Mr. Michael Rowley reports

STILLWATER CRITICAL MINERALS ANNOUNCES GRANT OF LONG-TERM PERFORMANCE INCENTIVES AND RESTRICTED SHARE UNITS

Subject to the approval of the TSX Venture Exchange, Stillwater Critical Minerals Corp. has granted 2.94 million stock options and restricted share units (each, an RSU) to certain directors and officers of the company in accordance with the company's long-term performance incentive plan (LTIP).

Each option and RSU is exercisable into one common share in the capital of the company at a price of 16 cents per share, based on the five-day moving average volume weighted price of the shares on the TSX-V on April 17, 2025.

The options will vest over a period of five years from the date of grant and the RSUs will vest on the one-year anniversary of the grant. All vesting is in accordance with the shareholder approved LTIP.

Upcoming events

Stillwater's president and chief executive officer, Michael Rowley, will be available at the following events in 2025, in addition to other events to be added as the company rolls out its marketing plans over the coming year:

• Global Commodity Expo Florida -- Fort Lauderdale, Fla., United States, May 11 to May 13, 2025;
• Global Commodity Expo Atlanta -- Atlanta, Ga., United States, May 14 to May 16, 2025;
• The Mining Investment Event of the North -- Quebec City, Que., Canada, June 3 to June 5, 2025;
• Precious Metals Summit -- Beaver Creek, Colorado, Sept. 9 to Sept. 12, 2025;
• Precious Metals Summit -- Zurich, Switzerland, Nov. 10 to Nov. 11, 2025.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co (nickel-platinum group element-copper-cobalt) plus Au (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 PLC, 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 neighboring 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 United States.

Stillwater also holds a 49-per-cent interest in the high-grade Drayton-Black Lake gold project adjacent to Nexgold Mining's development-stage Goliath gold complex in Northwest 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 Territory. The company also holds the Duke Island Cu-Ni-PGE property in Alaska and maintains a back-in right on the high-grade past-producing Yankee-Dundee in British Columbia, following its sale in 2013.

We seek Safe Harbor.