Technology Minerals Extends St Patrick Copper-Cobalt-Nickel Permit in Northwest Spain Until 2028

St Patrick Permit Extension Secures Access to Key European Copper-Cobalt-Nickel Project

Technology Minerals has successfully extended the St Patrick Research Permit, covering the historic Aramo Mine in Asturias, northwest Spain. Initially granted in June 2019, the licence now extends until 21 June 2028. Held through the company’s wholly-owned Spanish subsidiary Asturmet Recursos S.L., which acquired the broader Asturmet Project in August 2021, the extension application was submitted in May 2026. The regional mining authority approved the accompanying plan of work, ensuring regulatory backing for continued asset development.

This extension allows Technology Minerals additional time to thoroughly evaluate the asset’s scale, grade continuity, and value within its Mantle strategy framework. The company highlights that the permit extension secures ongoing access to an advanced copper-cobalt-nickel project that could bolster UK technology, energy, and defence supply chains by enhancing critical mineral resilience. The extension does not obligate significant further spending, with any subsequent work phases planned in alignment with capital discipline and potential strategic partnerships.

High-Grade Mineralisation Confirmed at Aramo Mine

Exploration under the St Patrick Licence has revealed significant mineralisation at the historic Aramo Mine. Technology Minerals completed a lithogeochemical sampling survey confirming high-grade copper-cobalt-nickel mineralisation. Underground grab samples from Level 3 and four historically partially stoped areas returned assays up to 28% copper, 1.88% cobalt, and 0.1-1.68% nickel. Additionally, a 3D laser survey of Levels 3 and 4 was completed, providing detailed data to support advanced underground mapping, 3D modelling, and sampling.

The company notes that grab samples are selective and intended to identify mineralisation presence and style, not to represent average grades across the licence. Despite this, the results demonstrate significant mineralised zones and alteration features warranting further investigation. A broad characterisation study of alteration and mineralisation zones on Levels 3 and 4 has been completed, laying groundwork for future asset evaluation.

Alignment with Mantle Strategy and UK Critical Minerals Objectives

Technology Minerals is assessing St Patrick against criteria aligned with its Mantle strategy, which positions the company as a national resilience entity focused on securing the UK’s sovereign supply of critical minerals. The project’s potential to enhance UK and European supply security for copper, cobalt, and nickel is being evaluated, alongside its capacity to support domestic processing and manufacturing and attract strategic industry and government partners. These three minerals are designated critical in the UK, essential for power transmission, battery storage, high-performance alloys, and defence systems.

The UK currently lacks domestic primary production of copper, cobalt, and nickel, creating supply vulnerabilities. Mantle aims to reduce dependence on third-country supply agreements by securing resources and manufacturing capabilities. St Patrick is one of few European assets with exposure to all three critical metals, positioning it as a key contributor to Technology Minerals’ upstream resource pillar and the UK’s critical minerals supply chain resilience.

Underground Drilling Campaign Pending Regulatory Approval

The St Patrick permit extension is subject to a regulatory condition: the planned underground drilling campaign at Aramo Mine requires separate authorisation under application AUTO/2026/24415, which remains under review by the regional mining authority. Technology Minerals describes this phased regulatory process as consistent with its strategy of measured, de-risked project advancement, allowing for staged development and regulatory oversight.

This approach aligns with the company’s capital discipline framework, balancing exploration and development goals with financial resources and portfolio priorities. Separating permit extension from drilling approval enables Technology Minerals to maintain the licence while conducting further evaluation, pending regulatory review of the drilling application. No timeline for the drilling approval decision was disclosed.

Mantle Strategy and Critical Minerals Platform Overview

Technology Minerals’ Mantle strategy comprises three pillars: Natural Resources, covering domestic reclamation, extraction, international exploration, and stockpiling led by Recyclus Group and exploration assets; Critical Capabilities, focused on midstream and downstream capacity; and an Enabling Ecosystem, involving partnerships and investments to anticipate emerging needs. This strategy aligns with the UK Government’s Critical Minerals Strategy (Vision 2035), targeting domestic production, recycling, and diversification of supply sources.

The company plans an initial consolidation phase to reset its balance sheet and activate existing assets, followed by execution of near-term value-generating opportunities aligned with UK defence and resilience priorities. St Patrick represents an international exploration asset supporting the upstream resources pillar, complementing the company’s efforts to develop downstream processing capabilities within the UK.

Asturmet Project Acquisition and Strategic Context

In August 2021, Technology Minerals acquired the broader Asturmet Project, focusing on cobalt-nickel-copper mineralisation across multiple permits in Asturias. The St Patrick Licence, including the historic Aramo Mine, forms part of this portfolio. This acquisition marked the company’s entry into Spanish copper-cobalt-nickel exploration, adding an international dimension to its resource base.

Details of the acquisition price and terms were not disclosed. The company’s mineral exploration assets, including St Patrick and Asturmet, fall under the Natural Resources pillar of Mantle. The permit extension signals Technology Minerals’ confidence in the asset’s prospects, supported by systematic geological and engineering work such as sampling, surveying, and characterisation prior to committing to large-scale drilling or development.

Management Highlights Strategic Importance and Capital Discipline

Chief Operating Officer Nick Bridle stated that securing the extension "protects an important, advanced exploration asset and gives us the time we need to assess, within the Mantle framework, how best to deploy it in support of UK's critical minerals and defence resilience agenda." He emphasized the focus on "value-accretive decisions for shareholders made in partnership with industry" and confirmed that "the extension itself does not commit the Company to material further spend, consistent with the capital discipline supporting Mantle."

Head of Exploration and Development Lester Kemp remarked that "St Patrick has the potential to become a flagship European copper-cobalt-nickel project of its type," noting the high-grade mineralisation identified so far as a strong foundation for further evaluation. He highlighted the importance of developing domestic and European sources of these critical metals to reduce reliance on non-European supplies, describing St Patrick as a rare asset with exposure across all three.

UK Critical Minerals Supply Challenges and Industry Drivers

The UK currently lacks domestic primary production of copper, cobalt, and nickel, creating vulnerabilities for critical technologies and defence applications. These minerals are designated critical in the UK, vital for power transmission, battery storage, high-performance alloys, and defence platforms. This supply gap has gained prominence in UK policy discussions on national resilience and strategic autonomy, especially regarding renewable energy and defence modernisation.

The UK Government’s Critical Minerals Strategy (Vision 2035) sets targets for domestic production and supply diversification. Technology Minerals’ Mantle strategy aligns with this agenda, positioning the company as a driver for critical minerals self-sufficiency. The St Patrick permit extension reflects growing sector and government interest in securing European sources to support UK and European supply chains. The July 2026 announcement coincides with heightened policy focus on supply chain resilience for battery metals essential to the energy transition and defence upgrades.

Regulatory Structure and Phased Development Model

Technology Minerals’ approach to St Patrick follows a staged regulatory framework in Spain, where permit extension and drilling authorisation are distinct processes. The permit extension was approved based on the submitted plan of work, while the planned drilling campaign requires separate approval under file reference AUTO/2026/24415, currently under review. This framework allows continuation of surface and underground sampling while drilling plans undergo regulatory scrutiny.

This staged approach aligns with Technology Minerals’ measured, de-risked project advancement strategy. The company has completed extensive characterisation activities—including lithogeochemical sampling, underground grab sampling, 3D laser surveys, and broad alteration studies—within the current permit scope before drilling. Separating permit extension from drilling approval is standard in Spanish mining regulation and reflects oversight of underground operations at historic mines.