Redmoor: Further Positive Drill 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 drillhole CRD041 from the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

Results confirm the continuity of the Sheeted Vein System ("SVS") containing high-grade tungsten- and tin-dominant mineralisation, with copper and silver mineralisation also present, in the westward extent of the 2019 Redmoor JORC (2012) Redmoor Mineral Resource. Results also confirm the presence of additional non-SVS mineralised zones to the north of the SVS.

The western portion of the Redmoor deposit, more distal from the granite, forms a zone containing a higher proportion of tin-dominant, rather than tungsten-dominant, mineralisation with higher grades of tin. By comparison, the eastern and central portions of the deposit contain a higher proportion of tungsten-dominant mineralisation with higher tungsten grades. The polymetallic composition of the deposit adds value as shown by the WO3.eq*1 calculations.

SVS Downhole Composite Intersections Highlights

Multiple higher-grade intervals within high-grade tungsten- or high-grade tin-dominant structures including copper were identified with results, including:

o 0.94% WO3 and 0.46% Cu over 0.95m from 507.00 m*2

o 1.57% Sn and 1.55% Cu over 2.18m from 575.95 m

o 2.54% Sn and 3.38% Cu over 0.88m from 580.62 m

High-grade tungsten equivalent ("WO3.eq") intersections from SVS-style and lode-style structures containing tungsten, tin and copper mineralisation within the SVS in the western portion of the resource (see Figure 1 & 2), which is tin-dominant:

• 9.18m @ 0.52% Sn, 0.17% Cu & 0.06% WO3 (0.53% WO3.Eq) from 528.92 m, with

o 3.40m @ 1.00% Sn, 0.15% Cu & 0.02% WO3 (0.89% WO3.Eq) from 531.25 m

o 1.35m @ 0.70% Sn, 0.31% Cu & 0.19% WO3 (0.85% WO3.Eq) from 536.75 m

• 6.85m @ 0.28% Sn, 0.30% Cu & 0.11% WO3 (0.42% WO3.Eq) from 553.70 m, with

o 1.30m @ 0.11% Sn, 0.22% Cu & 0.45% WO3 (0.60% WO3.Eq) from 553.70 m

o 1.00m @ 0.86% Sn, 0.47% Cu & 0.18% WO3 (1.01% WO3.Eq) from 556.00 m

• 8.10m @ 0.50% Sn, 0.65% Cu & 0.25% WO3 (0.84% WO3.Eq) from 571.00 m, with

o 1.45m @ 0.26% Sn, 0.80% Cu & 0.86% WO3 (1.29% WO3.Eq) from 571.00 m

o 2.18m @ 1.57% Sn, 1.55% Cu & 0.22% WO3 (1.93% WO3.Eq) from 575.95 m

• 4.68m @ 0.66% Sn, 0.97% Cu & 0.03% WO3 (0.83% WO3.Eq) from 580.62 m, with

o 0.88m @ 2.54% Sn, 3.38% Cu & 0.01% WO3 (3.00% WO3.Eq) from 580.62 m

o 1.17m @ 0.50% Sn, 0.75% Cu & 0.01% WO3 (0.62% WO3.Eq) from 584.13 m

Non-SVS Downhole Intersections

• CRD041 intersected a new zone of non-SVS mineralisation with visible cassiterite (see RNS: 01 December 2025) (see Figure 3). With a sample intersect of 4.00m @ 0.25% Sn, 0.01% Cu from 476.00m, including:

o 2.00m @ 0.40% Sn, 0.02% Cu & 0.00 WO3 (0.34% WO3.Eq) from 478.00 m

• Further information on this newly identified, tin-dominant, non-SVS zone will follow shortly, alongside modelling outputs which are expected to define this zone
• CRD041 also intersected additional zones of mineralisation outside of the current resource model, including two intervals containing tungsten, tin and copper with silver*1 intersections, returning grades of:

o 0.65m @ 0.22% WO3, 0.24% Sn & 3.19% Cu (1.28% WO3.Eq) also containing 75.8g/t Ag from 191.85 m,

o 4.00m @ 0.17% WO3, 0.11% Sn & 0.32% Cu (0.34% WO3.Eq) also containing 19.1g/t Ag*3 from 197.00 m, and

Figure 1: Long section looking south of the 2019 SVS model (shown in gold), showing the trace of CRD041. Also showing the updated granite model surface (pink) at depth and other drillholes (black). Trace of CRD041 shown to pass into the under-explored, tin-dominant, western portion of the SVS.

Dennis Rowland, CRL Managing Director, said:

"Drillhole CRD041 intersected the Redmoor SVS, in the western extent of the current Mineral Resource, within an area of the deposit where the mineral zonation has a higher proportion of tin-dominant high-grade zones. The drillhole results contain multiple intersections of tungsten- and tin-dominant mineralised zones from within the SVS, with these zones also classified as high-grade on a tungsten equivalent basis.

