Mr. Roy Bonnell reports

ALLIED CRITICAL METALS EXPANDS SANTA HELENA BRECCIA WITH 6.0 METRES OF 1.02% WO3 INTERCEPT AT BORRALHA

Allied Critical Metals Inc. has released new assay results from the continuing 2025 reverse circulation drilling campaign.

The results from holes Bo-RC-27/25 and Bo-RC-28/25 confirm strong mineralization continuity in the northwestern dip area of the Santa Helena breccia, extending the recently discovered high-grade North dip backbone toward the north and west and reinforcing previous mineral resource estimate indications.

Borralha is delivering stronger, wider and higher-grade intercepts than expected, positioning Allied to unlock significant resource growth and advance one of the most strategic tungsten projects in the Western world. The tungsten price reaches a high of $685 (U.S.) per metric thermal unit APT, up approximately 50 per cent in the past six months as demand for the critical mineral increases with further supply chain restrictions from non-Western countries.

Highlights

Bo-RC-27/25:

• 46.0 metres (33.1-metre total width) of 0.22 per cent tungsten oxide from 204.0 m, including:
• 22.0 m (15.8-metre TW) of 0.35 per cent WO3 from 228.0 m; and
• 6.0 m (4.3-metre TW) of 1.02 per cent WO3 from 228.0 m:
  • Robust mineralized intercept expanding the northwestern dip area of the SHB.

Bo-RC-28/25:

• 8.0 m (5.4-metre TW) of 0.68 per cent WO3 from 90.0 m, including:
• 2.0 m (1.4-metre TW) of 0.94 per cent WO3 from 96.0 m;
• Additional 4.0 m (2.7-metre TW) of 0.42 per cent WO3 from 210.0 m:
  • Confirms high-grade lenses within the upper SHB flank, consistent with geometry predicted in the 2024 model.

Roy Bonnell, chief executive officer and director of Allied Critical, commented: "Borralha continues to exceed expectations. We are now consistently intersecting thicker and higher-grade zones than previously modelled. Hole Bo-RC-27/25 delivered one of the most continuous and grade-consistent intercepts drilled to date within the northwestern extension of the Santa Helena breccia, validating our interpretation of a broad, steeply dipping feeder system. In addition, Bo-RC-28/25 confirmed the updip continuity of high-grade mineralization toward surface, an encouraging indicator for potential shallow extraction scenarios. Together with earlier successes, these results continue to demonstrate both excellent scale and grade expansion as we advance toward our updated mineral resource estimate and preliminary economic assessment."

Geological context

Drill hole Bo-RC-27/25 intersected a thick zone of disseminated wolframite mineralization along the northwestern structural dip of the SHB, corresponding to a domain where the 2024 MRE had identified only moderate-grade envelopes.

This intercept -- including six m of 1.02 per cent WO3 -- demonstrates significant grade enhancement and continuity within the newly modeled corridor, supporting the revised interpretation of a wider, steeper feeder system.

Hole Bo-RC-28/25, collared 50 m northeast of Bo-RC-26/25, tested the continuity of mineralization updip toward surface, intersecting multiple high-grade lenses associated with breccia-hosted wolframite.

Together, the two holes confirm northward and updip expansion potential, bridging the 2023-2024 drilling domains.

These results will directly feed into the coming mineral resource estimate update and preliminary economic assessment scheduled for first quarter 2026, aiming to delineate additional tonnage and improve confidence in high-grade zones.

Drill program progress

To date, 4,210 metres of drilling have been completed from the initially planned 5,625-metre phase 1 campaign as the desired results were achieved with more strategically focused drilling. The program focus was:

• Expanding and upgrading the current National Instrument 43-101 mineral resource estimate, expected in fourth quarter 2025;
• The development of a robust preliminary economic assessment;
• Supporting underground mine design and integration with continuing environmental impact assessment review.

Further and final assay results are expected in the coming weeks as drilling has completed and the last assays of the drill campaign are being analyzed.

Next steps

When the phase 1 drilling campaign is finished, final results are expected in the coming weeks. Stepout holes targeted both western and northern extensions of SHB while infill drilling will refine the core resource model. Results will continue to inform the MRE and subsequent economic studies.

