Mr. Roy Bonnell reports

ALLIED CRITICAL METALS DELIVERS STRONG FIRST RESULTS AT SANTA HELENA WITH 23.8 METRES OF 0.68% WO3; PROVIDES BORRALHA PROJECT UPDATE

Allied Critical Metals Inc. has released the first assay results from its 2026 drilling campaign at the Santa Helena breccia, delivering another important milestone to advance the Borralha tungsten project in northern Portugal while continuing to unlock the district's broader exploration potential.

Highlights:

• First drill hole of 2026 supports view that the Santa Helena deposit underpins the Borralha project's recently completed preliminary economic assessment (PEA);
• 23.8 metres grading 0.68 per cent WO3 from 24.0 m (estimated true width), including 4.0 metres grading 2.96 per cent WO3 from 44.0 m, confirming broad zones of high-grade tungsten mineralization;
• Wide mineralized corridor of 57.6 metres grading 0.30 per cent WO3 from 24.0 m (estimated true width) demonstrates the continuity of the Santa Helena breccia bulk mineralized system;
• 20,000-metre drilling campaign focused on the Borralha project is accelerating, with six rigs operating and a seventh arriving shortly;
• While Santa Helena drilling is advancing the existing development project, additional drilling continues concurrently at the newly discovered Venise breccia, offering significant exploration upside beyond the current estimated resources and PEA;
• The company expects to provide additional assay results from both the Santa Helena development drilling program and the continuing Venise exploration campaign as they become available.

The first drill hole of the current campaign, Bo_13/26, successfully intersected broad tungsten mineralization consistent with the current geological and mineral resource model. The results continue to demonstrate the continuity of the Santa Helena breccia while providing important information for continuing resource conversion, mine planning, geotechnical engineering and metallurgical variability studies.

Drill hole Bo_13/26 returned multiple significant tungsten intervals:

• 81.5 metres grading 0.22 per cent WO3;
• Including 57.6 metres grading 0.30 per cent WO3;
• Including 23.8 metres grading 0.68 per cent WO3;
• Including 4.0 metres grading 2.96 per cent WO3.

The higher-grade tungsten occurs within broad mineralized corridors that are expected to support the Borralha project's planned bulk underground mining approach, an important factor underpinning the economics outlined in the company's recent preliminary economic assessment of the Borralha project entitled "NI 43-101 Technical Report Preliminary Economic Assessment, Borralha Tungsten Project, Parish of Salto, District of Vila Real, Portugal," dated effective April 14, 2026, which is published on the company's website and under its profile on SEDAR+.

"The first assay results from our 2026 Santa Helena drilling campaign continue to validate the geological and mineralization model that underpins the Borralha preliminary economic assessment," said Roy Bonnell, chief executive officer and director of Allied Critical Metals. "The recent Venise breccia discovery has the potential for district-scale growth at Borralha, and these results shows that the Santa Helena breccia remains the foundation of our development strategy. The results confirm the continuity of the broad mineralized corridors that support our planned bulk underground mining approach while providing critical geological, geotechnical and metallurgical information required to advance the project toward future feasibility studies.

"With six drill rigs currently operating and a seventh expected shortly, we are executing the largest drilling campaign in Borralha's recent history. Our strategy is twofold: continue expanding the long-term potential of the district through exploration at Venise while simultaneously increasing confidence in the Santa Helena mineral resource through infill, technical and engineering drilling. Together, these programs are systematically derisking the Borralha project while creating opportunities for future resource growth beyond the current mine plan."

Santa Helena -- Continuing development drilling

The current drilling campaign at Santa Helena forms the core of the company's 20,000-metre fully financed exploration and development program.

Unlike the exploration-focused drilling currently under way at the Venise breccia, drilling at the Santa Helena breccia is primarily designed to support project advancement through:

• Resource conversion and validation of the current mineral resource estimate;
• Geological model confirmation;
• Geotechnical characterization for underground mine design;
• Metallurgical variability sampling across the planned mining sequence;
• Selective testing of mineralization beyond the current PEA mine plan.

The program is expected to progressively increase confidence in the existing mineral resource while providing engineering data that may be used in for future feasibility-level studies.

District-scale exploration continues

In parallel with development drilling at Santa Helena breccia, Allied continues to advance district-scale exploration approximately 400 metres to the northwest at the newly discovered Venise breccia.

