Allied Critical Metals Inc (ACM)

Market One: Allied Critical Metals and Its Dual-Asset Tungsten Strategy in Northern PortugalMay 28, 2026 2:07 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 28, 2026) - Market One ("Market One"), a marketing agency for public companies, shares editorial and video features on emerging growth stories across the resource, energy, and technology sectors. Market One delivers content creation and distribution through a suite of products across video, editorial, and social media.Allied Critical Metals Inc.: Advancing Two Historically Producing Tungsten Projects Toward Near-Term Production in Northern PortugalAllied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) (the "Company" or "Allied") outlined its tungsten development strategy across its two northern Portugal properties, including a Preliminary Economic Assessment on the Borralha Tungsten Project demonstrating an NPV of $964 million at US$1,500 per MTU, an active 20,000-metre drill campaign, and a Vila Verde pilot plant targeting first tungsten concentrate production before year-end 2026.The article examines Allied's dual-asset approach to advancing Western tungsten supply, against the backdrop of record-high tungsten prices and a global supply landscape in which over 90% of production originates from non-rule-of-law nations. The Company's projects are situated in northern Portugal, one of Europe's most established mining jurisdictions.To read the full article, please visit BNN Bloomberg at: https://www.bnnbloomberg.ca/investment-trends/2026/05/28/allied-critical-metals-moves-to-fill-the-western-tungsten-gap-with-dual-asset-portugal-strategy/About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Project are available in the Company's NI 43-101 Preliminary Economic Assessment Technical Report dated April 14, 2026, filed on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.Contact:
Dave Burwell
Vice President, Corporate Development
daveb @carromill-7907
Toll Free: 1-800-221-0915About Market OneMarket One is a Canadian marketing agency for public companies, delivering best-in-class content creation and distribution. The firm helps position companies for meaningful engagement through a suite of products across video, editorial, and social media. Clients benefit from increased visibility and strengthened awareness through Market One's content and relationships with industry-leading media outlets.To learn more about Market One, visit its website.Contact:
Bryan Nikkel

Allied Critical Metals Announces Corporate Update and Operational UpdateMay 20, 2026 3:00 AM
NewsfileKey Highlights:Allied is fully funded for the next 12 months with over $45 million in cash liquidity.The Company secured a transformational U.S.$40 million financing and tungsten off-take agreement with U.S.$1,000/mtu floor price.First tungsten concentrate production targeted for Q4 2026, subject to regulatory approvals and timely receipt of long-lead items.Borralha Project drilling intersected over 200 metres with multiple intercepts of visible tungsten mineralization at the new Venise Breccia target.Insider buying increased management ownership to approximately 14% of the Company.Vancouver, British Columbia--(Newsfile Corp. - May 20, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to provide an update with respect to its corporate initiatives and operations progress at the Borralha and Vila Verde projects in northern Portugal."We have just recently passed the one-year anniversary of Allied being a public company and are proud to report that we have been very busy executing on our corporate and operational plans," commented Roy Bonnell, Chief Executive Officer and Director of Allied. "To be one year into this journey and fully financed through the end of 2027 is a strong position to achieve. We are eagerly awaiting first tungsten concentrates from the pilot plant at the Vila Verde Project and the drilling campaign at the Borralha Project is in full swing. We expect to see results from our latest drilling campaign in the coming weeks to add the discovery of a second breccia complex at the Borralha Project. Importantly, Allied is fully funded to achieve initial production at the Vila Verde Pilot Plant and meet its stated objectives over the next 12 months."Corporate UpdateU.S.$40 million Transformational Strategic Financing and Off-Take Agreement with Floor Price of U.S.$1,000/mtuOn April 24, 2026, Allied announced a non-brokered private placement offering of common shares at a price of $2.05 per share (the "Offering") with an existing strategic investor (the "Existing Strategic Investor") and a new strategic investor (the "New Strategic Investor") for gross proceeds of U.S.$25 million. The Offering is subject to approval of the CSE. The first tranche of the Offering in the amount of U.S.$10 million closed on April 27, 2026. The remaining tranche of the Offering is expected to close on or before July 17, 2026. The Existing Strategic Investor has entered into a binding agreement to back-stop the commitment of the New Strategic Investor.In addition to the Offering, the Existing Strategic Investor has also agreed to provide the Company with U.S.$15 million in project financing to build the Company's Vila Verde pilot project (the "Pilot Plant") and has entered into an off-take agreement (the "Off-Take Agreement") with the Company for 50% of the tungsten concentrates produced at the Pilot Plant. The Off-Take Agreement is subject to a floor price of U.S.$1,000/mtu for the calendar year 2026, subject to customary price revisions. The Off-Take Agreement provides flexibility for governmental agencies, including agencies associated with the United States Department of War and the Portuguese defense sector, including IdD Portugal Defense, which has recognized the Project as strategically important for Portugal, Europe and NATO supply chains, to purchase tungsten concentrates from the Company. Summary of Current Balance SheetAs of the date hereof, the Company has liquid cash assets of over $25 million and an undrawn project financing facility (the "Facility") in the amount of up to U.S.$15 million ($20.7 million) for total cash availability of over $45 million. Accordingly, Allied is fully funded to start operations at the Pilot Plant and meet its stated objectives over the next 12 months.Common Share Purchases by InsidersAllied today announced that certain officers, directors, and consultants, led by the Company's Chief Executive Officer and Executive Director (together, the "Insiders"), in the aggregate, acquired 222,500 common shares in the capital of Allied ("Common Shares") on the open market. The purchase of Common Shares by Insiders reflects their confidence, commitment and support of the Company. With these purchases, insiders and certain consultants, in the aggregate, now own or control approximately 23.9 million Common Shares, representing approximately 14% of the Company's issued and outstanding Common Shares as of today.TSX Venture Exchange ListingAllied has applied to list its common shares on the TSX Venture Exchange ("TSX-V") as a Tier 1 mining issuer. The listing application is subject to review by the TSX-V and satisfaction of applicable listing requirements. Subject to such review and approval, the listing is expected to be completed within approximately four weeks from the date hereof.Intention to list on the NasdaqUpon completion of the TSX-V listing, Allied intends to file a registration statement on Form F-10 (the "Registration Statement") with the U.S. Securities and Exchange Commission pursuant to the Canada/United States Multi-Jurisdictional Disclosure System in connection with a proposed listing of the Company's common shares on the Nasdaq Stock Market. The proposed Nasdaq listing is intended to strengthen Allied's longer-term capital markets strategy, broaden its potential shareholder base and enhance the liquidity of its common shares. The proposed listing of Allied's common shares remains subject to satisfaction and completion of Nasdaq's initial listing requirements and procedures and the receipt of all regulatory approvals (including approval of the Registration Statement by applicable Canadian and U.S. regulators).Opening of New Office / Core Shack The Company has recently completed the relocation of its field office and core shack to an expanded office of approximately 1,600 square feet and core facility of approximately 6,500 square feet in northern Portugal to support the continued advancement of its exploration and development activities. The new facility includes dedicated technical offices, meeting areas and upgraded operational space for geological and core processing activities. The new facility also hosts enhanced digital geological logging and core imaging capabilities.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/298128_acm-figure1.jpgDiamond Equity ResearchAllied has engaged Diamond Equity Research LLC ("Diamond Equity") effective May 12, 2026, a firm focusing on small-cap companies, to initiate coverage, providing in-depth research reports including valuation analysis, business model breakdowns, and industry overviews. This 12-month engagement with compensation of U.S.$50,000 aims to increase market visibility, with reports covering Allied's tungsten assets and 2026 expansion plans. Diamond Equity is arm's length to the Company and has its address at 3rd Floor, 1441 Broadway, New York, New York, USA 10018; Tel: (646) 300-5723; research@diamondequityresearch.com.Conference AppearancesOn May 11 and 12, 2026, the Company's technical team attended the Iberian Mining Investment Forum (FIM 2026) which included a workshop on project financing mechanisms. Vitor Arezes, Vice-President, Exploration of Allied, was invited to speak during the sessions entitled "Iberian listed mining companies".On May 13 and 14, 2026, Roy Bonnell, CEO and Director of Allied, attended the Critical Minerals Summit in Toronto, Canada.On May 18 and 19, 2026, General (ret.) James "Spider" Marks, director of Allied Critical Metals USA Inc., attended the Commodities Global Expo in Washington, DC.On May 27, 2026, Roy Bonnell, CEO and Director of Allied, will attend Ventum Financial's "Tungsten Titans: A Heavy Metal Gathering" conference in Montreal.Operational UpdateBorralha ProjectAllied has publicly filed its new technical report entitled "Preliminary Economic Assessment – Borralha Tungsten Project, Parish of Salto, District of Vila Real, Portugal", dated effective April 14, 2026 (the "Technical Report") which supports the results of preliminary economic assessment ("PEA") of the Company's 100% owned Borralha Tungsten Project in northern Portugal previously announced on March 10, 2026 and March 2, 2026. The Technical Report is available under the Company's profile on SEDAR+ at www.sedarplus.ca.A summary of the economic results of the PEA is set out below:ScenarioPrice(1)NPV (8%)(2)IRR(3)Payback SC(4)Payback CCP(4)Medium$1,365/mtu
(U.S.$1,000/mtu)$473.4M
(U.S.$346.6M)48.8%2.2 years4.2 yearsBase$962/mtu
(U.S.$704/mtu)$182.7M
(U.S.$134.0M)27.2%3.8 years5.8 yearsHigh$2,049/mtu
(U.S.$1,500/mtu)$963.8M
(U.S.$796.4M)78.4%1.2 years3.2 years 
(1) Prices based on Argus Media price forecasts. Canadian dollar (C$) equivalents calculated using a foreign exchange rate of C$1.3658:U.S.$1.00.
(2) NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. M = million.
(3) IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
(4) Payback is a Non-GAAP measure; see notes below for additional information regarding payback.
(5) For more information, please see the Company's news releases dated March 10, 2026 and March 2, 2026.This current PEA is based on the updated Mineral Resource Estimate ("2025 MRE") for the Santa Helena Breccia at the Borralha Project with an effective date of November 16, 2025 (see table below), which is also presented in the current Technical Report. Under the 2025 MRE, the cut-off grade of 0.09% WO3 was selected based on reasonable prospects for eventual economic extraction under conceptual underground mining and gravity-dominant processing assumptions, including a very conservative tungsten price of U.S$550/mtu WO3 and assumed recovery of approximately 80% (for MRE cut-off determination only). 2025 MRE for the Borralha Project (see also Technical Report for further details)ClassificationTonnes (Mt)*Grade (% WO3)Measured + Indicated13.00.21Inferred7.70.18 *Mt denotes millions of tonnes (t).The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. During the first quarter of 2026, Allied commenced a 20,000 metre drilling campaign at the Borralha Project. Thus far, Allied is pleased to report drilling has intersected over 200 metres of breccia with multiple intercepts of visible mineralization at the newly defined Venise Breccia target within its 100%-owned Borralha Tungsten Project in northern Portugal. In particular, ongoing drilling at a newly defined target within the historically documented Venise Breccia at the Borralha Tungsten Project has intersected zones of hydrothermal alteration and quartz-sulfide veining containing visible wolframite, molybdenite and chalcopyrite. Over 200 metres of breccia with multiple intercepts of visible mineralization, indicating significant breccia-hosted alteration and mineralization system (true width not yet determined). Mineralized intervals are consistent with the interpreted Venise Breccia geological model. The Company expects first assay results from the drilling campaign to be available the first week of June 2026. For more information about Venise, please see the Company's news release dated April 7, 2026.Currently, there are five drilling rigs that have been mobilized as part of the drilling campaign. The Company expects a sixth drilling rig to be mobilized this week and this will enable the completion of the drilling campaign by the end of July 2026.Vila Verde ProjectFollowing the completion of the Vila Verde Project conceptual engineering for the Pilot Plant, the Company has initiated preparations for the procurement of long lead items required for construction and commissioning of the Pilot Plant with an initial throughput capacity of 150,000 tonnes per year. With financing now secured, the Pilot Plant is transitioning from engineering and test work into the equipment procurement and implementation phase. The principal long lead items identified to date are the following: jaw crusher, cone crusher and vibrating screens for the crushing circuit;rod mill package, including motor, gearbox and VSD systems;hydroclassifier, rougher and cleaner spirals, and shaking tables for the gravity concentration circuit;thickener, dewatering unit and Warman slurry pumps for water recovery and tailings management; andMCCs, instrumentation, SCADA and process control systems.The rod mill and gravity concentration equipment are currently considered the critical items due to fabrication and supplier lead times, which are expected to range between approximately 12 and 24 weeks depending on final specifications and supplier availability. The procurement activities and vendor engagement are expected to advance during the second and third quarters of 2026, with delivery of major equipment packages targeted for late 2026 and Pilot Plant assembly and commissioning thereafter.The Company has initiated preliminary internal beneficiation and concentrate production test works utilizing previously collected surface and historical material samples, which have successfully generated maiden wolframite concentrates for initial marketability assessment and mineralogical characterization purposes. In addition, the Company has initiated follow-up mineralogical, liberation and concentrate optimization studies utilizing material generated from the previously completed internal test work program at the Vila Verde Project. The Company is expecting tungsten concentrate production to commence in the fourth quarter of 2026, subject to regulatory approvals and timely receipt of long-lead items.Examples of wolframite-bearing material samples from the "Justes" area of the Vila Verde Project.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/298128_acm-figure2.jpgPhotographs of gravity concentration equipment utilized during the preliminary internal test work program.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/298128_acm-figure3.jpgExample of gravity separation behaviour observed during preliminary internal concentration test work.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/298128_8f5d847e84655a14_010full.jpgExamples of preliminary magnetic concentration products generated during internal beneficiation testwork.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/298128_acm-figure4.jpgThe Pilot Plant and activities referenced herein are not based on any mineral resources or reserves and as a result no preliminary economic analysis or feasibility study has been completed. As a result, any production that might occur from the Pilot Plant has a high risk of economic and technical failure. There is significant uncertainty that the project is economic and/or viable. Any disclosure related to the Pilot Plant is on the basis of it being a pure infrastructure development scenario and that it is unclear if any mineralized material from the property will be processed at the Pilot Plant. Qualified PersonThe scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR) (Membership Nº. 703197), Vice-President Exploration of the Company, 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 the Company as he is an officer of the Company. The Qualified Person has verified the data disclosed in this news release.About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Project are available in the Company's NI 43-101 Preliminary Economic Assessment Technical Report dated April 14, 2026, filed on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.ON BEHALF OF THE BOARD OF DIRECTORS"Roy Bonnell"
CEO and DirectorAdditional information is also available by contacting the Company:Dave Burwell
Vice President, Corporate Development
daveb @carromill-7907
Toll Free: 1-800-221-0915Please also 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/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding Forward-Looking InformationForward-looking information involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors and risks include, among other statements regarding the completion of the Offering (including any applicable regulatory approvals of the Offering); the proposed use of proceeds from the Offering; the anticipated listing on the TSX-V and the Nasdaq; the expected timing of the completion of the Pilot Plant and commencement of tungsten concentrate production at the Pilot Plant; the purchase of any of Company's tungsten concentrate by the US Department of War or any other governmental agency or department of the United States or any other country; the Facility and the terms thereof; the timing of obtaining the assay results; the mobilization of the sixth drilling rig; the delivery of major equipment packages and Pilot Plant assembly and commissioning; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is identified by, among other things, words such as "plans", "expects", "is expected", "aims", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "potential", "target", "opportunity", "may", "could", "would", "might", "will" and similar terminology, as well as statements regarding outcomes that "will", "should" or "would" occur. All forward-looking information should be considered carefully, and the reader should not place undue reliance thereon. In addition, reference should also be made to the risk factors listed in the Company's most recently filed management's discussion and analysis and Annual Information Form dated April 24, 2026, all as filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update this forward-looking information in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by applicable law.Non-GAAP Financial MeasuresThe Company has included certain non-GAAP financial measures in this press release. These financial measures are not defined under International Financial Reporting Standards ("IFRS") and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.Net Present Value (NPV)[1] – is the present value calculation of net profit from operations determined using a particular discount rate. All NPV values stated herein are on an after tax basis.Internal Rate of Return (IRR)[2] – is a financial metric used to assess an investment's profitability by calculating the annual rate of return that makes the NPV of all cash flows (both positive and negative) equal to zero.Payback[3] – is calculated in years as the length of time that it takes to pay off the capital costs from annual net profit expected from operations at the Borralha Project.Initial capital[4] – is the initial capital cost amount required to be expended to construct the mine and tungsten concentrator process equipment and buildings to begin processing mineralized material into saleable tungsten concentrate at commercial quantities according to the life of mine plan at the Borralha Project. Sustaining capital[5] – is a supplementary financial measure which reflects cash basis expenditures which are expected to maintain operations and sustain production levels at the Borralha Project.Capital costs or Total life of mine capital costs[6] – include the Initial capital and the sustaining capital.Operating costs[7] – are the costs required to process mineralized material into saleable tungsten concentrate at the Borralha Project. This includes: underground mining; processing and plant operations; general and administrative costs; and site services and infrastructure support. This can be calculated on the unit basis per mtu WO3 produced.Cash flow[8] – includes average annual revenue, average annual EBITDA (earnings before interest, taxes, depreciation and amortization), average annual pre-tax cash flow, average annual free cash flow, life of mine revenue, life of mine free cash flow. Average annual revenue is the average annual gross revenue over the life of mine. Average annual EBITDA[9] - is the average annual EBITDA over the life of mine. Average annual pre-tax cash flow is the average over the life of mine of the annual free cash flow prior to deduction of taxes. Life of mine revenue is the total gross revenue over the life of mine. Life of mine free cash flow is the total free cash flow over the life of mine. Free cash flows are revenues net of operating costs, royalties, working capital adjustments, capital expenditures and cash taxes. The Company believes that this measure is useful to readers in assessing the Company's ability to generate cash flows from Borralha.All-In Sustaining Costs (AISC) [10] – are comprised of sustaining capital expenditures and site level costs to support ongoing operations and closure costs. All-in sustaining costs per mtu WO3 is calculated as AISC divided by the amount of mtu WO3 produced during the period that the costs are incurred. All-in sustaining costs capture the important components of the Company's production and related costs and are used by the Company and investors to understand projected cost performance at the Borralha Project. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported by the Company. All-in sustaining cost includes both operating and capital costs required to sustain WO3 production on an ongoing basis. Sustaining operating costs represents expenditures expected to be incurred at the Project that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.[1] NPV(8%) = net present value at a 8% discount rate. NPV is a Non-GAAP measure; see notes above for additional information regarding NPV. USD = United States dollars. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.
[2] IRR = internal rate of return. IRR is a Non-GAAP measure; see notes above for additional information regarding IRR.
[3] Payback is a Non-GAAP measure. See notes above for additional information regarding payback.
[4] Total life of mine capital cost is a Non-GAAP measure. See notes above for additional information regarding total life of mine capital cost. Initial capital cost is also a Non-GAAP measure. See notes above for additional information regarding initial capital cost.
[5] Sustaining capital is a Non-GAAP measure. See notes above for additional information regarding sustaining capital.
[6] Initial capital cost is a Non-GAAP measure. See notes above for additional information regarding initial capital cost.
[7] Operating cost is a Non-GAAP measure. See notes above for additional information regarding Operating Cost.
[8] Cash flow is a Non-GAAP measure. See notes above for additional information regarding cash flow.
[9] Average annual revenue, average annual EBITDA, and average annual free cash flow are Non-GAAP measures. See notes above for additional information.
[10] All-In Sustaining Costs (AISC) is a Non-GAAP measure; mtu WO3 = metric tonne unit of tungsten; WO3 is tungsten trioxide. See notes above for additional information regarding AISC.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/298128 Original: Allied Critical Metals Announces Corporate Update and Operational Update

