# Stillwater Critical Minerals Files NI 43-101 Technical Report for the Updated Stillwater West Mineral Resource Estimate in Montana, USA Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/stillwater-critical-minerals-files-ni-43-101-technical-report-for-the-updated-st--20de4e94-bd00-433e-bab8-8a23cce45675 Original source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/677-tsx-venture/pge/213076-stillwater-critical-minerals-files-ni-43-101-technical-report-for-the-updated-stillwater-west-mineral-resource-estimate-in-montana-usa.html Publisher: jmn Original announcement: 2026-10-19T00:37:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-19T12:39:34.628Z Atlas analysis updated: 2026-10-19T12:39:34.628Z - Company: Stillwater Critical Minerals Corp. - Ticker: PGE - Exchange: TSXV - Region: Montana, USA - Primary commodity: Nickel - Secondary commodities: Copper, Cobalt, Platinum, Palladium, Gold, Rhodium, Chromium - Document categories: Resource update, Other - Extracted: 2026-10-19 12:39:35 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Stillwater Critical Minerals has filed an NI 43-101 Technical Report supporting its updated 2026 Mineral Resource Estimate at the Stillwater West project in Montana. The estimate includes a maiden Indicated Resource of 29.4 Mt at 0.38% NiTEq and an expanded Inferred Resource of 805.1 Mt at 0.34% NiTEq. Reasoning: The document is a filing of a technical report supporting a previously announced resource update. While the resource itself is significant \(maiden indicated\), the news is a regulatory filing of the report rather than the initial announcement of the resource numbers. - Positive factor: Establishment of first Indicated Mineral Resource - Positive factor: Significant expansion of Inferred Mineral Resource - Positive factor: Large scale of critical minerals \(Ni, Cu, Co, PGEs, Cr\) - Positive factor: Strategic location in active U.S. mining district Facts used in scoring: 3 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The document explicitly states the technical report was prepared in accordance with NI 43-101 standards. Evidence · text > prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects \("NI 43-101"\) **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The company has established its first Indicated Mineral Resource. Evidence · text > established its first Indicated Mineral Resource ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/stillwater-critical-minerals-files-ni-43-101-technical-report-for-the-updated-st--20de4e94-bd00-433e-bab8-8a23cce45675#fact-resource-facts-0) Stillwater West · nickel #### Identity - Project: Stillwater West - Commodity: nickel - Region: usa\_mt - Reported Region: Montana, USA - Ticker: PGE #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Timothy O. Kuhl, Ted Eggleston - Resource group id: resource:90930581671fe50bdaf5 - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 29400000 - Cutoff Grade: 0.2 - Cutoff Unit: % NiTEq #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Metal Eq. Grade: 0.38 - Metal Eq. Unit: % NiTEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: First Indicated resource established for the project. - Positive factor: Maiden Indicated Resource Evidence · text > First Indicated Mineral Resource: 29.4 million tonnes \("Mt"\) grading 0.38% total nickel equivalent \("NiTEq"\) at a 0.20% NiTEq cut-off grade. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/stillwater-critical-minerals-files-ni-43-101-technical-report-for-the-updated-st--20de4e94-bd00-433e-bab8-8a23cce45675#fact-resource-facts-1) Stillwater West · nickel #### Identity - Project: Stillwater West - Commodity: nickel - Region: usa\_mt - Reported Region: Montana, USA - Ticker: PGE #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Timothy O. Kuhl, Ted Eggleston - Resource group id: resource:6cb20b85e1e87d58ab3e - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 805100000 - Cutoff Grade: 0.2 - Cutoff Unit: % NiTEq #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Metal Eq. Grade: 0.34 - Metal Eq. Unit: % NiTEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Significant expansion of the inferred resource scale. - Positive factor: More than doubled Inferred resource Evidence · text > Expanded Inferred Mineral Resource: 805.1 Mt grading 0.34% NiTEq at a 0.20% NiTEq cut-off grade. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/stillwater-critical-minerals-files-ni-43-101-technical-report-for-the-updated-st--20de4e94-bd00-433e-bab8-8a23cce45675#fact-resource-facts-2) Stillwater West · chromium #### Identity - Project: Stillwater West - Commodity: chromium - Region: usa\_mt - Reported Region: Montana, USA - Ticker: PGE #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Timothy O. Kuhl, Ted Eggleston - Resource group id: resource:18c3b8a193dd2b939a91 - Ownership percent: 100 % #### Resource Data - Category: inferred - Contained Metal: 6.6 - Contained Unit: billion pounds #### Prior Estimate - Resource Date: 2026-10-16 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-10-19T00:00:00.000Z Reasoning: Large chromium resource identified in the inferred category. - Positive factor: Significant additional chromium resource Evidence · text > An estimated 6.6 billion pounds of chromium in the Inferred category #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.