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Stillwater Critical Minerals Collaborates with Lawrence Berkeley National Laboratory with Funding from the US Department of Energy for Geologic Hydrogen Production at Stillwater West

Corporate Updates

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Stillwater Critical Minerals Collaborates with Lawrence Berkeley National Laboratory with Funding

from the US Department of Energy for Geologic Hydrogen Production at Stillwater West

August 15, 2024 - Vancouver, B.C., Stillwater Critical Minerals Corp. (TSX.V: PGE | OTCQB: PGEZF | FSE: J0G)

(the “Company” or “Stillwater”) is collaborating with Lawrence Berkeley National Laboratory (“Berkeley Lab”),

with funding from the U.S. Department of Energy (“DOE”) via the Advanced Research Projects Agency program

(“ARPA-E”), to study the potential for geologic hydrogen production at its flagship Stillwater West Ni-PGE-Cu-Co

+ Au project in Montana.

Funding in the amount of U.S. $2 million has been secured by Berkeley Lab to advance the “Cyclic Injection for

Commercial Seismic-Safe Geologic H2 Production (CyclicGeoH2)” project, led by Berkeley Lab Research Scientist

Dr. Mengsu Hu in collaboration with the University of California at Berkeley and the University of Texas at Austin.

The team is developing technologies for geologic hydrogen production that address the challenge of extracting

hydrogen both safely and economically at commercial scale. The technology involves the use of adaptive controls

of fracture creation followed by serpentinization reactions to generate and subsequently extract hydrogen to a

wellhead. Using rock samples from the Stillwater Igneous Complex, the team is applying an integrated approach

for developing and testing novel technology that includes laboratory tests, field characterization and multiscale

numerical modeling. The research effort in the project will benefit from studies conducted by other projects

supported by ARPA-E that are focusing on the enhancement of the rate of geologic hydrogen generation.

Geologic hydrogen refers to hydrogen gas that occurs naturally within the Earth's crust, which is generated

through natural processes such as the reaction of water with certain types of iron-rich rocks, and other

processes. The most favorable settings for geologic hydrogen accumulation are within ultramafic rocks which

are rich in the mineral olivine that readily reacts in the serpentinization process, producing geologic hydrogen.

These environments provide the necessary conditions for continuous hydrogen production over geological

timescales or through accelerated stimulation of these reactions , making them ideal for potential exploration

and extraction of hydrogen as a clean energy source.

Hydrogen is increasingly recognized as a clean energy source due to its ability to produce energy with minimal

environmental impact. When used in fuel cells, hydrogen combines with oxygen to generate electricity, with

water vapor as the only byproduct, mak ing it a zero -emission energy source. This contrasts sharply with fossil

fuels, which release significant amounts of carbon dioxide and other pollutants when burned. Moreover,

hydrogen can be stored and transported efficiently, making it a versatile energy carrier that can be used in a

wide range of applications, from powering vehicles to providing backup power for grid systems. As the world

seeks to reduce its carbon footprint, hydrogen holds significant promise as a key component of the transition to

a cleaner, more sustainable energy future.

Michael Rowley, Stillwater Critical Minerals President and CEO, stated, “We are excited for our Stillwater West

project to be selected for this cutting -edge work in the burgeoning field of geologic hydrogen generation . We

look forward to continued work with Dr. Hu’s team given our sh ared vision of securing domestic supply of the

critical minerals so urgently need ed by the US while also potentially generating clean energy in the form of

hydrogen based on the rare geology of the Stillwater Igneous Complex . With the largest nickel resource in an

active US mining district and a wealth of other minerals listed as critical by the US government, Stillwater Critical

Minerals is exceptionally well -positioned to play a significant role in achieving these goals as we continue to

advance Stillwater West as a large-scale, low-carbon source of at least nine minerals listed as critical. It is our

belief that mining can do more than supply minerals by conventional means, and that relationships such as this

are the path toward more sustainable practices.”

Dr. Mengsu Hu, Berkeley Lab Lead P rincipal Investigator, said “It is an exciting opportunity to study geologic

hydrogen that is funded by the US government for the first time. Our technology has potential for a wide range

of geologic settings where it may be possible to produce geologic hydrogen at scale.”