Allied Critical Metals Announces Closing of First Tranche of Strategic FinancingMay 4, 2026 6:01 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 4, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its previously announced non-brokered private placement offering of common shares (the "Offering") with an existing strategic investor (the "Existing Strategic Investor") for gross proceeds of U.S.$10 million. In addition, Allied confirms that the previously announced project financing facility (the "Facility") in the aggregate principal amount of U.S.$15 million, provided by the Existing Strategic Investor to finance the construction and expenses of the Pilot Plant, is in place and available to be drawn at any time by the Company in accordance with its terms.The Company intends to use the net proceeds of the Offering for the development of the its Vila Verde pilot project (the "Pilot Plant"), ongoing exploration and development activities on the Borralha Tungsten Project and for additional working capital. "We are very pleased to close the First Tranche and have access to the Facility. Allied is moving aggressively now to complete the construction of the first phase of the Pilot Plant, which we expect to be completed during the fourth quarter of 2026. With the closing of the Offering and the Facility, Allied is very pleased to be fully-funded into the end of 2027," commented Roy Bonnell, Chief Executive Officer of Allied. "To be able to start tungsten concentrate production in 2026 with a meaningful floor price of U.S.$1,000/mtu sets us apart from many of our peers. Portugal has a long history of being a strategic source of tungsten concentrates and we are eager to build upon that storied tradition."The First Tranche was comprised of common shares of the Company (the "Shares" and each, a "Share") issued at a price equal to the 10-day volume weighted average trading price of the Shares on the Canadian Securities Exchange (the "CSE") at the date of signing of the subscription agreement, being $2.05 per Share (the "Offering Price"). The Shares were issued in accordance with the policies of the CSE. The Shares are subject to a hold period of four months and one day, as required by applicable securities laws and the policies of the CSE. In connection with the closing of the First Tranche, 6,677,073 Shares have been issued to the Existing Strategic Investor.In connection with the First Tranche, the Company paid a finder's fee to eligible finders comprised of a cash commission equal to 5% of the gross proceeds raised and broker warrants equal to 5% of the number of Shares issued under the First Tranche, with each broker warrant entitling the holder to purchase one Share at the Offering Price for a period of 24 months from the date of issuance. The Company anticipates completion of the remaining U.S.$15 million of the Offering with a new strategic investor by July 17, 2026, subject to due diligence and other customary closing conditions.The Offering remains subject to approval of the CSE.This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.Qualified PersonThe scientific and technical information in this release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM QMR (#703197), Vice-President Exploration of Allied Critical Metals, a Qualified Person under National Instrument 43-101. Mr. Arezes is not independent of Allied Critical Metals Inc. as he is an officer of the Company. The Company is not basing its production decision for the Pilot Plant based on a feasibility study of mineral reserves demonstrating economic and technical viability; and consequently, there is increased uncertainty, technical risks, and risks of economic viability or failure associated with the production decision. The purpose of the Pilot Plant production is to assist in development of the mineral property at Vila Verde as the Company works toward a feasibility study while gaining experience producing tungsten concentrate at the property. About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the project for advancement toward feasibility and development. The Vila Verde project represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Tungsten Project are available in the Company's NI 43-101 Preliminary Economic Assessment Technical Report for the Borralha Tungsten Project dated April 14, 2026, filed under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.ON BEHALF OF THE BOARD OF DIRECTORS"Roy Bonnell"
CEO and DirectorAdditional information is also available by contacting the Company:Dave Burwell
Vice President, Corporate Development
daveb @carromill-7907
Toll Free: 1-800-221-0915Please also 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/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding Forward-Looking InformationThis news release may contain "forward-looking information" ("FLI") within the meaning of applicable Canadian securities laws. FLI in this release includes, without limitation, statements regarding the completion of the Offering; the proposed use of proceeds from the Offering; the expected timing of the completion of the Pilot Plant; the Company's ability to commence tungsten concentrate production; CSE approval of the Offering; the Facility and the terms thereof; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Such FLI is identified by, among other things, words such as "plans", "expects", "is expected", "aims", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "potential", "target", "opportunity", "may", "could", "would", "might", "will" and similar terminology, as well as statements regarding outcomes that "will", "should" or "would" occur. Such FLI should be considered carefully, and the reader should not place undue reliance thereon. In addition, reference should also be made to the risk factors listed in the Company's most recently filed management's discussion and analysis and Annual Information Form dated April 24, 2026, all as filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note. The Company does not undertake to update any forward-looking information except as required by applicable securities laws.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295893 Original: Allied Critical Metals Announces Closing of First Tranche of Strategic Financing

