Redmoor - Discovery of New Tin Zone

Strategic Minerals PLC

26 February 2026

 

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.

26 February 2026

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor - New Tin Zone Discovery of Scale Confirmed North of Redmoor SVS

North Tin Zone represents additional long-term potential for significant resources growth at Redmoor

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, announces that its wholly owned subsidiary, Cornwall Resources Limited ("CRL"), has confirmed the discovery of a new tin zone, currently called the "North Tin Zone", at the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

The discovery of this distinct and continuous, tin-dominant zone of mineralisation separate to the Redmoor Sheeted Vein System ("SVS") deposit has been confirmed following the analysis of results from CRD041 (see RNS 25 February 2026), alongside the historical relogging programme, the newly validated 1980s datasets from Southwest Minerals ("SWM") and the subsequent new deposit model.

Updated geological modelling of the North Tin Zone, which is imaged below, indicated the presence of a laterally continuous mineralised structure of meaningful scale*¹. Subject to estimation and assessment of Reasonable Prospects for Eventual Economic Extraction ("RPEEE"), this zone may have the potential to support future Mineral Resource definition.

Highlights

·    Confirmation of the discovery of a new, large, mineralised structure separate to the SVS deposit (the "North Tin Zone") (see Figures 1, 2, and 3).

·    The intersect from CRD041, along with the recent validation and inclusion of the SWM 1980s drillhole data and following results from CRL's historical relogging and sampling programme, have defined this new, distinct, and continuous zone of mineralisation.

·    Given its continuity, grades, and size, the North Tin Zone will be subject to estimation and RPEEE analysis, as part of the forthcoming Mineral Resource Estimate ("MRE") update, with the potential to add a meaningful, tin-dominant, non-SVS resource in addition to the forthcoming SVS MRE update.

·    CRD041 intersected the North Tin Zone containing visible cassiterite (see Figures 1 and 2; related core photographs were published by the Company on 1 December 2025 and assays reported 24 February 2026) with a sample intersect of 4.00m @ 0.25% Sn, 0.01% Cu from 476.00m, including:

o  2.00m @ 0.40% Sn, 0.02% Cu & 0.00 WO3 (0.34% WO3.Eq) from 478.00 m.

·    Highlights of historical intersect for the North Tin Zone*¹, include:

o  1.00m @ 5.13% Sn and 0.01% Cu from 366.51 m in CRD029

o  0.70m @ 3.40% Sn and 0.71% Cu from 148.92 m in RM82_24

o  1.00m @ 1.33% Sn, 0.01% WO₃ & 0.02% Cu from 255.03 m in CRD027

o  1.00m @ 2.56% Sn, 1.49% WO₃ & 0.09% Cu from 371.35 m in CRD027

Further sample intersects are detailed in Table 2, below.

·    Additional targeted relogging and sampling of CRL drillcore outside of the SVS is underway to further define the potential extent of the North Tin Zone, and other non-SVS mineralised zones, which have been noted in recent drilling and historical datasets.

Figure 1: Long section looking south of the 2019 SVS model (shown in gold), showing the trace of CRD041 coloured in red. Also showing the updated granite model surface (pink) at depth, and other drillholes (black). The newly discovered North Tin Zone is represented in green; this model highlights the size and strong continuity of the newly identified structure.

Dennis Rowland, CRL Managing Director, said:

"Programme results and new modelling outputs have confirmed the discovery of a new tin-dominant mineralised structure outside of the SVS deposit, and therefore also separate to the SVS high-grade zone 2019 MRE. The new North Tin Zone contains visible cassiterite and has been shown to be a large, distinct and continuous structure. This zone will be included in the estimation and RPEEE analysis as part of the forthcoming MRE.

Recent successes at Redmoor, including this discovery, reflect the project's strengths and the team's consistent strong delivery, supported by effective leadership. The Company considers the North Tin Zone of mineralisation to represent additional long-term potential for significant resource growth at Redmoor, alongside the aim for continued expansion of the SVS deposit, subject to drilling and estimation."

Charles Manners, Strategic Minerals Executive Chairman, said:

"The Company is pleased to announce the discovery of a new zone of mineralisation, currently referred to as the North Tin Zone, at Redmoor. This zone has previously gone unnoticed, falling outside of known structures and the SVS deposit and resource. However, following CRL's impressive and successful results from the 2025 drill programme - including the confirmation of the validity of the 1980s drill data - and the positive results from the relogging and sampling programme, these new datasets have all contributed to the updated geological modelling which has demonstrated the additional potential for mineralisation at Redmoor separate to the SVS.

