Strategic Minerals - Redmoor – Drill Programme and Analysis Update
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.
23 June 2026
Strategic Minerals plc
("Strategic Minerals" or the "Company")
Redmoor - Drill Programme and Analysis Update
Additional analysis of 2025 drilling identifies further mineralisation outside previously modelled resources while current drilling is progressing well
Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to provide updates on analytical testing of 2025 drill core and project progress at its Redmoor Tungsten-Tin-Copper Project ("Redmoor"), located in Cornwall, UK. Redmoor is being developed by the Company's wholly owned subsidiary, Cornwall Resources Limited ("CRL").
Highlights:
· 201 additional samples from CRD041 were sent to ALS Laboratories Loughrea, Ireland, as part of CRL's technical review process of the 2025 drilling programme that concluded with the 2026 Redmoor Mineral Resource Estimate ("MRE") Update (see RNS 26 March 2026). These additional results have identified tin-rich mineralised structures up to 1.00 m @ 0.67% Sn from 291.10 m, along with tungsten enriched structures, to the north of the Redmoor deposit and outside the currently modelled resource*1.
· These results have contributed to the identification of new tin and tungsten intersections outside of the Redmoor Sheeted Vein System ("SVS"), including:
o 1.00 m @ 0.67% Sn, 0.20% WO3 and 0.09% Cu (0.48% WO3. Eq*2) from 291.10 m
o 1.95 m @ 0.62% Sn, 0.01% WO3 and 0.04% Cu (0.26% WO3. Eq*2) from 353.05 m
o 0.75 m @ 0.51% Sn, 0.03% WO3 and 0.05% Cu (0.24% WO3. Eq*2) from 213.00 m
o 1.65 m @ 0.45% Sn, 0.02% WO3 and 0.14% Cu (0.22% WO3. Eq*2) from 263.00 m
· Drilling of CRD043 has concluded, with the drillhole successfully intersecting the full extent of the Redmoor SVS and the identification of strongly mineralised vein structures containing wolframite (tungsten), cassiterite (tin) and chalcopyrite (copper) respectively (see figures 1- 2). This is based on visual observations; laboratory assays are pending.
o CRD043 has been logged to date with 291 samples selected and submitted to ALS Laboratories to undergo analysis, with drilling of CRD044 currently underway.
· Drillhole CRD044 is advancing to schedule and is currently at 455.30 m of a 650.00 m planned drill depth.
· Historical re-logging and sampling of drill core from the previous 2017-2019 drilling programme continues at pace, with samples from CRD013 and CRD015 identifying additional tin-bearing structures, including:
o 1.65 m @ 0.38% Sn, 0.01% WO3 and 0.02% Cu (0.17% WO3. Eq) from 202.15 m
· Planning permission for the expanded drill programme is well advanced, with all responses to statutory comments complete. Additional drill rigs are standing ready for mobilisation to site upon successful receipt of permissions.
Dennis Rowland, CRL Managing Director, said:
"CRL's geological team are effectively working across multiple workstreams to deliver programme activities designed to generate high-quality datasets for inclusion in Redmoor's prefeasibility study. Further sampling of historical drill core and new infill drillholes are aimed at facilitating high-quality outputs and advancing geological confidence within parts of the Redmoor Mineral Resource with the objective of supporting the potential classification of Indicated Mineral Resources in the future."
"It is encouraging to see the deposit model accurately assisting in the identification of additional sampling zones from historic core, and laboratory results confirming the presence of mineralisation. These data will contribute directly to further model updates in due course."
"The project stands ready for another step-change in activities following successful receipt of planning permission for the expansion of the drilling programme. With further rigs due to arrive immediately after permissions are granted, we aim to progress a large and ambitious drill programme on a scale previously unseen in Cornwall."
Mark Burnett, Strategic Minerals' Executive Director, said:
"Redmoor continues to advance at pace and produce high-quality outputs. The team's efforts were recently recognised at the UK Mining Conference, where CRL won Exploration Discovery of the Year - recognising the exceptional results from the 2025 drilling programme, and Finance Deal of the Year - recognising the effective use of the 2025 grant funding award and the Company's ability to raise development funds. The Board has no doubt that the project will continue to produce results that demonstrate the scale and quality of the Redmoor deposit and the team developing it."
Figure 1: Drillcore showing coarse-grained wolframite in CRD043.
Figure 2: Drillcore showing coarse-grained wolframite cemented by extensive chalcopyrite mineralisation.
Notes*1: These results constitute exploration results only and are insufficient to estimate a Mineral Resource at this time.
Notes*2: WO3 Eq has been calculated using the following formula: (WO3_%+(Sn_%*0.403)+ (Cu_%*0.133) +(Ag_ppm*0.0046))
Overview of additional analytical results from drillhole CRD041
Following the publication of the 2026 Redmoor MRE, CRL has completed a review of the resource and new geological model to identify and select additional structures and zones within existing CRL drill core with the potential to contain mineralisation. Results are aimed at confirming extensions of mineralisation, such as the North Tin Zone, identifying further mineralisation, and further improving geological certainty.
Additional tin-bearing structures were identified north of the North Tin Zone, with a newly identified structure producing 1.00 m @ 0.67% Sn, 0.20% WO3 and 0.09% Cu from 291.10 m, which correlates with a previously identified interval in CRD040 producing 2.51 m @ 0.34% Sn, 0.02% WO3 and 0.09% Cu from 286.49 m (see RNS 7 May 2026). This new mineralised structure lies outside previously modelled resources and shows structural continuity between drillholes CRD040 and CRD041. This tin-tungsten rich zone will be considered when future resource infill drillholes are initiated in this area, to test the continuity of the mineralisation and support future assessment of its potential contribution to the project.
