Energy Fuels' Pinyon Plain Uranium Mine Continues to Outperform

Energy Fuels' Pinyon Plain Uranium Mine Continues to Outperform

The Company mined 638,700 pounds of uranium from its Pinyon Plain mine in Arizona during the 2 nd quarter of 2025, cementing its place as one of the top new uranium mines in the world.

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") a leading U.S. producer of uranium, rare earth elements (" REEs "), and other critical minerals, is pleased to announce that its Pinyon Plain uranium mine in Arizona continues to significantly exceed previous production estimates. During June 2025 the Company mined 230,661 pounds of U 3 O 8 from the Pinyon Plain mine, resulting in 638,700 total pounds of U 3 O 8 mined in Q2-2025. These elevated mining rates are mainly driven by the high uranium grades at Pinyon Plain which averaged 3.51% U 3 O 8 during the month of June 2025 and 2.23% U 3 O 8 during the second quarter.

Mark S. Chalmers , President and CEO of Energy Fuels stated: "Pinyon Plain is proving to be a truly exceptional U.S. uranium mine. In my nearly 50-year history in the uranium industry, I have not seen any other U.S. mine like Pinyon Plain. Production and drill results to date indicate that it will be the highest-grade uranium deposit to be mined in the U.S. over the past 30 years, and I believe it is likely to be one of the highest-grade uranium deposits mined in U.S. history. We also believe that increased uranium production is very likely to result in lower unit production costs, which would positively impact our bottom line. In addition, there remains significant additional exploration potential, as the Company is only currently mining approximately 25% of the vertical extent of the prospective ore zone, and recent exceptional drill results in the Juniper zone highlight the potential for additional discovery."

The Company further notes that during Q2-2025, Energy Fuels sold 50,000 pounds of U 3 O 8 on the spot market for an average price of $77.00 per pound. In addition, due to exceptional production from the Company's uranium mines and White Mesa Mill (the only producing conventional uranium mill in the U.S.), the Company expects to complete increasing levels of uranium sales over the next few quarters, including 140,000 pounds of U 3 O 8 in Q3 and 160,000 pounds of U 3 O 8 in Q4 under its existing portfolio of long-term utility contracts. In 2026, the Company expects to sell between 620,000 and 880,000 pounds of U 3 O 8 under its existing long-term contracts.

The Company also expects to continue to make opportunistic sales of U 3 O 8 in 2025 and 2026 and to potentially enter into new long-term sales contracts for its increased U 3 O 8 production.

Qualified Person Statement
The scientific and technical information disclosed in this news release was reviewed and approved by Daniel D. Kapostasy, PG, Registered Member SME and Vice President, Technical Services for the Company, who is a "Qualified Person" as defined in S-K 1300 and National Instrument 43-101.

ABOUT Energy Fuels
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, heavy mineral sands (" HMS "), vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy, and owns and operates several conventional and in-situ recovery uranium projects in the western United States . The Company also owns the White Mesa Mill in Utah , which is the only fully licensed and operating conventional uranium processing facility in the United States . At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is evaluating the recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the Kwale HMS project in Kenya which ceased mining and commenced final reclamation activities at the end of 2024, and is developing three (3) additional HMS projects: the Toliara Project in Madagascar ; the Bahia Project in Brazil ; and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado , near Denver . The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." For more information on all we do, please visit w ww.energyfuels.com .