Sampling, quality assurance/quality control and analytical notes

Drilling was completed using reverse circulation. All sample bags were prelabelled with a unique internal sequence number used consistently for the assay sample and corresponding reject. Sampling was conducted on 2.0-metre intervals for analytics. For each 2.0-metre interval, two 1.0-metre reject samples were also collected as representative splits. Splitting was performed at the rig through a rotary splitter integral to the RC cyclone.

Sampling followed preprepared sample lists that recorded downhole metreage, sequence and the placement of certified reference materials and field duplicates. CRMs were inserted at a rate of one in 20 samples (5 per cent) and field duplicates at one in 20 samples (5 per cent), arranged so that every 10th sample alternated between a CRM and a duplicate.

Analytical and reject samples were boxed at the drill site and transported by company personnel to the project core/logging facility. Analytical samples were stored on labelled pallets pending direct shipment to ALS's preparation laboratory in Seville, Spain. Pulps and rejects were subsequently stored securely in the project logging room.

At ALS Seville, samples were crushed to 70 per cent passing two millimetres, riffle-split to approximately 250 grams and pulverized using hardened steel to 85 per cent passing 75 micrometres. Pulps were shipped to ALS Loughrea (Ireland) for analysis. The primary analytical method was ME-MS81 (lithium borate fusion with ICP-MS finish). Base metals were also reported using ME-4ACD81 (four-acid digestion with ICP-MS finish). Overlimit tungsten results were reassayed using W-XRF15b (lithium borate fusion with XRF). Analytical results were delivered directly by ALS to the company through secure electronic transfer.

Primary disclosure remains the reported grade and interval length (and true width where known).

To the best of the company's knowledge, no drilling, sampling, recovery or other factors have been identified that would materially affect the accuracy or reliability of the data referenced herein.

Qualified person

The scientific and technical information in this release has been reviewed and approved by Vitor Arezes, BSc, MIMMM (QMR), vice-president, exploration, of Allied Critical Metals, a qualified person under National Instrument 43-101. Mr. Arezes is not independent of Allied Critical Metals as he is an officer of the company.

About the Borralha tungsten project

Allied's Borralha tungsten project is one of the largest and most historically significant past-producing tungsten operations in Western Europe. Located in northern Portugal, Borralha was once the second-largest tungsten mine in the country and supplied strategic materials to European and Allied industries during the 20th century, including both World Wars and the Cold War period.

Today, the project is undergoing a modern revitalization based on a combination of scale, grade, metallurgy and jurisdictional strength. Mineralization is dominated by coarse-grained wolframite, which is highly desirable in global markets due to its favourable processing characteristics and higher recoveries compared with scheelite-bearing deposits.

Borralha benefits from existing infrastructure, shallow mineralization and a simple processing route, making it one of the most advanced tungsten development projects in the European Union. These attributes are particularly important in the context of the European Union Critical Raw Materials Act (2024/1252) and North Atlantic Treaty Organization strategic autonomy initiatives, both of which explicitly identify tungsten as a defence-critical raw material subject to severe supply risk.

With the EU currently dependent on over 80 per cent of its tungsten imports from China, Borralha represents a rare and strategic opportunity to develop a secure, domestic and NATO-aligned supply source. As Allied continues to advance drilling, resource expansion and economic studies, Borralha is poised to play a central role in reshaping Europe's tungsten landscape -- supporting both decarbonization technologies and defence industrial resilience.

About Allied Critical Metals Inc.

Allied Critical is a Canadian-based mining company focused on the expansion and revitalization of its 100-per-cent-owned past-producing Borralha tungsten project and the Vila Verde tungsten project in northern Portugal. Tungsten has been designated a critical metal by the United States and other Western countries as they are aggressively seeking friendly sources of this unique metal. Currently, China and Russia represent approximately 90 per cent of the total global supply and reserves. The tungsten market is estimated to be valued at approximately $5-billion (U.S.) to $6-billion (U.S.), and tungsten is used in a variety of industries such as defence, automotive, manufacturing, electronics and energy.

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