The Redmoor project is polymetallic and contains tungsten, tin, copper and silver - all of which benefited from tightening supply and surging demand, with liquid markets like copper and tin expressing this through price rallies while tungsten's gains appear mainly as structurally firm contract pricing driven by critical-mineral security concerns. There is no doubt that Redmoor is endowed with a very advantageous basket of minerals."

Detail of North Tin Zone Discovery

CRD041 (see Table 1, and Figures 2 and 3) was the final drillhole drilled from Pad 3 at Redmoor between October and December 2025. CRD039, the second last drillhole, has been delayed at the laboratory due to additional QAQC checks but is expected to be received shortly.

Table 1: Drillhole collar data for CRD041.

Pad Number	Collar				Orientation at Collar		Total Depth (m)
	DH	Easting (m)	Northing (m)	Elevation (m)	Azimuth (⁰)	Dip (⁰)
3	CRD041	235881.0	71305.0	187	180	85	602.40

Figure 2:  Plan (top-down) view of the previously modelled high-grade domains (gold) used in the 2019 Redmoor MRE, showing CRD041 (red) and other CRL and SWM drillhole traces (black), and newly discovered North Tin Zone (green).

Figure 3: Cross-sectional view of the updated model, showing high-grade domains (tungsten-dominant in red and tin-dominant in green), and the newly discovered North Tin Zone in the hanging wall of the SVS deposit.

At the outset of the 2025 drilling campaign, the Company established several key objectives, including confirmation of continuity of structure and grade within the resource, verification of validity of the 1980s drillhole datasets, and testing a portion of the Redmoor JORC Exploration Target. A further objective was to validate the potential presence of additional mineralised structures outside of the Redmoor SVS which, subject to estimation, could form further resources.

As shown in Figure 2, the western, tin-dominant, extent of the deposit is less explored by drilling, represented by the lower density of drillholes than the eastern portion. The historical relogging programme, the new 2025 borehole drilling, and, through this, the validation of the 1980s drillhole datasets have led to the generation of an updated geological model. This new model highlights additional mineralised structures outside of the existing Mineral Resource, which were previously not identified, reported or modelled (examples listed below). Additional relogging and sampling of CRL drill core, outside of the SVS, is underway to further delineate the continuity and extent of these zones.

This includes the newly delineated, and currently named, North Tin Zone. As shown in Figures 1-3, this zone forms a distinct and continuous zone of mineralisation, with the sample results showing it is dominated by tin. This zone will be subject to estimation in the forthcoming MRE, and RPEEE analysis, and therefore could, following these outputs, form a new, non-SVS resource.

Table 2: Highlights of downhole composite sample intersections returned from CRL and SWM 1980s drillholes showing interval lengths and subsequent assay results for WO3, Sn & Cu. A tungsten equivalent result has also been calculated*³. Composited values use a downhole length weighted average of grades. CRL drillholes CRD015, CRD027, CRD029 were previously reported during the 2017 and 2018 drill programmes, with additional samples reported in 2024 and 2025 as part of the historical relogging programme. SWM 1980s drillholes (RM) have not previously been reported by CRL. All intersection data has been reviewed and approved by CRL's Competent Person., Laurie Hassall.