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based critical minerals company or as the leading producer of uranium in the U.S.; any expectation as to the grade and quantity of ore mined to date or to be mined in the future at the Pinyon Plain mine; any expectation that the Pinyon Plain mine is one of the highest-grade uranium deposit to be mined in the U.S. over the past 30 years or in U.S. history; any expectation that increased uranium production may result in lower unit production costs, which could positively impact the Company's bottom line; any expectation as to future additional exploration potential or the potential for additional discoveries at the mine; any expectation that the Company may successfully complete increasing levels of U 3 O 8 spot and contract sales over the next few quarters; any expectation that the Company's evaluation of the recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments will be successful or commercially feasible; and any expectation that the Company's development projects, including the Toliara Project, Donald Project and Bahia Project will be successfully developed and placed into commercial production. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; the imposition of tariffs and other restrictions on trade; legal challenges; the availability of feed sources for the Mill; competition from other producers; public opinion; government and political actions; market factors; actual results differing from estimates and projections; the ability of the Mill to recover radium or other radioisotopes at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar , on SEDAR+ at www.sedarplus.ca , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/energy-fuels-pinyon-plain-uranium-mine-continues-to-outperform-302495243.html

SOURCE Energy Fuels Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/01/c0154.html

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America’s Leading Producer of Critical Materials for the Clean Energy Transition

Precious Metals & Critical Minerals Hybrid Investor Conference: Presentations Now Available for Online Viewing

Precious Metals & Critical Minerals Hybrid Investor Conference: Presentations Now Available for Online Viewing

Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from Precious Metals & Critical Minerals Hybrid Virtual Investor Conference held May 22 nd are now available for online viewing.

VIEW PRESENTATIONS HERE

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Precious Metals & Critical Minerals Hybrid Investor Conference Agenda Announced for May 22nd

Precious Metals & Critical Minerals Hybrid Investor Conference Agenda Announced for May 22nd

Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the Precious Metals & Critical Minerals Hybrid Virtual Investor Conference. Individual investors, institutional investors, advisors, and analysts are invited to attend.

This in-person and virtual event will showcase live company presentations and interactive discussions featuring Precious Metals and Critical Minerals including Gold, Silver, Antimony, Copper, Lithium, Nickel, PGM, Rare Earth Elements, Uranium and Vanadium.   Company executives and industry experts will present live from the OTC Markets Group headquarters at 300 Vesey Street in New York City. All presentations will be broadcast to the Virtual Investor Conferences community. For those who are interested in attending, there are two ways to register:

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Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. Announces Ore Purchase Agreement

Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).

Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company's flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.

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Energy Fuels

Energy Fuels and Madagascar Government Execute Memorandum of Understanding to Further Advance Toliara Critical Mineral Project in Madagascar

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company"), a leading U.S. producer of uranium, rare earth elements ("REE"), and critical minerals, is pleased to announce that it has entered into a Memorandum of Understanding (the "MOU") with the Government of Madagascar (the "Government") setting forth certain key terms applicable to the Company's Toliara titanium, zirconium, and REE project (the "Toliara Project" or "Project"), located in southwestern Madagascar.

As previously announced, on November 28, 2024, the Madagascar Council of Ministers, as Chaired by the President of Madagascar, lifted the suspension on the Toliara Project, which was originally imposed in November 2019. The lifting of the Suspension allows the Company to continue development of the Project, re-establish community programs, and advance activities necessary to achieve a positive final investment decision ("FID").

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Energy Fuels and Madagascar Government Execute Memorandum of Understanding to Further Advance Toliara Critical Mineral Project in Madagascar

Energy Fuels and Madagascar Government Execute Memorandum of Understanding to Further Advance Toliara Critical Mineral Project in Madagascar

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), a leading U.S. producer of uranium, rare earth elements (" REE "), and critical minerals, is pleased to announce that it has entered into a Memorandum of Understanding (the " MOU ") with the Government of Madagascar (the " Government ") setting forth certain key terms applicable to the Company's Toliara titanium, zirconium, and REE project (the " Toliara Project " or " Project "), located in southwestern Madagascar .

As previously announced , on November 28, 2024 , the Madagascar Council of Ministers, as Chaired by the President of Madagascar , lifted the suspension on the Toliara Project, which was originally imposed in November 2019 . The lifting of the Suspension allows the Company to continue development of the Project, re-establish community programs, and advance activities necessary to achieve a positive final investment decision (" FID ").

