Allied Critical Metals

Allied Critical Metals Inc. - Company Overview

Management

Executive Leadership Team

Roy Bonnell - Chief Executive Officer & Director

• Over 30 years of leadership experience in capital markets and natural resources
• Co-founder and Director of publicly traded gold mineral exploration companies Founders Metals Inc. and Thesis Gold Inc.
• Former CEO and Chairman of Thesis Gold Inc.
• Co-founder, Director and CEO of Argex Titanium Inc.
• Holds LLB (Western University), MSc (London School of Economics), and MBA (McGill University)
• Member of the Law Society of Upper Canada

João Barros - Chief Operating Officer, President & Director

• Over 20 years of mining expertise with specialization in exploration, environmental impact studies, and feasibility assessments
• Former President of Ascendant Resources Inc. and Redcorp–Empreendimentos Mineiros, Lda.
• Extensive experience with mine operations in Portugal
• Member of the Portuguese Engineers Association

Vítor Arezes - Vice President, Exploration

• Senior geologist and exploration executive with 14+ years' experience
• Expertise in Iberian tungsten, hard rock lithium, and polymetallic VMS systems
• IOM3 Member (MIMMM) accredited as Qualified for Minerals Reporting (QMR)
• Specialized in geological modeling, geostatistics, Mineral Resource estimation/reporting
• Holds B.Sc. (Biology & Geology) from University of Minho

Sean Choi - Chief Financial Officer

• CPA, CA with over 19 years of experience in public accounting and the mining sector
• Former CFO at multiple TSXV-listed companies including Ecuador Gold and Copper Corp., Northern Sun Mining Corp., and York Harbour Metals Inc.
• Holds Bachelor of Administrative and Commercial Studies from Western University, Ontario

Board of Directors

Allied Critical Metals Inc. Board:

• Roy Bonnell - CEO & Director
• João Barros - COO, President & Director
• Sean O'Neill - Non-Executive Chairman & Director
  • Head of Securities at Boughton Law with 20+ years of corporate and securities law experience
  • Holds LLB, BSc (Chemical Engineering), MBA, and is a registered P.Eng.
• Michael Galego - Director
  • Co-founder and director with 20+ years in corporate finance and M&A
  • CEO of Apolo Capital Advisory and former CEO of Stronach Group's Ag Division
  • Led tungsten-asset M&A, including Woulfe Mining's sale to Almonty Industries
  • Lexpert Top 40 Under 40, Law Society of Ontario member
• Andrew Lee - Director/Corporate Secretary
  • Former Managing Director of York Harbour Metals Inc. (TSXV: YORK)
  • 15 years in public mineral exploration with global project experience

Allied Critical Metals (USA) Inc. Board:

• Roy Bonnell - CEO & Director
• James A. "Spider" Marks - Director (Independent)
  • Major General (Ret.) and former Commanding General, U.S. Army Intelligence Center
  • Over four decades of leadership experience across military, intelligence, and commercial sectors
  • Former CEO of Global Linguist Solutions and InVisM
  • President of the Marks Collaborative and adjunct professor at Georgetown University
• Kirstjen Nielsen - Director (Independent)
  • Former U.S. Secretary of Homeland Security (2017-2019)
  • Former Principal Deputy Chief of Staff to the President and Chief of Staff at DHS
  • Leading expert on U.S. national security matters

Projects

Borralha Tungsten Project (Flagship Project)

Location: ~3.8 km² land package located within a historical mining jurisdiction in Portugal, 80km northeast of Porto

Historical Production: Produced an estimated 10,280 tonnes wolframite concentrate between 1904 and 1986 with an average grade of 66% WO₃

Key Features:

• Mining License permits production of up to 150,000 tonnes of mineralized material per year
• Excellent infrastructure including roads, hydroelectric power, water, and access to local skilled workforce
• Unique high-grade metallurgical properties with ferberite (para-magnetic version of tungsten)
• Preliminary metallurgical test results show 95% recoveries
• Brownfield project with significant exploration potential

Resource Estimates:

• Initial preliminary historical inferred resource of approximately 18 million tonnes mineralized material
• Cut-off of 500 gpt WO₃ grading 1,420 gpt WO₃ with a density of 2.70 g/cm³
• Recent drilling (including verification assays in 2023) returned grades ranging up to 188m of 0.29% WO₃
• 13 drill holes totaling 1,918m drilled during 2013-17 on Santa Helena Breccia returned grades of 0.06% to 0.29% WO₃

Development Timeline:

• Objective #1: Updated mineral resource estimate by December 2023
• Objective #2: Environmental Impact Assessment by February 2024 and Preliminary Economic Assessment by March 2024
• Objective #3: Definitive Feasibility Study by Q1 2025 with Exploitation Permit
• Objective #4: Large scale commercial production in Q3-Q4 2025

Vila Verde Tungsten-Tin Project

Location: ~45km south of Borralha, located within a historical mining jurisdiction in Portugal

Key Features:

• Mining License permits production of up to 150,000 tonnes of mineralized material per year
• Excellent infrastructure including roads, hydroelectric power, water, and access to local skilled workforce
• Same unique high-grade metallurgical properties with 95% recovery rates
• 3x Borralha land package size

Resource Estimates:

• Initial preliminary historical inferred resource of 7.3 million tonnes mineralized material with a cut-off of 500 gpt WO₃
• Includes 4.0 million tonnes WO₃ grading 1,347 gpt WO₃ and 264 gpt Sn at Cumieira deposit
• 3.3 million tonnes grading 961 gpt WO₃ at Porqueira deposit
• 17 diamond drilled holes totaling 2,103m revealed a 2.1km x 1km tungsten-tin mineralized system at Cumieira zone
• 1km x 500m tungsten-tin mineralized system at Porqueira

Development Timeline:

• Objective #1: Convert Exploration Permit to Experimental Exploitation Permit by November 2023
• Objective #2: Pilot Plant to commence production in Q2 2024
• Objective #3: Commence Phase 2 with 7,000m drill program in early 2024 followed by metallurgy and preliminary mine planning

Subsidiaries

Allied Critical Metals (USA) Inc.

