STRATEGIC MINERALS PLC

Legal Proceedings Report • Jun 30, 2025

National Storage Mechanism | Additional information

RNS Number : 8612O

Strategic Minerals PLC

30 June 2025

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.

30 June 2025

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Identification and Clarification of Additional Silver Mineralisation at Redmoor Through

Re-analysis of Samples from Previous Drilling Programmes

Strategic Minerals plc (AIM: SML; USOTC: SMCDF) , an international mineral exploration and production company, is pleased to announce that its wholly owned subsidiary, Cornwall Resources Limited ("CRL"), has received positive results from the re-analysis of 111 pulp samples from previous CRL exploration drilling programmes, following a review of prior analytical results.

The results, combined with historical analyses, identify the mineralisation of silver associated with copper within the Sheeted Vein System ("SVS"), within the current Redmoor Mineral Resource Estimate ("MRE"), and in other mineralised zones.

Highlights:

·    As part of the ongoing re-logging campaign at Redmoor, a review process has continued to be undertaken on historical assay results, which has resulted in the identification of elevated silver (Ag) concentrations associated with copper (Cu) mineralisation

·    A review of 202 historical CRL drillcore assays highlighted strong Ag mineralisation associated with Cu within identified geological structures that form part of the SVS and the current Redmoor MRE, notable historic examples include:

o  CRL000662: 0.75m @ 105.0 g/t Ag and 8.70% Cu from 367.25m in CRD011

o  CRL004189 + CRL004190: 1.75m @ 91.1 g/t Ag and 7.35% Cu from 413.67m in CRD031

o  CRL002087 + CRL002088: 3.00m @ 35.8 g/t Ag and 2.60% Cu from 298.13m in CRD020

o  CRL000371: 1.11m @ 52.4 g/t Ag and 3.79% Cu from 257.93m in CRD007

o  CRL000579: 0.86m @ 50.6 g/t Ag and 3.27% Cu from 326.14m in CRD009

·    To validate these relationships, 111 archived drillcore pulp samples from historical drilling were selected and submitted for Ag-specific analysis

·    The re-analyses of these samples and statistical evaluation of results indicate a strong positive relationship between copper sulphide mineralisation at Redmoor, and Ag occurrence, notable in the historic datasets. Key intersections include:

o  CRL003081: 1.0m @ 33.9 g/t Ag and 2.54% Cu from 491.24m in CRD022

o  CRL002527: 1.0m @ 30.5 g/t Ag and 4.06% Cu from 394.55m in CRD021

o  CRL001476: 1.1m @ 19.2 g/t Ag and 2.51% Cu from 121.35m in CRD010

·    From the available dataset, samples containing >0.5% Cu show an average Ag grade of 18.9 g/t Ag, while those with >1.5% Cu average 32.5 g/t Ag. These results indicate a positive correlation between copper and silver grades, and will be investigated further as the project develops

Dennis Rowland, CRL Project Manager, commented:

"As part of the relogging and resampling programme of historical CRL drill core at Redmoor, the geological team has continued the analysis of datasets from historical laboratory results.  Alongside the recently announced upgrade to historical tungsten sample results (RNS: 07/05/2025), these new results and the ongoing investigation into the potential relationship between copper and silver mineralisation at Redmoor highlight the unrecognised and unstudied potential for further economic indicators for the project.

"It is our intention to continue these investigations as we progress both the relogging and sampling campaign, and the match grant funded drilling programme, so that new datasets are available to be included in the remodelling of the Redmoor deposit for potential inclusion in the planned mineral resource estimate update in Q1 2026. "

Background: Re-analysis of Historical Pulp Samples from 2017 to 2018 Drillcore to Identify Silver Mineralisation Associated with Copper

As part of the ongoing re-logging and sampling campaign at Redmoor, a review process has continued to be undertaken on historical assay results, which has resulted in the identification of elevated silver (Ag) concentrations associated with copper (Cu) mineralisation. Through a review of the additional geological and mineralogical information gained from the current re-logging programme, coupled with a statistical and geochemical analysis of historical analytical data, a positive correlation between copper sulphide mineralisation and the presence of silver was observed.