The MOU announced today is the culmination of extensive negotiations over several years with the Malagasy Government on fiscal and other terms applicable to the Toliara Project and a major step forward in advancing the Project. While the Company is progressing towards an FID, which is expected to be made in approximately 14 months, the Company will continue working with the Government of Madagascar to formalize the terms and conditions set out in the MOU through the implementation of a " Stability Mechanism " consisting of one or a combination of the following: (a) submittal of an Investment Agreement to the Madagascar Parliament for approval as law and certification of the Toliara Project (" Project Certification ") under existing law establishing a special regime for large scale investments in the Malagasy mining sector (the " LGIM "); (b) promulgation of amendments and revisions to the existing LGIM (the " LGIM Amendment ") in a form that provides for the necessary certainty of financial and legal terms, and reasonable financial, operational and legal requirements, for large-scale projects and have Project Certification under the amended LGIM, together with an Investment Agreement (if reasonably required) submitted to Parliament for approval as law; and/or (c) another agreed upon mechanism that achieves the necessary certainty of financial and legal terms, and reasonable financial, operational and legal requirements, applying to large-scale mining projects.

Mark S. Chalmers , President and CEO of Energy Fuels commented: "As I've said before, I believe the Toliara Project is a 'generational' critical mineral project that has the strong potential to operate well beyond many of our lifetimes. Therefore, it is vital to Energy Fuels, and to our Base Resources subsidiaries, that the Republic of Madagascar and the communities in the vicinity of the Project enjoy significant benefits that go beyond jobs, economic development, and sustainable operations that respect human rights, local culture, and the environment. To achieve this vision, the MOU signed today creates the framework for a long-term mutually beneficial partnership between a U.S. critical mineral company and the people of Madagascar . We look forward to continuing to work with the Government of Madagascar to formalize the terms of the MOU and grow our relationship with what we believe will be the largest U.S. investment in the country's history."

Key Terms and Conditions of the MOU

Under the MOU, the Company has agreed to pay a five percent (5%) royalty (and no other) on mining products and deliver US$80 million after Project Certification in development, community, and social project funding, including a total of $30 million within 30 days after Project Certification, another $10 million within 30 days after achieving a positive FID and an additional $40 million by the fourth year of operations. In addition, the Company has agreed to spend at least $1 million prior to FID in the Atsimo Andrefana Region on community and social investments, and $4 million annually thereafter, indexed at 2% per annum, from commencement of construction after a positive FID. The Company has also committed to developing the Toliara Project in an environmentally, socially and fiscally responsible manner, and to observe the specific protections set out in the MOU.

The payments described above are not expected to have a material effect on the economics of this potentially multi-billion project, which (along with the appropriate disclaimers related to technical disclosure) are described in the Company's April 2024 press release . The Company is in the process of updating the September 2021 definitive feasibility study and December 2023 prefeasibility study on the Toliara Project, along with the White Mesa Mill's 2024 prefeasibility study on rare earth oxide production, to reflect current economics.

The Government has agreed in the MOU, among other things, to:

  • assist the Company with obtaining all necessary administrative authorizations for the purpose of adding REE-bearing monazite recovery to existing permits;
  • certify the Project as eligible under the LGIM (or amended LGIM, if applicable) as soon as the LGIM eligibility conditions are met; support the prompt development of the Toliara Project, including (without limitation) by causing all relevant State authorities to timely consider and grant all complete applications for permits, licenses or authorizations necessary or desirable for the development and operation of the Toliara Project in accordance with the laws of Madagascar ;
  • maintain the fiscal, legal and customs stability of the Toliara Project;
  • not, directly or indirectly, receive, take or have an interest (including an economic interest or form of production sharing arrangement, and whether carried or free-carried) in the Company or any of its assets, including the Toliara Project;
  • provide active and public support for the Toliara Project, including by publicly announcing the State's support for the Toliara Project and its development; and
  • undertake any LGIM amendments in consultation with relevant stakeholders, including the Company, to ensure that such amendments (or similar instruments with legislative force) provide the necessary certainty of financial and legal terms to address the reasonable financial, operational and legal requirements of large-scale mining projects, and otherwise supports the bankability of the Toliara Project and the ability of the Company to achieve a positive FID.

