Redmoor – Update to Previous Drilling Results

CRL 2025 drilling

·    Diamond drill core was aligned prior to splitting and halved using a core saw, based on geological boundaries and differing mineralised structures, typically of 1 m sample length, and up to 2 m in less mineralised zones. Sections that did not appear mineralised were not sampled, however CRD033 was sampled in its entirety to collect a full geochemical profile of the orebody.

·    Drilling was aligned as close as possible to perpendicular to the SVS.

CRL 2017-2018 drilling

·    Core was aligned prior to splitting and halved using a core saw, based on geological boundaries, typically of 1 m sample length, and up to 2.5 m in less mineralised zones. Sections that did not appear mineralised were not sampled.

·    Drilling was orientated where possible to intersect the target as closely as possible to perpendicular. The deposit contains multiple different mineralisation sets, and so for this reason and limitations of access, not all holes comply with this.

SWM 1980-1983 drilling

·    In addition to CRL drilling, South West Minerals (SWM) completed a diamond-core surface programme in 1980-1983. These data are used alongside CRL drilling within the Redmoor database. Historical SWM assays were retrospectively verified at the time by Robertson Research International with independent check assays at Alfred H. Knight, and later by SRK/NAE core resampling; Snowden Optiro's 2025 review and twin-hole work provide additional verification for use in current reporting

·    The drilling was orientated to intersect the mineralisation at high angles with the exception, in many cases, of Johnson's Lode as this dips in the opposite direction to the other lodes and SVS. The holes were sampled for assaying and density measurements.

CRL drilling

·    For the 2025 campaign, all drilling was carried out by diamond core drilling, of HQ to NQ diameter (63.5-47.6mm).

·    Core was oriented through all of the core drilled where possible, using a Reflex ACTx system.

·    For the 2018 campaign, all drilling was carried out by diamond core drilling, of HQ to NQ diameter (63.5-47.6mm).

·    Core was oriented through the majority of the core drilled, using a Reflex ACT III system.

·    For the 2017 campaign, all drilling was carried out by diamond core drilling, of HQ3 to BTW diameter (61-42mm).

·    Core was generally oriented within the mineralised zone, using a Reflex ACT II system.

SWM drilling

·    All historic drillholes were completed using HQ, NQ or BQ diamond core.

·    The holes were primarily orientated to intersect the northerly dipping vein system from the north, however a small number were orientated to intercept southerly dipping lodes.

CRL 2025 drilling

·    Recovery was generally good through mineralisation and entirety of the drill holes, and typically better than 95%. All core was joined, measured by run length, and correlated to core blocks, and recoveries were measured for each run drilled within 24 hours of being drilled.

·    Core recoveries were checked against drilling records to ensure consistency.

·    Broken ground where structures were encountered and any core loss recorded clearly logged as such.

·    Other than where broken ground is encountered, no negative relationship was seen between recovery and mineralisation.

CRL 2018 drilling

·    Recoveries were generally good through mineralisation, and typically better than 90%. Recoveries were measured for each run drilled, normally within 24 hours of the hole being drilled.

·    Voids where encountered were clearly logged as such.

·    Other than where an area may have been mined, as mentioned above, no negative relationship was seen between recovery and mineralization and this has been reviewed by Snowden Optiro.

CRL 2017 drilling

·    Recoveries were generally good through mineralisation, and typically better than 90%. Recoveries were measured for each run drilled, normally within 24 hours of the hole being drilled.

·    Triple Tube drilling was used where possible given available equipment and core diameter, to enable precise definition of recovery.

·    Voids where encountered were clearly logged as such.

·    Other than where an area may have been mined, as mentioned above, no negative relationship was seen between recovery and grade.

SWM drilling

·    All historic drillholes were completed using HQ, NQ or BQ diamond core. Core recovery was recorded on the logs and the results suggest that the core recovery was relatively high, typically ranging from 80% to 100%, the higher losses being in areas of poor ground. Snowden Optiro is not aware of specific measures taken to reduce core loss but where excessive losses were experienced holes were typically and often re-drilled. There is no apparent relationship between core loss and grade.