Two drill rigs are currently evaluating the geometry, continuity and vertical extent of the newly identified tungsten-molybdenum breccia system at the Venise breccia.

Since announcing the initial discovery, the company has completed drill hole Bo_BV_04a, with assays currently pending, while drill holes Bo_BV_02b and Bo_BV_05a remain in progress. The company expects to provide further updates from the Venise breccia as analytical results become available.

The recently announced Venise breccia discovery has significantly expanded the exploration potential of the Borralha project. Current drilling is focused on evaluating the geometry, continuity and scale potential of this newly confirmed tungsten-molybdenum within the Venise breccia system, which remains open and is not yet included in the current Borralha resource estimate, mine plan or PEA.

Continuing growth strategy

The Borralha project is currently advancing along two parallel value-creation pathways: increasing confidence in the Santa Helena breccia resource base that underpins the current PEA while simultaneously evaluating the district-scale growth potential represented by the newly discovered Venise breccia and other exploration targets across the Borralha property. The PEA is preliminary in nature, is not a mineral reserve estimate or feasibility study, and should not be interpreted as establishing the economic viability of the Borralha project.

The company's continuing drilling program is designed to simultaneously:

• Increase confidence in the current mineral resource estimate; convert inferred resources to higher-confidence categories;
• Provide geotechnical and metallurgical data for potential use in future engineering studies;
• Evaluate extensions of the Santa Helena breccia mineralized system;
• Continue district-scale exploration targeting additional tungsten-bearing breccias within the Borralha project.

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 PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability. No mineral reserves have been estimated for the Borralha project.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Vitor Arezes, BSc, MIMMM (QMR), vice-president of exploration for Allied Critical Metals, who is a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of the company as he is vice-president, exploration, of the company.

Mr. Arezes has verified the technical information disclosed in this news release, including the sampling, analytical and test data underlying the information presented herein. Mr. Arezes verified the information through a review of drill logs, geological interpretations, sampling records, analytical certificates and quality assurance/quality control results. No limitations were imposed on Mr. Arezes's verification process.

Quality assurance and quality control

Diamond drilling at the Borralha property was carried out using industry-standard procedures. Drill core was transported to the company's secure logging facility, where it was geologically logged, photographed and sampled under the supervision of company geologists. Core was sampled at continuous nominal 2.0-metre intervals throughout the mineralized interval, with geological interpretation refined following receipt of analytical results where appropriate.

Certified reference materials (CRMs), blanks and duplicates were inserted into the sample stream as part of the company's QA/QC program to monitor analytical accuracy, precision and potential contamination.

Samples were securely stored and dispatched to ALS Seville (Spain) for sample preparation. Samples were crushed, split and pulverized according to ALS standard preparation procedures. Prepared pulps were subsequently analyzed at ALS Loughrea (Ireland) using the ME-MS81 method (lithium borate fusion with ICP-MS finish) for multielement analysis. Samples returning tungsten values above the analytical upper detection limit of the ME-MS81 method (greater than 10,000 parts per million W) were reassayed using the W-XRF15b method (lithium borate fusion with XRF finish). ALS is independent of the company and is accredited to ISO/IEC 17025.

QA/QC results are reviewed on a batch-by-batch basis. All CRMs, blanks and duplicates associated with the results reported herein returned values within acceptable limits, and no issues were identified that would materially affect the accuracy or reliability of the analytical results.

Tungsten values are reported as WO3; and calculated from elemental tungsten using a conversion factor of 1.261. These conversions are stoichiometric only and do not imply metallurgical recovery.

Reported intervals represent downhole lengths. Estimated true widths were calculated from the interpreted orientation of the mineralized corridors and drill-hole geometry and remain subject to refinement as geological interpretation evolves.

In addition, the company also hereby announces the grant of 1,675,000 stock options at an exercise price of $2.01 per common share and 4,635,000 restricted share units (RSUs) vesting immediately to directors, officers, employees and consultants of the company pursuant to its omnibus equity incentive plan. The options vest immediately except for 100,000 options, which vest 25 per cent every three months after the date of grant, which were granted to an investor relations consultant. 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 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 current preliminary economic assessment technical report prepared in accordance with NI 43-101 entitled "NI 43-101 Technical Report Preliminary Economic Assessment, Borralha Tungsten Project, Parish of Salto, District of Vila Real, Portugal," dated effective April 14, 2026, which is published on the company's website and under its profile on SEDAR+.

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