California Mine Unlocks High-Grade Antimony, Boosting US Supply Hopes

SAN BERNARDINO, CA – May 21, 2026 – Locksley Resources has announced the discovery of significant high-grade antimony mineralization at its historic Desert Antimony Mine, a pivotal development that could help secure a domestic supply chain for one of America's most critical minerals.

The Australian-based company confirmed that its first-ever drill program at the Mojave Project site intersected substantial antimony veins well below the historical underground workings. The results arrive at a time of heightened geopolitical tension over strategic resources, as the United States aggressively seeks to reduce its heavy reliance on foreign nations, particularly China, for materials essential to national security and advanced industries.

A Critical Discovery in the Mojave

Locksley's maiden drill program, completed in April 2026, has validated the company's geological models and confirmed the presence of rich antimony deposits. Six of the eight completed drill holes returned significant intersections, with results demonstrating the project's high-grade potential.

Highlights include a peak value of 33.51% antimony over a 0.4-meter section, contained within a broader intercept of 4.0 meters at 4.87% antimony. These findings confirm that the mineralization, historically mined near the surface, extends to significant depths. Mineralized veins were intersected as deep as 90 meters below the old mine shafts, suggesting a much larger system than previously understood.

"Diamond drilling of the historic Desert Antimony Mine represents the first test of the depth extensions of known antimony mineralization beneath the historical workings," said Ian Stockton, non-executive technical director at Locksley. He added, "The results are consistent with the observations from surface sampling and underground mapping and are continuing to be evaluated in the context of our evolving geological model."

This geological confidence is further bolstered by recent mapping that expanded the potential mineralized corridor at the prospect by 400%, from 0.3 kilometers to 1.2 kilometers, indicating a substantial target for future exploration and development.

The Antimony Imperative for U.S. Security

Designated a critical mineral by the U.S. government, antimony is a silvery metalloid with unique properties that make it irreplaceable in numerous high-stakes applications. It is a key component in flame retardants used in everything from plastics and textiles to military equipment. It also enhances the performance and longevity of lead-acid batteries vital for energy storage and backup power systems.

Crucially, antimony is indispensable for national defense. It is used in the production of armor-piercing ammunition, night vision goggles, infrared sensors, explosives, and nuclear weapons components. Despite its importance, the U.S. has virtually no primary domestic production, importing the vast majority of its supply. China currently dominates the global market, controlling nearly 80% of the world's antimony production.

This supply chain vulnerability has prompted a concerted effort by the U.S. government to foster domestic sources through initiatives like the Defense Production Act (DPA). The potential development of the Desert Antimony Mine aligns directly with this national security objective, representing a rare opportunity to establish a primary, high-grade antimony source on American soil.

Forging a Domestic 'Mine-to-Market' Supply Chain

Locksley Resources is pursuing more than just a traditional mining operation; it is executing a comprehensive 'mine-to-market' strategy aimed at rebuilding the entire domestic antimony supply chain. This involves pioneering downstream processing and forming strategic partnerships with leading U.S. institutions.

A key milestone was recently achieved when the company, in partnership with Colorado-based Hazen Research Inc., produced a 100% American-made antimony ingot using ore from the Desert Antimony Mine. This marked the return of domestic antimony metal production after a 24-year hiatus. The two companies have since signed a Memorandum of Understanding for toll treating ore, a move that accelerates Locksley’s path to revenue and provides immediate U.S. processing capacity.

Furthermore, Locksley has forged a research alliance with Rice University to advance a novel processing technology called DeepSolv. This partnership aims to create an efficient, U.S.-based method for refining antimony and exploring its use in next-generation energy storage, with Locksley co-owning the resulting intellectual property.

Underpinning the Venture with Financial and Regulatory Momentum

The project's strategic importance has attracted significant institutional interest. Locksley has received a non-binding Letter of Interest (LOI) for up to US$191 million in potential project financing from the U.S. Export-Import Bank (EXIM). This endorsement from a U.S. government agency underscores the project's alignment with national priorities.

Financially, the company is well-positioned to advance its goals, reporting over $20 million in cash as of December 2025, which fully funds its 2026 development milestones, including ongoing drilling programs for both antimony and rare earth elements at the broader Mojave Project. The company's progress has also been enabled by successfully navigating the regulatory landscape, having received approval for its Plan of Operations from the U.S. Bureau of Land Management (BLM) in July 2025, clearing the way for the current exploration activities.

With confirmed high-grade mineralization, a clear strategic vision, strong financial backing, and alignment with U.S. national security interests, the Desert Antimony Mine is poised to become a cornerstone of America's push for critical mineral independence.