Sample Start	Drill Hole I.D	From (m)	To (m)	Interval (m)	WO3 %	Cu %	Sn %	WO3 eq. %*3
CRL Intersections
CRD001719-22	CRD015	210.84	217.84	7.00	0.01	0.07	0.67	0.58
incl. CRL001720	CRD015	211.93	213.92	1.99	0.01	0.08	1.24	1.04
CRL002927-29	CRD027	255.03	258.03	1.00	0.01	0.02	0.49	0.41
incl. CRL002927	CRD027	255.03	256.03	1.00	0.01	0.02	1.33	1.11
CRL004031-35	CRD029	364.27	368.84	4.57	0.01	0.06	1.40	1.17
incl. CRL004034	CRD029	366.51	367.51	1.00	0.01	0.10	5.13	4.24
CRL005875-81	CRD036	306.70	309.36	2.66	0.02	0.06	0.20	0.20
incl. CRL005876	CRD036	308.72	309.36	0.64	0.01	0.15	0.38	0.36
CRL006079-82	CRD037	469.00	472.00	3.00	0.00	0.01	0.36	0.30
incl. CRL006081	CRD037	469.77	470.30	0.53	0.01	0.04	2.00	1.66
CRL006661-65	CRD040	313.40	322.00	8.60	0.03	0.04	0.50	0.45
incl. CRL006664	CRD040	318.28	320.00	1.72	0.13	0.09	1.15	1.10
CRL006826-31	CRD041	472.00	480.00	8.00	0.00	0.01	0.18	0.15
incl. CRL006831	CRD041	476.00	480.00	2.00	0.00	0.02	0.40	0.34
1980s SWM Intersections
RM80_05B24042-48	RM80_05B	240.00	248.00	8.00	0.08	0.02	0.83	0.77
incl. RM80_05B24244	RM80_05B	242.00	244.00	2.00	0.32	0.00	2.80	2.61
RM80_06014016-20	RM80_06	14.00	20.00	6.00	0.01	0.02	0.29	0.26
RM80_16B24042-48	RM80_16B	240.00	248.00	8.00	0.02	0.02	0.41	0.36
incl. RM80_16B24042	RM80_16B	240.00	242.00	2.00	0.05	0.01	1.30	1.12
RM80_18314316-20	RM80_18	314.00	320.00	6.00	0.00	0.24	0.22	0.25
RM82_24286288-92	RM82_24	286.00	292.00	6.00	0.01	0.04	0.18	0.17
RM82_24A25254	RM82_24A	252.00	254.00	2.00	0.01	0.01	0.38	0.33

Note*¹ "Meaningful scale" defined by the Company as a structure that is continuous over multiple, well-spaced, drilling intersections and with a potential volume and intersection grades sufficient to justify estimation.

Note*² All sample data for CRL hole data exists from sample batches collected as part of the 2017-18 drilling programmes or the historical relogging programme with highlights reported by the Company in 2024-2025.  1980's drill hole data from SMW (RM holes) has not previously been reported by the Company. Laurie Hassall, CRL Competent Person has reviewed and approved the inclusion of these datasets.

Note*³ Tungsten Equivalent (WO₃.Eq) Calculation: WO₃ (EQ)% = WO₃%+(Sn% x 0.82) + (Cu% x 0.27)

Commodity price assumptions: WO₃ US$ 43,000/t, Sn US$ 32,525/t, Cu US$ 9,429/t.  Using the 12-month average to September 2025. Recovery assumptions: total WO₃ recovery 72%, total Sn recovery 68% and total Cu recovery 85%. Payability assumptions of 81%, 90% and 90% respectively.

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		[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 Broker
Matthew Johnson/Charlie Bouverat/Grant Barker Zeus Capital Limited Joint Broker Harry Ansell/Katy Mitchell		[phone]
Vigo Consulting		[phone]
Investor Relations
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Email:	[e-mail]

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 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.  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.

About the CIOS Good Growth Fund and UK Shared Prosperity Fund

This project is part-funded by the UK Government through the UK Shared Prosperity Fund.  Cornwall Council is responsible for managing projects funded by the UK Shared Prosperity Fund through the Cornwall and the Isles of Scilly Good Growth Programme.

Cornwall and Isles of Scilly has been allocated £184 million for local investment through the Shared Prosperity Fund.  This new approach to investment is designed to empower local leaders and communities, so they can make a real difference on the ground where it's needed the most.

The UK Shared Prosperity Fund proactively supports delivery of the UK-government's five national missions: pushing power out to communities everywhere, with a specific focus to help kickstart economic growth and promoting opportunities in all parts of the UK.

For more information, visit

https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus

For more information, visit https://ciosgoodgrowth.com

Appendix 1

Table 3: Composite intersections and individual sample results, including, sample numbers, depths and widths, metal contents and tungsten equivalent calculations.

