Michael Rowley, President & CEO, of Stillwater Critical Minerals (TSX.V: PGE – OTCQB: PGEZF), joins us to review the news out today announcing the completion of the 2025 exploration program, that the Company has engaged Mine Technical Services (“MTS”) to complete an updated NI 43-101-compliant Mineral Resource Estimate (“MRE”) for the Company’s 100%-owned Stillwater West critical minerals project in Montana, USA.  Stillwater West hosts nickel, copper, cobalt, chromium, platinum, palladium, rhodium, ruthenium, iridium, gold, and osmium – a unique mix of battery, alloy, and platinum group metals essential to clean energy, defense, and technology supply chains.

Mike explains that this new geological model and understanding of the Stillwater West Project through the lens of the South African Bushveld Complex as a parallel is so crucial to unlocking the value proposition of the Project and for future exploration targeting.  It is also quite constructive have  Dr. Danie Grobler, Vice President of Exploration, Albie Brits, Senior Geologist, provide different layers of input and collaboration with Tim Kuhl and the MTS team on the updated Stillwater resource estimate. Their extensive experience in Platreef-type geology and resource estimation is expected to provide significant value to the Project.

Highlights and upcoming catalysts:

• The 2025 drill campaign is now complete, totaling 3,471m in eight holes, with all assays pending.
• The updated MRE will incorporate 14 drill holes totaling 5,781 meters (“m”) from the 2023 and 2025 programs, plus select historic holes not included in the current estimate.
• The updated Mineral Resource Estimate is expected in H1 2026 and will mark the next step in advancing Stillwater West as a potential large-scale source of ten minerals listed as critical in the U.S.
• The update will build on the January 25, 2023, Inferred Mineral Resource and results will support further technical studies and economic assessments.
• MTS has completed a site visit and is updating deposit models to incorporate new data, improved geologic domaining, geostatistics, and structural controls – leveraging insights from the Platreef district in South Africa.
• The work is being led by Mr. Timothy Kuhl (MTS) and Dr. Danie Grobler (Stillwater) who together previously worked with the late Dr. Harry Parker on the resource estimation and technical reports for Ivanhoe Mines’ Platreef Mine.

We go on to discuss with Mike the challenges and opportunities in defining the large-scale polymetallic and critical mineral resources at Stillwater West; and why it has the attention of large major producers, like their strategic partner Glencore, along with attention from the US and Montana government. We discuss how the nickel, copper, and cobalt tie into the growing industry demands for battery metals, energy metals, and defense metals. Additionally, with platinum, palladium, rhodium, and gold all demonstrating strong recent market performance, Stillwater West offers significant leverage to these precious metals.

If you have any questions for Mike or the team at Stillwater Critical Minerals, then please email them into us at Fleck@kereport.com or Shad@kereport.com.

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