Mr. Michael Rowley reports

STILLWATER CRITICAL MINERALS ANNOUNCES 54% UPSIZE OF PRIVATE PLACEMENT TO $3.85 MILLION WITH $2.1 MILLION LEAD ORDER FROM GLENCORE

Due to strong investor demand, Stillwater Critical Minerals Corp.'s non-brokered private placement announced March 28, 2024, has been increased to 27.5 million units for gross proceeds of $3.85-million from the previously announced 17,857,143 units for gross proceeds of $2.5-million.

All other terms of the offering remain unchanged. Glencore Canada Corp., a wholly owned subsidiary of Glencore PLC, has agreed to purchase 15 million units of Stillwater pursuant to the placement, for gross proceeds of $2.1-million.

The offering is expected to close on or about April 26, 2024, and is subject to customary conditions, including acceptance by the TSX Venture Exchange. All securities issued pursuant to the offering will be subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.

The company confirms that certain insiders of the company will subscribe for units in the offering. The issuances of units to insiders will be considered related party transactions within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority approval requirements in MI 61-101 in respect of any such insider participation, as neither the fair market value of the securities to be issued, nor the fair market value of the consideration for the securities to be issued, insofar as it involves such insiders, will exceed 25 per cent of the company's market capitalization as calculated in accordance with MI 61-101.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals is a mineral exploration company focused on its flagship Stillwater West nickel-platinum-group-element-copper-cobalt plus gold project in the iconic and famously productive Stillwater mining district in Montana, United States. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore, the company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper and chromium, and the continuing production of platinum group, nickel and other metals by neighbouring Sibanye-Stillwater. An expanded National Instrument 43-101 mineral resource estimate, released January, 2023, positions Stillwater West with the largest nickel resource in an active U.S. mining district as part of a compelling suite of nine minerals now listed as critical in the U.S. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium and gold at Stillwater West, and all deposits remain open for expansion along trend and at depth. Results are pending from resource expansion drilling completed in the fall of 2023.

Stillwater also holds the high-grade Black Lake-Drayton gold project adjacent to Treasury Metals' development-stage Goliath gold complex in Northwestern Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon.

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