Allied Critical Metals Establishes "Social Monitoring and Advisory Committee of the Borralha Mine Project"April 30, 2026 7:30 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 30, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("ACM" or the "Company") announces that Minerália - Minas, Geotecnia e Cosntruções, Lda. ("Minerália") has, as registered title holder of the Borralha mineral concession being held beneficially in trust for ACM, formally established the "Social Monitoring and Advisory Committee of the Borralha Mine Project" (Comissão de Acompanhamento e Observatório Social do Projeto da Mina da Borralha) as a dedicated platform for stakeholder engagement, transparency, and community participation (the "Committee").This Committee brings together, for the first time in Portugal, a fully representative group of local and community stakeholders in the Borralha Tungsten Project, including:Municipality of Montalegre;Parish of Salto;Local community, cultural and sports associations;Representatives of the local population of Borralha;Representatives of local farmers;Common land (baldios) representatives;Salto Volunteer Fire Brigade; andAcademic representation through the Department of Earth Sciences of the University of Minho (Braga).The establishment of this Committee forms part of the Company's Environmental Impact Declaration (DIA) commitments, ensuring the structured monitoring of the social, environmental, and economic impacts of the Company's Borralha Tungsten Project, while promoting ongoing dialogue and cooperation with the local community.The creation of the "Social Monitoring and Advisory Committee of the Borralha Mine Project" represents a significant milestone in the development of the Borralha Project. It reflects not only compliance with regulatory requirements but also a proactive and structured approach to reinforcing the project's social license to operate.Importantly, the Committee has been constituted with the unanimous participation of all invited stakeholders, demonstrating a strong level of local engagement, trust, and willingness to actively contribute to the project's successful development.Roy Bonnell, CEO and Director of Allied Critical Metals, commented: "The establishment of this Committee is a very important step in the development of the Borralha Tungsten Project. It reflects our commitment to transparency, responsible development, and meaningful engagement with local communities. Having all stakeholders participate unanimously is a strong signal of trust and reinforces our confidence in Borralha as a long-term, sustainable project aligned with European strategic priorities."João Barros, President, COO and Director of Allied Critical Metals, added: "This initiative goes beyond regulatory compliance. It sets a new standard in Portugal for how mining projects can be developed in close partnership with local communities. The unanimous participation of all stakeholders demonstrates a shared vision for the future of Borralha and aims to ensure that the project's social and economic benefits are developed in a structured, inclusive, and transparent manner."This initiative sets a new benchmark in Portugal for stakeholder involvement in mining and infrastructure projects, highlighting a model based on transparency, inclusiveness, and shared value creation.About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned tungsten mineral projects, the Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Tungsten Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favorable Environmental Impact Declaration (DIA), positioning the Project for advancement towards feasibility and development. The Vila Verde Tungsten Project represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Tungsten Project are available in the Company's NI 43-101 Preliminary Economic Assessment Technical Report for the Borralha Tungsten Project dated April 14, 2026, filed under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.ON BEHALF OF THE BOARD OF DIRECTORS"Roy Bonnell"
CEO and DirectorAdditional information is also available by contacting the Company:Dave Burwell
Vice President, Corporate Development

Allied Critical Metals Announces Intent to List on the TSX Venture ExchangeApril 29, 2026 7:30 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to report that it has applied to list its common shares on the TSX Venture Exchange ("TSX-V") as a Tier 1 mining issuer. Roy Bonnell, CEO of Allied, stated: "We believe that a TSX Venture listing will provide us with improved access to capital markets as we focus on generating shareholder value by unlocking the potential of the Borralha Tungsten Project and Vila Verde Tungsten Project. We look forward to enhancing our capital markets profile by increasing our investor relations efforts and achieving our strategic objectives."The listing application is subject to review by the TSX-V and satisfaction of applicable listing requirements.The Company also hereby announces the grant of 2,500,000 stock options (the "Options") at an exercise price of $2.32 per common share expiring after five years and 1,000,000 restricted share units ("RSUs") to directors, officers, employees and consultants of the Company, all vesting immediately pursuant to its omnibus equity incentive plan. The Options and RSUs are subject to a four month hold period in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.About Allied Critical Metals Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalisation of its 100%-owned, past-producing Borralha Tungsten Project and Vila Verde Tungsten Project in northern Portugal. Tungsten is listed as a critical metal by the United States, the EU, and NATO due to its irreplaceable role in defence, engineering, energy, manufacturing, and advanced technologies. ON BEHALF OF THE BOARD OF DIRECTORS "Roy Bonnell"
Roy Bonnell
CEO and DirectorFor further information or investor relations inquiries, please contact:Dave Burwell
Vice President, Corporate Development
Email: daveb @carromill-7907
Toll Free: 1-888-221-0915Please also 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
Facebook: https://www.facebook.com/AlliedCriticalMetals
Instagram: https://www.instagram.com/alliedcriticalmetals The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding Forward-Looking InformationThis news release may contain "forward-looking information" ("FLI") within the meaning of applicable Canadian securities laws. FLI in this release includes, without limitation, statements regarding the Company's application to list its shares on the TSX-V, the anticipated benefits of a TSX-V listing, and the Company's investor relations efforts and strategic objectives. Such FLI is identified by, among other things, words such as "plans", "expects", "is expected", "aims", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "potential", "target", "opportunity", "may", "could", "would", "might", "will" and similar terminology, as well as statements regarding outcomes that "will", "should" or "would" occur. Such FLI should be considered carefully, and the reader should not place undue reliance thereon. FLI is based on certain assumptions and is subject to a number of risks and uncertainties, including, without limitation, that the Company's application to list on the TSX-V may not be approved, that the Company may not satisfy applicable listing requirements, and those other risk factors described in the Company's most recently filed management's discussion and analysis, all as filed under its SEDAR+ profile at www.sedarplus.ca. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note. The Company does not undertake to update any forward-looking information except as required by applicable securities laws.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294811
Original: Allied Critical Metals Announces Intent to List on the TSX Venture Exchange

Allied Critical Metals Announces Transformative U.S.$40 Million Financing Package to Fast-Track Tungsten Concentrates ProductionApril 24, 2026 7:30 AM
NewsfileHighlights:Strategic investment of U.S.$40 million comprised of U.S.$25 million equity financing and U.S.$15 million in project financing for the Vila Verde Pilot Plant.Allied Critical Metals is fully funded to achieve initial production at the Vila Verde Pilot Plant and meet its stated objectives over the next 12 months.Targeting the fourth quarter of 2026 for first tungsten concentrate production from the Vila Verde Pilot Plant.Off-Take Agreement for 50% of tungsten concentrate production from the Vila Verde Pilot Plant secured with a 2026 floor price of U.S.$1,000/mtu. Off-Take Agreement provides flexibility for governmental agencies, including the United States Department of War and the Portuguese Ministry of Defence, to purchase tungsten concentrates from the Company.Vancouver, British Columbia--(Newsfile Corp. - April 24, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce a non-brokered private placement offering of common shares at a price of $2.05 per share (the "Offering") with an existing strategic investor (the "Existing Strategic Investor") and a new strategic investor (the "New Strategic Investor", collectively the "Strategic Investors") for gross proceeds of U.S.$25 million. In addition to the Offering, the Existing Strategic Investor has also agreed to provide the Company with U.S.$15 million in project financing to build the Company's Villa Verde pilot project (the "Pilot Plant") and has entered into an off-take agreement (the "Off-Take Agreement") with the Company for 50% of the tungsten concentrates produced at the Pilot Plant. The Off-Take Agreement is subject to a floor price of U.S.$1,000/mtu for the calendar year 2026, subject to customary price revisions."We are pleased to announce that we have entered into a transformative financing package that will not only fast-track our production of tungsten concentrates but also solidify our balance sheet. The Pilot Plant at Vila Verde is on track this year to bring online tungsten concentrates to a global market that is starved for the metal," commented Roy Bonnell, Chief Executive Officer of the Company. "Securing two strategic investors validates our strategy of fast-tracking tungsten concentrate production and enables us to be fully funded until the mine construction of the Borralha Tungsten Project, both of which are significant milestones for our Company. In a world where tungsten is a precious resource and with pricing is above U.S.$3,000/mtu, this financing is strong support for our plan to fast-track tungsten concentrate production." Equity Offering TermsThe Offering will be comprised of common shares of the Company (the "Shares" and each, a "Share") issued at a price equal to the 10-day volume weighted average trading price of the Shares on the Canadian Securities Exchange (the "CSE") at the date of issuance (the "Price"), being $2.05 per Share. The number of Shares to be issued will be issued in accordance with the policies of the CSE. The Shares will be subject to the hold periods required by applicable securities laws. The New Strategic Investor will invest U.S.$15 million of the Offering, subject to due diligence and other customary closing conditions. The Existing Strategic Investor has agreed to back-stop the entire Offering with the first tranche of U.S.$10 million closing immediately, subject to approval of the CSE, and the remaining U.S.$15 million of the Offering closing by July 17, 2026.The Company intends to use the net proceeds of the Offering for the development of the Pilot Plant, ongoing exploration and development activities on the Borralha Tungsten Project and for additional working capital.The Offering is subject to approval of the CSE.Vila Verde Pilot Plant - Project Finance TermsPursuant to a binding agreement dated April 24, 2026, the Existing Strategic Investor has agreed to provide a project financing facility (the "Facility") to the Company either in the form of a bond issue or as a senior secured term loan facility in the aggregate principal amount of U.S.$15 million for a term of five years to finance the construction and expenses of the Pilot Plant. The Facility bears interest of the aggregate of 2.5% per annum and the prevailing term secured overnight financing rate ("SOFR") payable, either quarterly or semi-annually on the last day of each interest period, in arrears. The Facility also bears a 1% per annum commitment fee on the unutilized and uncanceled portion of the Facility. The Company will also pay an arrangement fee equal to 0.5% of the Facility. The Facility is secured by the assets that are comprised of the Pilot Plant, excluding the mineral concessions of the Vila Verde Tungsten Project. The Company expects first drawdown under the Facility to occur in the third quarter of 2026.Vila Verde Pilot Plant - Off-Take Agreement Pursuant to the terms of the Off-Take Agreement, the Company has agreed to sell to the Existing Strategic Investor, 50% of the tungsten concentrates produced at the Pilot Plant based on its current license for production of 150,000 tonnes per year of ore throughput (the "Product") for a period of five years. In the event that the license increases by up to an additional 150,000 tonnes per year, the Existing Strategic Investor will have the right to purchase 25% of the additional entitlement of the Product on the same terms. In the event that any governmental agencies, including the United States Department of War or the Portuguese Department of Defence, requests the purchase of the Product from the Company, the Existing Strategic Investor has agreed that it will act reasonably in reducing the percentage of Product it will take from the Company. The Off-Take Agreement includes a price floor of U.S.$1,000/mtu for tungsten concentrates produced in 2026.This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws.The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Project are available in the Company's NI 43-101 Preliminary Economic Assessment Technical Report dated April 14, 2026, filed on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.ON BEHALF OF THE BOARD OF DIRECTORS"Roy Bonnell"
CEO and DirectorAdditional information is also available by contacting the Company:Dave Burwell
Vice President, Corporate Development
daveb @carromill-7907
Toll Free: 1-800-221-0915Please also 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/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding Forward-Looking InformationThis news release may contain "forward-looking information" ("FLI") within the meaning of applicable Canadian securities laws. FLI in this release includes, without limitation, statements regarding completion of the Offering; the proposed use of proceeds from the Offering; CSE approval of the Offering; the Facility and the terms thereof; the Offtake Agreement and the terms thereof; and any other activities, events or developments that the Company expects or anticipates will or may occur in the future. Such FLI is identified by, among other things, words such as "plans", "expects", "is expected", "aims", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "potential", "target", "opportunity", "may", "could", "would", "might", "will" and similar terminology, as well as statements regarding outcomes that "will", "should" or "would" occur. Such FLI should be considered carefully, and the reader should not place undue reliance thereon. In addition, reference should also be made to the risk factors listed in the Company's most recently filed management's discussion and analysis and Annual Information Form dated April 24, 2026, all as filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note. The Company does not undertake to update any forward-looking information except as required by applicable securities laws.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294117
Original: Allied Critical Metals Announces Transformative U.S.$40 Million Financing Package to Fast-Track Tungsten Concentrates Production

