Critical Mineral Resources Plc · LSE:CMRS
Critical Mineral Resources — Investor Presentation (January 2026)
25 slides from Critical Mineral Resources's investor presentation, January 2026
Slide 1: Critical Mineral Resources Plc Corporate Presentation 1H26
CRITICAL MINERAL RESOURCES PLC Corporate Presentation 1H26
Slide 2: Disclaimer
2 DISCLAIMER The sole purpose of this investor presentation, talks given by presenters, the information communicated during any delivery of the presentation and any question and answer session and any document or material distributed at or in connection with the presentation (together, the “Presenta
Slide 3: Board of Directors
3 BOARD OF DIRECTORS DOM INIC CHARLES NOUREDDINE RUSSELL RUSSELL TRAYNOR LONG SABRAOUI THOM SON TUCKER EXEC. CHAIR CEO COO NED NED Dominic is a capital Charlie is a mining Noureddine is an Russell Thomson is an Russell Tucker brings markets solicitor and specialist with industry experienced field ac
Slide 4: Investment Case
4 INVESTMENT CASE 01 04 Strategy to become a mid-sized north African copper Moroccan expertise to ensure smooth permitting producer journey, lowering execution risk First asset is copper–silver discovery* at Agadir-Melloul Aiming for 2027 construction 02 05 Earning 60% through staged development exp
Slide 5: Morocco's Strong Copper Outlook
5 WORLD COPPER MINE SUPPLY (Mt) MOROCCO’S STRONG 37 COPPER OUTLOOK POSSIBLE PROBABLE COMMITTED AFTER DISRUPTION ALLOWANCE • Favourable jurisdiction – No.1 in Africa Fraser Institute 32 FORECAST MINE SUPPLY • Presence of large-scale copper deposits confirmed ACTUAL/REQUIRED MINE SUPPLY (Tizert: 130mt
Slide 6: Agadir Melloul Introduction
6 AGADIR MELLOUL INTRODUCTION
Slide 7: Agadir-Melloul location relative to Tizert and other mines
7 Company making sedimentary COMPANY MAKING copper deposit SEDIMENTARY COPPER DEPOSIT AGADIR-MELLOUL AGADIR TIZERT ZGOUNDER / AYA GOLD & SILVER OTHER MINES 50 100km
Slide 8: Achievements to Date
8 ACHIEVEMENTS TO DATE • Initial discovery at Zone 1 and Zone 2 • District-controlling land package: c.60km2 with exclusivity over a further 16km2 • Fieldwork demonstrates mineralised strike length of >12km on initial permits • Confirmation that Agadir-Melloul is a direct geological analogue of Tize
Slide 9: 2026 Work Programme, Four Milestones and Catalysts
9 2026 WORK PROGRAMME, FOUR MILESTONES AND CATALYSTS JAN FEB FEB MAR APR JUN DEC DEC DIAMOND PROJECT MINING PROJECT LARGE MAIDEN FEASIBILITY CONSTRUCTION DRILLING ACQUISITION LICENSE ACQUISITION SCALE RESOURCE1 AND DECISION MET-TEST PERMITTING NEW OWNER’S HIGH ZONES FRONTIER AFRILAB’S J ORC EIA & 50
Slide 10: Initial Drill Results, Copper, Silver and Gold
10 INITIAL DRILL RESULTS, COPPER, SILVER AND GOLD ALL MINERALISATION FROM OR NEAR SURFACE RESULTS No. Length (m) Cu (%) Ag (g/t) No. Length (m) Cu (%) Ag (g/t) SUPPORT BH01 5.8 1.12 19.0 BHR09 10.0 1.10 20.0 2.0M WIDTH BH04 2.5 0.85 4.0 BHR05 1.0 1.44 - 1.2% CUEQ BH06 2.0 1.30 - BHF01 2.0 0.95 - BH0
Slide 11: Zone 1 North – Shallow, Tabular Copper Mineralisation
11 ZONE 1 NORTH – SHALLOW, TABULAR COPPER MINERALISATION
Slide 12: Mineralised Rhyolite Discovery
12 MINERALISED RHYOLITE DISCOVERY • At surface rhyolite discovery at Zone 2 • Mineralisation style unknown but potentially primary • Opens-up basement as a drilling target • Potential for large scale discovery • Some parts of the rhyolite contain gold RHYOLITE CORE 6.0m at 1.4% Cu and 30g/t Ag
Slide 13: Initial Portfolio