CRL drilling

·    All drill core was digitally logged producing detailed structural logs recording Alpha and Beta angles using a Kenometer, recording each individual vein and structural zone, alteration zones and geotechnical characteristics.

·    Select samples were taken for petrographic studies in order to support observations and clarify mineralogical observations.

·    All core was photographed and referenced to downhole geology using Leapfrog software.

·    Voids and broken ground, where encountered, were clearly logged as such.

·    Logging template improvements were made for the 2025 drilling, that included capturing separate lithology, structural, alteration and mineralisation tables

SWM drilling

·    Detailed geological core logging and recording of the features of the core was undertaken as part of the historic drilling campaign and these logs remain available for review.

·    Mineralogical descriptions are qualitative but detailed. Details of all relevant intersections are separately noted.

CRL 2025 drilling

·    Sawn half core was used for all samples submitted to the laboratory. The remaining half-core is preserved in the core trays as a record.

·    The routine sample procedure is always to take the half core to the left of the orientation line looking down the hole.

·    The halved samples were submitted to ALS Loughrea laboratory.

·    All samples, typically in the range 2-7 kg were dried and finely crushed to better than 95 % passing a 2 mm screen. A split of 1000 g was taken and pulverised to better than 85 % passing a 75 micron screen.

·    Once assay results are received, the results from certified reference material, and blank samples are compared with expected certified concentrations and the corresponding duplicate samples are compared to ascertain whether the sampling is representative.

·    Copies of internal laboratory QC validating that the targeted particle size was being achieved were received and reviewed.

·    Sample sizes are considered appropriate for the style and type of mineralisation, if halved core is used.

CRL 2017-2018 drilling

·    Sawn half core was used for all samples submitted to the laboratory. The remaining half-core is preserved in the core trays as a record.

·    The routine sample procedure was always to take the half core to the left of the orientation line looking down the hole.

·    The halved samples were submitted to ALS Loughrea laboratory.

·    For holes CRD001 to CRD013, samples, typically in the range 3-7 kg were dried and finely crushed to better than 70 % passing a 2 mm screen. A split of up to 250 g was taken and pulverized to better than 85 % passing a 75 micron screen.

·    For holes CRD014 onwards, samples, typically in the range 3-7 kg were dried and finely crushed to better than 95 % passing a 2 mm screen. A split of 1000 g was taken and pulverized to better than 85 % passing a 75 micron screen.

·    Copies of internal laboratory QC validating that the targeted particle size was being achieved were received.

·    % of samples were re-assayed as coarse reject duplicates.

·    Once assay results were received, the results from duplicate samples were compared with the corresponding routine sample to ascertain whether the sample preparation steps were not introducing bias or imprecision.

·    Sample sizes are considered appropriate for the style and type of mineralisation, if halved core is used.

·    CRL 2025 new samples.

SWM drilling

·    Historic SWM core was generally sampled at ~2 m intervals using two methods: split half-core and geochemical chip sampling. Chip samples (material washed from the core barrel) are considered non-representative and are not used for estimation; only split-core samples are retained for verification and modelling work. Sample-type codes in the database distinguish SC (split core), G (chip), and SCG (split core for Sn/W with chip for other analytes). Contemporary QAQC (standards/blanks/duplicates) was not implemented in 1980-83; however, Robertson Research International undertook retrospective checks with Alfred H. Knight (c.10% of samples) and re-assayed Redmoor submissions following identification and correction of an analytical issue, providing reasonable confidence in the WO₃ data. SRK/NAE later performed limited core resampling.

