Redmoor-Results Expand Modelled Orebody

Latest drill results confirm presence of SVS mineralisation in the previously untested Redmoor Exploration Target - expanding the previously modelled orebody, including further high-grade tungsten and high-grade tin results

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, announces that its wholly owned subsidiary, Cornwall Resources Limited ("CRL"), has received assay results from drillholes CRD038 and CRD040 - the remaining holes from Pad 2 (of 3) within the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall. The results include further confirmation of high grades of tungsten and tin within the Sheeted Vein System ("SVS"). Final drillhole results from Pad 3 are expected to be delivered in the near term, ahead of the forthcoming MRE update.

CRD038 was aimed at testing the uppermost extent of the Redmoor JORC (2012) Exploration Target (the "Exploration Target") to identify the presence of SVS mineralisation, and CRD040 was aimed at twinning*1 historical drillhole (RM80_16B). Both holes are located within the high-grade, tin-dominant portion of the Redmoor deposit. The results indicate that both objectives have been achieved.

HIGHLIGHTS

• Successful identification of SVS mineralisation within the margins of the Exploration Target, supports the potential for any future expansion drilling to test and potentially convert further portions of the 4-8 Mt Exploration Target from the 2019 MRE to Mineral Resources, subject to further drilling and estimation.
• CRD038 intersected high-grade SVS mineralisation within the Exploration Target, with:

o The reported intersection being consistent with the recently updated deposit model, therefore confirming the Company's confidence in the model; and

o Providing additional geological support for the new deposit model ahead of the forthcoming Mineral Resource Estimate ("MRE") update.

• CRD038 and CRD040 both intersected SVS mineralisation containing high-grade tungsten and high-grade tin zones from a tin-dominant section of the Redmoor deposit, including significant copper; with CRD038 identifying a wide zone of continuous mineralisation returning 18.80m @ 0.38% WO3, 0.15% Sn & 0.32% Cu (0.59% WO3.Eq) from 444.50 m. See further drillhole intersection highlights below.
• Positive twinning results from CRD040, which further reinforce the validity of the 1980s datasets and their potential for inclusion in the Redmoor deposit model, providing more data for the forthcoming MRE, and associated time and cost savings for the planned infill drilling campaign, shortening the timeline to prefeasibility study ("PFS") by reducing the total drilling requirement.

DRILLHOLE HIGHLIGHTS

Highlights from drillhole CRD038:

• CRD038 intersected previously untested high-grade zones within SVS structures in this section of the Redmoor deposit from 308.47m to 554.15m, confirming mineralisation within the margins of the Exploration Target.
• Wide zone of continuous mineralisation returning 18.80m @ 0.38% WO3, 0.15% Sn & 0.32% Cu (0.59% WO3.Eq) from 444.50 m
• Multiple high-grade intervals dominated by tungsten, tin or copper were identified with results including: 5.49% WO3 over 0.7m from 456.50m; 0.86% Sn over 0.92m from 454.00m; and 1.67% Cu over 1.64m from 534.00m.

High-grade tungsten, tin and copper from both Lode-style and SVS-style mineralisation:

• 1.05m @ 0.73% WO3, 0.79% Sn & 1.05% Cu (1.66% WO3.Eq) from 408.95 m
• 4.00m @ 1.26% WO3, 0.29% Sn & 0.61% Cu (1.66% WO3.Eq) from 454.00 m, with

o 0.70m @ 5.49% WO3, 0.17% Sn & 0.41% Cu (5.75% WO3.Eq) from 456.50 m

• 1.00m @ 1.14% WO3, 0.03% Sn & 0.02% Cu (1.17% WO3.Eq) from 462.30 m
• 1.15m @ 0.74% WO3, 0.06% Sn & 1.37% Cu (1.15% WO3.Eq) from 486.05 m
• 0.58m @ 2.31% WO3, 0.02% Sn & 0.18% Cu (2.37% WO3.Eq) from 506.50 m

Highlights from drillhole CRD040:

• With a wide zone of continuous tin mineralisation was identified returning 14.11m @ 0.35% Sn, 0.03% WO3, & 0.02% Cu (0.33% WO3.Eq) from 312.00 m
• High-grade silver mineralisation was identified with a 0.80m interval returning @ 1.46% Sn, 0.01% WO3, & 2.31% Cu (1.83% WO3.Eq) and 43.6g/t Ag*2 from 410.20 m

High-grade tin-dominant zones with significant copper mineralisation in CRD040 include:

• 4.77m @ 0.74% Sn, 0.06% Cu & 0.06% WO3 (0.68% WO3.Eq) from 317.23 m, with

o 1.72m @ 1.15% Sn, 0.09% Cu & 0.13% WO3 (1.10% WO3.Eq) from 318.28 m

• 1.10m @ 0.97% Sn, 1.51% Cu & 0.02% WO3, (1.22% WO3.Eq) from 387.00 m
• 0.62m @ 2.85% Sn, 0.25% Cu & 0.01% WO3, (2.41% WO3.Eq) from 394.38 m
• 2.00m @ 1.20% Sn, 0.07% Cu & 0.01% WO3, (1.01% WO3.Eq) from 401.00 m
• 3.50m @ 0.24% Sn, 0.20% Cu & 0.78% WO3, (1.04% WO3.Eq) from 404.00 m