Allied Critical Metals Files New Technical Report on Previously Announced PEAApril 14, 2026 10:09 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - April 14, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce that it has publicly filed its new technical report entitled "Preliminary Economic Assessment – Borralha Tungsten Project, Parish of Salto, District of Vila Real, Portugal", dated effective April 14, 2026 (the "Technical Report") which supports the results of preliminary economic assessment ("PEA") of the Company's 100% owned Borralha Tungsten Project in northern Portugal previously announced on March 2, 2026 and March 10, 2026. The Technical Report is available under the Company's profile on SEDAR+ at www.sedarplus.ca.About Allied Critical MetalsAllied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalisation of its 100% owned, past-producing Borralha Tungsten Project and Vila Verde Tungsten Project in northern Portugal. Tungsten is listed as a critical metal by the United States, the EU, and NATO due to its irreplaceable role in defence, engineering, energy, manufacturing, and advanced technologies.ON BEHALF OF THE BOARD OF DIRECTORS
"Roy Bonnell"Roy Bonnell
CEO and DirectorFor further information or investor relations inquiries, please contact:Dave Burwell
Vice President, Corporate Development
Email: daveb @carromill-7907
Toll Free: 1-888-221-0915Please also 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/
Facebook: https://www.facebook.com/AlliedCriticalMetals
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 InformationThis news release may contain "forward-looking information" ("FLI") within the meaning of applicable Canadian securities laws. FLI in this release includes, without limitation, statements regarding the Company's Technical Report which comprises a preliminary economic assessment of the Company's Borralha Tungsten Project. Such FLI is identified by, among other things, words such as "plans", "expects", "is expected", "aims", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "potential", "target", "opportunity", "may", "could", "would", "might", "will" and similar terminology, as well as statements regarding outcomes that "will", "should" or "would" occur. Such FLI should be considered carefully, and the reader should not place undue reliance thereon. In addition, reference should also be made to the risk factors listed in the Company's most recently filed management's discussion and analysis, all as filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. Readers are urged to carefully review those risk factors, which are expressly incorporated by reference into this cautionary note. The Company does not undertake to update any forward-looking information except as required by applicable securities laws. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292650
Original: Allied Critical Metals Files New Technical Report on Previously Announced PEA

Allied Critical Metals Intersects Over 200 Metres of Breccia-Hosted Tungsten Mineralization at New Venise Target, Expanding Growth Potential at the Borralha ProjectApril 7, 2026 2:00 AM
NewsfileKey Highlights:Over 200 metres of breccia-hosted tungsten mineralization intersected, indicating an extensive breccia-hosted alteration and mineralization system (true width not yet determined). Mineralized intervals are consistent with the interpreted Venise Breccia geological model.Located approximately 400 metres from the Santa Helena Breccia deposit, which underpins the Company's recently announced PEA mine plan, highlighting near-mine expansion potential.Drillhole intersected zones containing visible wolframite tungsten mineralization, with associated molybdenite and chalcopyrite within quartz-sulphide veining.Observations support the interpreted continuity of a historically recognized breccia system that had not previously been systematically tested using modern exploration methods.Presence of molybdenite and chalcopyrite suggests potential polymetallic mineralization consistent with other breccia systems in the district.Part of a fully funded 20,000-metre drill program targeting resource growth, mine life extension and project scale expansion.Vancouver, British Columbia--(Newsfile Corp. - April 7, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to report drilling has intersected over 200 metres of breccia-hosted tungsten mineralization at the newly defined Venise Breccia target within its 100%-owned Borralha Tungsten Project in northern Portugal. In particular, ongoing drilling at a newly defined target within the historically documented Venise Breccia at the Borralha Tungsten Project has intersected zones of hydrothermal alteration and quartz-sulphide veining containing visible wolframite, molybdenite and chalcopyrite. "These initial results bode very well for our fully funded drilling campaign at the Borralha Project. At the Venise target, we have identified significant mineralization at a second Breccia complex to add to the previously discovered Santa Helena Breccia," commented Roy Bonnell, Chief Executive Officer of the Company. "We are encouraged by these early results and continue to believe the Borralha Project is a world-class tungsten deposit with the possibility of being a meaningful new supply of tungsten in a world where pricing is above U.S.$3,000 per mtu [Source: Fastmarkets; April 3, 2026]."These initial results represent an important step in evaluating the potential of previously underexplored breccia-hosted mineralization systems at Borralha, located approximately 400 metres from the Santa Helena Breccia deposit that underpins the Company's recent initial Preliminary Economic Assessment of the Borralha Tungsten Project ("PEA") announced first on March 2, 2026 and again with more information on March 10, 2026. The identification of visible tungsten mineralization supports the Company's strategy to expand its resource base and reinforces the potential for additional breccia-hosted mineralization within the broader project area. While these observations are encouraging, further drilling and analytical results are required to confirm the scale and continuity of mineralization. This new target supports the Company's strategy to expand the project's resource base and reinforces the Borralha Project's potential as a district-scale tungsten system of strategic importance to European and NATO-aligned supply chains. The Venise Breccia is not included in the Company's current mineral resource estimate ("MRE") or the PEA mine plan. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be classified as mineral reserves, and there is no certainty that the PEA will be realized. Drilling remains in progress and is advancing toward the interpreted central portion of the breccia body. For more information on the MRE, please see the Company's news release dated November 19, 2026. For the most recent information on the PEA, please see the Company's news release dated March 10, 2026. Figure 1 (above): Cross-section showing drillhole Bo_BV_01b intersecting the interpreted Venise Breccia envelope, with observed mineral indicators based on visual logging and pXRF readings. True widths are unknown. Mineral indicators observed in drill core should not be interpreted as grade or continuity of mineralization.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/291402_e02250ad542b0baf_001full.jpgRoy Bonnell, CEO & Director of Allied, commented: "Intersecting visible tungsten mineralization within the historically documented Venise Breccia represents a significant step in validating the broader breccia-hosted potential at the Borralha Project. Located approximately 400 metres from the Santa Helena Breccia deposit, which underpins our recently announced initial PEA, this result reinforces our view that the Borralha Project hosts multiple breccia systems capable of supporting meaningful resource growth and mine life extension.While these are early-stage observations, the scale and continuity of alteration and mineralization encountered to date are highly encouraging and support our strategy of systematically evaluating historically recognized but underexplored targets using modern exploration techniques. As we advance our fully funded 20,000-metre drill program, we believe the Borralha Project has the potential to evolve into a district-scale tungsten system of strategic importance for Europe and NATO-aligned supply chains."Figure 2 (above): Representative drill core from hole Bo_BV_01b showing coarse visible wolframite tungsten mineralization (dark) with associated chalcopyrite (brassy yellow) and locally molybdenite. Depths shown are downhole measurements and not true widths. Core size abbreviations: PQ = ~85 mm diameter; HQ = ~63.5 mm diameter.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/291402_e02250ad542b0baf_002full.jpgFigure 3 (above): Drill core from hole Bo_BV_01b/26 showing repeated occurrences of quartz-sulphide veining with visible wolframite tungsten mineralization (highlighted), demonstrating the distribution and continuity of mineralization along the downhole interval.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/291402_e02250ad542b0baf_003full.jpgFigure 4 (above): Plan view showing drillhole Bo_BV_01b intersecting the interpreted Venise Breccia target envelope, located approximately 400 m northwest of the Santa Helena Breccia. Mineralization shown is based on visual logging and semi-quantitative pXRF readings.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/291402_e02250ad542b0baf_004full.jpgGeological ContextThe Venise Breccia is a new target also located within the Company's 100%-owned Borralha Tungsten Project and is approximately 400 metres northwest to and outside of the planned mining area defined in the Company's initial PEA mine design for the Santa Helena Breccia at Borralha, as described in the Company's most recent new release dated March 10, 2026.The breccia system at Venise was historically recognized in underground workings and documented in geological studies conducted during the 1970s and 1980s, including academic work describing hydrothermal breccia-hosted tungsten mineralization. However, these zones have not previously been systematically tested using modern exploration methods.Recent drilling at the Venise Breccia has intersected extensive zones of hydrothermal alteration and quartz-sulphide veining containing visible wolframite tungsten mineralization, locally associated with molybdenite and chalcopyrite. These observations are consistent with historical interpretations and support the Company's geological model of a broader breccia-hosted mineralizing system within the Borralha Project district area.Historically, mining at the Borralha Project focused primarily on high-grade tungsten veins extracted using underground methods, while breccia-hosted mineralization received comparatively limited attention due to mining and processing constraints at the time. Modern exploration techniques and bulk mining approaches now enable the Company to re-evaluate these systems and assess their potential contribution to future resource growth.While historical geological descriptions referenced herein have not been verified by the Company's Qualified Person and should not be relied upon, current drilling results provide encouraging indications that these previously underexplored breccia systems may represent a meaningful opportunity for resource expansion within the broader project area.Drillhole ObservationsPreliminary geological logging of the ongoing drillhole has identified:zones of strong hydrothermal alteration Quartz-sulphide veining; occurrences of visible wolframite, molybdenite and chalcopyrite.These observations are considered encouraging geological indicators consistent with historical descriptions of mineralization in the area. Visual appearance of mineralization abundance should not be considered a substitute for laboratory analysis. The presence of visible mineralization is not necessarily indicative of overall grade or width, and no quantitative estimate of grade has been made based on visual observations; pXRF readings are indicative only and are not a substitute for laboratory assays.Exploration StrategyThe Venise Breccia forms part of Allied's broader strategy to evaluate historically recognized but underexplored breccia-hosted mineralization styles within the Borralha mining concession. The Company believes that combining historical geological knowledge with modern exploration techniques and drilling provides an opportunity to reassess mineralized zones that were not fully evaluated during the historical mining period.Additional drilling results and laboratory assays from the Venise target will be released once analytical results are received and validated.Ongoing Growth StrategyThe current initial PEA is based only on the Santa Helena Breccia deposit and an initial 11-year production plan, as described in the Company's most recent news release dated March 10, 2026.The Company's fully funded 20,000-metre drill program is underway and is targeting:expansion of the current mineral resource estimate for the Borralha Project;conversion of inferred mineral resources into higher-confidence categories;potential extension of mine life beyond the initial plan; andevaluation of throughput optimization and future project scale growth.The exploration targets and potential implications for mineral resource expansion, conversion, or future mine life extension at the Borralha Project are conceptual in nature. There has been insufficient drilling, geological modelling, and analysis to define a mineral resource at the Venise Breccia, and it is uncertain whether further exploration will result in such targets being delineated as mineral resources. Any reference to possible future resource or mine-life impacts is forward-looking and subject to additional drilling, assay results, and completion of further technical studies.Qualified PersonThe scientific and technical information in this release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM QMR (#703197), Vice-President Exploration of Allied Critical Metals, a Qualified Person under National Instrument 43-101. Mr. Arezes is not independent of Allied Critical Metals Inc. as he is an officer of the Company. The Qualified Person has verified the data disclosed in this news release.Options and RSUsThe Company also hereby announces the grant of 500,000 stock options (the "Options") at an exercise price of $1.73 per common share and 500,000 restricted share units ("RSUs") vesting immediately to a director of the Company pursuant to its omnibus equity incentive plan. The Options and RSUs are subject to a four month hold in accordance with the policies of the Canadian Securities Exchange and applicable securities laws.About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Project are available in the Company's technical report (the "Technical Report") prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") entitled "Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal", dated effective December 30, 2025, which is published on the Company's website at www.alliedcritical.com and under its profile on SEDAR+ at www.sedarplus.ca.Acknowledgment of Historical ContributionsThe Company acknowledges Professor Fernando Noronha for his long-standing academic work and for his role in preserving and advancing geological knowledge of the Borralha mining district and also recognizes the contributions of mining engineer Adriano Barros, who was instrumental in early exploration activities at Borralha and in advancing the understanding of mineralization in the district. The Company further acknowledges the local community and former Borralha miners, whose historical knowledge and records have provided valuable context for ongoing exploration activities.ON BEHALF OF THE BOARD OF DIRECTORS"Roy Bonnell"
CEO and DirectorAdditional information is also available by contacting the Company:Dave Burwell
Vice President, Corporate Development

