REG-Critical Mineral Resources Plc: Drilling Results

Critical Mineral ResourcesAnnouncement

29/04/2026 07:02

29 April 2026

                       

 

 

Critical Mineral Resources Plc

Excellent copper grades, thickness and continuity of mineralisation at Agadir
Melloul

 

Critical Mineral Resources plc (“CMR”, “CMRS” or the “Company”) is
very pleased to report its first assay results from its 2026 drill programme
at Agadir Melloul. As previously reported, drilling rates ramped up during
February and March as the weather improved and CMR is now achieving a rate of
approximately 1,200m per month, this drill programme is fully funded and
expected to lead to a maiden resource by Q3 2026.

Going forward, CMR expects to release regular assay results once every four to
five weeks.

The assay results reported today demonstrate consistent copper mineralisation
including zones of excellent thickness and copper grade. In some areas, copper
mineralised drill intercepts averaged approximately 5m true width,
significantly above the Company’s average-width target of 2m. These near
surface, high-grade results illustrate the opportunity for open pittable
mining on this district-scale deposit.

 

Highlights
*            Excellent drill results include:           *              5.0m at
1.20% copper, 0.77g/t Au and 1.4g/t silver from 24m,             
*              3.7m at 1.76% copper and 8.6g/t silver from 6.3m, and          
 
*              4.0m at 1.20% Cu and 0.9g/t Ag from 18m.            
          
*            Sediment hosted mineralisation being delineated rapidly as the
Company targets publication of its Maiden Resource Estimate during Q3 2026.   
      
*            Growth potential very significant with less than 3% of the
project area drilled.          
*            Management maintains its base case medium term exploration target
of 25 million tonnes                       (
             
              1
             
            )                      .
 

 BH100  5.0m at 1.20% Cu, 0.77g/t Au  (2)  and 1.42g/t Ag from 24m inc. 3.0m at 1.64% Cu, 1.16g/t gold and 1.85g/t Ag from 25.1m  
 BH107  5.0m at 0.77% Cu and 1.13g/t Ag from 24m inc. 3.0m at 1.04% Cu and 1.22g/t Ag from 25.0m                                  
 BH108  4.0m at 1.03% Cu and 1.0/t Ag from 22m                                                                                    
 BH110  3.0m at 0.8% Cu and 1.0g/t Ag from 20m                                                                                    
 BH111  7.0m at 1.06% Cu and 1.0g/t Ag from 24m inc. 3.0m at 1.49% Cu and 1.0g/t Ag from 27m                                      
 BH114  7.0m at 0.91% Cu and 0.9g/t Ag from 17m inc. 4.0m at 1.20% Cu and 0.9g/t Ag from 18m                                      
 BH119  2.5m at 1.4% Cu and 8.6g/t Ag from 27m                                                                                    
 BH10   3.7m at 1.76% Cu and 1.0g/t Ag from 6.3m                                                                                  
 BH11   2.6m at 0.95% Cu and 1.1g/t Ag inc.1.6m at 1.27% from 17.4m and 0.73g/t Ag from 18.4m                                     
 BH15   1.5m at 1.32% Cu and 20.31g/t Ag from 41.0m and 1.0m at 1.45% Cu and 23.5g/t Ag from 44.5m                                
 BH17   1.7m at 0.92% Cu and 1.78g/t Ag from 38m                                                                                  

 

(1)             The potential quantity and grade of the Exploration Target is
conceptual in nature. There has been insufficient exploration or modelling
work to estimate a Mineral Resource and it is uncertain if further exploration
will result in the estimation of a Mineral Resource.

(2) Traces of gold reported over >2m in holes BH11, BH15, BH17, BH118, BH119

 

Charlie Long CEO commented:

“These results continue to confirm a shallow, coherent copper system with
widths and grades that are consistent with an open pit development scenario.
Importantly, several intercepts exceed our initial thickness assumptions,
which has positive implications for potential mining inventory and economics.

Our immediate focus is on systematically extending these and other zones ahead
of a maiden resource in Q3, while advancing metallurgical work to validate
processing assumptions. With less than 3% of the target area drilled, we see
significant scope to grow both tonnage and confidence in the system"

 

Russell Tucker NED commented:

“We invested in Agadir Melloul and the CMR management team based on clear
evidence of a near surface copper silver deposit with scale potential.
Today’s drill results, alongside those announced previously, support our
initial assessment. We are particularly encouraged by the thicker zones and
the fact that only a fraction of the project has been drill tested”

 

Conversion shares

The Company has received conversion notices of 33,721,061 and 45,273,349
shares from strategic investors which shall result in our largest shareholder
maintaining a 28.5% position. Of these shares, 35,121,879 are issued today
with the balance and admission of the new shares to take place after our AGM,
expected to be towards the end of June. The total number of voting rights in
the Company is 376,699,158.

 

2026 development timeline

 Milestone                                                      Target Timing                                         
 Metallurgical testwork programme (laboratory and pilot plant)  May – Jun 2026                                        
 Process flowsheet development and preliminary plant design     By Jul 2026                                           
 Geotechnical studies                                           By Jul 2026                                           
 Processing plant Environmental Impact Assessment submitted     By Aug 2026                                           
 Maiden JORC Mineral Resource Estimate                          Sept 2026                                             
 Mine planning and production scheduling studies                Oct – Nov 2026                                        
 Definitive Feasibility Study completion                        Target Dec  2026                                      
 Processing plant EIA approval                                  Target Dec -  2026 (subject to regulatory timelines)  

 


Competent Person Statement

The technical exploration and mining information contained in this
announcement has been reviewed and approved by Mr. Robert Nigel Chapman. Mr.
Chapman has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity to
which he is undertaking to qualify as a Competent Person as defined in the
2004 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves and as a qualified person under the AIM
Note for Mining, Oil and Gas Companies. Mr. Chapman is an employee of Luna
Recursos Naturales SAC, an independent geological consultancy established in
2014 and is a Member of the Australasian Institute of Geoscientists (A.I.G.)
Mr. Chapman has visited Agadir Melloul and consents to the inclusion in this
Announcement of such information in the form and context in which it appears.

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

 

ENDS

 

 Critical Mineral Resources plc   Charles Long,  Chief Executive Officer  info@cmrplc.com       
 Shard Capital LLP   Erik Woolgar  Damon Heath                            +44 (0) 207 186 9952  

 

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company
focused on developing assets that produce critical minerals for the global
economy, including those essential for electrification and the clean energy
revolution. Many of these commodities are widely recognised as being at the
start of a supply and demand super cycle.

CMR is building a diversified portfolio of high-quality metals exploration and
development projects in Morocco, focusing on copper, silver and potentially
other critical minerals and metals. CMR identified Morocco as an ideal
mining-friendly jurisdiction that meets its acquisition and operational
criteria. The country is perfectly located to supply raw materials to Europe
and possesses excellent prospective geology, good infrastructure and
attractive permitting, tax and royalty conditions. In 2023, the Company
acquired an 80% stake in leading Moroccan exploration and geological services
company Atlantic Research Minerals SARL.

The Company is listed on the London Stock Exchange (CMRS.L). More information
regarding the Company can be found at                      www.cmrplc.com



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