Additional intersections within the non-SVS section of the drillhole indicate the potential for further zones of mineralisation outside of the current MRE which may, subject to further delineation, estimation and assessment of Reasonable Prospects for Eventual Economic Extraction ("RPEEE"), support future resource definition."

Mark Burnett, Strategic Minerals Executive Director, said:

"The 2025 drill programme at Redmoor has shown the high-grade nature of the SVS deposit, as well as its zonation. With the structural shifts in global metal prices, especially for tungsten and tin, Redmoor's multicommodity composition has the potential to provide significant economic benefits.

The Company is on schedule to complete its Shared Prosperity Fund match grant-funded activities by the end of Q1 2026, including the new Mineral Resource Estimate and economics updates, which we expect will further highlight the potential of Redmoor as one of the highest grade, undeveloped, tungsten resources in Europe."

Detail of analytical results from CRD041

CRD041 (see Table 1, and Figure 1, 2 & 3) was the final drillhole from Pad 3 at Redmoor between October and December 2025. CRD039, the second last drillhole, has been delayed at the laboratory due to additional QAQC checks, but is expected to be reported shortly.

Table 1: Drillhole collar data for CRD041.

Figure 2: Plan (top-down) view of the previously modelled high-grade domains (shown in gold) used in the 2019 Redmoor MRE, showing CRD041 (red) and other CRL and SWM drillhole traces (black).

Figure 3: Cross-sectional view of the updated model, showing high-grade domains (red and green) identified during historical drilling, and CRD041 showing the mineralised continuity of these structures' westwards.

At the outset of the 2025 drilling campaign, the Company 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. Each of these targets have been met and are expected to both strengthen the deposit model and produce significant benefits to future drilling programmes. A further objective was to validate the potential presence of additional mineralised structures outside of the Redmoor SVS, which could add to the current Mineral Resource, subject to estimation. The results from CRD039 are expected shortly, concluding the 2026 drilling programme.

As shown in Figure 2, the western, tin-dominant, extent of the deposit is less explored by drilling than the eastern and central portions. CRD041's objective was to identify the presence and continuity of SVS mineralisation within the western portion of the deposit and to further identify and confirm the presence of additional non-SVS mineralised zones as predicted by the current geological model following the review of historical exploration data.

CRD041 successfully intersected the full section of the SVS (see Table 2). This portion of the deposit is known to contain a greater proportion of high-grade, tin-dominant zones when compared to the rest of the deposit - with the central and eastern portions containing more higher-grade tungsten-dominant zones (see Figure 3).

Historical drilling intersected mineralised intervals in this area outside of the currently modelled Redmoor SVS resource. However, through drilling CRD041, CRL was able to identify new structures hosting tin, tungsten and copper mineralisation that were not previously delineated. This includes the newly identified tin zone detailed in the highlights above. Following review of historical datasets other structures with sample results have been identified, with examples below.

Examples of historical intercepts located outside and north of the JORC (2012) Redmoor 2019 Resource Model and are provided for context:

• RM82_24 (intersects not previously reported by CRL, data reviewed and verified by Competent Person) containing:

o 0.70m @ 3.40% Sn and 0.71% Cu from 148.92 m

o 0.86m @ 0.47% Sn and 0.21% Cu from 288.34 m, and

o 2.00m @ 0.60% Sn and 0.24% Cu from 408.00 m.

• RM82_24A (intersects not previously reported by CRL, data reviewed and verified by Competent Person) containing:

o 2.00m @ 0.38% Sn and 0.02% Cu from 252.00 m

o 2.00m @ 0.26% Sn and 0.03% Cu from 318.00 m

• CRD027 (results from reanalysis programme previously reported in RNS 03 December 2024, data reviewed and verified by Competent Person) containing:

o 1.00m @ 1.33% Sn, 0.01% WO3 & 0.02% Cu from 255.03 m

o 1.00m @ 0.39% Sn and 0.11% Cu from 354.10 m, and

o 1.00m @ 2.56% Sn, 1.49% WO3 & 0.09% Cu from 371.35 m

• CRD029 (results from reanalysis programme previously reported in RNS 02 August 2024, data reviewed and verified by Competent Person) containing:

o 1.06m @ 0.13% Sn, 0.21% WO3 & and 0.10% Cu from 295.34 m

o 1.00m @ 0.98% Sn and 0.10% Cu from 352.06 m,

o 1.24m @ 0.84% Sn and 0.06% Cu from 364.27 m,

o 1.00m @ 5.13% Sn and 0.01% Cu from 366.51 m,

o 2.00m @ 0.48% Sn and 0.13% Cu from 381.50 m,

o 1.00m @ 0.96% Sn and 0.01% Cu from 416.82 m

Table 2: Highlights of downhole composite sample intersections returned from recently received results from drillhole CRD041 showing interval lengths and subsequent assay results for WO3, Sn & Cu. A tungsten equivalent result has also been calculated*2. Composited values use a downhole length weighted average of grades.

Note1 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.

Note*2 Depths are downhole, not vertical depth, and longer due to the more northerly collar location of Pad 3.

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.