Consequently, a batch of 111 historical pulp samples from CRL's 2017 and 2018 drill core samples were sent to ALS Laboratories, Loughrea, Ireland.  The samples were assayed using ALS method ME-ICP61 (multi-acid digestion followed by ICP-AES), specific for trace-level and low-grade silver analysis. Laboratory quality assurance / quality control ("QAQC") protocols were applied, including the use of Ag specific certified reference materials ("CRM"s), blanks, and pulp duplicates. All QAQC data was checked by CRL and returned results within acceptable tolerance limits. The results of this analysis confirmed the co-occurrence of silver with copper sulphide mineralisation and identified additional, higher-grade Ag and Cu samples, as highlighted by the following samples:

·    CRL003081: 1.0m @ 33.90 g/t Ag and 2.54% Cu from 491.24m in CRD022

o  CRL003080 - CRL003082: now grading at 4.2m @ 29.50 g/t Ag and 2.30% Cu from 490.04m in borehole CRD022*

·    CRL002527: 1.0m @ 30.50g/t Ag and 4.06% Cu from 394.55m in CRD021

·    CRL001476: 1.1m @ 19.20 g/t Ag and 2.51% Cu from 121.35m in CRD010

·    CRL002644: 0.4m @ 15.90 g/t Ag and 0.66% Cu from 367.10m in CRD023

·    CRL003206: 2.0m @ 13.60 g/t Ag and 0.29% Cu from 321.06m in CRD026

*Combined historical and recent assay results into a single result.

Compilation and statistical evaluation of results indicate a strong positive relationship between Cu and Ag grades within the SVS. Figure 1 is a scatter plot of Ag and Cu grades within samples that occur within modelled mineralisation only. This suggests a link with the SVS and East-West lode mineralisation, that is the primary target for developing the Redmoor Project. This association is thought to be separate from the known historical Redmoor lead (Pb) and silver (Ag) N-S lode that intersects the CRL defined tungsten trioxide ("WO3"), tin ("Sn") and Cu mineralised SVS (Figure 2).

These results are exploratory in nature.  No assumptions have been made regarding the potential recoverability, payability, or economic contribution of silver within the Redmoor deposit. Further metallurgical and economic studies are required. A copper domain metallurgical study is planned as part of the 2025 SPF and SML-funded drilling program, which will evaluate the potential for silver recovery as a by-product from copper mineralisation at Redmoor.

All results are exhibited in Table 1, appended to the RNS, showing the original copper result and the re-analysed silver result. Some of these results may form part of highlight intersections, composite high-grade zones, or individual sample lengths previously reported through RNS releases from 2017 and 2018, and therefore may have an effect on these previously reported intersections.

Figure  1 Relationship between Silver Grade (Ag, ppm/g/t) and Copper Grade (Cu, %) in Modelled Mineralised Zones at Redmoor.

Figure  2 Plan view of the Redmoor currently defined SVS (blue), Redmoor historical workings, including N-S Pb-Ag lode (brown) and all drilling within the Redmoor Project area filtered by Ag > 20 g/t and coloured by Ag.

Relogging and Sampling Programme Status

Work continues to progress regarding the re-logging and sampling of the 2017 drillcore with a further three drillholes re-logged and sampled, representing 1072.51m so far relogged, with 83 new samples currently being analysed at ALS Laboratories, Loughrea. A further 5,949.63m of drillcore is remaining from 17 holes for re-logging and sampling, which will continue alongside the planned drilling programme for 2025.

Furthermore, CRL is awaiting results from 328 soil samples collected during the winter period, which aim at identifying new mineralised structures in the Redmoor region and generating further targets for future exploration and improved geological understanding of the regional geology.

Change in CRL Competent Person

As part of ongoing procurement for CRL's match grant funded UK Shared Prosperity Fund project, CRL have procured the services of Snowden Optiro for geoservices including; programme oversight, data review and analysis, modelling, reporting, and provision of Competent Person services.

CRL would like to thank James Mcfarlane of R2C Mining for his previous support and services as competent person.

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.

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:	@SML_Minerals
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
Vigo Consulting		+44 (0) 207 390 0234
Investor Relations
Ben Simons/Peter Jacob/Anna Sutton
Email:	strategicminerals@vigoconsulting.com

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 ("CRL") 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)	WO3 %	Sn %	Cu %	Sn Eq1 %	WO3 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.  The Company continues seek opportunities to monetise the asset.

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.

UK Shared Prosperity Fund

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: Table of Results

Table 1: Results of recent re-analysis of historical diamond drillcore pulp samples outlining presence of silver with copper within the Redmoor Project.