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Dr. Carl Steefel, Co-Principal Investigator at Berkeley Lab, stated “The layered ultramafic rocks of the Stillwater

Complex may be ideal for generation of geologic hydrogen through stimulation. If core -scale tests using

stimulation produce favorable results, we are optimistic about proceeding to larger scale pilot tests in the

Stillwater Complex where the full range of our technology can be brought to bear. We are also interested to see

if naturally occurring hydrogen can be detected in the Stillwater Complex.”

About Dr. Mengsu Hu

Dr. Mengsu Hu is a Research Scientist at the Lawrence Berkeley National Laboratory (LBNL). Dr. Hu’s research

focuses on multiscale numerical modeling and machine learning for analyzing coupled thermal-hydro-

mechanical-chemical (THMC) processes from fundamental Earth science to subsurface energy geoscience

applications (e.g., nuclear waste disposal, geothermal energy and geologic hydrogen production and storage).

Dr. Hu is currently serving on th e Board of Directors of American Rock Mechanics Association (ARMA), and

Editorial Board for Rock Mechanics and Rock Engineering, PNAS Nexus, International Journal of Rock Mechanics

and Mining Sciences, and Geomechanics and Geophysics for Geo -Energy and Geo -Resources. Dr. Mengsu Hu

was selected as an ARMA future leader in 2020, a recipient of 2021 LBL Director's Award for Exceptional Early

Scientific Career Achievement at LBNL, and a participant of 2022 U.S. Frontiers of Engineering symposium.

About Dr. Carl Steefel

Carl Steefel is a Senior Scientist at Berkeley Laboratory in the Energy Geosciences Division, Earth and

Environmental Sciences Area. He also serves as head of the Geochemistry Department. He has seven years of

experience in mineral exploration and over 40 years of experience in developing models for multicomponent

reactive transport in porous media and applying them to topics related to water-rock interaction, chemical and

enhanced weathering, and reac tive contaminant transport. He is the principal developer of the CrunchFlow

software, which won an R&D 100 Award in 2017. He was named an AGU Fellow in 2019 and received the

Berkeley Lab Director’s Award for Exceptional Scientific Achievement in 2020.

About Dr. Michael Manga

Dr. Michael Manga, co-Principal Investigator on the project, is a professor and department chair of Earth and

Planetary Science, at the University of California, Berkeley. He studies the geological processes that shape Earth’s

surface. He is a member of the National Academy of Sciences, and his scholarship has been recognized with the

Macarthur fellowship and the Macelwane medal from the American Geophysical Union and Donath medal from

the Geological Society of America.

Upcoming Events

Stillwater Critical Minerals President and CEO, Michael Rowley, will be presenting at the following events:

1) Emerging Growth Conference: Live Webinar Presentation, August 22 at 1:40 PT. To register click here.

2) Precious Metals Summit, Beaver Creek, Colorado, September 10-13. For information and registration,

click here.

3) Commodities Global Expo 2024, Fort Lauderdale, Florida, October 20-22. For more information and

registration, click here.

4) Precious Metals Summit, Zurich, Switzerland, November 11-12, 2024. For information and registration,

click here.

About Stillwater Critical Minerals

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Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF | FSE: J0G) is a mineral exploration company focused on

its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining

district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and

strategic investments by Glencore plc, the Company is well positioned to advance the next phase of large-scale

critical mineral supply from this world-class American district, building on past production of nickel, copper, and

chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-

Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West

with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now

listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6

billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at

Stillwater West. All of these deposits remain open for expansion along trend and at depth.

Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Nexgold Mining’s development-

stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining,

and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit

in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director – Stillwater Critical Minerals

Email: [email protected] Phone: (604) 357 4790

Web: http://criticalminerals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved

the technical disclosure contained in this news release.

Forward-Looking Statements

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other

than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production,

estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential

exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates,

permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations,

environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve

various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking

statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or

developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number

of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements

include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be

refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general

economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials

and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals,

unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and

from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are

not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky

business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more

information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings

that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.