Stillwater Critical rallies on Montana resource update
Stillwater Critical Minerals Corp., [PGE-TSXV, PGEZF-OTC, 5D32-FSE] shares rallied Thursday after the company announced an updated and expanded mineral resource estimate for its flagship Stillwater West critical minerals project in Montana.
The shares advanced on the news, jumping 13.8% or $0.055 to 45.3 cents and trade in a 52-week range of 66.5 cents and 23.7 cents.
The company said the updated estimate includes 805.1 million tonnes of inferred resources grading 0.34% total nickel equivalent (NiTeq) containing 4.8 billion pounds of nickel, copper and cobalt and 7.4 million ounces of platinum, palladium, gold and rhodium in a base case model using 0.20% NiTEq cut-off grade. The latest estimate also includes a further 29.4 million tonnes of indicated material grading 0.38% NiTEq containing 190 million pounds of nickel, copper and cobalt, and 0.359 million ounces of platinum, palladium, gold and rhodium. Higher cut-off grades at 0.35% and 0.50% NiTEq are presented in Thursday’s press release as a sensitivity representing higher-grade zones.
Stillwater Critical Minerals is an exploration and development company with a focus on advancing the 100%-owned Stillwater West nickel, platinum group elements, copper, cobalt, chromium and gold project located in the Stillwater mining district of Montana. Stillwater West is directly adjacent to Sibanye-Stillwater Ltd.’s operating Stillwater mines and processing infrastructure, the only primary platinum group element-producing complex in the United States.
The NI 43-101 compliant mineral resource estimate released in August 2026 positions Stillwater West as one of the largest nickel and platinum group element resources in the United States and includes ten metals currently listed as critical.
With strategic investments by Glencore Plc and an experienced technical team with expertise in Bushveld- and Platreef-style systems, the company is advancing Stillwater West via ongoing resource expansion, resource upgrades and technical studies.
Stillwater also holds a 49% interest in the high-grade Drayton-Black Lake-gold project adjacent to NexGold Mining Corp.’s [NEXG-TSXV] development-stage Goliath Gold Complex in northwest Ontario, currently under an agreement with Heritage Mining Ltd. [HML-CSE, Y66-FRA] and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum Corp.’s [NCP-TSXV] Wellgreen deposit in Canada’s Yukon Territory. The company also holds the Duke Island Cu-Ni-PGE property in Alaska and maintains a back-in right on the high-grade past producing Yankee-Dundee in British Columbia following its sale in 2013.
“This updated mineral resource estimate marks and important step forward for Stillwater West,’’ said Stillwater Critical Minerals President and CEO Michael Rowley. “Beyond the substantial increase in the estimated tonnage and contained metal, the establishment of our first indicated mineral resource and the continued refinement of our geological model significantly enhances our understanding of this large and evolving mineral system.’’
He said the 2026 resource estimate provides a stronger technical foundation for advancing metallurgical studies, engineering and future economic evaluation, while reinforcing the company’s belief that Stillwater West ranks among North America’s most significant undeveloped polymetallic critical minerals projects.