In addition, under the MOU, the Company's agreement to pay a 5% royalty on revenues and its commitments to pay the US$80 million in development, community and social funding are conditional on:

  • the terms of the Stability Mechanism being adopted in a form that is satisfactory to the Company;
  • Project Certification having been obtained; and
  • prior to Project Certification having been obtained, there being no change to the laws of Madagascar (as they apply to the Company and the Toliara Project as at the date of the MOU) that is adverse to the Company or the Toliara Project.

The MOU and its terms are expressly subject to the foregoing conditions set out in the MOU. It should be noted that there can be no assurance that the foregoing conditions will be satisfied or as to the timing of satisfaction of those conditions, or the timing for approval of the addition of monazite to the mining permit. If such conditions are not satisfied, this could delay any FID in relation to the Toliara Project or prevent or otherwise have a significant effect on the development of the Toliara Project or ability to recover Monazite from the Toliara Project.

ABOUT Energy Fuels

Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, heavy mineral sands ("HMS"), vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy and owns and operates several conventional and in situ recovery uranium projects in the western United States. The Company also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado, near Denver, with its HMS operations managed from Perth, Australia. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." For more information on all we do, please visit http://www.energyfuels.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation that the Company will re-commence development activities on the ground, re-establish the Company's community programs or progress the other activities necessary to achieve a positive FID for the Toliara Project; any expectation that the Toliara Project is a 'generational' critical minerals project or that it has the strong potential to operate well beyond many of our lifetimes or at all; any expectation that the Company will continue working with the Government of Madagascar to formalize fiscal and other terms applicable to the Project through an investment agreement, amendments to existing laws or other mechanisms as appropriate; any expectation that rare-earth element production will be added to the existing mining permit; any expectation that the financial and legal stability of the Toliara Project will be maintained; any expectation that the Toliara Project will attain Project Certification or that the other conditions to the Company's funding obligations will be satisfied; any expectation that a positive FID will be made for the Toliara Project and the timing of any such positive FID; any expectation that the Toliara Project will be developed; any expectation that the MOU will create the framework for a long-term mutually beneficial partnership between a U.S. critical mineral company and the people of Madagascar ; and any expectation that the Company will be successful in recovering certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition from other producers; public opinion; government and political actions; the failure of the Company to provide or obtain the necessary financing required to develop the Project; market factors, including future demand for REEs; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/energy-fuels-and-madagascar-government-execute-memorandum-of-understanding-to-further-advance-toliara-critical-mineral-project-in-madagascar-302323924.html

SOURCE Energy Fuels Inc.

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Allied Critical Metals Intersects 12 Metres of 4.27% Tungsten  Incl. 6 Metres of 8.39% Tungsten  at Its 100% Owned Borralha Tungsten Project in Northern Portugal

Allied Critical Metals Intersects 12 Metres of 4.27% Tungsten Incl. 6 Metres of 8.39% Tungsten at Its 100% Owned Borralha Tungsten Project in Northern Portugal

Highlights:

