Redmoor – Very High-Grade Sample Results

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.

25 November 2025

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor - Very High-Grade Sample Results Continue to Exceed Expectations

Second drillhole results reinforce Redmoor's exceptional high-grade nature, with very high-grade sample intersections and multiple thick zones of mineralisation

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is delighted to announce that its wholly owned subsidiary, Cornwall Resources Limited ("CRL"), has received standout drillhole assay results from CRD034b, including very high-grades and multiple thick intersections. CRD034b was the second drill hole of the ongoing drilling campaign at the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

Downhole Composite Highlights:

Very High-Grade

·   A very high-grade tungsten intersection: 1.10 m @ 7.19% WO₃, 0.02% & 1.11% Cu (7.51% WO₃.Eq*¹) from 579.93 m in CRD034b - amongst the top 10 highest-grade sample results recorded at Redmoor from all previous CRL drilling campaigns.

·   Further very-high-grade sample intervals, inside broader high-grade intersections:

o 1.05 m @ 4.93% WO₃, 0.03% Cu & 0.01% Sn from 458.52 m (4.94% WO₃.Eq)

o 1.00 m @ 2.73% WO₃, 0.11% Cu & 0.03% Sn from 466.00 m (2.78% WO₃.Eq)

o 0.70 m @ 2.65% WO₃, 2.07% Cu & 0.14% Sn from 485.73 m (3.32% WO₃.Eq)

o 0.50 m @ 1.96% WO₃, 0.09% Cu & 0.01% Sn from 534.00 m (1.99% WO₃.Eq)

o 0.75 m @ 1.21% WO₃, 4.73% Cu & 0.05% Sn from 583.30 m (2.53% WO₃.Eq)

Significant Widths

·   Multiple, very wide, high-grade intersections of tungsten mineralisation (in comparison to global tungsten projects) confirmed within the Redmoor Sheeted Vein System ("SVS"), including:

o  15.46 m @ 0.72% WO₃, 0.04% Sn & 0.66% Cu (0.93% WO₃.Eq) from 456.04 m.

·   Importantly, a deep intersect, which widens the previously modelled thickness of the Redmoor SVS in this zone of the deposit, returning 10.00 m @ 0.92% WO₃, 0.02% Sn & 0.78% Cu (1.15% WO₃.Eq) from 578.00 m, including the above 1.10m @ 7.19% WO₃, and 0.75 m @ 2.53% WO₃.Eq sample intervals.

·   Results complement the high-grade "exceptional" intersections from CRD033, adding further high-grade zones of mineralisation with grades exceeding these previous results. High-grade intersections are listed in detail below.

Copper and Tin

·   Strong copper results in several zones, most notably 3.46 m @ 1.25% WO₃ plus 1.93% Cu and 0.08% Sn (1.84% WO₃.Eq) from 463.54 m, and lode-style copper intervals, including tin, up to 1.00 m @ 2.14% Cu and 1.00% Sn from 515.00 m, adding significant potential value to the polymetallic system.

Silver

·   Silver values of up to 84.8 g/t have been reported within copper-rich zones over a 0.75 m interval. Further work is underway to assess the potential for silver recovery; however, CRL makes no assumptions regarding its recoverability at this stage.

Dennis Rowland, CRL Managing Director, said:

"These results highlight downhole intersections of impressive length and grade, up to 15.00 m at nearly 1% WO₃, and significant single sample zones reaching 7.19% WO₃ - amongst the top 10 sample intervals by grade recorded at Redmoor to date by the Company.

"The new results reported outside the existing Redmoor resource model indicate strong potential for material resource growth. Ongoing analysis of samples from additional drillholes is expected to further refine and enhance the understanding of Redmoor's resource potential.

"The continuation of very high-grade mineralisation in CRD034b reinforces Redmoor's status as Europe's highest-grade undeveloped tungsten resource, and among the highest-grade globally."

Mark Burnett, SML Executive Director, said:

"The Board is pleased with the impressive results reported from this drillhole, which highlight the exceptional nature of the Redmoor deposit. Overall, CRD034b has proved very valuable in the short-range continuity test as well as in finding excellent grade intersections. Redmoor sits in a commanding position to be a secure supply of minerals deemed critical to the UK and its peers."

