Redmoor - Update to Historical Tin Results

Update to Previously Underreported Tin Assay Results Following Reanalysis; and Results from Additional Sampling of CRD040

Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to provide an update on: analytical testworks focused on tin mineralisation following the completion of reanalysis of historical drill core pulp samples; and analysis from new drill core samples of historical and recent drill core from its Redmoor Tungsten-Tin-Copper Project ("Redmoor"), located in Cornwall, UK. Redmoor is being developed by the Company's wholly owned subsidiary, Cornwall Resources Limited ("CRL").

Highlights - Historical Sample Pulp Reanalysis

• 428 samples collected as part of the relogging and sampling programme of historical CRL drillholes (2017-2018) and previously analysed using the analytical method ME-MS61 were reanalysed for tin ("Sn") using method ME-MS85h, following the change in analysis methodology for tin in cassiterite form reported during the 2025 drilling programme (see RNS 10 November 2025), which showed method ME-MS85h was more appropriate for accurate reporting results for tin in cassiterite form.
• These samples represent previously unrecognised mineralised zones identified through relogging and reanalysis, but primarily unmineralised and minor mineralised infill sections between historic sample intersections, and samples from more tungsten-dominant mineralised zones.
• Re-analysis shows that 78% of the ME-MS85h results reported an increase in previously reported tin grades, including:

o An average increase of 280 parts per million ("ppm") in tin grade, representing moderate increases in most cases.

o Samples that originally assayed >500ppm report an average increase in tin grade of 15%.

o The 27 highest grading samples, which originally reported tin grades >0.14% Sn, report an average increase of 0.32% Sn, highlighting increases due to the improved digestion of cassiterite within more mineralised samples.

• A smaller number of results highlighted new high grade tin intersections within and outside of the Redmoor Sheeted Vein System ("SVS"), including: 1.65 m @ 1.52% Sn from 273.1 m in CRD027 and;

o 1.06 m @ 1.00% Sn from 235.00 m in CRD027 (previously reported as 0.01% Sn)

o 1.75 m @ 0.49% Sn from 352.35 m in CRD027 (previously reported as 0.01% Sn)

o 1.80 m @ 0.78% Sn from 163.10 m in CRD024 (previously reported as 0.02% Sn)

o 1.10 m @ 0.78% Sn from 244.75 m in CRD029 (previously reported as 0.01% Sn)

• Results include two wide and continuous intervals of tin mineralisation intercepted in 2018 drillholes, representing previously unrecognised intersections based on updated analytical methods:

o 8.10 m @ 0.49% Sn from 269.45 m in CRD027 (not previously reported)

o 10.85 m @ 0.33% Sn from 235.00 m in CRD029 (not previously reported)

These results are not considered material to the recently published Mineral Resource Estimate ("MRE").

Highlights - Additional Sampling of CRD040

• Additional samples from CRD040 were selected, uphole of the SVS, for analysis following the previous identification of non-SVS mineralisation. Results indicate the potential extension of mineralisation associated with the intersection of the North Tin Zone and highlighting the presence of additional tin mineralisation between the SVS and North Tin Zone in CRD040, including:

o 1.51 m @ 0.51% Sn from 286.49 m in sample CRL007079

o 1.00 m @ 0.33% Sn from 311.00 m in sample CRL007097

o 0.96 m @ 0.11% Sn and 0.16% WO3 from 252.00 m in CRL007054

Dennis Rowland, CRL Managing Director, said:

"It is encouraging to see that the results from the reanalysis using the ME-MS85h method have confirmed the previous underreporting of tin values from historical drill core analysis through the use of a different analytical method. These new tin values do not materially affect the new Redmoor deposit model or 2026 MRE but will contribute towards the next model update. Results will primarily aid in the identification of narrow cassiterite-only tin veins outside of the currently defined SVS and MRE.

"Reanalysis results continue to highlight the value add from our relogging and sampling programme. The programme continues with several aims, including a review of drillhole datasets, relogging and resampling remaining holes from CRL's 2017 programme, and infill sampling of highlighted sections of all CRL drillholes following the development of the new Redmoor deposit model. Additional samples from CRD040 highlight the potential for new mineralised zones to be generated or the potential for expansion of previously identified mineralised intersections.

"While Redmoor is predominantly a tungsten project, tin is a valuable co-product and a vital mineral that underpins modern industry.

"Further new samples and reanalysis samples from CRL's drill core have been shipped to ALS laboratories, Loughrea, Ireland, with the programme expected to continue alongside the ongoing drilling programme."

Mark Burnett, Strategic Minerals' Executive Director, said:

"The Redmoor team continue to add value to the project across multiple workstreams. The historical relogging and sampling programme together with the additional follow-up sampling of 2025 drill core is expected to continue to provide positive outputs alongside the new drilling programme.

"We will see a significant increase in activity at Redmoor in the near term, with a scheduled ramp-up of the ongoing resource infill drilling programme, and initiation of further pre-feasibility study programme activities. Further information on the programmes will be delivered in due course."

Overview of additional analytical results for tin from historical drill core samples

As reported on 10 November 2025, an improvement in analytical methodology was implemented for analysis undertaken by ALS laboratories, Loughrea, Ireland, for CRL's samples specifically to capture tin grades with dominant cassiterite mineralisation. For drillhole CRD033, this modification proved its effectiveness, and therefore the use of method ME-MS85h for tin was implemented for all subsequent drillholes and samples from the 2025 programme.

In addition, 428 samples that had originally been collected as part of the relogging and sampling programme of historical CRL drillholes (2017-2018) and analysed using the previous method (ME-MS61) were then reselected for analysis using ME-MS85h. Results show that 78% of the ME-MS85h results reported an increase in previously reported tin grades, and in a small number of cases significant increases in tin grades representing improved cassiterite digestion.

