Subscription to Raise £4.7 Million

Strategic Minerals PLC

19 March 2026

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR NEW ZEALAND OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF ANY APPLICABLE LAW OR REGULATION.

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 UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

19 March 2026

Strategic Minerals Plc

("Strategic Minerals" or the "Company")

Subscription to Raise £4.7 Million

New investment led by prominent international investor to further expedite accelerated development of flagship UK tungsten project

Strategic Minerals (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce it has raised gross proceeds of approximately £4.7 million through direct subscriptions for 134,285,712 new ordinary shares of 0.1 pence each in the Company ("Subscription Shares") at a price of 3.5 pence per new ordinary share ("Issue Price"), (the "Subscription").

The Subscription was led by a prominent international investor who approached the Company, which the Board views as a strategically important moment in the Company's development.

The Issue Price represents the Company's volume weighted average price for the 30 day period to 18 March 2026 and is a discount of 16.7% to the closing mid-market price of the Company's shares on 18 March 2026, being the latest practicable date prior to the publication of this announcement.

The net proceeds of the Subscription will significantly accelerate the Company's Redmoor Tungsten-Tin-Copper Project in Cornwall ("Redmoor"), at an opportune time for the development of critical minerals.

Charles Manners, Executive Chair of Strategic Minerals, commented:

"Having been approached by a prominent international investor, the Board decided to take the opportunity to fast-track the already accelerated development of the Redmoor Tungsten-Tin-Copper Project.

"Underpinned by favourable pricing for all our minerals, this investment represents a clear endorsement of the Company's high-quality asset base, and its objective to develop Redmoor and the surrounding area into a leading source of strategic and critical minerals here in the UK to provide resilience to western world supply chains.

"We are delighted to welcome the investor to our register and are grateful for their support and confidence in the Company."

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the 134,285,712 Subscription Shares to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Subscription Shares will commence on AIM at 8.00 a.m. on or around 25 March 2026 ("Admission").

The Subscription Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing ordinary shares.

Following Admission, the total number of ordinary shares in the capital of the Company in issue will be 2,818,775,969 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.

For further information on the Company, please visit www.strategicminerals.net or contact:

Strategic Minerals plc		[phone]
Mark Burnett
Executive Director
Website:	www.strategicminerals.net
Email:	[e-mail]
Follow Strategic Minerals on:
X:	@StrategicMnrls
LinkedIn:	https://www.linkedin.com/company/strategic-minerals-plc
SP Angel Corporate Finance LLP		[phone]
Nominated Adviser and Joint Broker
Matthew Johnson/Charlie Bouverat/Grant Barker
Zeus Capital Limited  Joint Broker Harry Ansell/ Katy Mitchell		[phone]
Vigo Consulting Investor Relations Ben Simons/Peter Jacob/Anna Sutton		[phone] [e-mail]

Notes to Editors

About Strategic Minerals plc

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 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. WO₃(EQ)% = Sn% x 0.7 + WO₃ + 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.  South Pacific Mineral Investments Pty Ltd trading as Cuprum Metals has exercised an exclusive Call Option to acquire 100% of the project.

 

END