Allied Critical Metals Joins the Critical Minerals Forum to Advance Secure Tungsten Supply

Executive Summary

• Allied Critical Metals Inc. announced its membership in the Critical Minerals Forum (CMF), a U.S.-based non-profit initiative aimed at strengthening secure global critical mineral supply chains, specifically focusing on tungsten supply outside of China and Russia.
• The company highlighted the strategic importance of its 100% owned Borralha and Vila Verde tungsten projects in northern Portugal, noting Borralha as one of Europe's largest undeveloped tungsten deposits with a NI 43-101 resource estimate of 4.98 Mt @ 0.22% WO₃ (Indicated) and 7.01 Mt @ 0.20% WO₃ (Inferred).
• Concurrently, the company announced the grant of 3,125,000 stock options and 3,125,000 restricted share units (RSUs) to directors, officers, employees, and consultants under its omnibus equity incentive plan.

Key Details

• Strategic Membership: Allied joined the Critical Minerals Forum (CMF), contributing to working groups focused on supply chain diversification, midstream processing, and data-driven market forecasting.
• Project Resources (Borralha Tungsten Project):
  • Indicated Resource: 4.98 million tonnes at 0.22% WO₃.
  • Inferred Resource: 7.01 million tonnes at 0.20% WO₃.
  • Technical Report: "Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal," effective July 31, 2024.
• Equity Grants:
  • Stock Options: 3,125,000 options granted at an exercise price of $0.345 per share.
  • Restricted Share Units (RSUs): 3,125,000 RSUs granted.
  • Vesting: Both options and RSUs vest immediately.
  • Expiration: Options expire 5 years after the date of grant.
  • Hold Period: A four-month hold period applies in accordance with Canadian securities laws and CSE policies.
• Strategic Context: The company positions itself as a potential near-term source of tungsten supply for Western markets, aiming to reduce reliance on China and Russia, which currently represent approximately 86% of global supply and reserves.

Notable Quotes

• Roy Bonnell, CEO & Director: "Allied is proud to join the Critical Minerals Forum at such a pivotal time for global supply chain security. Tungsten is recognized as one of the most strategic and irreplaceable critical minerals, yet supply is overwhelmingly concentrated in China. By advancing Borralha & Vila Verde, we are working to establish Europe's next major tungsten mines - and our participation in CMF ensures we can contribute to shaping the policies, partnerships, and strategies that will underpin Western supply resilience."
• Rob Strayer, President of the Critical Minerals Forum: "Allied Critical Metals brings important expanded capacity to the supply of tungsten, which is a critical mineral that is a priority for the Forum for both national and economic security reasons. Allied's upstream perspective and regional positioning make them a valuable contributor to the Forum."