Earnings release
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RNS Number : 2491O Strategic Minerals PLC 09 January 2026 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. 9 January 2026 Strategic Minerals plc (" Strategic Minerals " or the "Company") Q4 & 2025 Trading Update Strong Cobre performance provides sustainable revenue and operational stability to enable continued advancement of the Redmoor Tungsten-Tin- Copper Project Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to provide the following update on Q4 and 2025 performance and activities. Highlights · Significant share price appreciation in 2025 - up 470% and one of the top performing companies listed on AIM · Exceptional drill results received from three of nine drill holes completed at the Company's Redmoor Tungsten-Tin-Copper Project · Positive metallurgical work from Stage 1 studies with mass recovery to flotation feed of approximately 43.9%, and stage metal recoveries of 94.3% tungsten, 95.6% tin, and 90.7% copper to an average 2.1x upgrade ratio · On target to release updated Mineral Resource Estimate before the end of Q1 2026 · Renewed investor and stakeholder engagement including non-deal institutional roadshow, a webinar presentation with approximately 1,000 recorded views, and attendance at the Critical Minerals Association and Resourcing Tomorrow conferences in London · Cobre magnetite operation recorded its 3 rd highest annual ore sales in 14 years with 61,279 tons sold to a diverse customer base, generating sales of approximately US$4.23 million · Exercise of exclusive call option by Cuprum Metals ("Cuprum") to acquire the Company's wholly owned subsidiary Leigh Creek Copper Mine with A$0.25 million received so far through the call option payment of A$0.1 million and First Instalment payment on A$0.15 million . A further A$1.75 million is due upon the earlier of 31 May 2026 or the execution of a Definitive Agreement between the Company and Cuprum. Along with a subsequent earn-out from production of A$4 million and receiving 19.9% of the shares of any entity that Cuprum intends to list on the Australian Securities Exchange, this brings the total consideration up to A$9 million . · Strategic Minerals' cash as at 31 December 2025 was US$0.78 million after continued substantial investment in Cornwall Resources' development programme and awaiting a further rebate from the UK Shared Prosperity Fund Operational Highlights (By Subsidiary) Cornwall Resources Redmoor Tungsten-Tin-Copper Project , Cornwall, UK ("Redmoor") · Awarded c. £764,000 UK Government grant funding from the UK Shared Prosperity Fund , which together with matched funds from the Company's April 2025 placing, is supporting the programme to accelerate Redmoor towards pre-feasibility · 1st drilling since 2018 began in June with 5048.70 m completed by December 2025 ahead of schedule, within budget, and with exceptional results reported to date o Includes 1.10 m @ 7.19% WO 3 , 0.02% & 1.11% Cu (7.51% WO 3 .Eq) and 0.97m at 7.52 WO3, 0.03% Sn & 0.87% Cu (7.78% WO3.Eq) , including one of the top 10 highest-grade sample results recorded at Redmoor from all previous drilling campaigns · Multiple mineralised intervals and wide zones of mineralisation within the Redmoor sheeted vein system identified, reinforcing Redmoor's status as one of the highest- grade undeveloped tungsten deposits globally · Re-analysis of historical samples confirmed previous underreporting of certain samples and an average 9.2% increase in tungsten grades, further solidifying Redmoor's position as Europe's highest-grade undeveloped tungsten deposit Page 1 of 3
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and an average 9.2% increase in tungsten grades, further solidifying Redmoor's position as Europe's highest-grade undeveloped tungsten deposit · Strategic Minerals invested in upgraded facilities and team expansion to support the programme Southern Minerals Group Cobre Magnetite Stockpile, New Mexico, USA · Continued strong operational performance across 2025 despite 10-day shutdown due to wildfires · Sales of magnetite increased over the course of the year o Q4 sales were up 4% on Q3, and Q3 sales were up 45% on Q2 o By volume, H2 saw an increase of 15.2% · Total sales of approximately US$4.23 million (2024: US$4.75 million ) generated from 61,279 tons or ore sold to customers (2024: 70,659 tons) Sales comparisons on quarterly and yearly periods, along with associated volume details, are shown in the table below: Volume (tons) Sales (US$'000) Year 3 months to Dec 3 months to Sep 3 months to Dec 3 months to Sep 2025 16,713 16,098 1,151 1,079 2024 19,952 1 9,375 1,336 1 ,273 2023 4,479 4 ,592 391 4 04 Year Full year Full year 2025 61,279 4,230 2024 70,658 4,745 2023 17,966 1,577 Leigh Creek Copper Mine ("LCCM") Leigh Creek Copper Project , South Australia · South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals ("Cuprum") exercised its call option to acquire LCCM and paid the First Instalment of A$0.15 million - a total of A$0.25 million has now been received · Second Instalment of A$1.75 million to be received on the earlier of execution of a Definitive Agreement, or 31 May 2026 * · Both parties are confident in restarting LCCM this year, supported by strong copper market fundamentals * Cuprum's right to acquire LCCM will lapse if the Second Instalment has not been paid to the Company by 31 May 2026 Mark Burnett , Executive Director of Strategic Minerals , commented: "2025 was a transformational year for Strategic Minerals . We successfully restructured and reorganised the Company, positioning it to deliver increased near-term revenue from Cobre and long-term value creation from the Redmoor Tungsten-Tin-Copper Project . We are utilising sustainable cash flows from Cobre to unlock the full potential of Redmoor with a clear opportunity to develop it and the surrounding area into a world leading source of tungsten, tin and copper to provide resilience to western world supply chains. The Redmoor drill programme has gone exceptionally well so far, and we anticipate further resource growth and additional efficiencies for future infill drilling as part of a pre-feasibility programme." For further information, please contact: Strategic Minerals plc +44 (0) 207 389 7067 Mark Burnett Executive Director Website: www.strategicminerals.net Email: info@strategicminerals.net Follow Strategic Minerals on: X: @StrategicMnrls LinkedIn: https://www.linkedin.com/company/strategic-minerals-plc SP Angel Corporate Finance LLP +44 (0) 20 3470 0470 Nominated Adviser and Broker Matthew Johnson / Charlie Bouverat / Grant Barker Zeus Capital Limited Joint Broker Harry Ansell / Katy Mitchell +44 (0) 203 829 5000 Vigo Consulting +44 (0) 207 390 0234 Investor Relations Ben Simons / Peter Jacob / Anna Sutton Email: strategicminerals@vigoconsulting.com Notes to Editors Page 2 of 3
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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 : Cut-off (SnEq%) Tonnage (Mt) WO 3 % Sn % Cu % Sn Eq 1 % WO 3 Eq % >0.45 <0.65 1.50 0.18 0.21 0.30 0.58 0.41 >0.65 10.20 0.62 0.16 0.53 1.26 0.88 Total Inferred Resource 11.70 0.56 0.16 0.50 1.17 0.82 1 Equivalent metal calculation notes; Sn(Eq)% = Sn% x 1 + WO3% x 1.43 + Cu% x 0.40. WO 3 (EQ)% = Sn% x 0.7 + WO 3 + 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 . South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals has exercised an exclusive Call Option 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 This information is provided by RNS, the news service of the London Stock Exchange . RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom . Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy . END MSCAKFBNDBKBKDK Page 3 of 3