# 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--b13fb8d1-1b5a-47a9-acdc-8e1f5b582b1d Original source: https://orestocks.com/company/PGE.V/press-releases/6321116261527606 Publisher: orestocks Original announcement: 2026-10-19T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-19T12:17:40.412Z Atlas analysis updated: 2026-10-19T12:17:40.412Z - Company: Stillwater Critical Minerals Corp. - Ticker: PGE - Exchange: Unavailable - Region: Montana, USA - Primary commodity: Nickel - Secondary commodities: Copper, Cobalt, Platinum, Palladium, Gold, Rhodium, Chromium - Document categories: Resource update - Extracted: 2026-10-19 12:17:41 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Stillwater Critical Minerals has filed an NI 43-101 Technical Report for its Stillwater West project in Montana. The report supports an updated Mineral Resource Estimate that establishes the project's first Indicated Resource and significantly expands the Inferred Resource. Reasoning: The announcement confirms the filing of a technical report supporting a significant resource upgrade \(first Indicated resource\) and massive scale, though the actual resource numbers were previously announced in August 2026. - Positive factor: Establishment of first Indicated Mineral Resource - Positive factor: Significant expansion of Inferred Mineral Resource - Positive factor: Large scale of contained critical minerals - Positive factor: NI 43-101 Technical Report filed Facts used in scoring: 3 ## Classification and evidence **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The company established its first Indicated Mineral Resource from previously Inferred resources. Evidence · text > established its first Indicated Mineral Resource **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The announcement explicitly states the filing of an NI 43-101 Technical Report. Evidence · text > filed an independent technical report \(the "Technical Report"\) prepared in accordance with National Instrument 43-101 **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: The report names independent Qualified Persons Timothy O. Kuhl and Dr. Ted Eggleston. Evidence · text > prepared by Mine Technical Services \("MTS"\), including independent Qualified Persons Mr. Timothy O. Kuhl, RM SME, and Dr. Ted Eggleston, P.Geo. ## 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--b13fb8d1-1b5a-47a9-acdc-8e1f5b582b1d#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 for the project. - Positive factor: First Indicated resource established 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--b13fb8d1-1b5a-47a9-acdc-8e1f5b582b1d#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 the project's Inferred Mineral 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--b13fb8d1-1b5a-47a9-acdc-8e1f5b582b1d#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.