REG-Critical Mineral Resources Plc: Drilling Results

Critical Mineral ResourcesAnnouncement

02/06/2026 07:02

2 June 2026

 

 

 

 

Critical Mineral Resources Plc

Drilling results and in-house block model

 

Critical Mineral Resources plc (“CMR”, “CMRS”, “Company”) is
pleased to provide an update from the Agadir Melloul copper silver project.

Drilling continues to confirm laterally extensive, near-surface copper-silver
mineralisation at Agadir Melloul. The shallow and gently dipping nature of the
mineralisation supports management's view that the project has potential for
favourable development economics, subject to ongoing technical and economic
studies.

Drill results have been processed and modelled by the Company’s Senior
Geologist, one of Morocco’s pre-eminent resource modelling experts. This
internal model is presented below and subject to economic studies is
sufficient for development of the Initial Mine. The Company shall continue to
release drill results on a regular basis going forward. The turnaround for
assays is three to four weeks from samples arriving at the laboratory.

 

Highlights

New drill results include:
*            9.7m at 0.74% Cu and 4.46g/t Ag from 25.2m, inc.           *     
                      2.2m at 1.05% Cu and 3.5g/t Ag from 25.2m, and         
   
*              3.6m at 0.98% Cu and 6.22g/t Ag from 29.3m            
          
*            3.0m at 1.12% Cu and 5.75g/t Ag from 24m           
*            1.9m at 1.20% Cu and 4.33g/t Ag from 38.3m          
*            4.0m at 0.70% Cu and 0.93g/t Ag from 3.0m          
*            1.0m at 4.52g/t Au from 10.0m
 

Internal geological and block modelling work
*            Less than 5% of sedimentary target drilled to date.          
*            Multiple higher-grade zones identified for follow-up drilling.   
      
*            Modelling continues to support management's confidence in the
scale potential of the project ahead of the maiden JORC Resource Estimate
targeted for Q3 2026.          
*            Drill spacing predominantly 50m x 100m and 100m x 100m for high
confidence and likely to convert to Measured and Indicated.
 

General progress
*            April drill metres of 1,300m.          
*            May drill metres of circa 900m due to Eid El Adha holiday. Next
long public holiday Eid El Fitr in following Ramadan in March 2027.          
*            Technical committee being established with first meetings and
site visit towards the end of June.
 

 Copper assays                                        
 BH155   1.7m at 1.60% Cu and 3.10g/t Ag from 26.4m   
 BH156   3.0m at 1.12% Cu and 5.75g/t Ag from 24.0m   
 BH157   9.7m at 0.74% Cu and 4.46g/t Ag from 25.2m   
 Inc.    2.2m at 1.05% Cu and 3.50g/t Ag from 25.2m   
 and     3.6m at 0.98% Cu and 6.22g/t Ag from 29.3m   
 BH58    1.9m at 1.20% Cu and 4.33g/t Ag from 38.3m   
 BH56    4.0m at 0.70% Cu and 0.93g/t Ag from 3.0m    
 BH118   3.0m at 0.63% Cu and 1.00/t Ag from 28.0m    
 BH124   1.3m at 0.84% Cu and 2.30g//t Ag from 32.0m  
 BHR53   2.0m at 0.71% Cu and 1.00g/t Ag from 7.0m    
 Gold assays                                          
 BHR 06  1.0m at 4.52g/t Au from 10.0m                
 BHR 07  1.0m at 2.50g/t Au from 4.0m                 

 

Internal block model and resource progress

Management is very satisfied with the progress of the Agadir Melloul internal
resource. The internal resource is modelled by our Senior Geologist, one of
Morocco’s leading resource geologists, a technical auditor for the two of
largest mining companies in Morocco and an expert in the copper deposits and
copper resource modelling in the Anti-Atlas copper belt.

 

Fig.1 Internal resource model



Source: Company

 

Fig.2 Example cross section



Source: Company

 

Charlie Long CEO commented:

“It is fantastic to see more good drill results and our internal resource
model for Agadir Melloul taking shape. The growing geological model continues
to strengthen our confidence in the project's development potential as we
advance towards a maiden JORC Resource Estimate. The internal model has been
prepared by a very experienced resource geologist and provides an important
foundation for the Company's ongoing resource estimation work.

