Critical Mineral Resources Plc - Drilling Results

Critical Mineral Resources Plc

Gold discovery and more shallow copper mineralisation

Critical Mineral Resources plc (“CMR”, “Company”) is very pleased to report further highly encouraging results from its maiden core drilling programme at Agadir Melloul, continuing to delineate shallow copper mineralisation at Zone 2 North, as well as an extremely exciting shallow gold intercept of 2.5g/t Au over 1.0m from 5m.

Drill results

Excellent near surface copper intercepts continue:

• BHR09:10.0m at 1.1% Cu and 20g/t Ag and 0.12g/t Au from surface
• BHR05: 1.0m at 1.44% Cu from 10.0m
• BHF01: 2.0m at 0.95% Cu from 29.0m
• BHR10: 3.0m at 0.82% Cu and 12g/t Ag from 3.0m
• BH46: 4.0m at 1.1% Cu and 4g/t Ag from 16.4m
• BH50: 3.0m at 0.80% Cu and 4g/t Ag from 31.0m
• BH51: 3.0m at 1.1% Cu from 32m
• BH52: 1.0m at 1.69% Cu and 4g/t Ag from 16.8m

New near surface gold intercepts of:

• BHR07: 1.0m at 2.5g/t Au from 5.0m
• BHR04: 1.0m at 0.6g/t Au from 13.6m
• BHR13: 1.0m at 1.05g/t Au from 11.0m
• BHR20: 0.8m at 1.67g/t Au from 21.2m
   

• Approximately 1% of the project area has now been drilled with further results expected in late January to early February, including the first assays from the Company’s drill rig.
   
• Shallow copper mineralisation, amenable to open pit mining, now confirmed at both Zone 1 and Zone 2.
   
• Assay results to date remain consistent with CMR’s Exploration Target and geological model of shallow copper mineralisation with potential for low capital intensity and attractive operating costs.
   
• The new gold discovery and Rhyolite Target add significant upside potential to the original limestone / sedimentary hosted copper mineralisation model.
   
• The company is still on track to break ground on the Initial Mine Development in 2027, with a maiden JORC resource expected as early as H1 2026.

Fig.1  Zoomed in map showing location of gold intercepts

Source: Company

Charlie Long CEO commented:

“Agadir Melloul is shaping up as a copper, silver and gold project, three of the most compelling metals of the current cycle. Our drilling continues to define shallow copper mineralisation, and we now have the extremely exciting addition of a gold discovery, also in a shallow setting.

In the latest results, we intercepted another 10m of nicely mineralised rhyolite, adding further support for more than one mineralised system and expanding the opportunity beyond the initial model. There are also two copper-silver mineralised quartz veins within the project which will be mapped and drilled in due course. These are expected to add higher grade tonnage to the resource for blending with lower grade material.

So our targets now include sedimentary copper in carbonates, copper mineralised rhyolite, a gold system, and the copper vein structures we have not yet drilled.

Our strong belief is that, over time, drilling will delineate multiple zones of potentially economic shallow copper mineralisation, within broader envelopes of lower grade material. In our view, it is only a matter of time and drill metres before we define sufficient resources to push the button on construction of a starter operation, what we’ve named the Initial Mine. We expect that decision to be made in early 2027”

Outlook

CMR remains firmly on track to deliver a shallow, open pittable, maiden resource by late Q2 to early Q3 2026, sufficient in scale to underpin the Initial Mine development. CMR’s longer term Initial Exploration Target of 150,000 to 200,000 tonnes of contained copper is based on a shallow, semi-continuous tabular resource with a 2.0m average thickness and an average grade of 1.2% copper equivalent.

Following publication of the resource estimate in H1 2026, CMR will immediately commence the Agadir-Melloul feasibility study and Environmental Impact Assessment for the processing plant, targeting construction of the Initial Mine during 2027. With the Company’s own, new rig now operational, we expect drilling to be maintained at a steady rate with fewer breakdowns.

The project is emerging as one of the most compelling new copper discoveries, combining shallow geometry, good grades, attractive scale potential, and multi system upside, a combination rarely seen at this early stage of exploration.

Competent Person Statement

The technical exploration and mining information contained in this announcement has been reviewed and approved by Mr. Robert Nigel Chapman. Mr. Chapman has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and as a qualified person under the AIM Note for Mining, Oil and Gas Companies. Mr. Chapman is an employee of Luna Recursos Naturales SAC, an independent geological consultancy established in 2014 and is a Member of the Australasian Institute of Geoscientists (A.I.G.) Mr. Chapman has visited Agadir Melloul and consents to the inclusion in this Announcement of such information in the form and context in which it appears.

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 United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended by virtue of the Market Abuse (Amendment) (EU Exit) Regulations 2019.

ENDS

Notes To Editors

Critical Mineral Resources (CMR) PLC is an exploration and development company focused on developing assets that produce critical minerals for the global economy, including those essential for electrification and the clean energy revolution. Many of these commodities are widely recognised as being at the start of a supply and demand super cycle.

CMR is building a diversified portfolio of high-quality metals exploration and development projects in Morocco, focusing on copper, silver and potentially other critical minerals and metals. CMR identified Morocco as an ideal mining-friendly jurisdiction that meets its acquisition and operational criteria. The country is perfectly located to supply raw materials to Europe and possesses excellent prospective geology, good infrastructure and attractive permitting, tax and royalty conditions. In 2023, the Company acquired an 80% stake in leading Moroccan exploration and geological services company Atlantic Research Minerals SARL.

The Company is listed on the London Stock Exchange (CMRS.L). More information regarding the Company can be found at www.cmrplc.com