Canadian Securities Exchange Reports February 2026 Performance FiguresMarch 18, 2026 1:00 PM
NewsfileToronto, Ontario--(Newsfile Corp. - March 18, 2026) - The Canadian Securities Exchange ("CSE" or "the Exchange") today announced market statistics for February 2026.February 2026 Operating StatisticsTrading volume of CSE listed securities totaled 1.5 billion shares;Trading value of CSE listed securities was $608 million;CSE issuers completed 88 financings that raised an aggregate $233 million; andThe CSE welcomed listings from six new companies, bringing total listed securities to 740 as at February 28, 2026."Investors are continuing to show strong interest in the mining and precious metals sector over the first 2 months of the year," said Richard Carleton, CEO of the CSE. "During the month of February, we were pleased to welcome the first three companies to complete IPOs in Canada in 2026. Given supportive market conditions, including very strong precious metals prices, we are optimistic that new listings activity will remain high in the months ahead. We also expect the CSE to maintain its track record of attracting the most corporate IPOs among all Canadian exchanges."What's On at the CSEThe final issue of Canadian Securities Exchange Magazine is available. It focuses on the mining sector and profiles 10 entrepreneurial junior mining companies with exciting projects: Allied Critical Metals Inc. (ACM), Apex Critical Metals Corp. (APXC), Ares Strategic Mining Inc. (ARS), Avanti Gold Corp. (AGC), Canadian Copper Inc. (CCI), Lion Copper and Gold Corp. (LEO), Maxus Mining Inc. (MAXM), Myriad Uranium Corp. (M), Pacifica Silver Corp. (PSIL), and Volta Metals Ltd. (VLTA). The issue also features a Q&A with James Black, the CSE's Vice President of Marketing and Communications, who discusses his role at the CSE and the broader evolution of the Exchange. While this marks the last issue of the magazine, the CSE remains committed to telling the stories of its issuers through its blog and video platforms, while continuing to explore new formats to share them.New Listings in February 2026Maximus Metals Inc. (MM)
Redwood AI Corp. (AIRX)
Bahia Metals Corp. (BMT)
ReVolve Renewable Power Corp. (REVV)
Beaumont Exploration Corp. (BEAU)
North America Home Finance Inc. (NAHF)About the Canadian Securities Exchange:The Canadian Securities Exchange is a rapidly growing exchange invested in working with entrepreneurs, innovators and disruptors to access public capital markets in Canada. The Exchange's efficient operating model, advanced technology and competitive fee structure help its listed issuers of all sectors and sizes minimize their cost of capital and enhance global liquidity.Our client-centric approach and corresponding products and services ensure businesses have the support they need to confidently realize their vision.The CSE offers global investors access to an innovative collection of growing and mature companies. STAY CONNECTED WITH THE CSE
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416-367-7360
richard.carleton@thecse.comTo view the source version of this press release, please visit https://www.newsfilecorp.com/release/289010
Original: Canadian Securities Exchange Reports February 2026 Performance Figures

CORRECTION FROM SOURCE: Allied Critical Metals Further Highlights Rapid Payback, Capital Efficiency and Infrastructure from Borralha PEAMarch 10, 2026 9:14 AM
NewsfileAfter-tax NPV(8%) of $473M (USD $346.6M) and 2.2-year payback from start of production with IRR of 48.8% at USD $1,000/mtu WO3Key Highlights: Additional Payback Metrics: Payback[1] of approximately 2.2 years from commencement of commercial production corresponding to approximately 4.2 years from start of construction under the medium case of USD $1,000/mtu WO3. [2]Capital Efficient Development: Initial capital cost[3] at the Borralha Project of approximately $125.0 million (USD $91.5 million), with a compact infrastructure layout designed to support efficient underground mining and processing operations.Strong Annual Cash Flow Generation: Average annual revenue of approximately $252.52 million (USD $184.89 million), average annual EBITDA of approximately $142.18 million (USD $104.10 million), and average annual free cash flow of approximately $96.28 million (USD $70.49 million) over the initial mine plan at USD $1,000/mtu WO3.[4]Integrated Infrastructure Design: Project infrastructure includes planned hydro electric power connection, water supply and recycling systems, road access, and paste backfill integration to support operations while minimizing environmental footprint. Robust Core PEA Economics Maintained: Previously announced after-tax NPV(8%)[5] of $473.4 million (USD $346.6 million) and IRR[6] of 48.8% at USD $1,000/mtu WO3. Significant Upside Leverage: After-tax IRR of 78.4% and NPV(8%) of $963.8 million (USD $706.4 million) at USD $1,500/mtu WO3.Resource Growth Underway: Fully funded 20,000-metre drill program continues to target resource expansion, confidence conversion and potential mine life extension beyond the initial 11-year production plan, targeting resource expansion and confidence conversion.All figures in North American decimal nomenclature.
All amounts in Canadian dollars unless stated otherwise.4Vancouver, British Columbia--(Newsfile Corp. - March 10, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to provide additional economic and technical detail from the recently announced Preliminary Economic Assessment ("PEA") for its 100%-owned Borralha Tungsten Project (the "Borralha Project") in northern Portugal. The Borralha Project's previously announced PEA economics remain unchanged. This news release is an amending and restating news release clarifying and correcting the immediately preceding news release dated March 9, 2026 to present figures consistently using North American decimal nomenclature rather than European comma nomenclature. In addition, Table 3 was updated to address rounding errors, translation errors and currency conversion using $1.3658 CAD/USD and Table 5 was updated to clarify use of USD $M. Roy Bonnell, CEO & Director of Allied, commented: "Following the release of our initial PEA for the Borralha Project, we received strong investor interest in additional project-level detail. This supplementary disclosure highlights the Project's capital efficiency, strong annual cash generation and well-developed infrastructure platform. Importantly, the underlying economics of the PEA remain unchanged, while the additional payback presentation provides another useful reference point for investors evaluating project returns and the strong leverage the Borralha Project has to tungsten prices."This additional disclosure provides greater clarity on Borralha Project's capital efficiency, expected cash flow generation and rapid capital recovery profile. The PEA outlines a capital-efficient underground tungsten development project within the European Union, demonstrating strong economic returns across a range of tungsten price assumptions and significant leverage to current market prices. The estimated capital expenditures for the build out of the Borralha Project are the result of advanced project infrastructure that a planned hydro-electric power connection, water supply and recycling systems, road access, and paste backfill integration to support operations while minimizing environmental footprint.The PEA continues to demonstrate a technically robust and capital-efficient underground tungsten development project within the European Union. As previously announced, the PEA was evaluated under three pricing frameworks: the Base case of $962/mtu WO3 (USD $704/mtu WO3), $1,365/mtu WO3 (USD $1,000/mtu WO3), and $2,049/mtu WO3 (USD $1,500/mtu WO3), while mine design and cut-off grade selection were developed using a conservative tungsten price assumption of $900/mtu WO3 (USD $659/mtu WO3). The Company is providing the additional metrics below to facilitate investor understanding of project capital intensity, cash flow generation and payback presentation. For additional information, please see the news release dated March 2, 2026.For additional reference, the Company is presenting payback under two different measurement bases. The previously disclosed payback metrics were measured from the start of construction (SC), consistent with standard technical study practice. To facilitate comparison with industry benchmarks, the Company is also providing indicative payback measured from the commencement of commercial production (CCP).Table 1 — Economic Results (After-Tax) ScenarioPrice1NPV (8%)2IRR3Payback SC4Payback CCP4Medium$1,365/mtu
(USD $1,000/mtu)$473.4M
(USD $346.6M)48.8%2.2 years4.2 yearsBase$962/mtu
(USD $704/mtu)$182.7M
(USD $134.0M)27.2%3.8 years5.8 yearsHigh$2,049/mtu
(USD $1,500/mtu)$963.8M
(USD $706.4M)78.4%1.2 years3.2 years Notes:Prices based on Argus Media Group price forecasts. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. M = million.IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.Payback is a Non-GAAP measure. see notes below for additional information regarding payback.Payback measured from the start of construction reflects recovery of initial capital over the full development and operating timeline, while payback measured from the start of commercial production excludes the construction phase and is presented for comparative reference only.The results highlight significant sensitivity to tungsten price while maintaining positive economics under conservative long-term assumptions.In the Base Case scenario, tungsten (WO3) represents approximately 96% of project NPV, with minor contributions from copper (~3%) and tin (