  • Drill hole Bo_RC_14/25 intersects 12.0 metres @ 4.27% WO3 including 6.0 metres @ 8.39% WO3 from 252.00 metres downhole, confirming one of the highest-grade tungsten intercepts reported in Western exploration, especially for high quality wolframite tungsten mineralization. This validates early visual observations and supports the presence of a controlled high-grade breccia corridor.
  • Over 2,500 metres of drilling completed across nine holes, with multiple intercepts of visible wolframite and chalcopyrite. The remaining 1,600 metres of the 4,200 metre campaign now underway with a further fully funded 1,528 metres now also planned with two rigs active on site.
  • Tungsten price reaches high of $545 USD/MTU, up approximately 40% in last 4 months as demand for the critical mineral increases with further supply chain restrictions from non-Western countries.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company"), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce an update on its ongoing 4,200-metre Reverse Circulation (RC) drill program at the Borralha Tungsten Project. The initial phase of the campaign was launched in early June 2025 and continues to deliver strong technical progress, supporting: (i) an updated Mineral Resource Estimate (MRE), anticipated in Q4 2025; (ii) advanced metallurgical testing; and (iii) the Company's Preliminary Economic Assessment (PEA) for a large scale processing facility located at Borralha, targeted for completion later this year. A further fully funded 1,528 metre drilling is now also planned for the fourth quarter of 2025 to build off of the successes in July.

High-grade results from drill hole Bo_RC_14/25 marks a breakthrough for the Borralha Project, with further drilling and a Preliminary Economic Assessment already underway. The results are particularly timely as tungsten price has reached a new high of $545 USD/MTU, which is an increase of approximately 40% over the past four months as demand for the critical mineral increases in the face of further supply chain restrictions from non-Western countries [Source: FastMarkets].

Roy Bonnell, CEO & Director of Allied, commented, "These initial assay results are a major step forward for the Borralha Project and a clear validation of our geological model. The exceptional tungsten grades intersected in Bo_RC_14/25 place Borralha among the most exciting undeveloped critical mineral assets in Europe. As we advance toward the Mineral Resource update and Preliminary Economic Assessment, these results strengthen our confidence in Borralha's potential to become a cornerstone of Western countries' strategic raw material supply."

As of July 30, 2025, Allied had completed approximately 2,500 metres of drilling across nine drill holes. Drilling operations were temporarily paused during August in compliance with seasonal fire safety restrictions and successfully resumed on September 1, 2025. The program continues to advance towards its objectives, with a clear focus on three key technical priorities:

  • Expanding and upgrading the existing tungsten resource in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects ("NI 43-101"), with emphasis on increasing tonnage and converting Inferred Resources to Indicated Resources classification; and

  • Collecting representative material for metallurgical testing, to validate marketable concentrate grades at 65% WO₃.

Overview of Drilling to Date:

  • Drill hole Bo_RC_14/25 confirmed the presence of high-grade tungsten mineralization, with visual observations of massive wolframite supporting the interpretation of a potentially enriched corridor within the breccia-hosted system.

  • Drill hole Bo_RC_15/25 aimed to access the west deep step-out potential at the south area of the breccia. Visual inspection confirmed the presence of breccia together with evidence of wolframite. Assays of this drill hole are ongoing.

  • Drill holes Bo_RC_16/25 and Bo_RC_17/25 are infill drillholes to increase the Resource resolution and knowledge of the interchange between the large bulkable medium grade central backbone of the south area of the breccia, into the medium size high-grade corridors deeper to west. As expected, breccia with visible mineralization was visible, and the pending assays results will provide proper interpretation.

  • Drill holes Bo_RC_18/25 , Bo_RC_19/25 and Bo_RC_26/25 are infill drillholes at the central and lower grade area of the Breccia. Here the goal was to improve the Resource model resolution and grade at this section. Some visible mineralization was identified, but the pending assays are necessary to confirm the potential upgrade.

  • Drill holes Bo_RC_21/25 and Bo_RC_22/25 are drillholes meant to step-out the previous discovery of a potential new high-grade large corridor at the Bo_RC_11/24 drill hole that has no resources due to lack of composites pairs. Both drillholes encountered continuous breccia and multiple zones with visible sulphides and polymetallic indicators, including wolframite and chalcopyrite, reinforcing the continuity and depth of the mineralized system. Pending assays will confirm if a new economical vector for considerable Resource expansion is present at the north deep area of the breccia.

