Stillwater Critical Minerals

The Future of Critical Minerals Supply

One of the largest nickel and cobalt resources in the United States
A rich history of critical mineral production

• Large, 100%-owned brownfields project in Montana’s Stillwater District, an iconic and expanding American mining district with a long history of high-grade critical minerals production
• 2023 mineral resource estimate update expanded the inaugural resource by 62% and defined 1.6Blbs of nickel, copper, and cobalt and 3.8Moz of palladium, platinum, rhodium, and gold (“4E”) in a constrained model totaling 255Mt at an average grade of 0.39% total estimated recovered NiEq (or 1.19g/t Palladium Equivalent “PdEq”)
• The selective mining high-grade component yielded 11.6Mt at 1.05% Total NiEq (or 3.24 g/t Total PdEq) as 0.56% Ni, 0.33% Cu, 0.03% Co with 0.54g/t Pd, 0.27g/t Pt, 0.15g/t Au and 0.019g/t Rh. Expansion of this high-grade component results from the addition of high-grade mineralization encountered in the 2021 drill campaign
• The 2023 Resource is contained within five deposits in the 9km central area of the project, all of which are open along strike and at depth. Multi-kilometer scale geophysical targets and metal-in-soil anomalies indicate excellent expansion potential across much of the 32km-long Stillwater West project
• Technical team led by Dr. Danie Grobler and Albie Brits, formerly with Ivanhoe Mines’ Platreef project in South Africa
• Stillwater Critical Minerals has partnered with Cornell University to focus on novel hydrometallurgical and carbon capture techniques
• Existing road access and power infrastructure with three operating mines