Sample Start	From (m)		To (m)	Interval (m)	WO3 %	Cu %	Sn %	WO3 eq. %
CRD001719-22
CRL001719	210.84		211.93	1.09	0.01	0.26	0.28	0.31
CRL001720	211.93		213.92	1.99	0.01	0.08	1.24	1.04
CRL001721	213.92		215.87	1.95	0.01	0.02	0.28	0.24
CRL001722	215.87		217.84	1.97	0.01	0.01	0.70	0.58
CRL002927-29
CRL002927	255.03		256.03	1.00	0.01	0.02	1.33	1.11
CRL002928	256.03		257.03	1.00	0.01	0.01	0.03	0.03
CRL002929	257.03		258.03	1.00	0.0126	0.02	0.10	0.10
CRL004031-35
CRL004031	364.27		365.51	1.24	0.01	0.06	0.84	0.71
CRL004032	365.51		366.51	1.00	0.01	0.02	0.03	0.04
CRL004034	366.51		367.51	1.00	0.01	0.10	5.13	4.24
CRL004035	367.51		368.84	1.33	0.01	0.07	0.14	0.14
CRL005875-81
CRL005875	306.70		308.72	2.02	0.00	0.00	0.01	0.02
CRL005876	308.72		309.36	0.64	0.01	0.15	0.38	0.36
CRL005877	309.36		311.02	1.66	0.03	0.05	0.07	0.10
CRL005878	311.02		313.00	1.98	0.03	0.05	0.24	0.24
CRL005879	313.00		314.82	1.82	0.02	0.12	0.11	0.15
CRL005881	314.82		315.32	0.50	0.02	0.02	1.26	1.06
CRL006079-82
CRL006079	469.00		469.77	0.77	0.00	0.01	0.01	0.01
CRL006081	469.77		470.30	0.53	0.01	0.04	2.00	1.66
CRL006802	470.30		472.00	1.70	0.00	0.01	0.01	0.01
CRL006661-65
CRL006661	313.40		315.40	2.00	0.00	0.02	0.36	0.30
CRL006662	315.40		317.23	1.83	0.01	0.01	0.02	0.03
CRL006663	317.23		318.28	1.05	0.02	0.10	0.36	0.34
CRL006664	318.28		320.00	1.72	0.13	0.09	1.15	1.10
CRL006665	320.00		322.00	2.00	0.01	0.02	0.60	0.50
CRL006826-31
CRL006826	472.00		474.00	2.00	0.00	0.01	0.18	0.15
CRL006827	474.00		476.00	2.00	0.00	0.00	0.02	0.02
CRL006828	476.00		478.00	2.00	0.01	0.01	0.11	0.09
CRL006831	478.00		480.00	2.00	0.00	0.02	0.40	0.34
RM80_05B24042-48
RM80_05B24042	240.00		242.00	2.00	0.01	0.03	0.19	0.17
RM80_05B24244	242.00		244.00	2.00	0.32	0.00	2.80	2.61
RM80_05B24446	244.00		246.00	2.00	0.01	0.01	0.03	0.03
RM80_05B24648	246.00		248.00	2.00	0.00	0.06	0.30	0.26
RM80_06014016-20
RM80_06014016	14.00		16.00	2.00	0.01	0.01	0.51	0.43
RM80_06016018	16.00		18.00	2.00	0.01	0.04	0.09	0.10
RM80_06018020	18.00		20.00	2.00	0.01	0.02	0.28	0.25
RM80_16B24042-48
RM80_16B24042	240.00		242.00	2.00	0.05	0.01	1.30	1.12
RM80_16B24244	242.00		244.00	2.00	0.01	0.03	0.04	0.05
RM80_16B24446	244.00		246.00	2.00	0.01	0.02	0.18	0.16
RM80_16B24648	246.00		248.00	2.00	0.00	0.03	0.12	0.11
RM80_18314316-20
RM80_16B24042	314.00		316.00	2.00	0.01	0.42	0.47	0.51
RM80_16B24244	316.00		318.00	2.00	0.00	0.02	0.06	0.05
RM80_16B24446	318.00		320.00	2.00	0.00	0.27	0.14	0.19
RM82_24286288-92
RM82_24286288	286.00		288.34	2.34	0.01	0.02	0.07	0.07
RM82_24288289	288.34		289.20	0.86	0.01	0.21	0.47	0.45
RM82_24289290	289.20		290.00	0.80	0.01	0.02	0.24	0.21
RM82_24290292	290.00		292.00	2.00	0.01	0.01	0.17	0.15
RM82_24A25254	252.00		254.00	2.00	0.01	0.01	0.38	0.33

 

END