CRL 2025 drilling

·    Analysis by method ME-MS61 was carried out using a HF-HNO3-HClO4 acid digestion, HCl leach, and analysed with a combination of ICP-MS and ICP-AES, including Sn, Cu, and W. The upper and lower detection limits have previously been tested and predetermined by CRL and confirmed acceptable for the target elements of Sn, Cu, and W. A limited number of samples were also analysed for Cu, Pb and Zn by method OG62.

·    Additional analysis for Sn is undertaken using method ME-MS85h to successfully analyse for Sn in resistant minerals such as cassiterite, allowing for a true analysis for Sn contained in the resource.

·    Where grades by method ME-MS61 exceed 0.30% W, as previously determined by internal review, an additional assay for high grade W by method ME-XRF15b was subsequently carried out. These results replace relevant W values for ME-MS61. Where grades by method ME-MS85h exceed 1,400 ppm Sn, an additional assay for high grade Sn was carried out using ME-XRF15b.

·    The laboratory shared their internal QC data on blanks, pulp duplicates and CRMs. CRL also inserted 7.5% CRMs to test WO₃, Sn and Cu analyses and 5% blanks along with 5% coarse and pulp duplicates, as a further control.

·    CRM standards were reproducible and within analytical ranges as certified; CRL's blanks show no significant contamination issues and the assays of the laboratory standards, which cover a range of metal values for each of Sn, Cu, WO₃, show no material bias.

·    2.5 % of samples are selected for umpire assays at an independent laboratory and project-specific CRMs for WO₃ and Sn to maintain long-term analytical confidence.

CRL 2017-2018 drilling

·    Analysis by method ME-ICP81x was carried out using a sodium peroxide fusion for decomposition and then analysed by ICP-AES for 34 elements, including Sn, Cu, and W. The upper and lower detection limits are considered acceptable for the target elements of Sn, Cu, and W. A limited number of samples were also analysed for silver by method Ag-ICP61.

·    Assay method selection (2017-2018): Where WO₃ by ME-ICP81x exceeded 0.50% WO₃, samples were re-analysed by XRF (ME-XRF15b) and the XRF results replaced the corresponding ICP values for reporting and resource evaluation.

·    Pulp re-assay and updated trigger (2024/2025): Following a review, the XRF trigger was lowered to 0.30% WO₃. CRL re-assayed 73 pulps by XRF at ALS; results showed an ~9% average increase in WO₃ relative to the original ICP assays (with the majority for higher grades). This work confirms XRF as the preferred method for samples ≥0.30% WO₃ and supports its use for future estimation and reporting.

·    The laboratory shared their internal QC data on blanks, pulp duplicates and standards. CRL also inserted 5% each of blanks, standards and coarse duplicates, as a further control.

·    While there was some spread in the repeatability of the 2017 coarse rejects the results are acceptable and to industry guidelines; CRL's blanks show no significant contamination issues and the assays of the laboratory standards, which cover a range of metal values for each of Sn, Cu, W, show no bias subject to the protocol above being used.

SWM drilling

·    Historic SWM drill core was predominantly sampled at ~2 m intervals using two methods: split half-core and geochemical chip sampling. Chip samples are interpreted to comprise material washed from the core barrel and are concentrated in low-grade or unmineralised zones; due to representativity limitations they are not recommended for use in grade estimation. For verification and estimation, Snowden Optiro advises using split-core samples only.

·    Historical SWM assay data were generated by RRI using XRF and colorimetric methods; subsequent check work by Alfred H. Knight provide a basis for confidence in the original WO₃ results.

·    No additional information is available on the quality control programmes used for the historic drilling.

·    SRK/NAE re-sampled selected SWM core in 2012-2013 for verification. Snowden Optiro reviewed these results and concluded that the quarter-core versus quarter-core methodology was sub-optimal for the coarse, nuggety wolframite mineralisation at Redmoor. Future verification was recommended to employ half-core versus half-core resampling to maintain equivalent sample support, or through twin hole verification.

CRL 2025 drilling

·    Internal review of all assay and QA/QC data was undertaken internally by CRL geologists and Exploration Manager, with review undertaken externally by Snowden Optiro.