Cllr Tim Dwelly, Cornwall Council's Cabinet Member for Economic Regeneration and Investment, said:

"We've invested almost £765,000 through our Good Growth Programme to support the latest drilling operation at Redmoor, and it's encouraging to see these latest results. Cornwall's critical minerals sector has enormous potential to create high-quality jobs, attract further private investment and strengthen security of supply for the minerals our economy increasingly relies on. That's why we're backing responsible critical minerals projects that we believe can deliver long-term economic value for Cornwall, while helping to meet national demand and deliver against the government's Industrial Strategy."

Highlight of CRD034b Intersections:

Laboratory assay results for drillhole CRD034b, the second hole of the 2025 drilling programme, confirm wide zones of high grade mineralisation and multiple sub-zones of very high-grade tungsten mineralisation, including copper, tin and silver, throughout the Redmoor Sheeted Vein System ("SVS") deposit intercepted by the drillhole, and also additional mineralised zones outside of the SVS (see Table 2 for sample intersection details), with highlights including:

·    3.45 m @ 0.48% WO₃, 0.01% Sn & 0.41% Cu (0.60% WO_3. Eq) from 291.55 m, including:

o  2.00 m @ 0.62% WO₃, 0.01% Sn & 0.56% Cu from 293.00 m

·    15.46 m @ 0.72% WO₃, 0.04% Sn, 0.66% Cu (0.93% WO₃.Eq) from 456.04 m, including:

o  3.53 m @ 1.67% WO₃, 0.02% Sn & 0.27% Cu from 456.04 m, containing:

§ 1.05 m @ 4.93% WO₃, 0.01% Sn & 0.04% Cu from 458.52 m

o  3.46 m @ 1.25% WO₃, 0.08% Sn, 1.93% Cu and 13.92 g/t Ag from 463.54 m, containing:

§ 1.00 m @ 2.73% WO₃, 0.03% Sn & 0.11% Cu from 466.00 m.

o  0.96 m @ 0.50% WO₃, 0.03% Sn & 0.31% Cu from 470.54 m

·    4.00 m @ 0.51% WO₃, 0.03% Sn & 0.42% Cu (0.65% WO_3. Eq) from 484.00 m, including:

o  0.70 m @ 2.65% WO₃, 0.14% Sn & 2.07% Cu from 485.73 m

·    2.85 m @ 0.15% WO₃, 0.36% Sn, 0.90% Cu (0.69% WO_3. Eq) and 13.50 g/t Ag from 515.00 m, including:

o  1.00 m @ 2.03% Cu, 1.01% Sn and 32.60 g/t Ag from 515.00m

·    1.55 m @ 0.64% WO₃, 0.01% Sn & 0.08% Cu (0.67% WO_3. Eq) from 534.00 m, including:

o  0.50 m @ 1.96% WO₃, 0.01% Sn & 0.09% Cu from 534.00 m

·    10.00 m @ 0.92% WO₃, 0.02% Sn & 0.78% Cu (1.15% WO_3. Eq) from 578.00 m, including:

o  1.10 m @ 7.19% WO₃, 0.02% Sn, 1.11% Cu & 25.00 g/t Ag from 579.93 m

o  0.75 m @ 1.21% WO₃, 0.05% Sn, 4.73% Cu & 84.80 g/t Ag from 583.30 m

o  0.50 m @ 0.27% WO₃, 0.01% Sn, 0.64% Cu & 21.60 g/t Ag from 587.50 m

Detail of analytical results form CRD034b

CRD034b was drilled south to intersect the Redmoor SVS mineralisation. Details of the collar and survey setup are provided in Table 1.

Table 1: Drillhole collar data for CRD034b, drilled from the same pad as previously reported CRD033

Laboratory assay results for drillhole CRD034b have returned further exceptional results from the current drilling programme, containing very-high-grade results, with tungsten (WO₃) grades reaching 7.19%, copper (Cu) grades reaching 4.73% and tin (Sn) grades reaching 1.01%, from a zone of the deposit known to be lower in tin concentrations, coupled with silver (Ag) grades of up to 84.8 g/t correlated with copper mineralisation. The silver mineralisation encountered is highly encouraging and is currently undergoing further metallurgical testwork to confirm its economic importance with regards to the Redmoor project, prior to modelling as part of the forthcoming Mineral Resource estimate ("MRE") update, with further updates and commentary expected soon.

These results continue to exhibit the strong continuity of structure and grade within the SVS orebody, with mineralised continuity confirmed eastwards and correlated to high-grade zones previously drilled in CRD033. The final 35.00 m of CRD034b was successful in drilling a previously untested portion of a projected high-grade zone, this section returned the wide, high-grade interval of 10.00 m @ 0.92% WO₃, 0.02% Sn & 0.78% Cu (1.15% WO₃.Eq) from 578.00 m, including 1.10 m @ 7.19% WO₃, 0.02% & 1.11% Cu (7.51% WO3.Eq*1) from 579.93 m, along with strong grades of silver (Ag) up to 84.8 g/t (Figure 1, above).