Allied Critical Metals Further Highlights Rapid Payback, Capital Efficiency and Infrastructure from Borralha PEAMarch 9, 2026 7:07 PM
NewsfileAfter-tax NPV(8%) of $473M (US$346.6M) and 2.2-year payback from start of production with IRR of 48.8% at US$1,000/mtu WO3Key Highlights:Additional Payback Metrics: Payback1 of approximately 2.2 years from commencement of commercial production corresponding to approximately 4.2 years from start of construction under the medium / US$1,000/mtu WO32 case.Capital Efficient Development: Initial capital cost3 of approximately $124.2 million (USD $91 million), with a compact infrastructure layout designed to support efficient underground mining and processing operations.Strong Annual Cash Flow Generation: Average annual revenue of approximately $252,517 million (US$184,886 million), average annual EBITDA of approximately $142,181 million (US$104,101 million), and average annual free cash flow of approximately $96,279 million (US$70,493 million) over the initial mine plan at US$1,000/mtu WO3.4Integrated Infrastructure Design: Project infrastructure includes planned hydro electric power connection, water supply and recycling systems, road access, and paste backfill integration to support operations while minimizing environmental footprint.Robust Core PEA Economics Maintained: Previously announced after-tax NPV(8%)5 of $473.4M (US$346.6 million) and IRR6 of 48.8% at US$1,000/mtu WO3 remain unchanged. Significant Upside Leverage: After-tax IRR of 78.4% and NPV(8%) of $963.8 million (USD $706.4 million) at USD $1,500/mtu WO3.Resource Growth Underway: Fully funded 20,000-metre drill program continues to target resource expansion, confidence conversion and potential mine life extension beyond the initial 11-year production plan, targeting resource expansion and confidence conversion.All amounts in Canadian dollars unless stated otherwise.4Vancouver, British Columbia--(Newsfile Corp. - March 9, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to provide additional economic and technical detail from the recently announced Preliminary Economic Assessment ("PEA") for its 100%-owned Borralha Tungsten Project ("Borralha" or the "Project") in northern Portugal. The Project's previously announced PEA economics remain unchanged.Roy Bonnell, CEO & Director of Allied, commented: "Following the release of our initial Borralha PEA, we received strong investor interest in additional project-level detail. This supplementary disclosure highlights the Project's capital efficiency, strong annual cash generation and well-developed infrastructure platform. Importantly, the underlying economics of the PEA remain unchanged, while the additional payback presentation provides another useful reference point for investors evaluating project returns and the strong leverage Borralha has to tungsten prices."This additional disclosure provides greater clarity on Borralha's capital efficiency, expected cash flow generation and rapid capital recovery profile. The Borralha PEA outlines a capital-efficient underground tungsten development project within the European Union, demonstrating strong economic returns across a range of tungsten price assumptions and significant leverage to current market prices.The Borralha PEA continues to demonstrate a technically robust and capital-efficient underground tungsten development project within the European Union. As previously announced, the PEA was evaluated under three pricing frameworks: the Base case of $962/mtu WO3 (US$704/mtu WO3), $1,365/mtu WO3 (US$1,000/mtu WO3), and $2,049/mtu WO3 (US$1,500/mtu WO3), while mine design and cut-off grade selection were developed using a conservative tungsten price assumption of $900/mtu WO3 (US$659/mtu WO3). The Company is providing the additional metrics below to facilitate investor understanding of project capital intensity, cash flow generation and payback presentation.For additional reference, the Company is presenting payback under two different measurement bases. The previously disclosed payback metrics were measured from the start of construction (SC), consistent with standard technical study practice. To facilitate comparison with industry benchmarks, the Company is also providing indicative payback measured from the commencement of commercial production (CCP).Table 1 - Economic Results (After-Tax) ScenarioPrice1NPV (8%)2IRR3Payback SC4Payback CCP4Medium$1,365/mtu
(USD $1,000/mtu)$473.4M
(USD $346.6M)48.8%2.2 years4.2 yearsBase$962/mtu
(USD $704/mtu)$182.7M
(USD $134.0M)27.2%3.8 years5.8 yearsHigh$2,049/mtu
(USD $1,500/mtu)$963.8M
(USD $706.4M)78.4%1.2 years3.2 years 
Notes:Prices based on Argus Media Group price forecasts. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. M = million.IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.Payback is a Non-GAAP measure. see notes below for additional information regarding payback.Payback measured from the start of construction reflects recovery of initial capital over the full development and operating timeline, while payback measured from the start of commercial production excludes the construction phase and is presented for comparative reference only.The results highlight significant sensitivity to tungsten price while maintaining positive economics under conservative long-term assumptions.In the Base Case scenario, tungsten (WO3) represents approximately 96% of project NPV, with minor contributions from copper (~3%) and tin (

Allied Critical Metals Announces Appointment of Hon. Marco Mendicino as Strategic AdvisorMarch 4, 2026 7:30 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 4, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce the appointment of the Honourable Marco Mendicino as a Strategic Advisor to the Company. The Honourable Marco Mendicino is Senior Counsel and Strategic Advisor to the firm at Cassels, Brock & Blackwell LLP. A former federal prosecutor, Cabinet Minister, and Chief of Staff to Prime Minister Mark Carney, he brings two decades of leadership in the law, government and public policy.Mr. Mendicino led the Prime Minister's Office through a national election and one of the most significant transitions of government in recent decades, advancing major projects legislation, working with Premiers and Indigenous leaders, and closely advising the Prime Minister while at the White House, NATO, and G7.Elected three times as the Member of Parliament for Eglinton-Lawrence, Mr. Mendicino served in Cabinet as Minister of Immigration and Minister of Public Safety and chaired the Five Eyes on behalf of Canada.A Senior Fellow at the University of Toronto's Munk School, he contributes to national conversations on governance and the rule of law and frequently appears in the media as a commentator."We are excited to add Marco Mendicino to our team as a Strategic Advisor. Mr. Mendicino brings decades of business, legal and political expertise to Allied," commented Roy Bonnell, CEO & Director of Allied. "Tungsten is a strategic asset globally and we will benefit from Mr. Mendicino's global view on how to best develop our assets for the benefit of all shareholders.""I am very pleased to join the team at Allied. Their tungsten assets in Portugal are strategically located in a NATO member state and have historically been very important assets from a global security perspective. Seeing these past producing mines come back into production will be a major development from a NATO security perspective," commented Honourable Marco Mendicino, Strategic Advisor to the Company. "We will work closely with all stakeholders to ensure these assets are developed for the benefit of Portugal and its allies."Mr. Mendicino joins a team that also includes the appointment of Major General (Ret.) James A. "Spider" Marks and former U.S. Secretary of Homeland Security Kirstjen M. Nielsen as Directors of Allied's wholly owned U.S. subsidiary, Allied Critical Metals USA Inc. ("Allied USA"). Allied USA is dedicated to the importation, marketing and sales of tungsten into the United States.About Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Project are available in the Company's NI 43-101 Technical Report dated December 30, 2025, filed on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.ON BEHALF OF THE BOARD OF DIRECTORS
"Roy Bonnell"Roy Bonnell
CEO and DirectorFor further information or investor relations inquiries, please contact:Dave Burwell
Vice President, Corporate Development
Email: daveb @carromill-7907
Toll Free: 1-888-221-0915Please also 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/
Facebook: https://www.facebook.com/alliedcriticalmetals/
Instagram: https://www.instagram.com/alliedcriticalmetals/The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Cautionary Statement Regarding Forward-Looking InformationThis 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 filings 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 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 most recently filed management's discussion and analysis, all as 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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286145
Original: Allied Critical Metals Announces Appointment of Hon. Marco Mendicino as Strategic Advisor

Allied Critical Metals Delivers Robust Initial PEA at the Borralha ProjectMarch 2, 2026 2:00 AM
NewsfileAfter-Tax NPV(8%) of $473M and IRR of 49% at USD $1,000/mtu WO3; Fully funded 20,000m Drill Program Underway to Expand Scale of the Borralha ProjectKey Highlights:Robust Economics: After-tax NPV(8%)1 of $473.4 million (USD $346.6 million) and IRR2 of 48.8% at USD $1,000/mtu WO33.Capital Efficient Development: Initial capital4 of approximately $124.2 million (USD $91 million) with 4.2-year payback5.Strong Base Case: After-tax IRR2 of 27.2% and NPV(8%)1 of $182.7 million (USD $134.0 million) at ~USD $704/mtu WO3 (Argus long-term forecast).Significant Upside Leverage: After-tax IRR2 of 78.4% and NPV(8%)1 of $963.8 million (USD $706.4 million) at USD $1,500/mtu WO3.Resource Growth Just Beginning: Fully funded 20,000-metre drill program underway at the Borralha Project targeting resource expansion and potential mine life extension well beyond the initial 11-year mine plan.Vila Verde Project: PEA does not include the Company's other tungsten project at Vila Verde.All amounts in Canadian dollars unless stated otherwise.Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce the results of its initial Preliminary Economic Assessment ("PEA") for its 100%-owned Borralha Tungsten Project ("Borralha" or the "Project") in northern Portugal."The completion of the PEA marks another important milestone for the Company. In addition to the significant tailwinds provided by the significant increase in the price of tungsten, which has surged to more than USD $1,900/mtu [Source: Fastmarkets], we are very pleased to see have been able to receive support from idD Portugal Defence, the Portuguese public entity overseeing the nation's Defence Industry, which has endorsed the Borralha Project as a strategic initiative of national importance. We have also received a favourable Environmental Impact Declaration, subject to standard regulatory conditions (Declaração de Impacte Ambiental Favorável Condicionada – "DIA") from the Portuguese Environment Agency (Agência Portuguesa do Ambiente, I.P. - APA)," commented Roy Bonnell, CEO and Director of Allied. "We could not be more pleased with the considerable advancement of the Borralha Project and look forward to continuing to more progress at the Borralha Project and the Vila Verde Project, which are both strategic critical mineral tungsten assets well positioned within the EU."The PEA outlines a technically robust and capital-efficient underground tungsten development project within the European Union, delivering strong economics across a range of pricing assumptions. Importantly, the study reflects only the Santa Helena Breccia deposit and an initial 11-year mine plan. The Company is committed to long term expansion of the current resource estimate and as such has recently commenced a fully funded 20,000-metre drill program designed to expand the current resource and enhance long-term project scale.Initial PEA Economic Summary (After-Tax) for the Borralha ProjectMedium Case – USD $1,000/mtu WO3NPV(8%)1IRR2Payback3$473.4 million448.8%4.2 years(USD$ 346.6 million)

Base Case – Argus Long-Term Forecast (US$677 to $763/mtu WO3; ~USD $704/mtu WO3 Average)NPV(8%)1IRR2Payback3$182.7 million427.2%5.8 years(USD$ 134.0 million)

High Case – USD $1,500/mtu WO3NPV(8%)1IRR2Payback3$963.8 million478.4%3.2 years(USD$ 706.4 million)

