Stillwater West Drilling Wide and High-Grade Nickel, Platinum, And Palladium Mineralization

VANCOUVER - Stillwater Critical Minerals Corp. reported on the resource expansion drilling completed at the Stillwater West Ni-PGE-Cu-Co + Au project in Montana. The campaign was funded by a June 2023 strategic equity investment by Glencore Canada Corporation, a wholly owned subsidiary of Glencore plc. 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. In May, 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.

Six holes totaling 2,310 meters were completed with a focus on expanding deposits at the west end of the current nine-kilometer-long Stillwater West resource area. Holes CM2023-01, -02 and -03, reported here, targeted and successfully intercepted magmatic nickel and copper sulphide mineralization with significant platinum group element (PGE) in several styles of mineralization, furthering known parallels with the Bushveld Igneous Complex, in particular the Northern Limb, or Platreef. Drilling also successfully intercepted N-series mineralization in structures that are not known in the Bushveld Igneous Complex but have now been modeled in a series of eight north-south trending structures at Stillwater West. 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 and later re-interpreted.

Multiple high-grade base and precious metals intervals were returned including multigram PGE intercepts ranging up to 3.96 g/t Pt and 2.84 g/t Pd over 1.16 meters ("m") starting at 308.8m in CM2023-03, in addition to wider intervals such as 44.2m at 0.83 g/t 3E (Pd+Pt+Au) starting at 252.7m in CM2023-01. Results demonstrate significant potential to expand the 2023 Mineral Resource Estimate ("MRE") at three cut-off grades, with wide widths of higher-grade mineralization at >0.70% recovered Nickel Equivalent ("NiEq") cut-off grade contained within thick mid-grade intervals at >0.35% NiEq cut-off that are in turn set within long lengths of potential bulk tonnage mineralization at >0.20% NiEq cut-off grade, including: CM2023-01: Bulk tonnage: 347.3 meters @ 0.20% NiEq (0 to 347.3m); Mid-grade: 44.2 meters @ 0.43% NiEq (252.7 to 296.9m); High-grade: 3.2 meters @ 0.95% NiEq (60.7 to 63.9m).

CM2023-02: Bulk tonnage: 214.9 meters @ 0.20% NiEq (28.4 to 243.2m); Mid-grade: 13.9 meters @ 0.39% NiEq (184.6 to 198.4m); High-grade: 0.43 meters @ 1.61% NiEq (71.6 to 72.1m). CM2023-03: Bulk tonnage: 386.8 meters @ 0.20% NiEq (0 to 386.8m); Mid-grade: 11.0 meters @ 0.44% NiEq (182.3 to 193.2m) and 14.6 meters @ 0.44% NiEq (295.4 to 310.0 m); High-grade: 3.66 meters @ 0.78% NiEq (189.6 to 193.2m) and 3.05 meters @ 0.78% NiEq (240.49 to 243.54m).

Results continue to drive the first ever detailed geological model completed across the lower Stillwater Igneous Complex, with these results further demonstrating three mineralization styles in particular: 1) broad Platreef-style Ni-PGE-Cu-Co mineralization; 2) nickel sulphide-rich N-series mineralization; and 3) stratiform reef-type PGE-Ni-Cu chromitite mineralization. All deposits and mineralization remain open for expansion in planned follow-up drilling. The Company is also looking at the ferrochrome potential of the Stillwater West project, driven by the 2.3-billion-pound chromium resource defined by the January 2023 MRE and historic production of chromium from the Stillwater district. Rhodium assay results are pending.

President and CEO, Michael Rowley, said, "We are very pleased with the expansion of known mineralization that was returned by our 2023 drill campaign and the potential we continue to see in several possible mining scenarios at Stillwater West. Our drill campaigns have successfully leveraged a substantial historic database to arrive at a total of approximately 40,000 meters of drilling in 236 holes to date. That wealth of data, combined with Glencore's backing and in-house expertise from similar geology in South Africa's Bushveld Igneous Complex, has positioned us exceptionally well with the largest nickel resource in an active American mining district at a time when the US is looking to onshore supply chains of nine of the commodities we have inventoried. We look forward to further announcements with a focus on continued expansion at Stillwater West while also turning our attention to various studies relating to potential production scenarios, as well as updates on other initiatives including non-core assets."