Placing and Subscription to Raise £4 Million

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce it has raised gross proceeds of £4 million through the issue of 307,692,308 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 1.3 pence per new Ordinary Share ("Issue Price"), (the "Fundraise"). The Fundraise comprises the issue 123,076,922 placing shares ("Placing Shares") and 184,615,386 subscription shares ("Subscription Shares").

The Issue Price was priced at 1.3 pence representing the closing mid-market price of the Company's shares on 21 January 2026, being the latest practicable date prior to the publication of this announcement.

Demand for the Fundraise exceeded expectations and comprised both UK and international sophisticated and long-term ultra-high net worth investors, family offices and institutions.

The Fundraise will significantly accelerate the Company's Redmoor Tungsten-Tin-Copper Project in Cornwall ("Redmoor") into the next phase, at an opportune time for the development of critical mineral projects.

Net proceeds will be used to fund a 16,000 metre infill drilling programme and expand the operation and project team at Redmoor. This work is expected to substantially complete all the required drilling for a prefeasibility study ("PFS").

Cornwall Resources Limited, the Company's wholly owned subsidiary, has reserved one of the drilling rigs used to complete the 2025 Redmoor drilling programme and will in due course seek to add additional rigs to support the programme, which is anticipated to commence this quarter.

Charles Manners, Executive Chair of Strategic Minerals, commented:

"Tungsten prices are rising, driven by Chinese export restrictions, constrained supply, and robust global demand. Redmoor represents the highest-grade undeveloped tungsten resource in Europe, where the security of supply of strategic raw materials is of growing importance.

"Following significant inbound investor interest, Strategic Minerals now has an opportunity to capitalise on positive market dynamics by fast-tracking project development and funding an almost immediate follow-on infill drilling programme to undertake substantially all the drilling requirements of the planned PFS.

"We are delighted to have been able to capitalise on significant new investor interest and are grateful for the support of these new long term and strategic investors as we significantly and rapidly advance Redmoor into the next phase of development and toward production."

Issue of Adviser Shares

Additionally, the Company has issued 7,500,000 new Ordinary Shares at the Issue Price in consideration for fees payable pursuant to the Fundraise ("Adviser Shares").

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the 315,192,308 new Ordinary Shares, comprising the Placing Shares, Subscription Shares and Adviser Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Placing Shares, Subscription Shares, and Advisor Shares will commence on AIM at 8.00 a.m. on or around 27 January 2026 ("Admission").

The Placing Shares, Subscription Shares, and Adviser Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 2,684,490,257 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.

For further information on the Company, please visit www.strategicminerals.net or contact:

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. South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals has exercised an exclusive Call Option to acquire 100% of the project.