Strategic Minerals - Redmoor – Analytical Programme Update
12 November 2026
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Redmoor – Analytical Programme Update
Progress Updates on Associated Testwork Programmes
Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to provide updates on the sampling and testing programmes originating from its ongoing drilling programme, and project progress 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”). CRL has aligned its resource, metallurgical, geotechnical and mineralogical workstreams to feed directly into the feasibility programme, with a steady flow of results expected until the drill programme is complete.
Highlights – Analytical Programme Update
- 1,068 samples from 6 drillholes (CRD044, CRD045, CRD046, CRD048, CRD053 and CRD054) have been sent to ALS Laboratories in Ireland for analysis and are currently being processed, with a further 199 samples from CRD052 to be dispatched to the laboratory this week.
- Two metallurgical drillholes (CRD053 and CRD054) totalling 1,096.30m, have recently been drilled and logged; samples from both holes have been dispatched to ALS Laboratories for analysis. Results from these drillholes, coupled with samples from CRD044_D1 and historical drillcore from CRD037, will be used to initiate Phase 1 of the Metallurgical Study at the beginning of December 2026, to be undertaken by Alfred H Knight.
- A further 6 metallurgical drillholes, totalling of 3,880 m, have been scheduled in addition to the current 22,500m infill drill programme - these drillholes have been prioritised to expedite the metallurgical programme and ensure timely execution of Phase 2 of the metallurgical testwork.
- 105 geotechnical drillcore samples have been collected from 5 of the completed drillholes - these will undergo geotechnical testwork at an external laboratory, in line with international standards and industry specific testing parameters to support the geotechnical aspects of both planned feasibility studies.
- 19 drillcore samples have been selected for mineralogical and geochemical analysis - these samples have been specifically selected from mineralised zones within the granitic orebody, with the objective of characterising these geometallurgical domains.
- By combining the data collection of the metallurgical and geotechnical studies into the infill drill programme the Company can effectively accelerate the path into these studies for the prefeasibility study whilst, through the integrated programme design, ensure sufficient data is also being collected for the follow-on definitive feasibility study outputs.
- Current drillhole analysis sequencing means a phase 1 partial resource update can be scheduled before end Q1 2027, with the aim to upgrade an eastern portion of the Redmoor Inferred Mineral Resource to Indicated.
Highlights – Drilling Programme
- A total of 15 drillholes has been drilled to date, including 13 of the planned 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, drilled for resource and metallurgical testwork.
- All drilling on Pad 5 has now been completed, with the drill rig remobilised to Pad 6 and the subsequent drillhole now commencing drilling.
Mark Burnett, Strategic Minerals’ Executive Director, said:
“Redmoor‘s drill programme is advancing well, with over 7,500m completed. 696 samples have already been analysed and reported, and over 1,000 more are either in process at the laboratory or being prepared for immediate dispatch, we are now entering a period where we expect more regular batches of results. With dedicated metallurgical, geotechnical and mineralogical programmes running in parallel, we have grouped these workstreams so that each one feeds directly into the next stage of studies for the feasibility programme.”
“The addition of six metallurgical holes, totalling 3,880 m, is a deliberate decision to bring the metallurgical programme forward, with Phase 1 test work starting at Alfred H Knight in early December, including ore sorting with TOMRA. This is in addition to the 22,500m of infill drilling. This positions us to move steadily towards a defined processing flowsheet and estimated recoveries for tungsten, copper, tin and silver.”
“We expect a steady flow of results over the coming months, until drill programme completion.”
Analytical Programme Update
Analytical Programme - CRL’s analytical programme is continuing on schedule, with 696 samples having been analysed to date by ALS Laboratories, contributing to results from 3 drillholes on Pad 4; with an additional 1,068 samples from 6 drillholes (CRD044, CRD045, CRD046, CRD048, CRD053 and CRD054) are currently being processed and analysed, representing holes across the three drill sites. CRL have primarily focused sampling of the drillholes from Pad 4, to conclude all necessary drilling and analytical testwork from this site and with an objective of reviewing the progress of the drill programme and continuity of mineralisation of the Redmoor Resource at its eastward most section. Samples from CRD052 have been dispatched, with samples from drillhole CRD051 having been logged and awaiting sampling and subsequent dispatch.
Metallurgical Programme - CRL has completed two metallurgical drillholes (CRD053 and CRD054) totalling 1,096.30m, with samples dispatched to ALS Laboratories for analysis. Results from these drillholes, coupled with samples from CRD044_D1 and historical drillcore from CRD037, will be used to initiate Phase 1 of the Metallurgical Study at the beginning of December 2026, undertaken by Alfred H Knight. This Phase 1 of the metallurgical testwork will use 300kg of combined material from the aforementioned drillholes and employ the use of ore sorting technology undertaken by TOMRA, from which the sorted ore material will be used to refine the dense mineral separation (DMS) phase, gravity separation phase and froth flotation phase of the processing circuit.
Additionally, six further metallurgical drillholes, totalling 3,880 m, have been added to the current drill programme, these drillholes will be drilled, with subsequent drillcore analysed and relevant sample medium selected in order to undertake Phase 2 and 3 of the metallurgical programmes. CRL have been prioritising these drillholes to expedite the metallurgical programme and ensure timely execution of Phase 2 and 3 of the metallurgical testwork, with the objective of finalising a processing flowsheet and define final recoverabilities for tungsten, copper, tin and silver. These programmes will support the metallurgical aspects of a future Feasibility Study (“FS”).
Geotechnical Programme - 105 geotechnical drillcore samples have been collected from five of the completed drillholes, these will undergo geotechnical testwork at an external laboratory in line with international standards and industry specific testing parameters to provide data that will inform the geotechnical parameters needed to undertake a geotechnical evaluation of the Redmoor Resource. A predefined group of 10 drillholes, that are part of the current infill resource drilling programme, will be subject to this specific geotechnical sampling and testwork, coupled with downhole Optical and Acoustic Televiewer (OTV/ATV) surveys coupled with downhole geophysical surveys; these analyses and surveys will support the geotechnical aspects of a future FS.
Figure 1: 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.
For further information, please contact:
Strategic Minerals plc
+44 (0) 207 389 7067
Mark Burnett
Executive Director
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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-Copper-C 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:
Resource category
Domain
Tonnage
(Mt)NSR
(US$/t)WO3 Eq grade
(%)WO3 grade
(%)Sn grade
(%)Cu grade
(%)Ag grade
(g/t)Inferred
Tungsten HGDs
7.30
499
0.98
0.83
0.12
0.53
7.0
Tin HGDs
1.95
208
0.44
0.14
0.50
0.50
7.6
Cu Domain SVS
8.02
196
0.40
0.28
0.13
0.34
4.3
Low Grade SVS
0.12
125
0.25
0.17
0.10
0.16
2.7
Total Inferred
17.40
324
0.65
0.49
0.17
0.44
5.8
Total Mineral Resources
17.40
324
0.65
0.49
0.17
0.44
5.8
The preceding statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures.
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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