Rapid Critical Metals Advances NSW Silver Projects and Confirms High-Grade Ga-Ge in Canada

Bonanza-Grade Silver Intercepts Reinforce Webbs Potential

Rapid Critical Metals (ASX:RCM) continues to build momentum at its flagship Webbs Silver Project in New South Wales, delivering additional bonanza-grade silver intercepts from the final six diamond drill holes of a recent 2,057-metre program. Highlights include a staggering 0.59 metres at 4,216 g/t silver equivalent (AgEq) within a broader 2.5 metres at 1,075 g/t AgEq from 39.5 metres depth (hole WSDD011), alongside other strong intercepts such as 1.0 metre at 754 g/t AgEq (WSDD009) and 1.85 metres at 453 g/t AgEq (WSDD008).

These results confirm the presence of multiple high-grade lodes, including newly identified sub-parallel mineralised structures beyond the existing Main Lode, with mineralisation remaining open along strike and at depth. This reinforces the project's exploration upside and supports the planned 15,000-metre drilling campaign for 2026.

Rapid’s Managing Director Byron Miles emphasised the significance of these findings, noting the strong continuity and potential scale of the Webbs system. The company is preparing to integrate these new results into updated geological and resource models, positioning itself for a sustained news flow in the coming months. This drilling success follows earlier announcements of a new parallel silver lode discovery and a strategic acquisition of the Webbs Consol Silver Project, underpinning Rapid’s NSW focus and growth strategy Rapid Critical Metals Confirms Bonanza-Grade Silver Continuity at Webbs.

Scoping Study with METS Engineering Group to Unlock Project Value

In January, Rapid appointed METS Engineering Group, a firm with over 30 years of global metallurgical expertise, to undertake a scoping study on its NSW silver assets, including the Conrads, Webbs, and Webbs Consol projects. The study encompasses sighter test work and a comprehensive assessment aimed at establishing a robust technical foundation for high-grade silver production.

Early metallurgical trials, including TOMRA ore sorting tests, have yielded promising results, leading to a 700-kilogram bulk sample test to validate processing efficiencies at scale. The scoping study is slated for completion late in the current quarter, and its findings will be pivotal in advancing the projects toward development.

Tooloom Acquisition Expands NSW Silver Footprint

Subsequent to the quarter’s end, Rapid secured an 80% controlling interest in Green Copper Pty Ltd, owner of EL 9681, the Tooloom Silver Project in northern NSW. This acquisition expands Rapid’s NSW landholding by nearly a third, adding 121 square kilometres of historic silver territory with over 80 historic workings and multiple high-grade drill-ready targets.

Historical drilling at Tooloom has returned impressive silver equivalent grades, including 2 metres at 294 g/t AgEq from 26 metres and 1 metre at 341 g/t AgEq from 29 metres. Several high-grade surface samples remain untested, such as 1,660 g/t silver at Silver King North and 671 g/t silver with 7 g/t gold at the Philippines Block. The acquisition complements Rapid’s existing NSW portfolio and adds polymetallic potential with gold, copper, and antimony targets. This deal builds on Rapid’s recent strategic NSW expansions and reflects its commitment to consolidating high-grade silver assets in a tier-one jurisdiction Rapid Critical Metals Expands NSW Silver Portfolio with Tooloom Acquisition.

Prophet River Project Confirms High-Grade Strategic Metals

In Canada, Rapid’s Prophet River Gallium-Germanium Project in British Columbia continues to validate its strategic metals potential. Rock chip sampling confirmed historic high-grade mineralisation with assays up to 763 g/t germanium and 65.5 g/t gallium, consistent with previous records.

Complementary geophysical surveys, Induced Polarisation (IP) and Audio-Frequency Magnetotelluric (AMT), have delineated five priority, drill-ready anomalies, three of which lie near historic drilling and known mineralised showings. These geophysical targets include previously untested zones, offering compelling first-pass drilling opportunities once seasonal conditions permit.

Rapid is advancing drilling applications and contractor engagement, aiming to mobilise efficiently to test these targets. The project’s high-value strategic metals, essential in semiconductors, solar cells, and advanced technologies, position Rapid well amid rising commodity prices and geopolitical export restrictions on germanium and gallium. This Canadian focus complements Rapid’s NSW silver strategy, reflecting a dual-asset approach to growth Rapid Critical Metals Confirms High-Grade Gallium-Germanium at Prophet River.

Corporate Developments and Financial Position

Rapid repaid in full a US$379,500 unsecured bridging note inherited from its 2024 acquisition of Midwest Lithium Limited, settling half in cash and half in shares at a deemed price of AUD 7.5 cents. The company also transitioned its shareholder registry services to Automic Pty Ltd, aiming to enhance shareholder engagement with a more accessible online portal.

Financially, Rapid closed the quarter with over A$8.5 million in cash, after spending approximately A$1.45 million on exploration across Australia and Canada. No mining or production activities were undertaken during the period, consistent with Rapid’s exploration and development phase. The company holds over 18 million shares in Iris Metals Limited (ASX:IR1), adding to its strategic holdings.

Rapid’s focus remains on advancing its high-grade assets in tier-one jurisdictions, leveraging strong technical momentum and a well-funded position to execute its 2026 exploration and study programs.