Mr. Michael Rowley reports

STILLWATER CRITICAL MINERALS MOBILIZES DRILL RIGS TO STILLWATER WEST CRITICAL MINERALS PROJECT IN MONTANA, USA

Stillwater Critical Minerals Corp. has retained Energold Drilling to commence work at its flagship Stillwater West nickel/platinum group element/copper/cobalt-plus-gold project in Montana, United States, and is currently mobilizing rigs to site. The 2025 program will focus on the expansion of drill-defined mid-to-high-grade polymetallic sulphide mineralization in the most advanced project areas while also testing adjacent priority targets identified in the updated geologic model announced by the company on March 26, 2025.

The coming drill campaign follows the successful completion of the property-wide MobileMT magnetotelluric geophysical survey in 2024, which identified multiple multikilometre-scale conductive highs and resistivity lows coincident with known mineralization and mineralized horizons. Results have provided a transformative view of the mineralized system across the lower Stillwater igneous complex and doubled the extent of Stillwater's 3-D geological model from 9.5 kilometres to over 20 kilometres.

The 2025 drill program is being advanced in collaboration with Glencore PLC through the Stillwater West technical committee, alongside technical partner ALS Goldspot leveraging artificial intelligence and machine learning to refine targeting across the property.

"The 2024 geophysical survey has transformed our understanding of the Stillwater West project," commented Dr. Danie Grobler, vice-president, exploration. "The identification of multiple large-scale conductive targets in and around known mineralization provides us with a robust pipeline of high-quality drill targets for expansion of our current resources. The 2025 campaign represents a significant step forward as we continue to unlock the full potential of what we believe is one of America's most important critical mineral districts."

Michael Rowley, president and chief executive officer of Stillwater, added: "We are excited to ramp up to our 2025 field season as we look to apply our updated geologic model to the expansion of critical minerals supply from an iconic American mining district. The company is well positioned to bring the robust economics of the large, polymetallic sulphide mines of the Platreef district in South Africa's Bushveld igneous complex to the parallel geological setting of the Stillwater igneous complex in the United States. We look forward to providing updates on our 2025 campaign and government initiatives in the near term, in addition to updates from our non-core assets."

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals is a resource-stage 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/platinum group element resource in an active U.S. mining district as part of a compelling suite of 10 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 Northwestern Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane platinum group element/nickel/copper/cobalt critical minerals project on trend with Nickel Creek Platinum's Wellgreen deposit in Yukon, Canada. The company also holds the Duke Island copper/nickel/platinum group element property in Alaska and maintains a back-in right on the high-grade, past-producing Yankee-Dundee property in British Columbia.

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