High-grade tungsten, tin and copper intervals from SVS-Style mineralisation include:

• 0.50m @ 5.41% WO3, 1.16% Sn & 1.12% Cu (6.65% WO3.Eq) from 407.00 m
• 1.00m @ 1.42% WO3, 0.03% Sn & 0.40% Cu (1.55% WO3.Eq) from 411.00 m
• 0.93m @ 0.66% WO3, 0.14% Sn & 0.15% Cu (0.82% WO3.Eq) from 416.17 m
• 2.18m @ 0.40% WO3, 0.04% Sn & 1.01% Cu (0.71% WO3.Eq) from 428.82 m, with

o 1.18m @ 0.51% WO3, 0.06% Sn & 1.51% Cu (0.96% WO3.Eq) from 428.82 m

Dennis Rowland, CRL Managing Director, said:

"At the outset of the 2025 drilling campaign, we established several key objectives, including confirmation of continuity of structure and grade within the resource, verification of validity of the 1980s drillhole datasets, and testing a portion of the Redmoor JORC Exploration Target.

"Having produced successful results for the first two objectives, with these expected to provide significant efficiencies for future drill programmes, results from CRD038 and CRD040 further strengthen these results, and provide the first drilling evidence of sheeted vein mineralisation within the current Redmoor Exploration Target. Anticipated results from Pad 3 are expected to expand upon the results from CRD038, with CRD037 having drilled through the core of a key portion of the Exploration Target.

"We believe these results may have a positive impact on the forthcoming MRE update, subject to estimation outcomes. I would like to thank the CRL technical team for their continued efforts throughout the drilling programme in delivering these positive results for the project."

Mark Burnett, Strategic Minerals Executive Director, said:

"CRL continues to report results consistent with our high expectations, having established clear targets and proving effective delivery. The Board notes the intersection of high-grade SVS mineralisation within the margins of the Exploration Target, and the implications this may have for resource growth, subject to modelling and estimation, as part of the upcoming MRE, and potential for further expansion in the future.

"The Company continues to believe that these positive results highlight Redmoor's position as the highest-grade, undeveloped tungsten resource in Europe, and amongst the highest grade globally."

Detail of analytical results from CRD038 and CRD040

Table 1: Drillhole collar data for CRD038 and CRD040.

Figure 1: Plan (top-down) view of the previously modelled high-grade domains (gold) used in the 2019 Redmoor MRE, showing CRD038 (right) and CRD040 (left) (in red) and other CRL and SWM drillhole traces (black). CRD038 is an infill hole aimed at demonstrating mineralisation continuity in a previously un-tested zone. CRD040 is a twin hole of SWM RM80_16B.

CRD038 and CRD040 (see Table 1 and Figure 1) were the second and third drillholes drilled from Pad 2 at Redmoor between October and December 2025. A total of 9 holes were drilled during the programme, with three drillholes from each of three drill pads. CRD038 was aimed at testing the uppermost extent of the Redmoor Exploration Target to identify the presence of SVS mineralisation, and CRD040 was aimed at twinning historical drillhole (RM80_16B). The results indicate that both objectives have been achieved with CRD040 adding additional validation of the historic datasets (see Figure 2), and CRD038 intersecting high-grade SVS mineralisation at the margins of the Exploration Target (see Figure 3), with the potential therefore for resource expansion subject to estimation outcomes and supporting the validity of the new deposit model. Hole CRD037, drilled from Pad 3, was designed to intersect the core zone of this portion of the Exploration Target, and results of this hole are expected shortly. Both holes are located within the high-grade, tin-dominant portion of the Redmoor deposit, with high-grade tungsten and high grade tin intersections highlighted above and are detailed below.

Figure 2: N-S Section view of the updated model, showing WO3 high-grade domains (red), Sn high-grade domains (green) and SVS envelope (yellow). Also showing CRD040 and SWM hole RM80_16B coloured by WO3.

Figure 3: N-S Oblique section view of the previous SVS model (gold), showing CRD038 coloured by WO3 and the trace clipping the previously modelled zone. This zone has limited drillhole coverage, and expands coverage into the margins of the exploration target zone.

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 contribution 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 CRD038 and CRD040 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.

Drillhole CRD038

Note*1 Twinned drillholes refer to new CRL drillholes which are aimed to intersect SVS mineralisation in close proximity to previous historical drilling undertaken by South West Minerals in 1978-1982, in order to verify the robustness of the historical drilling data, as well as test the continuity/reproducibility of grade and structure across the spacing between the drillholes. CRD038 aimed at twinning drillhole RM80_16b).

Note*3 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

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Drillhole CRD038