Highlights from these results include:
· 1.00 m @ 0.67% Sn, 0.20% WO3 and 0.09% Cu (0.48% WO3. Eq) from 291.10 m in sample CRL007176
· 1.95 m @ 0.62% Sn, 0.01% WO3 and 0.04% Cu (0.26% WO3. Eq) from 353.05 m in sample CRL007228
· 0.75 m @ 0.51% Sn, 0.03% WO3 and 0.05% Cu (0.24% WO3. Eq) from 213.00 m in sample CRL007115
· 1.65 m @ 0.45% Sn, 0.02% WO3 and 0.14% Cu (0.22% WO3. Eq) from 263.00 m in sample CRL007155
See Table 2 for highlights of the downhole composites and Appendix 1 for a full breakdown of individual sample results that contribute to the highlighted intersections. Reported widths are downhole.
Drill Hole I.D
Sample Start
From (m)
To (m)
Interval (m)
WO3 %
Cu %
Sn %
Ag g/t
WO3 eq. %
Comments
New Zones of Mineralisation Outside Redmoor SVS
CRD041
CRL007115
213.00
213.75
0.75
0.03
0.05
0.51
0.78
0.24
Lode-Style Sn Mineralisation
CRL007155-56
263.00
265.83
2.83
0.10
0.14
0.28
1.47
0.24
S.V.S Mineralisation
incl. CRL007155
263.00
264.65
1.65
0.02
0.14
0.45
1.56
0.22
S.V.S Mineralisation
CRL007176
291.10
292.10
1.00
0.20
0.09
0.67
0.88
0.48
S.V.S Mineralisation
CRL007183-84
297.00
300.05
3.05
0.11
0.04
0.06
0.80
0.15
S.V.S Mineralisation
incl. CRL007184
299.00
300.05
1.05
0.15
0.07
0.02
1.22
0.17
S.V.S Mineralisation
CRL007211
329.00
330.00
1.00
0.15
0.06
0.03
0.90
0.18
S.V.S Mineralisation
CRL007228
353.05
355.00
1.95
0.01
0.04
0.62
0.25
0.26
Lode-Style Sn Mineralisation
CRD013
CRL004887
197.77
199.00
1.23
0.01
0.01
0.28
0.67
0.12
Lode-Style Sn Mineralisation
CRD015
CRL007032
202.15
203.80
1.65
0.01
0.02
0.38
0.29
0.17
Lode-Style Sn Mineralisation
Table 2: Highlights of downhole composite sample intervals returned from recently received results from CRD041, updated composites and calculated WO3% Eq. Composited values use a downhole length weighted average of grades.
Additional sampling of historical drillcore and programme updates
Through the purchase of a new CoreWise rotary diamond blade core saw, CRL has been able to accelerate its sampling of historical drill core following the relogging process, with geological structures containing visible mineralisation sent to ALS Laboratories, Loughrea for analysis.
Currently, CRL has 248 samples from drillhole CRD042 awaiting analysis at ALS Loughrea and a batch of 291 samples from CRD043 recently dispatched for analysis. Furthermore, CRL has submitted an additional 59 samples from CRD001, sent on 1 June 2026, for analysis. CRL geologists are currently re-logging drillhole CRD016, drilled during the 2017-18 drilling campaign, with additional intervals already identified and selected for sampling and analysis at ALS Laboratories.
CRL, in conjunction with external consultants Snowden Optiro, are currently identifying and selecting drill core samples and planning additional drillholes to support the comprehensive metallurgical testwork that will be used in refining the previously developed mineral processing flowsheet. This programme will support in the confirmation of the most efficient and cost-effective processing route for any ore produced from any potential operation.
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
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Email:
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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 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. The Company has entered into an exclusive Call Option with South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals to acquire 100% of the project.
Appendix 1: Individual Sample Results Table for Composites
Individual Laboratory Results Per Sample used to form highlighted composite intervals in results from CRD041, CRD013 and CRD015.
Sample ranges and numbers in bold represent those listed in Table 1, above. Sample details include sample number, intersected depths and interval length. Results are reported for WO₃, Cu, Sn and Ag values, with a calculation to represent total metal on a WO₃ Equivalent (WO₃.Eq) basis.
DH I.D
Sample Start
From (m)
To (m)
Interval (m)
WO3 %
Cu %
Sn %
Ag g/t
WO3 eq. %
CRD041
CRL007115
213.00
213.75
0.75
0.03
0.05
0.51
0.78
0.24
CRL007155-56
CRL007155
263.00
264.65
1.65
0.02
0.14
0.45
1.56
0.22
CRL007156
264.65
265.83
1.18
0.22
0.15
0.04
1.34
0.26
CRL007176
291.10
292.10
1.00
0.20
0.09
0.67
0.88
0.48
CRL007183-84
CRL007183
297.00
299.00
2.00
0.09
0.02
0.09
0.58
0.13
CRL007184
299.00
300.05
1.05
0.15
0.07
0.02
1.22
0.17
CRL007211
329.00
330.00
1.00
0.15
0.06
0.03
0.90
0.18
CRL007228
353.05
355.00
1.95
0.01
0.04
0.62
0.25
0.26
CRD013
CRL004887
197.77
199.00
1.23
0.01
0.01
0.28
0.67
0.12
CRD015
CRL007032
202.15
203.80
1.65
0.01
0.02
0.38
0.29
0.17
Note: WO₃ is calculated from W results by applying a factor of 1.26 to the result
Note: WO3 Eq has been calculated using the following formula: (WO3_%+(Sn_%*0.403)+(Cu_%*0.133)+ (Ag_ppm*0.0046))
Note: Metal equivalence assumptions are consistent with those used in the 2026 MRE
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