Increase In Mineral Resource Estimate For Stillwater West Project

VANCOUVER - Stillwater Critical Minerals reported a 62% increase in the updated independent National Instrument 43-101 (NI 43-101) mineral resource estimate for its Stillwater West platinum group element, nickel, copper, cobalt, and gold (PGE-Ni-Cu-Co + Au) project in Montana. The study showed significant increases in tonnage and contained metal at both a bulk tonnage 0.20% nickel equivalent (NiEq) cut-off (Base Case) and a 0.35% NiEq higher grade bulk tonnage cut-off. A high-grade, selective mining component at a 0.70% NiEq cut-off is presented for the first time.

Michael Rowley, President and CEO, said, “We are very pleased with the expanded 2023 resource, which returned substantial increases in tonnage and contained metals while also increasing the high-grade component. Overall, these increases speak to the fantastic growth potential and under-explored nature of the Stillwater West project, and to our ability to rapidly increase resources in these wide-open deposits with targeted expansion drilling at low discovery costs. Our Stillwater West project, with its world-class endowment of eight critical minerals, is unique in the United States as a district-scale asset located in an active, producing district that has a long history of large-scale critical mineral production. The US government has recognized the importance of critical minerals to both economic and national security interests and is taking increasing action to secure domestic supply of these key metals at a time when we are advancing Stillwater West and demonstrating its potential. Our exceptional team, with multi-decades of experience at both Stillwater and in the parallel layered geology of the Bushveld Igneous Complex, is well-positioned to advance the asset. We look forward to continuing to build on our success and low discovery costs as we finalize our follow up expansion programs for 2023."