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 Delivers Strong First
Results at Santa Helena with 23.8 Metres of
0.68% WO3; Provides Borralha Project Update
Highlights
First drill hole of 2026 supports view that the Santa Helena deposit underpins the
Borralha Project's recently completed Preliminary Economic Assessment ("PEA")
1
.
23.8 metres grading 0.68% WO
₃
from 24.0 m (estimated true width), including
4.0 metres
grading 2.96% WO
₃
, from 44.0 m, confirming broad zones of high-grade tungsten mineralization.
Wide mineralized corridor of
57.6 metres grading 0.30% WO
₃
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 ongoing Venise exploration campaign
as they
become available.
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2026) -
Allied Critical Metals Inc. (CSE: ACM)
(OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company")
is pleased to announce 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 (the "
Borralha Property
" or
the "
Borralha Project
") while continuing to unlock the district's broader exploration potential.
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 ongoing
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% WO
₃
including
57.6 metres grading 0.30% WO
₃
including
23.8 metres grading 0.68% WO
₃
including
4.0 metres grading 2.96% WO
₃
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
(the
"PEA
")
1
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 at
www.alliedcritical.com
and under its profile on SEDAR+ at
www.sedarplus.ca
.
"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, CEO 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 de-risking the Borralha Project while creating opportunities for future resource growth
beyond the current mine plan."
Santa Helena - Ongoing Development Drilling
The current drilling campaign at Santa Helena forms the core of the Company's 20,000-metre fully
funded exploration and development program.
Unlike the exploration-focused drilling currently underway 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; and
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.
Ongoing 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 ongoing 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; and
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.
Table 1 - Venise Breccia Drill hole Collar Locations and Status
ID
Coordinates
(UTM WGS84 29N)
Az.
(º)
Dip
(º)
DEPTH
(m)
Status
N
E
Bo_13/26
585543
4611519
85
55
425.1
Current Press Release
Bo_14/26
585520
4611356
90
60
450.0
Completed - Assays
Pending
Bo_15/26
585587
4611380
85
55
361.0
Completed - Assays
Pending
Bo_16/26
585416
4611352
105
70
322.4
Ongoing
Bo_17/26
585586
4611447
85
55
312.8
Ongoing
Bo_18/26
585455
4611387
90
60
157.4
Ongoing
Bo_19/26
585459
4611315
100
50
169.4
Ongoing
Table 2 - Santa Helena Breccia Current Campaign Interval Highlights Update
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/305371_allied1.jpg
Figure 1 -
Cross section of the Santa Helena Breccia showing drill hole Bo_13/26 assay results,
confirming broad tungsten mineralization consistent with the current geological and mineral resource
model. The hole intersected a wide mineralized interval containing higher-grade tungsten corridors within
the bulk-mining envelope. Reported intervals represent downhole lengths; estimated true widths are
based on the current geological interpretation and may be refined as additional drilling is completed.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/305371_8c506539e4023b58_002full.jpg
Figure 2:
Plan view of the Borralha Project showing the location of drill hole Bo_13/26 within the Santa
Helena Breccia and the ongoing 2026 drilling campaign. Current drilling is focused on resource
conversion, geological model validation, geotechnical characterization and metallurgical variability
sampling at the Santa Helena Breccia, while parallel exploration drilling continues to evaluate the newly
discovered Venise Breccia.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/305371_8c506539e4023b58_003full.jpg
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 Inc., who is
a Qualified Person as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral
Projects
("
NI 43-101
"). 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
QA/QC results. No limitations were imposed on Mr. Arezes' 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 Quality Assurance and Quality Control ("
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 multi-element analysis. Samples returning tungsten values above the
analytical upper detection limit of the ME-MS81 method (>10,000 ppm W) were re-assayed 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 WO
₃
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 (the "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 that vest 25% every
three months after the date of grant which are 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 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 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 at
www.alliedcritical.com
and under its profile on SEDAR+ at
www.sedarplus.ca
.
ON BEHALF OF THE BOARD OF DIRECTORS
"Roy Bonnell"
CEO and Director
Additional information is also available by contacting the Company:
Dave Burwell
Vice President, Corporate Development
Tel:403-410-7907
Toll Free: 1-800-221-0915
Please 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 Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities laws ("
FLI
"). FLI in this release includes, without limitation: (1) statements regarding the
Company's ongoing 20,000-metre drill program and its potential to expand mineral resources, convert
inferred resources to higher-confidence categories, extend mine life, or support future resource growth;
(2) expectations that drilling will advance toward the interpreted centre of the Venise Breccia system; (3)
interpretations that current drilling provides indications of geological continuity or validates historically
recognized breccia systems, and expectations that such systems may have implications for future
resource delineation or project modelling; (4) expectations regarding the significance, continuity,
distribution, or potential recoverability of molybdenum, gallium or other critical minerals identified through
exploration; (5) statements suggesting that the Venise Breccia or other exploration targets may have the
potential to contribute to future project scale growth, throughput optimization, development pathways or
future mineral resource expansion beyond the current PEA mine plan, although there is no assurance
that continued exploration will demonstrate economic viability; (6) statements describing the Company's
long-term vision for the Borralha Property, including the potential strategic or economic positioning
benefits arising from future exploration success; and (7) expectations regarding the timing, scope or
results of future engineering studies, including feasibility-level studies for the Borralha 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. Any reference to potential impacts on future mine planning, resource
expansion or mine life extension is conceptual in nature. No economic analysis, mine planning work or
mineral resource estimate has been completed for the Venise Breccia, and there is no assurance that
further exploration will result in the delineation of mineral resources or in modifications to the current PEA
mine plan.
Material assumptions underlying the FLI in this news release include, but are not limited to: (1)
assumptions that the geological observations are accurate and indicative of the broader breccia system;
(2) assumptions that historical geological descriptions and interpretations are directionally reliable and
that modern drilling will continue to support, refine or expand those interpretations; (3) assumptions that
pending assay results will be received within expected timelines and will be generally consistent with
current geological observations and interpretations; (4) assumptions that ongoing and future exploration
results, including tungsten, molybdenum, gallium and other critical mineral results, will continue to support
current geological interpretations and may contribute to future resource delineation, potential resource
expansion, or evaluation of project development concepts; (5) assumptions regarding stability in
tungsten market fundamentals, pricing, and relevant economic conditions; and (6) assumptions that
available funds for exploration and corporate activities will remain sufficient to execute planned work
programs. The Company believes these assumptions are reasonable as of the date hereof, but no
assurance can be given that they will prove correct.
Key risks and uncertainties that could cause actual results to differ materially from those expressed or
implied by the FLI include, but are not limited to: (1) exploration and geological risks; (2) risks related to
metallurgical performance, processing assumptions and potential by-product recovery assumptions; (3)
risks of capital-cost increases, scheduling delays, and contractor or supply-chain constraints; (4)
operating-cost inflation; (5) commodity-price and foreign-exchange volatility; (6) permitting,
environmental, community, land-access and regulatory risks; (7) geotechnical, hydrogeological, tailings
and water-management risks; (8) marketing and offtake risks for tungsten concentrates; (9) financing
and liquidity risks; and (10) risks arising from changes in laws, taxes, royalties or government policy. 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 in the Company's Annual Information Form dated April 24,
2026, all as filed under the Company's 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 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 reliance 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.
1
The PEA is preliminary in nature, includes inferred mineral resources that are considered too speculative geologically to have economic
considerations applied to them that would enable them to be characterized 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.
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