Drill Hole	Sample ID	From (m)	To (m)	Interval (m)	Cu (%)	Ag (g/t)
CRD022	CRL003081	491.24	492.24	1.00	2.54	33.9
CRD021	CRL002527	394.55	395.55	1.00	4.06	30.5
CRD010	CRL001476	121.35	122.45	1.10	2.51	19.2
CRD023	CRL002644	367.10	367.50	0.40	0.66	15.9
CRD026	CRL003206	321.06	323.06	2.00	0.29	13.6
CRD004	CRL001224	210.45	210.90	0.45	0.40	13.4
CRD026	CRL003285	571.80	572.80	1.00	0.39	10.8
CRD023	CRL002678	579.52	580.52	1.00	0.10	10.5
CRD011	CRL000672	359.20	360.20	1.00	0.67	10.1
CRD011	CRL000657	359.20	360.20	1.00	0.67	9.9
CRD011	CRL000645	313.75	314.72	0.97	0.08	9.4
CRD003	CRL001002	57.42	57.88	0.46	0.49	9.2
CRD027	CRL002982	431.93	432.95	1.02	0.42	9.2
CRD004	CRL001226	212.30	212.85	0.55	0.17	8.9
CRD022	CRL003031	409.50	411.00	1.50	1.23	8.6
CRD015	CRL001751	273.74	275.75	2.01	0.69	8.3
CRD015	CRL001820	368.30	369.66	1.36	0.53	7.8
CRD029	CRL004028	325.98	326.98	1.00	0.51	7.8
CRD009	CRL000496	217.85	218.63	0.78	0.62	7.6
CRD018	CRL000939	236.18	237.18	1.00	0.26	7.2
CRD013	CRL001637	274.56	275.55	0.99	0.03	7.0
CRD013	CRL001675	333.05	333.77	0.72	0.33	6.7
CRD015	CRL001811	355.02	357.02	2.00	0.21	5.9
CRD018	CRL002021	387.17	388.17	1.00	0.30	5.6
CRD031	CRL004206	449.09	450.40	1.31	0.33	5.4
CRD011	CRL000653	343.15	344.40	1.25	0.07	5.3
CRD032	CRL003556	545.28	546.28	1.00	0.06	5.3
CRD019	CRL001976	411.00	413.00	2.00	0.34	5.0
CRD015	CRL001807	351.51	353.07	1.56	0.10	4.7
CRD018	CRL002013	379.17	381.17	2.00	0.34	4.7
CRD003	CRL001076	181.57	183.57	2.00	0.18	4.3
CRD011	CRL000654	344.40	345.55	1.15	0.28	4.2
CRD030	CRL003506	595.20	597.20	2.00	0.45	4.2
CRD013	CRL001646	292.80	294.72	1.92	0.21	4.1
CRD015	CRL001842	279.06	281.22	2.16	0.15	4.0
CRD015	CRL001809	353.07	354.05	0.98	0.12	3.8
CRD027	CRL002965	407.65	408.70	1.05	0.12	3.7
CRD028	CRL003303	361.12	363.12	2.00	0.34	3.7
CRD003	CRL001128	251.54	252.46	0.92	0.06	3.6
CRD015	CRL001806	350.37	351.25	0.88	0.15	3.6
CRD003	CRL001086	195.08	196.08	1.00	0.38	3.2
CRD005	CRL000237	372.10	372.60	0.50	0.19	3.1
CRD007	CRL000307	102.90	104.47	1.57	0.18	3.1
CRD003	CRL001003	57.88	58.60	0.72	0.07	3.1
CRD004	CRL001163	109.27	110.07	0.80	0.21	3.1
CRD006	CRL001336	288.08	288.80	0.72	0.07	3.1
CRD023	CRL002677	577.52	579.52	2.00	0.05	3.1
CRD031	CRL004257	554.04	556.04	2.00	0.17	3.0
CRD031	CRL004258	556.04	558.61	2.57	1.90	3.0
CRD003	CRL001072	176.24	177.24	1.00	0.38	2.9
CRD005	CRL000126	63.32	64.09	0.77	0.09	2.8
CRD001	CRL000008	35.55	35.80	0.25	0.09	2.7
CRD002	CRL000071	237.50	238.18	0.68	0.07	2.6
CRD021	CRL002536	414.35	415.35	1.00	0.02	2.6
CRD016	CRL000810	180.70	181.70	1.00	0.22	2.4
