Strategic Minerals: Redmoor – Programme Update

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.

6 November 2026

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor – Programme Update

Redmoor Resource Infill Drilling Programme Reaches 7,500m and Continues to Identify SVS Mineralisation

Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce the current resource infill drilling programme (“the Programme”) has passed 7,500 total metres drilled across 13 completed drillholes and provides an update on the ongoing infill resource drilling programme at its Redmoor Tungsten-Copper-Tin Project (“Redmoor”), located in Cornwall, UK. Redmoor is being developed by the Company’s wholly owned subsidiary, Cornwall Resources Limited (“CRL”).

The Company is moving firmly toward publishing a new Mineral Resource Estimate (“MRE”) update and initiating its advanced metallurgical testwork programme that will support a future Feasibility Study.

Highlights – Drilling Programme

• A total of 13 drillholes exceeding 7,500m have been drilled to date, including 11 of the 42 infill resource drill holes, and an additional 2 drillholes - one at Rig 2 on Pad 1 and one at Rig 3 on Pad 5 - as part of the planned metallurgical test work and subsequent studies towards publishing a new MRE. The Programme is on time, within budget and delivering excellent results.
• Currently, analytical batches totalling 728 samples from 4 drillholes (CRD045, CRD046, CRD048 and CRD053) have been sent to the external laboratory for analysis - all are currently in process, with a further 155 samples from CRD054 dispatched and in transit to the laboratory.
• Drillhole CRD054 has intersected Sheeted Vein System (“SVS”) veining and mineralisation within the underlying granite body for the first time, downdip of the currently modelled SVS high-grade domains, with visibly identifiable wolframite (tungsten) and chalcopyrite (copper) - should similar intersections be identified in subsequent drilling and supported by assay results, this could warrant further investigation of the resource potential.
• All completed drillholes have intersected the SVS mineralised system and structures where expected, and produced visibly identifiable wolframite (tungsten), chalcopyrite (copper) and cassiterite (tin) mineralisation, as visually logged and identified by CRL geologists (Figure 1, Rig 1; Figure 2, Rig 2 and Figure 3-4 Rig 4).
• Rig 1 on Drill Pad 4: Seven drillholes, including one metallurgical hole, have been completed on this pad. Laboratory results from the first three holes were reported in RNS: 14 September 2026.

• Rig 2 on Drill Pad 1: Three drillholes on this drill pad been completed, totalling >1,500m.
  • Drilling included the first recorded visual identification of SVS-style mineralisation within the granite body below - assay results are pending. The fourth hole from this pad has recently commenced.
• Rig 3 on Drill Pad 5: Three drillholes have been completed on this pad, testing the western-most portions of the Redmoor Resource. All holes intersected the full thickness of the Redmoor SVS, and the previously modelled North Tin Zone, with visually logged cassiterite mineralisation.
  • Additionally, new structures containing visually identified cassiterite mineralisation north of the modelled resource and North Tin Zone have been identified by CRL geologists (Figures 3 and 4) - results will be announced pending analysis.

Dennis Rowland, CRL Managing Director, said:

“The geological team, led by CRL’s Exploration Manager, Rowan Thorne, is undertaking an intense and expansive drilling programme at Redmoor. The team is working to a high level of professionalism to maintain programme delivery. We have completed 11 of the planned 42 infill drillholes, and two metallurgical holes, whilst also collecting geotechnical samples required for future mine design studies. The Programme is on time, within budget, and delivering excellent results.”

Rowan Thorne, CRL Exploration Manager, said:

“Drilling at Redmoor is continuing at pace, with positive early results and good indications from visual core logging of continued mineralisation. Drillholes completed to date have all achieved their planned aims, intersecting the SVS, and its modelled high-grade zones. Beyond this, drilling continues to identify additional mineralisation potential at Redmoor, with evidence that mineralisation may extend beyond the limits of the current geological model.

“It is highly encouraging that for the first time a drillhole at Redmoor, drilled by CRL, has intersected sheeted vein system veining and mineralisation, downdip of a modelled SVS high-grade domain within the underlying granite body. Should similar intersections be identified in subsequent drilling and supported by assay results, this could warrant further investigation of the resource potential within the underlying granite.”

Programme Update

The resource infill drilling at Redmoor is progressing at pace, with 13 drillholes across three drill pads having now been completed, and all having intersected the full thickness of the Redmoor SVS, including its modelled high-grade domains and visually logged mineralisation. To date, seven drillholes have been completed at Rig 1 (including one additional metallurgical drillhole) with an eighth currently underway, three drillholes at Rig 2 have been completed, with a fourth underway, and three drillholes have now been completed at Rig 3 with fourth and final drillhole nearing completion.

Each infill drillhole is designed to meet strict tolerance guidance for the planned intersect point within the deposit to ensure it meets the requirements for the infill spacing for any potential resource conversion. Drilling continues, with Rig 1 expected to move drill pads prior to a planned short cessation of drilling activities over the Christmas holidays.

Figure 5: Locations of the three drill rigs currently operational at the Redmoor site.

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, the Exploration Results reported herein do not materially affect the Mineral Resource estimate announced on 26 March 2026, and that the assumptions and technical parameters underpinning that Mineral Resource estimate continue to apply.

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-Copper-Tin 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 26 March 2026:

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. 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.

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