Mr. Michael Rowley reports

STILLWATER CRITICAL MINERALS PROVIDES CORPORATE UPDATE

Stillwater Critical Minerals Corp. is not aware of any undisclosed material change or company-specific development that would account for the recent decline in the company's share price.

The company further notes that recent share-price movements have occurred in the context of broader market volatility and weakness affecting equities across multiple sectors, including the mining and metals sector.

Stillwater continues to advance key initiatives to build long-term value, including:

• All assay results from the company's recent drill program at its flagship Stillwater West project in Montana are pending. The company looks forward to releasing results as they become available in the near term.
• The company has engaged Mine Technical Services to incorporate 14 drill holes from the past two drill campaigns, plus a select number of historic drill holes into an updated mineral resource estimate, as announced Oct. 27, 2025.
• Stillwater maintains positive engagement with all levels of government, as previously disclosed and highlighted in corporate materials.
• Technical and strategic programs are under way to further define and expand critical mineral resources within the Stillwater igneous complex and the company continues to engage with potential partners and stakeholders to support future development.

Stillwater remains well positioned to benefit from continued U.S. policy momentum and growing demand for domestic sources of nickel, copper, cobalt, chromium and platinum group elements -- metals essential to energy, the economy and national security.

Coming events

Michael Rowley, president and chief executive officer of Stillwater, is scheduled to attend the following events. Additional events will be announced as confirmed:

1. Precious Metals Summit -- Zurich, Switzerland, Nov. 10 to 11, 2025;
2. AEMA's (American Exploration & Mining Association) annual meeting -- Sparks, Nev., Dec. 7 to 12, 2025;
3. VRIC (Vancouver Resource Investment Conference) 2026 -- Vancouver, Canada, Jan. 25 to 26, 2026;
4. AMEBC (Association for Mineral Exploration -- British Columbia) Round Up -- Vancouver, Canada, Jan. 26 to 29, 2026;
5. PDAC (Prospectors & Developers Association of Canada) 2026 -- Toronto, Canada, March 1 to 4, 2026;
6. Swiss Mining Institute Conference -- Zurich, Switzerland, March 18 to 19, 2026.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals is a mineral exploration and development company focused on its flagship Stillwater West nickel/platinum group element/copper/cobalt-plus-gold project in the 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 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 eight 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 Canada's Yukon. 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 project in British Columbia, following its sale in 2013.

We seek Safe Harbor.