 Notes:
1. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV.
2. IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
3. Payback is a Non-GAAP measure. see notes below for additional information regarding payback.
4. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.Mine design and cut-off grade selection were developed using a conservative USD $659/mtu WO3 assumption. Recent reported tungsten market prices have reached approximately USD $1,998/mtu [Source: Fastmarkets; February 27, 2026], demonstrating meaningful leverage to current market conditions. Initial Mine Plan – Strong Base with Expansion PotentialMine life: 11 yearsAverage annual production: ~1,708 tonnes WO3Peak annual production: 2,388 tonnes WO3Processing rate: 1.4 million tonnes per annumAverage mill feed grade: 0.20% WO3All-in sustaining cost (AISC)6 estimate: ~USD $303/mtu WO3 (CAD $413.84/mtu WO3)The PEA mine plan incorporates Measured, Indicated and Inferred Mineral Resources from the Santa Helena Breccia deposit. Mineralization remains open along strike and at depth.The ongoing 20,000-metre drill program is targeting:Expansion of the current 13.0 Mt Measured & Indicated resourceConversion of Inferred resources into higher-confidence categoriesPotential extension of mine life beyond 11 yearsEvaluation of throughput optimization and scale growthThe Company views this initial PEA as a foundational step in what is expected to be a multi-stage growth strategy at the Borralha Project.Roy Bonnell, CEO & Director commented, "This initial PEA confirms the Borralha Project as a high-return, capital-efficient tungsten development project in a Tier-1 European jurisdiction. At USD $1,000 per mtu (significantly below current reported market pricing) the Borralha Project generates a 48.8% after-tax IRR with modest initial capital of approximately USD $91 million.Importantly, this PEA reflects only the Santa Helena Breccia and an initial 11-year mine plan. With future exploration work and the 20,000 meters of drilling currently underway, we are focused on expanding resources, extending mine life and enhancing overall project scale. We believe we are at the beginning of unlocking the Borralha Project's full potential.Combined with a favourable Environmental Impact Declaration, we believe that this PEA opens the door to project level financing for both our industrial scale plant and our pilot plant at the Vila Verde Project."IntroductionThis initial PEA contemplates development of an underground mining operation at the Santa Helena Breccia deposit within Borralha with a nominal processing capacity of 1.4 million tonnes per annum, utilizing conventional crushing, grinding and gravity concentration to produce a saleable Wolframite concentrate grading approximately 65% WO3.The Borralha Project has received a favourable Environmental Impact Declaration ("DIA"), materially advancing permitting and reducing development risk relative to many global tungsten projects. Economic SummaryThis initial PEA was developed using three pricing frameworks: (i) Low/Base Case: Argus long-term forecast (variable annually) averaging approx. USD $704 per mtu WO3; (ii) USD $1,000 per mtu WO3; and (iii) USD $1,500 per mtu WO3.Mine design and cut-off grade selection were developed using a conservative price assumption of USD $659 per mtu WO3.Table 1 — Economic Results (After-Tax) ScenarioPrice1NPV (8%)2IRR3Payback4Medium$1,365/mtu
(USD $1,000/mtu)$473.4M
(USD $346.6M)48.8%4.2 yearsBase$962/mtu
(USD $704/mtu)$182.7M
(USD $134.0M)27.2%5.8 yearsHigh$2,049/mtu
(USD $1,500/mtu)$963.8M
(USD $706.4M)78.4%3.2 years 
Notes:
1. Prices based on Argus Media Group price forecasts. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.
2. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV. M = million.
3. IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
4. Payback is a Non-GAAP measure. see notes below for additional information regarding payback.The results highlight significant sensitivity to tungsten price while maintaining positive economics under conservative long-term assumptions.For reference, current reported tungsten market prices are materially above the $1,365 per mtu (USD $1,000 per mtu) sensitivity case presented herein, reaching recently $2,729 per mtu (USD $1,998 per mtu) as at February 27, 2026 [Source: Fastmarkets.]1. Project OverviewThe Borralha Tungsten Project is located in the parish of Salto, municipality of Montalegre, district of Vila Real, Portugal. The project comprises a continuous exploitation concession area of approximately 382.48 hectares (3.82 km²). This initial PEA has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and is based on the updated Mineral Resource Estimate for the Santa Helena Breccia, effective December 30, 2025. See Company's current technical report on Borralha (the "Technical Report") entitled "Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal", dated effective December 30, 2025, which is published on the Company's website at www.alliedcritical.com and under its profile on SEDAR+ at www.sedarplus.ca.Borralha represents one of the largest undeveloped tungsten resources within the European Union and benefits from gravity-dominant processing, reducing metallurgical risk relative to flotation-dependent systems. The project aligns with European critical raw material supply objectives.2. Mineral Resource EstimateThis initial PEA is based on the updated Mineral Resource Estimate ("MRE" or "2025 MRE") for the Santa Helena Breccia, which were presented in accordance with NI 43-101 in the Company's current Technical Report.Mineral Resources are reported in situ and undiluted and do not incorporate modifying factors such as mining dilution, mining recovery, metallurgical recovery, capital costs, operating costs, or economic analysis. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.MRE Cut-off Grade: 0.09% WO3The cut-off grade was selected based on reasonable prospects for eventual economic extraction under conceptual underground mining and gravity-dominant processing assumptions, including a very conservative tungsten price of USD$ 550/mtu WO3 and assumed recovery of approximately 80% (for MRE cut-off determination only). The 2025 MRE reflects a material increase in tonnage and geological confidence relative to the previous mineral resource estimate published in March 2024.Under the 2025 MRE, the Santa Helena Breccia has been tested by 41 drill holes and surface trenching over approximately 400 meters of strike length and to depths exceeding 350 meters below surface. Mineralization remains open along strike and at depth.Table 2 — 2025 MRE for Borralha (see also Technical Report for further details)ClassificationTonnes (Mt)Grade (% WO3)Measured + Indicated13.00.21Inferred7.70.18 3. Mining Method and Production Plan3.1 Selected Mining MethodThe planned mining method for the Santa Helena Breccia involves using mostly long-hole open stoping with cemented paste backfill. This method was selected based on: (i) steeply dipping geometry of the breccia-hosted mineralization; (ii) demonstrated geological continuity; (iii) favorable rock mass conditions; (iv) productivity and operating cost advantages; and (v) reduced surface footprint.Drift-and-fill mining is incorporated locally in narrower high-grade zones to enhance resource recovery. Open-pit mining and alternative underground methods were evaluated during the conceptual study stage and were not selected due to environmental constraints, scale suitability, and relative operating efficiency.3.2 Mine Production ScheduleKey operating parameters:Nominal processing rate: 1.4 million tonnes per annumEstimated mine life: approximately 11 yearsTotal life-of-mine processed tonnes: approximately 13.4 million tonnesAverage life-of-mine mill feed grade: approximately 0.20% WO3The production schedule supports consistent mill feed and stable concentrate production throughout the mine life.Table 3 — LoM Totals and AveragesItemAmountMine life (production years shown)11 years (2028–2039)Total ore processed13,436,040 tWeighted average WO3 grade0.203% WO3 (˜0.20%)Total contained WO327,332 tTotal recovered WO3 @ 75%20,499 tAverage annual recovered WO3 @ 75%~1,708 t/y Table 4 — Life-of-Mine Schedule SummaryYearOre Processed (t)Avg. WO3 Grade (%)Recovered WO3 (t)2028876,3040.191,2492029988,0420.201,48220301,387,6240.181,87320311,339,2730.191,90820321,362,1770.181,83920331,373,8560.232,37020341,444,6460.212,27520351,447,0610.222,38820361,236,8860.201,85520371,226,5530.201,8402038585,7010.261,1422039167,9170.22277 3.3 Dilution and Recovery AssumptionsThe mine plan incorporates Measured, Indicated, and Inferred Mineral Resources within a stope optimization framework consistent with long-hole open stoping methods. Applied modifying factors include:Mining dilution: approximately 8% (average between primary and secondary stopes)Mining recovery: approximately 89%~90% for primary stopes~88% for secondary stopesDrift-and-fill: approximately 7.5% dilution and 95% recovery After application of these factors, the projected average life-of-mine mill feed grade is approximately 0.20% WO3. The PEA includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the PEA will be realized.Inferred material represents less than approximately 40% of the life-of-mine stope inventory on a volumetric basis and is predominantly located along the margins and outer extents of the deposit. 4. Metallurgy and Processing 4.1 Metallurgical Test WorkMetallurgical test work completed to date indicates that Santa Helena Breccia mineralization is amenable to gravity-dominant processing. The initial metallurgical program (2023–2024) evaluated crushing, grinding, sulfide flotation, gravimetric concentration, and magnetic separation. Subsequent optimization reduced reliance on flotation by incorporating dense media separation ("DMS") pre-concentration and enhanced gravity recovery. 4.2 Process Flow SheetThe proposed process plant includes:Three-stage crushing to approximately 6 mmDMS pre-concentration on the 6–2 mm fraction (rejecting approximately 40% of mass)Grinding of DMS product and -2 mm fraction to 1 mmGravimetric concentration using spirals and shaking tablesMagnetic and electrostatic separation for final concentrate upgradingFlotation circuit for copper and tin recoveryFiltered tailings with dewatering and partial paste backfill return underground4.3 Recovery and Concentrate GradesPreliminary metallurgical recovery estimates:Tungsten: 75%Copper: ~60%Tin: 30%Expected concentrate specifications:Tungsten concentrate: ~65% WO3Copper concentrate: ~21% CuTin concentrate: ~50% SnSilver credits may partially report to the copper concentrate, subject to further test work confirmation. 5. Infrastructure and Site RequirementsThe Borralha Project benefits from:Regional road accessGrid power availabilityUnderground mining configuration minimizing surface disturbanceFiltered dry-stack tailings conceptClosed-loop water management system 6. Environmental and PermittingIn January 2026, the Portuguese Environment Agency issued a Favourable Environmental Impact Declaration ("DIA") for the Borralha Project, subject to standard regulatory conditions.This milestone confirms environmental acceptability of the proposed development and enables progression to the RECAPE stage and subsequent construction permitting.The Borralha Project aligns with European Union critical raw material strategy and contributes to regional economic development objectives.7. Economic Framework7.1 Pricing FrameworkThe life-of-mine design, cut-off grade selection and production schedule were developed using a conservative tungsten price assumption of USD $659 per metric tonne unit ("mtu") WO3, consistent with the Argus long-term base case forecast. The Base Case economic model applies the Argus high-case long-term forecast on a year-by-year basis, ranging from approximately USD $763 per mtu in 2028 and gradually declining toward approximately USD $677 per mtu by 2040, for an average price of approximately USD $704 per mtu. [Source: Argus Media Group.]This approach maintains a conservative technical design basis while allowing the economic analysis to reflect updated long-term market expectations without re-optimizing mine geometry.Flat price sensitivity scenarios at USD $1,000/mtu and USD $1,500/mtu WO3 are presented for comparative purposes.7.2 Operating Cost SummaryThe Borralha Project is based on conventional underground mining and gravity-dominant processing, resulting in a competitive cost structure.Life-of-mine average operating costs7 are estimated at:US$49 per tonne processedEquivalent to approximately USD $245 per mtu WO3 produced (based on a 0.20% average mill feed grade and 75% metallurgical recovery)Operating cost components include:Underground miningProcessing and plant operationsGeneral and administrative costsSite services and infrastructure supportThe cost structure incorporates modifying factors of approximately 8% mining dilution, 89% mining recovery, and 75% metallurgical recovery.7.3 All-In Sustaining Cost (AISC)The Project's estimated all-in sustaining cost8, inclusive of sustaining capital and site-level costs, is approximately: USD $303 per mtu WO3.This positions the Borralha Project competitively within the global tungsten cost curve.7.4 Capital CostsThe PEA estimates capital costs9 as follows:Initial capital cost: approximately USD $91 million (CAD $124.3 million)Sustaining capital: approximately USD $87 million (CAD $118.8 million)Total life-of-mine capital: approximately USD $178 million (CAD $243.1 million)Capital estimates are preliminary in nature and carry an accuracy range of ±35%, consistent with PEA-level studies.7.5 Economic Metrics (After-Tax)Medium Case – USD $1,000/mtu WO3NPV(8%)1IRR2Payback3$473.4 million48.8%4.2 years(USD$ 346.6 million)

Base Case – Argus Long-Term Forecast (US$677 to $763/mtu WO3; ~USD $704/mtu WO3 Average)NPV(8%)1IRR2Payback3$182.7 million27.2%5.8 years(USD$ 134.0 million)

High Case – USD $1,500/mtu WO3NPV(8%)1IRR2Payback3$963.8 million78.4%3.2 years(USD$ 706.4 million)