CRD002	CRL000107	298.42	299.00	0.58	0.15	2.3
CRD011	CRL000670	215.22	215.72	0.50	0.16	2.2
CRD003	CRL001007	95.00	95.61	0.61	0.19	2.2
CRD031	CRL004138	246.50	248.51	2.01	0.15	2.2
CRD014	CRL000789	266.40	267.22	0.82	0.12	1.9
CRD003	CRL001115	229.97	231.30	1.33	0.17	1.9
CRD006	CRL001290	210.70	211.17	0.47	0.09	1.9
CRD008	CRL001432	397.38	399.33	1.95	0.18	1.9
CRD003	CRL001111	225.14	225.72	0.58	0.03	1.7
CRD012	CRL001515	50.64	51.32	0.68	0.01	1.6
CRD012	CRL001533	103.84	105.77	1.93	0.07	1.6
CRD012	CRL001535	107.30	108.20	0.90	0.13	1.6
CRD011	CRL000651	340.02	341.93	1.91	0.05	1.5
CRD012	CRL001534	105.77	107.30	1.53	0.13	1.3
CRD011	CRL000652	341.93	343.15	1.22	0.01	1.2
CRD001	CRL001150	219.27	222.22	2.95	0.01	1.2
CRD029	CRL004027	295.34	296.40	1.06	0.10	1.2
CRD002	CRL000058	111.00	113.00	2.00	0.01	1.0
CRD018	CRL000938	235.18	236.18	1.00	0.05	1.0
CRD003	CRL001068	169.24	170.74	1.50	0.15	1.0
CRD001	CRL000002	26.35	27.09	0.74	0.06	0.9
CRD014	CRL000782	257.95	259.30	1.35	0.09	0.9
CRD001	CRL000048	252.00	254.00	2.00	0.14	0.8
CRD002	CRL000061	149.25	150.65	1.40	0.31	0.8
CRD011	CRL000617	206.12	207.12	1.00	0.13	0.8
CRD003	CRL001114	228.14	229.97	1.83	0.09	0.8
CRD008	CRL001438	408.82	409.98	1.16	0.07	0.8
CRD019	CRL001949	280.98	281.98	1.00	0.07	0.8
CRD001	CRL000047	250.33	252.00	1.67	0.10	0.7
CRD022	CRL003024	316.15	318.50	2.35	0.01	0.7
CRD031	CRL004127	177.72	180.12	2.40	0.07	0.7
CRD005	CRL000124	54.29	54.81	0.52	0.04	0.6
CRD005	CRL000160	164.70	165.10	0.40	0.19	0.6
CRD009	CRL000414	35.35	35.99	0.64	0.08	0.6
CRD011	CRL000627	227.50	228.70	1.20	0.03	0.6
CRD003	CRL001124	246.27	247.60	1.33	0.10	0.6
CRD004	CRL001170	129.41	130.00	0.59	0.02	0.6
CRD001	CRL000028	209.00	211.00	2.00	0.03	0.5
CRD002	CRL000065	162.80	163.07	0.27	0.03	0.5
CRD005	CRL000131	70.34	70.75	0.41	0.01	0.5
CRD005	CRL000148	130.62	131.62	1.00	0.01	0.5
CRD005	CRL000156	145.88	146.08	0.20	0.02	0.5
CRD005	CRL000197	78.20	79.28	1.08	0.04	0.5
CRD005	CRL000204	127.93	130.62	2.69	0.01	0.5
CRD011	CRL000616	204.12	206.12	2.00	0.07	0.5
CRD011	CRL000681	186.35	187.47	1.12	0.12	0.5
CRD014	CRL000783	259.30	261.14	1.84	0.06	0.5
CRD003	CRL001123	244.49	245.80	1.31	0.04	0.5
CRD013	CRL001703	419.62	420.60	0.98	0.01	0.5
CRD015	CRL001713	185.81	186.62	0.81	0.04	0.5
CRD020	CRL002068	256.05	258.05	2.00	0.04	0.5
CRD021	CRL002543	426.66	428.68	2.02	0.01	0.5
CRD027	CRL002920	218.25	220.25	2.00	0.05	0.5
CRD024	CRL003192	633.10	635.10	2.00	0.26	0.5
CRD026	CRL003204	166.66	167.71	1.05	0.02	0.5
CRD030	CRL003430	384.62	386.62	2.00	0.07	0.5

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