·    CRL previously undertook analytical checks and reviews on historical pulp samples, confirming the necessity for lower trigger limits for W analysis (from 0.5% to 0.3%), with ME-XRF 15b analyses showing an increase in W grade in a majority of samples, these results were incorporated into the revised assay database. Checks for Sn trigger limits were tested, which were kept at 500 ppm.

CRL 2018 drilling

·    Geologica UK previously validated the 2018 drilling database against laboratory certificates. In 2025, Snowden Optiro completed an additional independent check of the 2017-2018 assay data against original lab files. CRL in 2024/2025 also undertook targeted pulp re-assays (XRF) to confirm WO₃ grades

·    Snowden Optiro consider the dataset fit for Mineral Resource estimation.

CRL 2017 drilling

·    SRK previously reviewed the database and laboratory certificates and confirmed significant intersections. In 2025, Snowden Optiro re-reviewed these data as part of a comprehensive assessment of previous datasets, confirming the earlier conclusions and data integrity.

·    Snowden Optiro received copies of CRL's database and laboratory analysis certificates and reviewed the significant intersections.

·    SRK conducted a site visit and audit in 2017. Snowden Optiro completed multiple site visits (2025) and reviewed data entry, chain-of-custody and verification procedures. CRL maintains routine off-site backups; Snowden Optiro also recommended (and CRL is implementing) migration to a secure relational database and standardisation of historic SWM and CRL datasets.

·    Within significant intercepts, values at detection limits were replaced with 0.5 of the detection limit value. Where duplicate assays exist the primary sample assay is used.

·    CRL's 2017-2018 diamond drilling data and QAQC results have been independently reviewed by Snowden Optiro; no material issues were identified, and the dataset is considered fit for use in resource estimation.

SWM drilling

·    Historical SWM drilling (1980-1983) was completed prior to the routine implementation of QAQC procedures; however, records show that the primary laboratory, Robertson Research International (RRI), conducted internal check analyses. RRI submitted approximately 10 % of samples for independent check assays at Alfred H. Knight Laboratories. All Redmoor samples since April 1980 were re-assayed due to an issue with a faulty x-ray tube. Snowden Optiro considers this an appropriate historical verification step providing reasonable confidence in the WO₃ data.

·    SRK re-sampled selected SWM core in 2012-2013 for verification. Snowden Optiro reviewed these results and concluded that the quarter-core versus quarter-core methodology was sub-optimal for the coarse, nuggety wolframite mineralisation at Redmoor. Snowden Optiro recommended twin drilling as a better and more appropriate technique for verification.

·    Snowden Optiro and CRL jointly planned a programme of twin-hole drilling, designed to verify the SWM dataset through direct comparison of lithology, structure, and assay tenor. The first of these, CRD033 (twin of RM82-22) as reported in this RNS, provides an encouraging result, confirming the same mineralised zones and no systematic grade bias.

·    Snowden Optiro has undertaken side-by-side sectional reviews and statistical checks (including Q-Q plots, depth-aligned paired analyses, and grade-threshold comparisons) as part of its independent verification process.

·    Collar locations for selected SWM holes (e.g., RM80-05 and RM80-05B) were verified in the field by Snowden Optiro using handheld GPS; down-hole survey data and the -8° magnetic-to-grid correction were checked and confirmed as appropriate.

·    Through recent re-modelling work, Snowden Optiro has independently checked relevant original logs against those captured in the current database and conformable with the level of data captured in the SRK digitisation and that no material transcription errors have taken place.

CRL 2025 drilling

·    Planned collar locations were recorded as six-figure grid references, together with RL values in meters, in the British National Grid (OSGB) coordinate system.

·    Final collar coordinates were recorded using a Reach RS2 GPS receiver, with variation from planned position within 10 m.