Table 1 – Collar locations

New ID Coordinates (WGS84) Az.(º) Dip .(º) DEPTH (m)
Bo_RC_14/25 585445 4611405 109 80 265.00
Bo_RC_15/25 585347 4611368 109 70 255.00
Bo_RC_16/25 585406 4611329 105 60 251.00
Bo_RC_17/25 585426 4611295 109 75 237.00
Bo_RC_18/25 585461 4611431 109 75 241.00
Bo_RC_19/25 585470 4611493 109 82 247.00
Bo_RC_21/25 585484 4611552 109 85 370.00
Bo_RC_22/25 585484 4611552 109 70 375.00
Bo_RC_26/25 585586 4611449 289 60 287.00

Cannot view this image? Visit: https://images.newsfilecorp.com/files/11632/265023_a4b3ded4f486c9d6_001.jpg

Figure 1 - Drill collar plan showing planned holes for the ongoing 5,728 m RC campaign at the Borralha Project. The red outline delineates the main mineralized breccia zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/265023_a4b3ded4f486c9d6_001full.jpg

All samples from the nine completed drill holes have been dispatched to ALS Laboratories in Seville for geochemical analysis, with initial assay results now beginning to return. The first results received from hole Bo_RC_14/25 confirm the presence of tungsten mineralization, consistent with earlier visual observations. Additional assay results from the remaining holes are expected over the coming weeks.

Building on Visual Confidence with Excellent Drill Results

The early stages of the 2025 RC drill campaign at Borralha Project were marked by highly encouraging visual intercepts across several holes. With the arrival of the first assays, that confidence has now been materially validated. Initial data confirms not only the continuity of breccia-hosted mineralization but also suggests that the Borralha Project hosts very high-grade tungsten intercepts as described below.

The results from the Bo_RC_14/25 drill hole represents a major technical milestone for Allied. The grade and length of the intercept reinforce the Company's position that the Borralha Project is one of Europe's most strategically important undeveloped tungsten assets. These assays will feed directly into the upcoming Mineral Resource Estimate (MRE) and Pre-Economic Assessment (PEA), both of which are expected to underpin Allied's near-term development plans.

Assay Highlights from Bo_RC_14/25 include, from 252.00m downhole:

  • 12.0 m @ 4.27% WO₃*, including

  • 6.0 m @ 8.39% WO₃*

*WO3 Tungsten trioxide % converted from W ppm multiplied by 1.2611 stoichiometric factor. W ppm results are from ALS Laboratories analytical method ME-MS81. For the ME-MS81 above detection limit of >10,000 ppm assays, ME-XRF15c is used.

A geological cross section for hole Bo_RC_14/25 is presented below, illustrating the location of the high-grade intercept within the broader breccia-hosted mineralized zone. The section highlights the continuity of the tungsten-bearing structures, the correlation with visual observations, and the potential for further extensions at depth and along strike.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/11632/265023_a4b3ded4f486c9d6_002.jpg

Figure 2 - Geological Cross-Section for hole Bo_RC_14/25.

To view an enhanced version of this graphic, please visit:
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Technical Information and Quality Control / Quality Assurance

Drillholes were all conducted with RC diamond bit drilling. All sample bags were pre-marked prior to drilling. They were each identified with an internal sequence number used as a sample identifier, both the sample for analysis and its reject samples. Each analytical sample bag is filled with a portion of 2 m length of drilled rock and each reject sample bag will take another representative portion of 1 m length of drilled rock. Thus, each two reject samples will be the equivalent to one assay sample. The splitting is done as part of the drilling process using a rotary splitter.

The analytical samples were collected directly from the rig splitter according to a sampling list that documented the metres and sampling sequence for each drill hole. This list also identified which sample should be collected in duplicate as well as which certified reference material ('CRM') were to be placed in the numerical sequence. The CRMs were randomly inserted at every 20 samples (5%), and duplicate samples were collected every 20 samples (5%). Thus, there's an alternating CRM and Duplicate every 10th sample.

