Critical Mineral Resources Plc – Drilling Update

PR Newswire

LONDON, United Kingdom, March 18

18 March 2026

Critical Mineral Resources Plc

2026 Work Programme and Drilling Update

Critical Mineral Resources plc («CMR», or the «Company») is pleased to provide
an update on drilling activities at the Agadir Melloul copper silver project and
outline the 2026 work programme and key development milestones.

Two diamond drill rigs are currently operating on site, and drilling activity
has accelerated following the replacement of a contractor rig which had
experienced mechanical issues. Drilling rates are now exceeding 50 metres per
day across the two rigs.

Core samples from both Zone 1 and Zone 2 continue to display visible sulphide
mineralisation. Initial samples from the current drilling programme will be
submitted for laboratory analysis shortly, with first assay results expected in
mid to late April 2026. Subject to laboratory turnaround times, the Company
intends to provide drilling updates approximately every four weeks thereafter.

Drilling progress

A total of 720m of core drilling was completed in February, reflecting a
combination of adverse weather conditions and contractor rig breakdowns. These
issues have now been addressed, with a replacement contractor diamond rig now on
site while the Company’s diamond rig is operating at near full capacity.

With both rigs now operating effectively, the Company expects to drill close to
1,000 metres in March and intends to increase this rate to 1,200 metres per
month in the coming months. The drilling programme is being actively managed as
the geological model evolves, enabling work to focus on the most prospective
zones identified to date.

Highlights

· Two diamond rigs are currently in operation.
· Copper sulphide mineralisation observable in core.
· Drill programme being actively refined as the geological model evolves.
· CMR’s diamond drill is performing extremely well, and the contractor rig has
been upgraded.

2026 development timeline

Milestone Target Timing
Metallurgical test work May – Jun 2026
programme (laboratory and pilot
plant)
Process flowsheet development By Jul 2026
and preliminary plant design
Geotechnical studies By Jul 2026
Processing plant Environmental By Aug 2026
Impact Assessment submitted
Maiden JORC Mineral Resource Sept 2026
Estimate
Mine planning and production Oct – Nov 2026
scheduling studies
Definitive Feasibility Study Target Dec – 2026
completion
Processing plant EIA approval Target Dec – 2026

Drilling update

Diamond core is now being produced on a daily basis, and copper mineralisation
in both sulphides and oxides is observable in core. Figure 1 below shows copper
oxide and sulphide mineralisation from Zone 1. There will be a short operational
pause this week for Eid al-Fitr, after which drilling will continue at
approximately 50m per day.

Fig.1 March drill core

[A close up of a stone

AI-generated content may be incorrect.]

Source: Company

Charlie Long CEO commented:

«Following a challenging start to the year due to weather conditions and
contractor rig issues, drilling operations at Agadir Melloul are now running
smoothly with two rigs operating on site and drilling rates improving
significantly.

The geological model continues to evolve as new drill information becomes
available, and visible sulphide mineralisation has been encountered in multiple
zones across the project area. We expect to begin releasing assay results from
the current drilling programme in April and will provide regular updates
thereafter.

In parallel with the drilling programme, a number of important development
workstreams are progressing, including metallurgical testing, process design and
environmental studies. These activities are designed to support the delivery of
a maiden JORC Mineral Resource later this year and to advance the project
towards feasibility.

Agadir Melloul continues to demonstrate the characteristics of a potentially
significant copper system, with shallow mineralisation, encouraging grades and
considerable exploration potential across the wider licence area. As the core
photos show, we are seeing good copper mineralisation and we’re very excited
about the upcoming results»

Resource development and exploration potential

The planned maiden Mineral Resource Estimate will focus on shallow
mineralisation identified within a small portion of the overall Agadir Melloul
licence area. The Company expects this initial resource to represent less than
5% of the total project area, highlighting the significant exploration upside
across the wider land package.

CMR has defined an Initial Exploration Target of approximately 150,000 to
200,000 tonnes of contained copper equivalent, based on a shallow, semi
-continuous tabular mineralised system with an estimated average thickness of
approximately 2 metres and an average grade of approximately 1.2% copper
equivalent.

The potential quantity and grade of the Exploration Target is conceptual in
nature. There has been insufficient exploration to estimate a Mineral Resource
and it is uncertain whether further exploration will result in the estimation of
a Mineral Resource.

Following the publication of the maiden Mineral Resource Estimate in Q3 2026,
the Company plans to advance the mining studies required for the Agadir Melloul
feasibility study, including mine design and production scheduling, with the
objective of supporting the development of an initial mining operation.

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

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