 Notes:
1. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV.
2. IRR is a Non-GAAP measure; see notes below for additional information regarding IRR.
3. Payback is a Non-GAAP measure. see notes below for additional information regarding payback.
4. Canadian dollar (CAD) equivalents calculated used a foreign exchange rate of CAD $1.3658/USD.Mine design and cut-off grade selection were developed using a conservative USD $659/mtu WO3 assumption. Recent reported tungsten market prices have reached approximately USD $1,998/mtu [Source: Fastmarkets; February 27, 2026], demonstrating meaningful leverage to current market conditions.7.6 Sensitivity AnalysisSensitivity analysis demonstrates that Project economics are most sensitive to: (i) tungsten price; (ii) capital costs; (iii) operating costs; and (iv) metallurgical recovery.The Project retains positive economics across a range of tungsten price assumptions. At the Base Case price assumption, the Project generates robust operating margins, with significant leverage to higher tungsten price scenarios.The Project demonstrates strong leverage to tungsten price. The following sensitivity analysis illustrates the post-tax IRR and NPV (8%) across a flat tungsten price range of USD $500 to USD $1,700 per mtu WO3. Figure 1 — After-Tax NPV (8%) and IRR Sensitivity to Tungsten PriceTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/285820_ede9ceca64ea6a8e_001full.jpgNotes: IRR is a Non-GAAP measure; see notes below for additional information regarding IRR. NPV is a Non-GAAP measure; see notes below for additional information regarding NPV.8. Growth and Expansion OpportunitiesMineralization at the Santa Helena Breccia remains open along strike and at depth, providing potential for future Mineral Resource expansion through additional drilling. The current underground mine design is based on the defined Mineral Resource; however, further infill and step-out drilling may support resource conversion and potential extension of mine life. The process plant has been designed at a nominal throughput of 1.4 Mtpa. Subject to further engineering studies and market conditions, the plant layout may allow for future throughput expansion. Selective mining and continued geological refinement may enhance grade control and support optimization of the life-of-mine grade profile.9. Strategic PositioningThe Borralha Project represents one of the largest undeveloped tungsten resources within the European Union and is positioned to contribute to European supply chain security for this designated critical raw material. The combination of underground mining, gravity-dominant processing and significant permitting advancement materially reduces technical and development risk relative to many global tungsten development projects.The favourable Environmental Impact Declaration (DIA) provides regulatory clarity and supports advancement toward the next stage of engineering and feasibility.10. Project Risks and UncertaintiesThis initial PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied that would enable them to be categorized as Mineral Reserves. There is no certainty that the results of the PEA will be realized.Key risks and uncertainties include:Inclusion of Inferred Mineral Resources within the mine planVariability in tungsten price and foreign exchange ratesCapital cost escalation and schedule riskMetallurgical recovery variabilityUnderground geotechnical and hydrogeological conditionsRegulatory and permitting timelinesAvailability of equipment and human resources11. Recommended Work ProgramThe Company intends to advance Borralha toward the next stage of engineering through:Infill drilling to upgrade Inferred Mineral Resources to higher confidence categoriesStep-out drilling to expand Mineral Resources and potentially extend mine life.Additional metallurgical optimization and variability testingDetailed geotechnical and hydrogeological investigationsEngineering advancement toward a Pre-Feasibility StudyOngoing permitting and RECAPE progressionThese activities are intended to further de-risk the Borralha Project and support advancement toward a Feasibility Study.12. Quality ControlThe Company has implemented a comprehensive and well-documented quality assurance and quality control ("QA/QC") program consistent with industry best practices. Drill core and reverse circulation samples were prepared at ISO-accredited ALS Global facilities in Seville, Spain, and analyzed at ALS Global's certified laboratory in Loughrea, Ireland, using XRF methods for tungsten (W-XRF05 and W-XRF10), with routine internal laboratory QA/QC procedures including pulp duplicates. The Company inserted certified reference materials ("CRMs"), blank samples, and field duplicates into the sample stream at regular intervals, including one CRM every 20 routine samples and two blanks per analytical batch.Five independent CRMs covering multiple grade ranges were used. Samples exceeding ±3 standard deviations from expected CRM values, or blanks exceeding three times detection limits, triggered re-assay of the affected batch. Reverse circulation samples were weighed to monitor recovery and reject materials were securely stored. Independent verification sampling by a Qualified Person confirmed the reliability of the analytical database. The Qualified Persons are satisfied that the QA/QC procedures and resulting analytical data are appropriate for use in the Mineral Resource Estimate and the PEA.13. Qualified PersonsThe scientific and technical information contained in this news release has been reviewed and approved by the following Qualified Persons, as defined under NI 43-101:J. Douglas Blanchflower, P.Geo.Mr. Blanchflower is an independent Qualified Person under NI 43-101 and was retained by Allied Critical Metals Inc. to prepare the NI 43-101 Technical Report dated effective December 30, 2025. He has overall responsibility for the 2025 MRE and the Technical Report. Mr. Blanchflower is a Registered Professional Geoscientist in good standing with the Association of Professional Engineers and Geoscientists of British Columbia (No. 19086) and has more than five decades of experience in mineral exploration, resource estimation, and technical reporting. Mr. Blanchflower has reviewed and approved the scientific and technical information in this news release relating to the mineral resource estimate.David Castro López, BSc, MIMMM, QMRMr. Castro López is a Mining Engineer and a Professional Member (MIMMM #685484) and Qualified for Minerals Reporting (QMR) of the Institute of Materials, Minerals and Mining (IOM3). He is independent of the Company and the Borralha Project. Mr. Castro López contributed to the metallurgical review and process design considerations supporting the PEA and takes responsibility for the metallurgical and mineral processing information contained herein. Mr. López has reviewed and approved the scientific and technical information in this news release relating to the metallurgical and mineral processing information contained herein.Miguel Cabal, EurGeol, Licensed GeologistMr. Cabal is a licensed geologist with the European Federation of Geologists (EuroGeol #1439) with over 28 years of experience in mineral exploration, resource evaluation and mine development. He is Managing Director of Geomates (Spain) and has contributed to multiple NI 43-101 and JORC-compliant technical reports, including PEA, PFS and feasibility studies. Mr. Cabal is independent of Allied Critical Metals Inc. and the Borralha Project and has reviewed and approved the mining and economic components of the PEA. Mr. Cabal has reviewed and approved the scientific and technical information in this news release relating to the mining and economic components of this news release.Vítor Arezes, BSc, MIMMM, QMRMr. Arezes is Vice President Exploration of Allied Critical Metals Inc. and a Qualified Person under NI 43-101. He is not independent of the Company due to his role as an officer. Mr. Arezes has extensive experience in tungsten and polymetallic mineral systems and has conducted multiple site visits to the Borralha Project, including during the 2025 drilling campaign. He contributed to geological interpretation, exploration oversight, and technical review supporting the PEA. He is a member of the Institute of Materials, Minerals and Mining (MIMMM #703197) and a Qualified Mineral Resources and Ore Reserves Professional (QMR), and by reason of education, professional experience, and accreditation, meets the definition of a Qualified Person as defined in NI 43-101. Mr. Arezes has reviewed and approved all of the scientific and technical information in this news release.Figure 2 — South – North longitudinal section on mine design at Sta. Helena BrecciaTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/285820_ede9ceca64ea6a8e_002full.jpgFigure 3 — East – West transversal section on mine design at Sta. Helena BrecciaTo view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/285820_ede9ceca64ea6a8e_003full.jpgAbout Allied Critical Metals Inc.Allied Critical Metals Inc. is a Canadian-based mining company focused on the advancement and revitalization of its 100%-owned Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal.The Borralha Project is one of the largest undeveloped tungsten resources within the European Union and benefits from a favourable Environmental Impact Declaration (DIA), positioning the Project for advancement toward feasibility and development. Vila Verde represents additional exploration upside within the same strategic jurisdiction.Tungsten has been designated a critical raw material by the United States and the European Union due to its strategic importance in defense, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87% of global tungsten supply and reserves, highlighting the importance of secure western sources.Further details regarding the Borralha Project are available in the Company's NI 43-101 Technical Report dated December 30, 2025, filed on SEDAR+ at www.sedarplus.ca and on the Company's website at www.alliedcritical.com.ON BEHALF OF THE BOARD OF DIRECTORS"Roy Bonnell"
CEO and DirectorAdditional information is also available by contacting the Company:Dave Burwell
Vice President, Corporate Development

There must be something behind the bush.

Yesterday, ACM marker its ATH at CAD 1.13. Go ACM, go!

Allied Critical Metals Launches 20,000 Meter 2026 Drill Program at its Borralha Tungsten Project in Northern PortugalJanuary 26, 2026 12:30 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - January 26, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company") is pleased to announce the launch of an extensive 20,000 meter drilling campaign at its 100%-owned Borralha Tungsten Project ("Borralha" or the "Project") in northern Portugal. This fully funded 2026 exploration program is designed to follow up on the Company's successful 2025 drill results and further define the extent of high-grade tungsten mineralization ahead of planned economic studies and resource expansion.The 2026 program will comprise approximately 20,000 meters of core and reverse circulation drilling across multiple target zones within the Borralha property. Drilling will focus on:Step-out and infill drilling to expand and upgrade the current Mineral Resource Estimate ("MRE"), which was materially increased in late 2025;Testing extensions of the Santa Helena Breccia and other prospective ore zones identified from recent campaigns;Collecting material for advanced metallurgical test work to support prefeasibility and economic modelling;Generating data to complement Allied's anticipated Preliminary Economic Assessment ("PEA") targeted for completion in Q1 2026; andTargeting intersect of the Venise Breccia located north of Santa Helena Breccia, a historically recognized high-grade structure known for wolframite and molybdenum mineralization."We are excited to launch our most ambitious drill program to date at Borralha. The results from our 2025 campaign, including some of the largest tungsten intercepts ever recorded (see September 4 & November 5 news releases) and a significantly expanded resource base, have validated our geological model and highlighted the scale of this system. The drilling campaign will also target a second breccia complex - the Venise Breccia - at Borralha. We will be eagerly awaiting the results of drilling at this second breccia complex," commented Roy Bonnell, CEO & Director of Allied. "With tungsten designated a strategic critical material in the European Union and the United States, this expanded 20,000 meter program will be a cornerstone of our efforts to define Borralha's resource potential and support advancing the project toward economic evaluation."Borralha remains one of the most compelling untapped tungsten assets in Western Europe, with recent work confirming both bulk mineralization and higher-grade corridors amenable to future underground extraction. Tungsten's classification as a critical raw material under EU and U.S. strategic initiatives further underscores the importance of advancing Borralha's development.The Company has already received key regulatory milestones allowing advancement of the Borralha Project through detailed engineering and permitting phases and anticipates continued progress alongside the 2026 drill campaign.Program Details & ObjectivesProgram Size: ~20,000 meters of core and reverse circulation drilling.Primary Targets: Resource growth at the Santa Helena Breccia and conversion of Inferred resources to higher confidence categories, and targeted exploration of additional high-grade structures, including the Venise Breccia located north of Santa Helena Breccia.Planned Outcomes: Expansion of the MRE, metallurgical data acquisition, and support for the Company's PEA (expected in Q1 2026) and future feasibility work.Further updates, including results from initial drill holes and revised resource modelling, will be released as data becomes available throughout the 2026 drill program.Qualified PersonThe 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. About the Borralha Tungsten ProjectBorralha is an advanced-stage brownfield tungsten project with a compelling resource base and historical production record. The property benefits from favorable metallurgy, existing infrastructure, and a strategic location within the European Union - a jurisdiction actively seeking to diversify critical raw material supply chains. Tungsten is essential for defense, manufacturing, energy transition technologies, and industrial applications. For further details, please see the Company's current MRE Technical Report, "Technical Report on the Borralha Property, Parish of Salto, District of Vila Real, Portugal", dated effective December 30, 2025 (the "Technical Report") which is publicly available under the Company's profile on SEDAR+ at www.sedarplus.ca.About Allied Critical Metals Inc.Allied Critical Metals Inc. (CSE: ACM) (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. 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 87% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately U.S.$5 to $6 billion, and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.ON BEHALF OF THE BOARD OF DIRECTORS
"Roy Bonnell"Roy Bonnell
CEO and DirectorFor further information or investor relations inquiries, please contact:Dave Burwell
Vice President, Corporate Development
Email: daveb @carromill-7907
Toll Free: 1-888-221-0915Please also 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/
Facebook: https://www.facebook.com/alliedcriticalmetals/
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 InformationThis 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, including the timing for an industrial scale process plant at Borralha, if at all, and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's filings 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 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 most recently filed management's discussion and analysis, all as 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.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281543
Original: Allied Critical Metals Launches 20,000 Meter 2026 Drill Program at its Borralha Tungsten Project in Northern Portugal

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