Stillwater Critical Minerals Corp.

Description

Stillwater Critical Minerals Corp. is a resource-stage polymetallic explorer led by its 100%-owned Stillwater West project in Montana, USA, immediately adjacent to the operating Sibanye-Stillwater mining district. The August 2026 Mineral Resource contains 29.4 Mt Indicated grading 0.38% NiTEq and 805.1 Mt Inferred grading 0.34% NiTEq, with significant contained nickel, copper, cobalt, platinum-group metals, gold and chromium.

The investment case is based on exceptional resource scale, higher-grade internal zones, strong Tier 1 infrastructure, strategic backing from Glencore and exposure to multiple U.S. critical minerals. The company's largest drilling program to date is focused on resource expansion and conversion while metallurgy, engineering and potential economic studies advance. At June 30, 2026, the company reported C$12.8M cash and no debt.

List of Projects:

Project 1: Stillwater West
Montana, USA — Nickel, copper, cobalt, platinum, palladium, rhodium, gold and chromium. 100%-owned flagship 61 km² polymetallic project with an 834.5 Mt total MRE across the Chrome Mountain and Iron Mountain systems.

Project 2: Drayton-Black Lake Gold
Ontario, Canada — Gold. 49%-owned 142 km² project beside NexGold's Goliath complex. Heritage can earn up to 90%.

Project 3: Kluane
Yukon, Canada — Platinum-group metals, nickel and copper. 100%-owned 260 km² exploration portfolio including Catalyst, Spy, Ultra, Ellen, Outpost and Pacer targets.

Project 4: Duke Island
Alaska, USA — Copper, nickel and PGEs. 100%-owned 31-claim project with four known mineralized zones; only Marquis has been partly drilled.

Project 5: Yankee-Dundee Retained Interest
British Columbia, Canada — Retained contractual optionality. The project was sold, so it should not be treated as a current owned exploration project; Stillwater retains advance/contingent royalty payments and a back-in right.

Weakness

List of projects

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