Leigh Creek – Completion of Sale

Transaction closed following FIRB approval; layered consideration retains copper upside to support continued advancement of the Redmoor Tungsten-Copper-Tin Project

Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce that Australian Foreign Investment Review Board ("FIRB") approval has been received and the sale of Leigh Creek Copper Mine Pty Ltd ("LCCM") to South Pacific Minerals Investments Pty Ltd, trading as Cuprum Metals ("Cuprum"), has now completed.

As announced on 3 September 2026, the consideration comprises:

• Cash: A$750,000 in total, including A$500,000 previously held in escrow, which has now been released to the Company.
• Shares: up to 19.9% of the ordinary shares in a new company which Cuprum intends to list on a recognised stock exchange, capped at a value of A$3,000,000. If such shares are not issued within 3 years of or are less than the value of A$3,000,000, any shortfall is to be added to earn-out payments.
• Royalty: a 2% Net Smelter Royalty on the first 24,900 tonnes of copper produced, with a 1% buy-back option for Cuprum on payment of A$1,500,000.
• Earn-out: 20% of half-yearly operating cash flows from the start of commercial production, up to a value of A$4,000,000.

Proceeds will support the continued advancement of the Company's flagship Redmoor Tungsten-Copper-Tin Project in southeast Cornwall.

Charles Manners, Executive Chairman of Strategic Minerals, commented:

"We are pleased to have completed the sale of Leigh Creek. Through our equity, royalty and earn-out interests, Strategic Minerals will be a significant stakeholder in a future copper mine, and we look forward to continuing to work closely with the Cuprum team as they advance the project. We consider the prospects for Leigh Creek to be very positive in the current market environment for copper. The cash now released from the project together with potential future payments from our various retained interests in the project will be used to further accelerate activities at our Redmoor project in Cornwall which remains our key focus. "

Matthew Salthouse, Director of Cuprum, commented:

"Cuprum Metals is pleased to have concluded the acquisition of the Leigh Creek Copper Mine asset from Strategic Minerals. We look forward to restarting Leigh Creek and having Strategic Minerals as a cornerstone investor, and especially to their continuing support as Cuprum moves down the pathway to production."

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia. In November 2026, the Company completed a sale of Leigh Creek Copper Mine to South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals providing upfront cash with ongoing copper exposure through layered consideration comprising shares, royalties and earn-out. Proceeds will be utilised to further advance the flagship Redmoor Project.