Mr. Roy Bonnell reports

ALLIED CRITICAL METALS ANNOUNCES UPDATE ON THE SECOND TRANCHE OF ITS U.S.$25 MILLION EQUITY FINANCING

Further to the news release dated April 24, 2026, Allied Critical Metals Inc. is continuing to progress toward closing of the second tranche of the $25-million (U.S.) non-brokered private placement offering of common shares at a price of $2.05 per share in the amount of $15-million (U.S.) second tranche with an existing strategic investor and a new strategic investor. The existing strategic investor has confirmed to the company its intention to backstop the contemplated investment by the new strategic investor in the second tranche.

The closing of the second tranche follows significant due diligence by each of the strategic investors. "The company is financed to complete its 20,000-metre drilling campaign at the Borralha project and has already ordered certain long-lead items for the Vila Verde pilot plant. Securing the second tranche provides further strong support for our plan to fast-track tungsten concentrate production," commented Roy Bonnell, chief executive officer of the company.

The second tranche forms part of a transformational financing that comprised $25-million (U.S.) in equity and a project financing facility in the amount of $15-million (U.S.).

About Allied Critical Metals Inc.

Allied Critical Metals is a Canadian-based mining company focused on the advancement and revitalization of its 100-per-cent-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 defence, aerospace, manufacturing, automotive, electronics and energy applications. Currently, China, Russia and North Korea account for approximately 87 per cent 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 National Instrument 43-101 preliminary economic assessment technical report dated April 14, 2026, filed on SEDAR+ and on the company's website.

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