• Wholly owned subsidiary focused on importing high-quality tungsten concentrate into the United States
• Based in Nashville, Tennessee
• Traded on OTCQB under ticker ACMIF
• Seeking U.S. government partnership to support fast-route solutions for tungsten supply
• Focused on bridging near-term U.S. needs with high-quality imported concentrates
• Designed to enhance supply assurance for critical manufacturing and defense readiness

Partners

Offtake and Strategic Partners

Global Tungsten & Powders (Pennsylvania, USA)

• Signed Letter of Intent (LOI) for the sale of Tungsten Concentrate
• Discussions ongoing with other global refineries for additional partnerships

U.S. Government Partnership Initiatives

• Actively seeking partnership with U.S. government to support critical mineral supply chain
• Focus on national security applications for tungsten
• Designed to address supply chain vulnerabilities and enhance domestic supply assurance

Financial Status

Capital Structure

• Basic Shares Outstanding: 128.3M
• Fully Diluted Shares Outstanding: 180.6M
• Property Vendor Share Grants (Unvested): 11.2M shares
• Options: 9.9M shares (exercise price $0.22 – $0.53)
• Warrants: 22.4M shares (exercise price $0.20 – $2.40)
• RSUs: 8.8M shares

Property Vendor Share Grants

Borralha Project:

• $1.34M face value, vesting no earlier than 12 months + 1 day post-listing
• Convertible into up to 4,466,667 common shares at the greater of $0.30/share or 20-day VWAP

Vila Verde Project:

• $2.68M face value, vesting no earlier than 36 months + 1 day post-listing
• Convertible into up to 6,700,000 common shares at the greater of $0.40/share or 20-day VWAP

Market Position

• Trades on multiple exchanges: CSE: ACM | OTCQB: ACMIF | FSE: 0VJ0
• Positioned to benefit from increasing tungsten prices due to supply chain constraints
• Focused on near-term production to generate cash flow

Short and Long-term Plans

Short-term Plans (2023-2025)

Borralha Project:

• Complete updated mineral resource estimate (December 2023)
• Finalize Environmental Impact Assessment (February 2024)
• Complete Preliminary Economic Assessment (March 2024)
• Finalize Definitive Feasibility Study (Q1 2025)
• Achieve large-scale commercial production (Q3-Q4 2025)

Vila Verde Project:

• Convert Exploration Permit to Experimental Exploitation Permit (November 2023)
• Commence Pilot Plant production (Q2 2024)
• Execute Phase 2 drilling program (7,000m in early 2024)
• Complete metallurgy and preliminary mine planning

Corporate Development:

• Expand U.S. subsidiary operations and partnerships
• Secure additional offtake agreements
• Advance discussions with U.S. government agencies
• Participate in key investor conferences (Hong Kong, London, Ontario)

Long-term Plans (2025+)

• Establish sustained production from both Borralha and Vila Verde projects
• Expand production capacity to meet growing demand
• Develop additional exploration targets within existing land packages
• Pursue strategic acquisitions to expand tungsten portfolio
• Build comprehensive U.S. tungsten supply chain
• Establish processing facilities for value-added products
• Expand into European and Asian markets

ESG (Environmental, Social, and Governance)

Environmental Commitment

• Commitment to sustainable mining practices as stated in company mission
• Focus on minimizing environmental impact through modern mining techniques
• Environmental Impact Assessments being conducted for both projects
• Utilization of existing infrastructure to reduce new development footprint
• High recovery rates (95%) reduce waste and environmental impact

Social Responsibility

• Creating employment opportunities in local Portuguese communities
• Access to skilled local labor force
• Engagement with local stakeholders and communities
• Commitment to safe mining practices
• Support for local economic development through mining operations

Governance

• Strong corporate governance structure with independent board members
• Experienced management team with proven track record
• Transparent reporting and disclosure practices
• Compliance with international mining standards and regulations
• Focus on ethical business practices and supply chain responsibility

Summary Overview

Allied Critical Metals Inc. is a Canadian mining exploration and development company focused on becoming a near-term, low-cost producer of tungsten from its two historically significant projects in northern Portugal. The company is strategically positioned to address the growing demand for secure, responsibly sourced tungsten supply for Western markets, particularly the United States and European Union.

With a strong management team led by industry veterans Roy Bonnell and João Barros, and supported by high-profile board members including former U.S. Homeland Security Secretary Kirstjen Nielsen, the company brings extensive experience in mining development, capital markets, and government relations.

The company's flagship Borralha project and complementary Vila Verde project offer significant resource potential with excellent infrastructure and favorable metallurgical properties. Both projects benefit from historical production data and are advancing through defined development timelines toward commercial production in 2025.

Through its U.S. subsidiary, Allied Critical Metals is establishing a comprehensive supply chain solution that addresses critical national security concerns while creating shareholder value. The company's strategic partnerships, including an LOI with Global Tungsten & Powders, and ongoing discussions with U.S. government agencies, position it well to capitalize on the growing importance of tungsten as a critical and strategic mineral.

With a clear development path, strong technical team, and strategic market positioning, Allied Critical Metals is poised to become a significant player in the Western tungsten supply chain, addressing both industrial and defense applications while maintaining strong ESG principles.