Stillwater Critical Minerals Corp. provided the final tranche of drill results from resource expansion drilling completed at the Company's Stillwater West Ni-PGE-Cu-Co + Au project in Montana in 2023. Glencore has also provided on-going technical support to the project through the technical committee which included multiple site visits and assistance with geological and geophysical interpretations.

As announced May 1, 2024, Glencore made an additional investment in Stillwater, bringing them to a 15.4% equity position in the Company for total funds of approximately $7.05 million to date. The addition of Bradley Adamson, currently Glencore's Vice-President Business Development, to Stillwater's Board of Directors as announced on June 3, 2024, furthers that involvement and support. Results continue to advance the first ever detailed geological model of the lower Stillwater Igneous Complex, with an initial focus on the 25-kilometer-long main claim block that hosts the current resources.

Informed by senior in-house expertise from similar geology in the Bushveld Igneous Complex, the Company's 3D geologic model demonstrated a very high success rate during the 2023 campaign, intersecting the following mineralization styles: Platreef-style Ni-PGE-Cu-Co mineralization - The Stillwater West project covers the lower Stillwater Igneous Complex stratigraphy immediately adjacent to Sibanye-Stillwater's mining operations on the J-M Reef deposit, a 40km-long reef deposit that contains the highest palladium-platinum grades in the world, hosted within nickel-copper sulphide. Recognizing the geologic parallels with South Africa's Bushveld Igneous Complex, the Company has successfully defined large-scale deposits in Montana'sStillwater Igneous Complex that are directly analogous to the giant mines of the Platreef. Production on the northern limb of the Bushveld, or Platreef, started in 1993 at Anglo American's Mogalakwena mines and will be joined by Ivanhoe's Platreef mine later this year.

Although known primarily as a platinum group element mine, Mogalakwena is one of the largest nickel sulphide mines in the world and is the largest nickel producer in South Africa, in addition to producing a significant amount of copper. Ivanhoe's Platreef mine is projected to become the second largest nickel producer in South Africa. The mines of the Platreef are attractive because they are among the largest and most profitable mines in the world.

Their scale and grade allow the application of mechanized bulk mining methods with resulting economies of scale and low operating costs. These deposits also contain significant quantities of nickel, copper, and platinum group metals in a polymetallic combination that is globally very rare. To date, the Company has modeled five deposits of Platreef-style mineralization located primarily in the peridotite zone of the lower Stillwater Igneous Complex, hosting a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold, as announced January 2023.

The peridotite zone at Stillwater varies from approximately 400 to 800m in thickness and spans the 32-kilometer length of the Stillwater West project. Expansion drilling in 2023 confirmed Platreef-style mineralization in the first ever drill tests of an EM geophysical anomaly within the peridotite zone that forms part of a string of anomalies extending over 12 kilometers along strike associated with sulphide-bearing hornfels and banded iron formation proximal to the Stillwater Igneous Complex footwall contact. As reported May 23, 2024, these drill results contain significant evidence of assimilation textures and high sulphide contents reminiscent of incorporation of crustal sulphur into the magma from the footwall sediments.

Additional drilling is planned to further expand this discovery in addition to continued expansion of mineral resources within the peridotite zone. N-Series Structures - N-series mineralization consists of north-south trending structures that crosscut the broadly layered nature of the Stillwater Igneous Complex. As announced on December 5, 2023, the N structures contain high-grade nickel sulphide mineralization that was first discovered by the Company in drill holes CM2020-04 and CM2021-05.

First reported on March 3, 2021 and later re-interpreted, hole CM2020-04 returned 8.5 meters of 1.11% Ni, 1.10 g/t 4E, 0.19% Cu, and 0.053% Co for 1.50% NiEq. Hole CM2021-05, first reported May 3, 2022, returned 13.2 meters of 2.31% Ni, 1.51 g/t 4E, 0.35% Cu, and 0.115% Co, for 2.85% NiEq. These structures represent an important addition to the Stillwater West project as they appear to upgrade the broader Platreef-style mineralized zones where they crosscut.

Modeling has now identified eight N-series structures in the Chrome Mountain area and confirmed the existence of similar N-structures more broadly across Stillwater West. A high-resolution ground magnetic survey early in the 2023 field season enabled a more detailed geologic model, leading directly to the intersection of the N1 and N2 structures in holes CM2023-01 to 05. Drilling in 2023 successfully intersected the N1 and N2 structures, which are thought to be related to distinctly sulphur-rich mineralization closely associated with the cross-cutting N-series structures identified during 2022.

The N-structures exhibit enhanced hydrothermal alteration associated with intrusive gabbroic dykes containing elevated Ni+Cu+PGE+Au grades and tenors that were encountered in holes CM2023-01 to 05. The N1 structure in CM2023-01 contains a high-grade interval of 3.2 meters of 0.75% Ni, 0.27% Cu, 0.037% Co, and 0.33 g/t Pd+Pt+Au starting at 60.66 meters. The N2 structure in this hole contains 0.48% Ni+Cu+Co and 0.13 g/t 3E and over 6.0 meters starting at 212.4 meters.

In hole CM 2023-02, the N1 structure contains a high-grade interval of 0.4 meters at 1.07% Ni, 0.49% Cu, 0.056% Co, and 1.11 g/t 3E at 71.63m down hole and a second lower interval of 1.2 meters at 0.255% Ni, 0.022% Cu, 0.017% Co, and 4.31 g/t 3E at 93.88m. The N2 structure contains 13.87 meters at 0.28% Ni, 0.09% Cu, 0.034% Co starting at 184.56m in this hole.