·    Downhole surveys were conducted using the Reflex EZ-Trac system, as a minimum every 30m downhole. A multi-shot survey, using the Reflex EZ-Trac system, is collected when drill diameter is reduced from HQ to NQ diameter and at the end of hole, with survey readings taken every 3m up hole. Aluminium extension rods were used to minimise magnetic error.

·    Data were synchronised with the online IMDEX HUB-IQ online data management system, with survey data reviewed by CRL geologists and QA/QC parameters checked to validate survey data.

·    Initial collar set up was conducted using an optical sighting compass, at least 10m from the rig, for azimuth, and an inclinometer on the rig for inclination; azimuth was checked prior to drill rig set up and following set up of drill pad and levelling of drill rig.

CRL 2018 drilling

·    Planned collar locations were recorded as six-figure grid references, together with RL values in meters, in the British National Grid (OSGB) coordinate system. These were surveyed using a real-time corrected DGPS operated by a professional survey company, 4D Civil Engineering Surveying Ltd (4D-CES). Final pick -up of actual hole positions is completed on completion of each site; variation from planned positions is generally <5 m.

·    Downhole surveys were conducted using the Reflex EZ-Trac system, as a minimum every 50m downhole. Aluminium extension rods were used to minimise magnetic error.

·    Initial collar set up was conducted using an optical sighting compass, at least 10m from the rig, for azimuth, and an inclinometer on the rig for inclination.

CRL 2017 drilling

·    Collar locations were recorded as six-figure grid references, together with RL values in metres, in the British National Grid (OSGB) coordinate system. These were surveyed using a real-time corrected DGPS operated by a professional survey company.

·    Downhole surveys were conducted using the Reflex EZ-Trac system, as a minimum every 50m downhole. Aluminium extension rods were used to minimise magnetic error.

·    Initial collar set up was conducted using an optical sighting compass, at least 10m from the rig, for azimuth, and an inclinometer on the rig for inclination.

SWM drilling

·    Historic drillhole logs present collar locations as six-figure grid references in British National Grid (OSGB) coordinate system. In the absence of RL data, SRK has projected collars on to (2005) Lidar topographic survey data.

·    Downhole surveys were typically recorded using either acid tube test or single shot survey camera, with readings taken at approximately every 50 m.

·    Historic plans of the drilling and drillhole traces have been digitised and Snowden Optiro have reviewed database collars vs georeferenced plans and is satisfied with the coordinate positions.

CRL 2025 drilling

·    The programme aimed to extend previously identified mineralisation, confirm validity of SWM drilling and its use in a Mineral Resource estimate, and identify mineralisation within the exploration target area as defined in the 2020 Scoping Study .

·    Twinned drill hole spacing is typically 10-25 m apart, and reasonably follow the same azimuth and dip.

·    Data spacing provides an acceptable degree of geological and grade continuity for Mineral Resource estimation in the Inferred category.

·    Samples were composited to 2 m for continuity analysis and estimation.

CRL 2018 drilling

·    The programme aimed to extend previously identified mineralisation.

·    Data spacing is typically 70/80-150m apart, and locally less.

·    Data spacing provides an acceptable degree of geological and grade continuity for Mineral Resource estimation in the Inferred category.

·    Samples were composited to 2m for continuity analysis and estimation.

CRL 2017 drilling

·    The programme aimed at extending and improving continuity of previously identified mineralisation.

·    The data spacing varies depending on the target, within the SVS this is 100-150m apart, and often less.

·    Compositing was applied in order to calculate intersected width equivalents, on an interval length weighted-average basis.

SWM drilling

·    The drillholes and sample intersections are typically some 100-150m apart in the main lodes and lode systems of interest which has provided a reasonable indication of continuity of structure for the SVS, Johnson's Lode and the Great South Lode. All individual sample assays remain available.

CRL 2025 drilling

·    Drillholes in the programme target the SVS and as secondary target ancillary lodes, such as Johnsons lode.

·    All drillholes were drilled perpendicular to the SVS with the objective of collecting drill core that best represents mineralised zones and give the best representation of the geology, mineralisation and geometry of the orebody.

