Allied Critical Metals Announces Update on the Second Tranche of Its U.S.$25 Million Equity Financing

Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) (" Allied " or the " Company ") is pleased to announce that further to the news release dated April 24, 2026, the Company is continuing to progress towards closing of the second tranche of the U.S.$25 million non-brokered private placement offering of common shares at a price of $2.05 per share (the " Offering ") in the amount of U.S.$15 million second tranche (the " Second Tranche ") with an existing strategic investor (the " Existing Strategic Investor ") and a new strategic investor (the " New Strategic Investor ", collectively the " Strategic Investors ").

The Existing Strategic Investor has confirmed to the Company its intention to backstop the contemplated investment by the New Strategic Investor in the Second Tranche. The closing of the Second Tranche follows significant due diligence by each of the Strategic Investors.

"The Company is financed to complete its 20,000 metre drilling campaign at the Borralha Project and has already ordered certain long-lead items for the Vila Verde Pilot Plant. Securing the Second Tranche provides further strong support for our plan to fast-track tungsten concentrate production," commented Roy Bonnell, Chief Executive Officer of the Company .

The Second Tranche forms part of a transformational financing that was comprised of U.S.$25 million in equity and a project financing facility in the amount of U.S.$15 million.

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.