The analytical and reject samples are then transported in boxes from the drilling site to the core shed by a designated employee. The analytical samples were stored on labelled palettes for later direct shipping to the ALS preparation laboratories in Seville, Spain. Later, the pulp and reject samples were securely stored in the logging room on the property.

To the best of the Company's knowledge, no drilling, sampling, recovery, or other factors exist that would materially compromise the accuracy or reliability of the referenced data

RC samples were prepared by ALS preparation laboratory in Seville, Spain, crushing the sample with up to 70% of the material passing a 2 mm screen, and then each sample was split to 250 g and pulverized with hardened steel to 85% passing a 75 μm screen. Each resultant sub-sample was then direct shipped to their certified assay laboratory Dublin Road, Loughrea, Co., Ireland.

The samples are analyzed by the ME-MS81 ALS method that applies a lithium borate fusion to the sample and the result of this fusion is measured by applying an ICP-MS. It is also applied to the ALS ME-4ACD81 procedure which reports base metals by a 4-acid digestion and later analyzed by an ICP-MS procedure. Any over-limit tungsten values were re-analysed at the same laboratory by a W-XRF15b procedure that uses a lithium borate fusion with an XRF analysis. The analytical results were then securely emailed to the Company.

Qualified Person's Statement and Data Verification

The scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR), Vice-President Exploration of Allied Critical Metals, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of Allied Critical Metals as he is an officer of the Company.

The Qualified Person has verified the data disclosed herein by reviewing core logs and drill records, validating collar and downhole survey data, assessing database integrity, reviewing assay QA/QC (CRMs, blanks, and duplicates), and reconciling reported intervals to the original laboratory certificates. The verification did not identify any factors that would materially affect the accuracy or reliability of the information presented.

Project Momentum and Strategic Positioning

The drill program is a cornerstone of Allied's strategy to position Borralha as Europe's leading high-grade tungsten development, combining grade, scale, and near-term production potential in a secure EU jurisdiction. With tungsten designated as a Critical and Strategic Raw Material by both the European Union and the United States, Borralha directly addresses Western supply vulnerabilities at a time of rising global demand and constrained Chinese exports. As one of the only advanced-stage tungsten assets in Western Europe, Borralha is uniquely placed to support defense readiness, AI, EVs, and the EU's Critical Raw Materials Act objectives for domestic sourcing.

This campaign also supports Allied's permitting and development milestones, including the submission of additional technical information in response to follow-up questions from the Environmental Impact Assessment (EIA) evaluation committee–a standard step in the review process. The Company expects to deliver its formal response by third quarter of 2025, with a final decision anticipated in fourth quarter of 2025 or early first quarter of 2026.

Next Steps

Allied is now preparing to complete the final 1,600 metres of drilling to reach the planned total of 4,200 metres for the current Phase 1 campaign. The remaining holes, including Bo_RC_20/25, Bo_RC_23/25, and Bo_RC_24/25 and Bo_RC_25/25, have been selected based on strong visual intercepts, structural continuity, and geological insights from previously completed drilling. Minor adjustments to the drill plan are being implemented to maximize coverage of key mineralized corridors while maintaining program efficiency. In addition, a further 1,528 metres drilling is now also planned for the fourth quarter of 2025 to build off of the successes in July.

Following a scheduled pause in August due to the regional fire season, drilling resumed on September 1 with two rigs operating simultaneously. The campaign has quickly regained momentum and remains on track to complete the targeted meterage within the planned timeframe. Field operations continue to run efficiently, positioning Allied to generate the technical data required for the upcoming Mineral Resource Estimate (MRE) update and Preliminary Economic Assessment (PEA).

New Advisory Role; Other Corporate

The Company is announcing that Colin Padget has resigned his position as director effective September 1, 2025, but is being retained as an advisor to the Company going forward. The Company wishes to thank Colin for his contributions and looks forward to his continued involvement as an advisor to the Company.

In addition, the Company prematurely announced the grant of stock options (Options) and restricted share units (RSUs) in its news release dated September 2, 2025. In light of the drill results in this press release, the Company is postponing the grant to a future date.