The Agadir Melloul exploration programme was designed with tight-spaced drill
holes, which combined with the sediment hosted style of mineralisation, means
we are very confident about what we have and what the potential is. We have
been working to international QA/QC standards, using the best equipment,
latest software and one of the best assay laboratories in Africa.

We also benefit from the geological understanding developed at the nearby
Tizert copper deposit, which provides a useful regional analogue for ongoing
exploration at Agadir Melloul. This helps guide our exploration strategy and
supports management's confidence in the broader exploration potential of the
project.

For example, we are finding areas with wide mineralisation up to 10m thick, a
feature of parts of the Tizert resource. Hole BH157 announced today shows we
have similar thick zones, and at approximately 10m thick, you don’t need
much of a footprint to add tonnage very quickly. It’s worth noting that one
of our acquisition properties, which we expect to close shortly, has copper
mineralisation outcropping over at least a 10m interval. We anticipate
discovering multiple areas like these with thick, near surface, copper
mineralisation.”

 

Technical summary of drilling programme

As part of a mineral exploration and development program conducted in
accordance with international reporting standards, including NI 43-101, SAMREC
and JORC Code, the drilling campaign is being conducted to evaluate the copper
potential of the Agadir Melloul project.

As of May 23, 2026, a total of 176 holes had been drilled, of which 172 have
been geochemically analysed in the laboratory. The total length drilled is
6,711 m, with depths ranging from 5.3 m to 85 m and an average of 38 m. The
total linear area analysed in the laboratory reaches 1,591 m. All the work was
carried out according to rigorous quality control protocols (QA/QC), including
the systematic insertion of standards, blanks and duplicates, in accordance
with the requirements of the main codes.

The interpretation of the analytical results was performed by applying several
arbitrary cut-off grades (% Cu), in order to assess the distribution of the
mineralization and its sensitivity to economic parameters.

The results are summarized in the table below.

 Cut-off grade (% Cu)  Positive drill holes  % of samples positive  Interpretation                                       
 0.20 % Cu             57                    33.13 %                Extensive mineralization, including low-grade zones  
 0.25 % Cu             48                    28.00 %                Improving economic potential                         
 0.30 % Cu             40                    23.26 %                Most enriched areas of the mineralized system        

 

Recent drilling continues to demonstrate continuity of shallow mineralisation
across multiple areas of the project and provides additional data for the
Company's planned maiden JORC Resource Estimate.

The analysis of this data highlights several key findings:

•                     At a cut-off grade of 0.20% Cu, 57 holes are
positive, representing 33.13% of the holes assayed. This result reflects
relatively extensive mineralization, although encompassing low-grade zones.

•                     At a cut-off grade of 0.25% Cu, the number of
positive holes is reduced to 48 (28%) indicating an improvement in economic
potential.

•                     At a cut-off grade of 0.30% Cu, 40 holes remain
positive (23.26%) which corresponds to the most enriched zones in the
mineralized system.

The maximum observed grade (2.66% Cu) remains constant for all three
scenarios, suggesting the presence of high-grade zones regardless of the
cut-off grade applied.

This evolution highlights a classic relationship in mineral exploration: an
increase in the cut-off grade leads to a decrease in the mineralized volume
but an increase in the average grade, which is decisive in the economic
evaluation of a project.

Within the framework of the NI 43-101, SAMREC and JORC codes, these results
are validated by fieldwork, highlighting:
*            the geological and structural continuity of the mineralization,  
        
*            the representativeness of the samples analysed,           
*            the robustness of the QA/QC procedures, and           
*            the appropriateness of the economic assumptions used.
At this stage, the data presented are exploration results and do not yet
constitute an official mineral resource estimate. However, they represent a
solid basis for:
*            the development of a three-dimensional geological model,         
 
*            the definition of mineralized envelopes (wireframes),           
*            the planning of additional boreholes (infill and extension),     
     
*            and, ultimately, the estimation of mineral resources according to
the categories defined by international standards.
In conclusion, the integration of these quantitative results, including
drilled and analysed core as well as cut-off grade variations, provides a
better understanding of the potential of the deposit and its sensitivity to
economic parameters, and is an essential step towards the advanced phases of
mine development.

With drilling ongoing, management's near-term focus remains on metallurgical
testwork, process flowsheet development, the maiden JORC Resource Estimate and
advancement of feasibility studies.

 

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 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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