Figure 2, include a drillhole trace of CRD034b, the hole was planned as an infill hole to test short spaced continuity of structure and grade between other nearby spaced drillholes. The data from CRD034b and other holes will be used in the assessment for future drill spacings. It also serves to demonstrate that the SVS within this portion of the deposit is wider than previously modelled, containing further high-grade zones of mineralisation.

Figure 2: Plan view of the deposit with the route of CRD034b (in Red), with previous CRL and South West Minerals drillholes (in Black). CRD034b is an infill hole aimed at testing short spaced continuity of structure and grade.

Figure 3, includes a cross-section of the borehole, highlighting reported intersections and the previously modelled high-grade zones that form the basis of the 2019 Redmoor MRE.

Figure 3: Cross-section of CRD034b, including sample intersection grades, and grade bars representing WO₃ results. Zones in pink represent the previously modelled high-grade zones that form the basis of Redmoor mineral resource. The modelled high-grade zones towards the bottom of the hole, falls short of the drill holes trajectory, and following the intersection of a further significant width high grade intersection in CRD034b highlights the potential for resource growth should the zone be extended.

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 value-add 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 CRD034b, showing interval lengths and subsequent assay results for WO₃, Sn & Cu. A tungsten equivalent results has also been calculated. Composited values use a downhole length weighted average of grades.

Note*¹ 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.

Competent Person Statement:

The information in this announcement that relates to Sampling Techniques and Data and Exploration Results has been reviewed and approved by Mr Laurie Hassall, MSci (Geology), FIMMM, QMR, FGS, who is a full-time employee of Snowden Optiro. Mr Hassall holds a Master of Science degree in Geology from the University of Southampton and is a Fellow of the Institute of Materials, Minerals and Mining (FIMMM), through which he is also accredited as Qualified for Minerals Reporting (QMR). He is also a Fellow of the Geological Society of London (FGS).

Snowden Optiro has been engaged by Cornwall Resources Limited to provide independent technical advice. Mr Hassall, a full-time employee of Snowden Optiro, is acting as the Competent Person and is independent of Cornwall Resources Limited. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code), and under the AIM Rules.

Mr Hassall consents to the inclusion in this announcement of the matters based on his information, in the form and context in which it appears. He confirms that, to the best of his knowledge, there is no new information or data that materially affects the information contained in previous market announcements, and that the form and context in which the information is presented has not been materially modified.

Notes to Editors

About Strategic Minerals plc and Cornwall Resources Limited

Strategic Minerals plc (AIM: SML; USOTC: SMCDY) is an AIM-quoted, producing minerals company, actively developing strategic projects in the UK, United States and Australia.

In 2019, the Company completed the 100% acquisition of Cornwall Resources Limited and the Redmoor Tungsten-Tin-Copper Project.

The Redmoor Project is situated within the historically significant Tamar Valley Mining District in Cornwall, United Kingdom, with a JORC (2012) Compliant Inferred Mineral Resource Estimate published 14 February 2019:

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

More information on Cornwall Resources can be found at: https://www.cornwallresources.com

In September 2011, Strategic Minerals acquired the distribution rights to the Cobre magnetite project in New Mexico, USA, through its wholly owned subsidiary Southern Minerals Group.  Cobre has been in production since 2012 and continues to provide a sustainable revenue stream for the Company.

In March 2018, the Company completed the acquisition of the Leigh Creek Copper Mine situated in the copper rich belt of South Australia.  The Company has entered into an exclusive Call Option with South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals to acquire 100% of the project.

About the CIOS Good Growth Fund and UK Shared Prosperity Fund

This project is part-funded by the UK Government through the UK Shared Prosperity Fund.  Cornwall Council is responsible for managing projects funded by the UK Shared Prosperity Fund through the Cornwall and the Isles of Scilly Good Growth Programme.

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.

The UK Shared Prosperity Fund proactively supports delivery of the UK-government's five national missions: pushing power out to communities everywhere, with a specific focus to help kickstart economic growth and promoting opportunities in all parts of the UK.

For more information, visit

https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus

For more information, visit https://ciosgoodgrowth.com

Appendix 1

Table 3: Composite intersections and individual sample results, including, sample numbers, depths and widths, metal contents and tungsten equivalent calculations.