ON BEHALF OF THE BOARD OF DIRECTORS,

"Roy Bonnell"

Roy Bonnell
CEO and Director

For further information or investor relations inquiries, please contact:

Dave Burwell
Vice President, Corporate Development
Email: daveb@alliedcritical.com
Tel: 403-410-7907
Toll Free: 1-888-221-0915

About Tungsten

It is critical to understand the difference between wolframite mineralization of tungsten and scheelite mineralization of tungsten. Scheelite often reports higher grades (0.3%-1.0% WO₃) but is more costly and complex to process, requiring flotation methods with higher capital and operating expenditures and lower recoveries.i In contrast, wolframite, which is the focus of Allied Critical Metals can be processed more efficiently using gravity and magnetic separation, resulting in lower costs and higher recoveries, making lower grades (~0.15%-0.25% WO₃) economically viable in wolframite deposits.ii For example, a wolframite deposit with 0.4% WO₃ over 3 metres can be more profitable than a scheelite deposit with 0.7% WO₃ over the same interval due to lower processing costs and higher recovery rates.iii

In Western exploration drilling, scheelite tungsten grades typically range from 0.3% to 1.0% WO₃.iv The cut-off grade for economic viability is generally around 0.1% WO₃, with highly efficient operations able to mine at grades as low as 0.08% WO₃.v Skarn deposits, a common deposit type, typically range from 0.34% to 1.4% WO₃, with intercepts of 0.4% WO₃ over 1-5 metres considered very good and 0.7% WO₃ over 1-3 metres considered very high-grade.vi Intercept lengths can range from 0.6 metres to over 100 metres, with longer intercepts at strong grades generally preferred for economic mining. For example, two leading western tungsten mines demonstrate the standards for scheelite with results like 9.5 m @ 0.76% WO₃ and 14.1 m @ 0.58% WO₃vii at the Sangdong Mine* in South Korea and 18 m @ 1.00% WO₃ reported at the Mt. Carbine Tungsten Project* in Australia.viii

In contrast, the Panasqueira Mine* in Portugal typically reports 1-5 m @ 0.25-0.5% WO₃ as a wolframite depositix A result like 0.5% WO₃ over 3 metres is considered typical and strong within Western tungsten exploration standards, especially for wolframite tungsten mineralization.x

To understand tungsten, it is also important to recognize that China, Russia, and North Korea control approximately 87% of the world's tungsten supply, using cheap labour and minimal environmental standards in authoritarian regimes.xi As a result, production costs and grades in these countries are not comparable to Western projects, which operate under higher labour, ESG, and energy cost structures.xii Evaluating projects outside these regions provides a realistic benchmark for what grades and intercepts are economically viable while supporting secure, NATO-aligned supply chains.xiii

For Allied, this context is significant, as the Company's grades, ranging from 0.2% to 1.0% WO₃, are considerable against global wolframite benchmarks, with intercepts that meet or exceed typical Western results.xiv The Company's focus on wolframite will correspond to lower processing costs and higher recoveries, supporting project economics even at lower grades.xv Allied's operations in secure jurisdictions align with Western critical mineral needs, avoiding geopolitical risks associated with China and Russia while positioning the Company to benefit from growing tungsten demand across defense, aerospace, and electrification sectors.xvi Allied's strong grades, low-cost processing advantages, and secure location position it as a strategic and responsible tungsten exploration company, well placed to support robust project economics in a rising-demand market.xvii

*The results cited for the Sangdong Mine, the Panasqueira Mine and the Mt. Carbine Tungsten Project are based on public disclosures and are presented for industry benchmarking and comparison purposes only. Allied has no interests in those mineral projects.

About Allied Critical Metals Inc.

Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal with advantageous wolframite tungsten mineralization. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. Tungsten is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

Please visit our website at www.alliedcritical.com.

Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company's mineral projects as described in the Company's Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

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