Extension of St Patrick Research Permit

Technology Minerals PLC

27 July 2026

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

27 July 2026

Technology Minerals Plc

("Technology Minerals" or the "Company")

Extension of St Patrick Research Permit

Technology Minerals Plc (LSE: TM1), the UK listed company building a platform for critical resources, circular economy infrastructure and sovereign capability, is pleased to announce that it has secured a two-year extension of the St Patrick Research Permit (PI "Saint Patrick" No. 30,858) in northwest Spain. The licence, which includes the historic Aramo Mine and is held through the Company's wholly-owned Spanish subsidiary Asturmet Recursos S.L., is now valid until 21 June 2028.

This extension secures ongoing access to an advanced copper‑cobalt‑nickel project that could support the UK's future technology, energy and defence needs by contributing to more resilient supply chains for designated critical minerals. It also provides time for the Company, working alongside potential partners, to complete a more thorough assessment of the asset's scale, grade continuity and potential value within the Mantle framework.

As part of its Mantle strategy, Technology Minerals is focused on combining upstream resources and downstream processing to strengthen the UK's access to critical minerals and battery metals. In this context, St Patrick is being evaluated against clear criteria: its potential to contribute to UK and European supply security in copper, cobalt and nickel; its ability to support future domestic processing and manufacturing capability; and its attractiveness as a project for strategic partners from industry and government.

Copper, cobalt and nickel are designated critical minerals in the UK, essential to power transmission, battery storage, high-performance alloys and defence platforms. The UK currently has no domestic primary production of these minerals. Mantle's purpose is to reduce the UK's dependency on supply agreements with third countries by securing resource and manufacturing capability, and St Patrick is one of the few European assets of its type that could contribute across all three metals.

Importantly, the extension does not in itself commit the Company to material further expenditure. Any next phase of work will be scoped and sequenced in line with the Company's capital discipline, undertaken alongside a partner, and assessed against its existing working capital and portfolio of early‑stage critical mineral investments.

Background

The St Patrick Licence forms part of the Company's Asturmet Project, acquired in August 2021 and focused on cobalt-nickel-copper mineralisation across a package of exploration permits in the Principality of Asturias. The licence was originally awarded in June 2019 and includes the historic Aramo Mine. An application for extension was submitted in May 2026; the plan of work submitted with that application has been approved and the licence extended for a further two years.

The extension remains subject to the condition that the planned underground drilling campaign at the Aramo Mine may not commence until separately authorised under the related drilling-project application (file AUTO/2026/24415), which remains under review by the regional mining authority. This staged regulatory approach is consistent with Technology Minerals' strategy of progressing projects in a measured, de‑risked manner.

Work completed to date on the St Patrick Licence includes:

·    A lithogeochemical characterisation sampling survey confirming high-grade copper-cobalt-nickel mineralisation at the historic Aramo Mine;

·    Underground sampling at the Aramo Mine (Level 3, across four historically partially stoped areas);

·    A 3D laser survey of Levels 3 and 4, providing high-quality data for more intensive underground mapping, 3D modelling and sampling;

·    Underground grab sampling across multiple mineralised veins and alteration zones, with assays ranging up to 28% copper, up to 1.88% cobalt and 0.1-1.68% nickel; and

·    A broad characterisation study of the extensive zones of alteration and mineralisation observed on Levels 3 and 4.

Grab samples are selective by nature and are taken to identify the presence and style of mineralisation; they are not necessarily representative of the mineralisation hosted at the Aramo Mine as a whole, and the assay results referred to above should not be interpreted as indicative of average grade across the licence area.

Nick Bridle, Chief Operating Officer, said: "Securing this extension protects an important, advanced exploration asset and gives us the time we need to assess, within the Mantle framework,  how best to deploy it in support of UK's critical minerals and defence resilience agenda. Our focus is on value-accretive decisions for shareholders made in partnership with industry. The extension itself does not commit the Company to material further spend, which is consistent with the capital discipline supporting Mantle."

Lester Kemp, Head of Exploration and Development, said: "St Patrick has the potential to become a flagship European copper-cobalt-nickel project of its type. The work completed to date demonstrates high-grade mineralization and provides a strong platform for further evaluation. Developing domestic and European sources of copper, cobalt and nickel is an important part of reducing reliance on non-European supply of these critical materials and St Patrick is a rate asset with exposure across all three."

Enquiries

Technology Minerals Plc
Alex Stanbury, Chief Executive Officer	c/o [phone]
Oberon Capital (Broker)
Nick Lovering, Adam Pollock	[phone]
Gracechurch Group (Financial PR)
Harry Chathli, Alexis Gore, Rebecca Scott	[phone]

About Technology Minerals Plc

Technology Minerals is developing the UK's first listed, sustainable circular economy for battery metals, using cutting-edge technology to recycle, recover, and re-use battery technologies for a renewable energy future. Technology Minerals is focused on raw material exploration required for Li-ion batteries, whilst solving the ecological issue of spent Li-ion batteries, by recycling them for re-use by battery manufacturers.

Technology Minerals' Mantle Strategy

The Mantle strategy is Technology Minerals' repositioning as a listed national resilience company, built on the conviction that the private sector must play a central role in securing the UK's sovereign supply of critical resources, capabilities and infrastructure. It aligns the Company directly with the UK Government's Critical Minerals Strategy (Vision 2035) and its targets for domestic production, recycling and reduced reliance on single-country supply.

Mantle is executed across three pillars: Natural Resources (domestic reclamation, extraction, international exploration and stockpiling, anchored by Recyclus Group and the Company's mineral exploration assets); Critical Capabilities (foundational midstream and downstream capacity); and an Enabling Ecosystem (the partnerships and investments needed to pre-empt emerging requirements). Delivery will begin with a consolidation phase that resets the balance sheet and catalyses existing assets, followed by execution of a near-term pipeline of value-accretive opportunities - several revenue-generating and aligned with UK defence and national resilience requirements - as the Company scales towards becoming a critical part of the UK's resilience ecosystem.

Further information on Technology Minerals is available at www.technologyminerals.co.uk

 

END