous assumptions. It should be noted, however, that drill spacing alone does not meet all classification requirements.

Copper and Tin

• Exceptional copper results in several zones, most notably 4.65 m @ 0.57% WO3 plus 2.46% Cu and 0.30% Sn (1.48% WO3.Eq) from 427.00 m, and very high-grade copper intervals of up to 0.50 m @ 5.04% Cu from 474.40 m. Coupled with high-grade tin zones of 1.00 m @ 1.20% Sn, 1.41% Cu and 0.16% WO3 (1.52% WO3.Eq) from 427.00 m.

Silver

• CRD035, like CRD033 and CRD034b, confirms elevated silver values within the copper-rich zones. With silver values of up to 67.2 g/t having been reported over a 0.50 m interval from 474.40 m. Further silver analysis and commentary will follow completion of metallurgical testworks and resource modelling, noting there is no assumption at this stage that silver will be recoverable or economically reportable in the Mineral Resource.

Figure 1 : Section of boxed drill core from CRD035, previously released in RNS: 11 September 2025, illustrating quartz-greisen sheeted veins typical of the Redmoor deposit, containing visible wolframite and chalcopyrite mineralisation within the vein system. This contains the above very-high-grade intersection of 0.97 m @ 7.52% WO 3 , 0.03% Sn & 0.87% Cu (7.78% WO 3 .Eq * 1 ) from 433.29 m, representing the quartz vein, with large wolframites, seen in rows 6 and 7 of the photo, and further mineralised structures throughout forming part of the wider 16m zone.

Dennis Rowland, CRL Managing Director, said:

"CRD035, the third and final drillhole to be reported from Pad 1, was designed to further test the continuity of structure and grade within the Redmoor SVS's high-grade zones. I'm delighted to say that this has been successful, with all three boreholes from Pad 1 showing good continuity and reflecting the reliability of the existing resource model.

It is therefore expected that the previous assumptions on infill spacing for PFS will be significantly improved, allowing for a small expansion of the spacing between drillhole intersections of the deposit. This will mean fewer holes are required to potentially convert portions of the Mineral Resource to Indicated, subject to results and other factors, at a lower overall cost compared to historical assumptions. This is an impressive outcome for the project and its path to feasibility.

Results from CRD035 contain further very-high grades and wide intersections and continue to highlight Redmoor's high-grade nature in comparison to almost all global tungsten projects. Results from Pads 2 and 3 will be reported in due course."

Mark Burnett, Strategic Minerals Executive Director, said:

"It is important to highlight the successful completion of the short-spaced continuity testing, and the positive impacts this will have on future drilling requirements and the route to feasibility for Redmoor.

This year's drilling programme at Redmoor had two further purposes: infilling a portion of the Redmoor exploration target and increasing the resource footprint; and twinning 1980s drillholes to enable the inclusion of these historical drillholes in the upcoming resource model update. Should these also be successful, we anticipate further resource growth and additional efficiencies for future infill drilling as part of a PFS programme."

Highlight of CRD035 Intersections:

Laboratory assay results for drillhole CRD035, the third hole of the 2025 drilling programme, confirm the continuity of numerous wide zones of high-grade mineralisation and multiple sub-zones of very high-grade tungsten mineralisation, including copper, tin and silver, throughout the Redmoor SVS, with highlights including:

• 16.00 m @ 0.68% WO3, 0.10% Sn & 0.86% Cu (0.99% WO3. Eq) from 420.00 m, including:

o 4.65 m @ 0.57% WO3, 0.30% Sn & 2.46% Cu from 427.00 m, and

o 0.97 m @ 7.52% WO3, 0.03% Sn & 0.87% Cu from 433.29 m

• 3.11 m @ 0.50% WO3, 0.02% Sn, 0.24% Cu (0.58% WO3.Eq) from 447.00 m, including:

o 1.16m @ 1.35% WO3, 0.02% Sn & 0.63% Cu from 448.50 m

• 15.00 m @ 0.23% WO3, 0.12% Sn, 0.42% Cu (0.44% WO3.Eq) from 453.00 m, including:

o 5.60 m @ 0.52% WO3, 0.12% Sn & 0.42% Cu from 456.00 m, containing:

§ 0.60 m @ 3.05% WO3, 0.27% Sn & 0.54% Cu from 460.83 m

o 1.14 m @ 0.49% WO3, 0.04% Sn & 0.63% Cu from 465.45 m

• 4.59 m @ 0.23% WO3, 0.01% Sn & 0.76% Cu (0.44% WO3. Eq) from 472.08 m, including:

o 0.50 m @ 1.37% WO3, 0.02% Sn & 0.73% Cu from 473.24 m, and

o 0.50 m @ 0.61% WO3, 0.03% Sn & 5.04% Cu and 67.2 g/t Ag from 474.40 m.

Detail of analytical results from CRD035

Figure 2: Plan view of the deposit with the route of CRD035 (in Red), with previous CRL and South West Minerals drillholes (in Black). CRD035 is an infill hole aimed at testing short-spaced continuity of structure and grade.

CRD035 was drilled south to intersect the Redmoor SVS mineralisation. Details of the collar and survey setup are provided in Table 1. Figure 2 includes a drillhole trace of CRD035. The hole was planned as an infill hole to test short-spaced continuity of structure and grade between other nearby spaced drillholes, including CRD033 and CRD034b.

Table 1: Drillhole collar data for CRD035, drilled from the same pad as previously reported CRD033 and CRD034b.

Laboratory assay results for drillhole CRD035 have returned further good results from the current drilling programme, containing very-high-grade results, with tungsten (WO3) grades reaching 7.52%, copper (Cu) grades reaching 5.04%, and tin (Sn) grades reaching 1.41%, from a zone of the deposit known to be lower in tin concentrations, coupled with silver (Ag) grades of up to 67.2 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.

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.

The data from CRD035, and the short-spaced continuity drilling study, has provided valuable confirmation of geological and grade continuity within the SVS. Both visual assessment and a statistical review of the new data support the assumptions used in planning the next phase of resource infill drilling. The results indicate that an Indicated Mineral Resource classification could typically be achieved at drill spacings slightly wider than those assumed following the completion of the Scoping Study (2020). CRL notes that drill spacing alone does not determine classification; geological confidence also reflects domaining, structural interpretation, data quality, and geostatistical validation. Nevertheless, this refinement provides increased confidence in the planned infill programme and the ability to potentially upgrade a large proportion of the resource, subject to funding.

Figure 3: Cross-section of CRD035, 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, highlighting the strong correlation between modelled high-grade zones and drilling intersections from CRD035.

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 CRD035 showing interval lengths and subsequent assay results for WO3, Sn & Cu. A tungsten equivalent result 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.