13 ZONE 2 INITIAL PORTFOLIO • District scale deposit ZONE 4 • Thus far only drilled 1% of project • All four zones show semi-continuous / consistent copper ZONE 1 mineralisation over multi kilometre strike lengths • Mineralisation primarily (80%) hosted in sedimentary rocks but Precambrian rhyolite
Slide 14: Exploration Target
14 EXPLORATION TARGET AREA (km2 of Adoudounian) % / KM2 MINERALISED CuEQ GRADE (%) Potential Resources Contained copper eq. TARGET 50 10% 5.0 1.2% 25MT 300KT 50 15% 7.5 1.2% 38MT 450 KT • 300,000 tonnes = $2.5 billion 65 10% 6.5 1.1% 33M T 358KT 65 15% 9.75 1.1% 49MT 536KT 85 10% 8.5 1.0% 43MT 425KT
Slide 15: Tizert Analogue
15 55km west of Agadir Melloul TIZERT Tizert started life with 1.1Mt at 2.3% Cu and 65 g/t Ag now 130MT at 0.9% copper + silver credits ANALOGUE Agadir Melloul is starting a similar journey TIZERT JOURNEY: RESOURCE PHASE 1 130 MT GROWTH (17Y) RESOURCE EXPECTED 1.1 MT PLANNED 100MT M&I “VERY OUTPUT R
Slide 16: Continued Drilling
16 FAST-TRACK DEVELOPMENT 650 to 1,000 tpd Initial Mine • Earning-in to 60% through development of modest scale copper flotation plant CONTINUED DRILLING • Production provides path to cashflow within 3.5 years STRATEGIC RESOURCE Targeting a large-scale discovery • Majority of value from Strategic Re
Slide 17: The CMR Vision
17 THE CMR VISION SHALLOW DRILLING FOR FEASIBILITY STUDY TO START RAPID GROWTH OF COPPER IMMEDIATELY WITH MINE EISA • Morocco is an excellent destination for mining RESOURCES ALREADY SUBMITTED • It is geologically well endowed with known but underexplored metallogenic belts • Its mining regulations
Slide 18: Appendix: Thickness and 1,000tpd Comparators
18 APPENDIX THICKNESS AND 1,000TPD COMPARATORS
Slide 19: Orebody Thickness Analogue
19 OREBODY THICKNESS ANALOGUE KUPFERSCHIEFER / LUBIN / KGHM : OREBODY CuEq GRADE DEPTH Mine Company WIDTH (m) GRADE (at 2.0M) (M) LUBIN KGHM POLSKA MIEDZ S.A 2.8 1.2% 1.2% 350-1000 MANSFELD MKM MANSFELD KUPFER 0.5 3.5% 1.0% 0-1000 AGA-MELLOUL CRITICAL MINERAL RES. 2.0* 1.2%* 1.2% 0-50 * 2.0m and 1.2
Slide 20: Mines Which Started Small
20 MINES WHICH STARTED SMALL Fortuna Silver – San Jose Mine “The San Jose Mine began commercial production in September 2011 at 1,000 tonnes per day. With strategic investment over many years, we increased the mill’s capacity to 3,000 tonnes per day by mid-2016. In 2023, the mine produced 4.7 millio
Slide 21: Initial Mine Development
21 INITIAL MINE DEVELOPMENT
Slide 22: Surface Mineralisation
22 SURFACE MINERALISATION • Zones 1 and 2 characterized by shallow mineralization <60m depth • Surface mineralization at Zone 1 North • Open pit mining planned at several locations followed by shallow underground • Targeting an Initial Mine of 500 to 1,000tpd followed by expansion
Slide 23: Development Progress to Date
23 DEVELOPMENT PROGRESS TO DATE • EISA and Mining Licence application submitted – ML expected to be granted during 1H26 • Land access application submitted: 4-year lease automatically renewed, government-controlled land • Water studies commencing shortly • Planning for filtered tailings to extract m
Slide 24: Metallurgy
24 METALLURGY • Testwork undertaken by Afrilab in Marrakesh (SGS Certified) • Mineralogy and Metallurgy typical of West Anti-Atlas • Sulphide to oxide ratio of approx. 80:20 • Copper and silver sulphides must be recovered at the head of the circuit without sulphidation; oxidized copper is then recov
Slide 25: Contact
CONTACT CEO Charlie Long charlie.long@cmrplc.com REGISTERED OFFICE Eccleston Yards 25 Eccleston Place London SWIW 9NF
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