The new tin assay results from these historical samples more clearly reflect the known polymetallic style of mineralisation within the 90 m thick SVS, and its constituent high-grade zones, which contributed to the 2026 MRE (See RNS 26 March 2026), and also improve tin grades, and potential extensions of the new North Tin Zone discovered during the 2025 drilling programme (see RNS 26 February 2026).

These updated tin results do not materially affect the tonnage, grade or classification of the 2026 MRE for Redmoor, but will be incorporated into the next planned modelling update and MRE as part of the Company's PFS plan. The results do provide more definition of newly identified zones of mineralisation, and further metal content within the SVS high grade zones.

See Table 1 for highlights of the downhole composites and Appendix 1 for a full breakdown of individual sample results that contribute to the highlighted intersections. Reported widths are downhole and true widths are not yet known.

Redmoor SVS Mineralised Intercepts

Table 1: Highlights of downhole composite sample intervals returned from recently received results from historical drill core samples, now including updated Sn results, and calculated WO3% Eq. Composited values use a downhole length weighted average of grades.

The above intersections update those previously reported for tungsten (WO3) and copper (Cu) (see RNS 7 May 2025) from historical drillholes with the addition of tin (Sn) values, coupled with the identification of new tin mineralised zones based on standout tin assays. The tin grades within the SVS intersections are consistent with those previously reported at Redmoor from the tungsten-dominant zones of the deposit.

Sampling followed CRL's standard protocols, implementing the addition of analytical method ME-MS85h for Sn with XRF verification for samples reporting ≥0.14% on all previously analysed historical samples. All assays were performed by ALS Loughrea (ISO 17025). Snowden Optiro reviewed QA/QC; tin (Sn) results have passed QA/QC checks with no material issues identified and are reported following verification. The selected samples are considered representative of the mineralisation styles present and do not introduce material sampling bias.

Overview of additional analytical results from drillhole CRD040

Following the publication of the Redmoor 2026 MRE, CRL has completed a review of the resource and new geological model to identify and select priority zones within existing CRL drill core with the potential to contain mineralisation. These zones will be logged and, where appropriate, sampled for analysis. Results are aimed at confirming extensions of mineralisation, such as the North Tin Zone, identifying further mineralisation, and further improving geological certainty.

Through this process, 46 new samples from CRD040 were selected for analysis, with results highlighting additional tin-rich structures identified up-hole from the Redmoor SVS and downhole of the North Tin Zone in CRD040, coupled with extending the previously reported North Tin Zone intersection. Highlights from these results include:

o 1.51 m @ 0.51% Sn from 286.49 m in sample CRL007079

o 1.00 m @ 0.33% Sn from 311.00 m in sample CRL007097

o 0.96 m @ 0.11% Sn and 0.16% WO3 from 252.00 m in CRL007054

Table 2: Highlights of downhole composite sample intervals returned from recently received results from CRD040, updated composites and calculated WO3% Eq. Composited values use a downhole length weighted average of grades. * Contains results previously reported in RNS dated 5 February 2026.

These additional samples have also extended a previously reported North Tin Zone mineralised interval in CRD040 (see RNS 5 February 2026), with an originally reported interval showing 14.11 m @ 0.35% Sn, 0.03% WO3 and 0.03% Cu from 312.00 m, now returning 17.11 m @ 0.33% Sn, 0.02% WO3 and 0.04% Cu from 309.00 m. Additional tin-bearing structures were identified within the North Tin Zone, with a newly identified interval producing 2.51 m @ 0.34% Sn, 0.02% WO3 and 0.09% Cu from 286.49 m. These results will be incorporated into any new Mineral Resource in the future and will instruct further sampling on historical drillcore and other recently drilled drillholes.

Additional sampling of historical drillcore and programme updates

Through the purchase of a new CoreWise rotary diamond blade core saw, CRL has been able to accelerate its sampling of historical drillcore following the relogging process, with geological structures containing visible mineralisation sent to ALS Laboratories, Loughrea for analysis.

Currently, CRL has 119 samples from historical drillcore awaiting analysis at ALS Loughrea, along with an additional 201 samples from CRD041, drilled during the 2025 drilling campaign, awaiting analysis. Additional samples from historical drillcore (CRD013 and CRD002) are currently being prepared for shipment to ALS for analysis.

CRL has also sent samples to ALS Loughrea for analysis which were used in the recent ore sorting amenability study undertaken by TOMRA in Germany. The results from this analysis will inform CRL as to the effectiveness of ore sorting technology on any future potential ore from Redmoor and will form the basis for more comprehensive studies as part of the prefeasibility study programme.

Appendix 1: Individual Sample Results Table for Composites

Individual Laboratory Results Per Sample used to form highlighted composite intervals from tin pulp re-analyses

Sample ranges and numbers in bold represent those listed in Table 1, above. Sample details include sample number, intersected depths and interval length. Results are reported for WO₃, Cu, Sn and Ag values, with a calculation to represent total metal on a WO₃ Equivalent (WO₃.Eq) basis.

Note: WO₃ is calculated from W results by applying a factor of 1.26 to the result)

Note: WO3 Eq has been calculated using the following formula: WO3_%+(Sn_%*0.403)+(Cu_%*0.133)+(Ag_ppm*0.0046))

Metal equivalence assumptions are consistent with those used in the 2026 MRE

Appendix 2: Individual Sample Results Table for Composites

Individual Laboratory Results Per Sample used to form highlighted composite intervals in results from CRD040.

Sample ranges and numbers in bold represent those listed in Table 1, above. Sample details include sample number, intersected depths and interval length. Results are reported for WO₃, Cu, Sn and Ag values, with a calculation to represent total metal on a WO₃ Equivalent (WO₃.Eq) basis.