·    Drilling has confirmed the continuity of previously drilled High-Grade zones and the continuity of geological structures containing mineralisation. Furthermore, twinned drill holes have confirmed the continuity of WO₃, Sn and Cu grade along logged geological structures.

CRL 2018 drilling

·    Drillholes in the programme target the SVS and as secondary targets ancillary lodes such as Kelly Bray lode.

·    In order to minimize impact on local residents, some holes were drilled oblique to the mineralisation.

·    Notwithstanding this, the SVS mineralisation is interpreted to be a broad tabular mineralised zone. The orientation of the drilling is believed to be appropriate for the evaluation of this geometry as presently understood.

CRL 2017 drilling

·    Drillholes in the programme targeted the SVS, Johnson's Lode, Great South Lode, and Kelly Bray Lode, each of which has different dips.

·    Some holes hit more than one of the above, and therefore could not be perpendicular to all mineralisation.

·    In order to minimize impact on local residents, some holes were drilled oblique to the mineralisation.

·    Notwithstanding this, the SVS mineralisation is interpreted to be a broad tabular mineralised zone with an internal plunge component. The orientation of the drilling is believed to be appropriate for the evaluation of this geometry as presently understood. It is recommended that this be further assessed during subsequent drilling.

·    Intercepts are reported as apparent thicknesses except where otherwise stated. The data spacing varies depending on the target, within the SVS this is 100-150m apart, and often less.

SWM drilling

·    The drillholes and sample intersections are typically some 100-150m apart in the main lodes and lode systems of interest which has provided a reasonable indication of continuity of structure for the SVS, Johnson's Lode and the Great South Lode. All individual sample assays, and some of the drill core, remain available.

·    The drillholes were orientated to intersect the SVS and Great South Lode at intersection angles of between 45 and 90 degrees. Two or three holes were though often drilled from one site to limit the number of drill sites needed and also the intersection angles with Johnson's Lode are shallower then ideal due to the different orientation of this structure. Full intersections are however available in all cases so there should be no material bias and the differences between intersected and true lode widths has been accounted for in SRK's evaluation procedures.

CRL drilling

·    All drill core is stored at CRL's warehouse/office in Kelly Bray Callington, with no possible access from the public. All core is securely stored on racking and recorded, with historical pulp and coarse reject samples stored at CRL's office for any future review.

SWM Drilling

·    All remaining SWM drill core is in CRL's custody and is stored on private land, for which CRL has continued access.

CRL drilling

·    Snowden Optiro audited CRL's sampling, logging, and QAQC procedures during a comprehensive review in 2025 and found them to meet industry best practice.

·    Snowden Optiro undertook six site visits to CRL's Redmoor Project to review and audit drilling, logging, density measurement and sampling practices, as well as standard operating procedures and is satisfied that CRL are performing all to a high standard.

·    SRK previously audited CRL's 2017 drilling programme (June 2017) and identified no significant issues.

SWM drilling

·    No external audit of the historical SWM QAQC is known other than those undertaken by SRK and Snowden Optiro.

·    The Project is located immediately south of the village of Kelly Bray and approximately 0.5km north of the town of Callington in Cornwall in the United Kingdom.

·    In October 2012, NAE Resources (UK) Limited acquired a 100% interest in the Redmoor Tin-Tungsten Project through an Exploration License and Option Agreement with the owner of mineral rights covering a large area of approximately 23km² that includes the Redmoor Project.  The Exploration License was granted for an initial period of 15 years with modest annual payments. On 14 November 2016, NAE Resources (UK) Limited changed its name to Cornwall Resources Limited (CRL).

·    On 26 May 2016 Strategic Minerals Plc (SML) entered into an option agreement with NAE to buy a 50% interest in CRL. In March 2019, the Company entered into arrangements to acquire the balance of CRL, and this was completed on 24 July 2019.

·    On 21 April 2022, SML announced a 10-year extension of CRL's Redmoor Exploration Licence until October 2037.

·    CRL also has the option to a 25-year Mining Lease, extendable by a further 25 years which can be exercised at any time during the term of the Exploration License. The Mining Lease permits commercial extraction of the minerals subject to obtaining planning and other approvals required and is subject to a 3% Net Smelter Return royalty payable to the mineral right owner once commercial production has commenced.  CRL also has a pre-emptive right over the sale of the mineral rights by the vendor. Surface land access for exploration drilling and mining over some of the Redmoor deposit is also included in these agreements.

·    In addition to the Redmoor exploration licence, CRL holds further licence agreements with two other mineral rights owners, including the Duchy of Cornwall, for a total mineral rights area within the historic Tamar Valley Mining District of 91.67km2.

·    Historical exploration was completed by South West Minerals (SWM) between 1980 and 1983, consisting of diamond drilling and limited underground channel sampling of Redmoor adit. Data from this programme form part of the current geological and assay database. Verification of these data has included laboratory check assays by Alfred H. Knight (1980), SRK/NAE core resampling (2012-2013), and ongoing twin-hole validation by CRL under Snowden Optiro supervision (2025).

·    The Redmoor area was the subject of underground development and processing from the 18th century to around 1946.

·    Snowden Optiro is unaware of any exploration undertaken by parties other than South West Minerals (SWM).

·    The geology of the Redmoor Project is typical of other established mining areas of Cornwall.  Tin, tungsten and metal sulphide mineralisation is spatially related to granite intrusions which have caused mineral containing fluids to transport and deposit tin, tungsten and copper bearing minerals along fractures and faults in surrounding rocks. 

·    At Redmoor the mineralisation occurs both in discrete veins (lodes) and within a stockwork and sheeted zone of numerous closely spaced quartz veins known as the Sheeted Vein System (SVS).

CRL 2025 drilling

·    Drillhole collar data including position, RL, azimuth, inclination, and length is provided below for CRD033:

CRL 2018 drilling

·    Drillhole collar data including position, RL, azimuth, inclination, and length was provided in the CRL release dated 24 January 2019.

CRL 2017 drilling

·    Drillhole collar data including position, RL, azimuth, inclination, and length were reported in the CRL releases dated 7 September, 1 November, and 11 December 2018.

·    Depths of intercepts were reported in the releases dated 7 September, 1 November, and 11 December 2018.

·    Figures previously presented in the 26 November 2015 announcement show the relative location and orientation of the drilling completed by SWM.

CRL 2025 drilling

·    Weighted average intercepts were calculated using sample weighting by length of sample interval.

·    No high cut was thought to be appropriate.

·    Internal dilution is accepted where a geological basis is thought to exist for reporting a wider package, for example within the SVS.

·    For the 2025 drilling, results are expressed in WO₃ equivalent values. The formula used is WO₃Eq = WO₃ + (Sn × 0.82) + (Cu × 0.27).

·    The assumptions for this calculation are:

CRL drilling

·    The SVS mineralisation is interpreted to be a broad tabular mineralised zone with an internal plunge component, which is currently being evaluated.

·    The orientation of the drilling is believed to be appropriate for the evaluation of this geometry as presently understood. It is recommended that this be further assessed during subsequent drilling.

·    Intercepts are reported as apparent thicknesses except where otherwise stated.

SWM drilling

·    Full intersections are available in all cases so there should be no material bias and the differences between intersected and true lode widths were accounted for in consultant SRK's evaluation procedures.

·    Appropriate maps, plans, sections and other views of the interpreted mineralisation are included in the announcement.

·   The announcement presents all of the salient exploration data that supports the results presented and where summarised is done so in such a way as to convey all of the results in a balanced manner.

·   All relevant new information has been presented in the announcement.

·   The announcement summarises the geological and other work currently underway and planned and the current considerations regarding the potential of the licence area.