AI Exploration Update, Financing & Issue of Equity

17 October 2025

Focus Xplore PLC

('Focus Xplore' or the 'Company')

 AI Exploration Update and Financing

Issue of Equity & TVR

Focus Xplore PLC (AIM: FOX), the strategic energy and critical minerals exploration and development company, announces progress has been made in respect of the Company's Artificial Intelligence ("AI") driven exploration following its ongoing collaboration with Planetary AI Limited ("Planetary AI"), announced earlier this year1:

- Identified prospective critical mineral targets in Ontario, Canada, as outlined below;

- Successfully developed and deployed customised AI toolbox, purpose-built to harness 'Big Data' resources available across Northwestern Ontario; and

- Secured a strategic first-mover advantage with exclusive agreement across Ontario and shortlist of further jurisdictions in pipeline.

As a result of the progress made and to fund underlying working capital needs as well as settling creditors, a financing (the "Financing") has been undertaken to support the rapid advancement of AI work programmes and the launch of the new 'Focus Xplore AI Discovery Engine', a first of its kind, with the intention of enabling potential project discoveries.

The oversubscribed Financing raises £387,000 in cash via the issue of 967,500,000 new ordinary shares at an issue price of 0.04p per new ordinary share ("Placing Shares"). Full details in respect of the Financing are outlined below.

In addition, to concentrate cash reserves for active operational exploration, the Company will issue a further 142,500,000 new ordinary shares on the same terms as the Financing to settle fees of £57,000 (the "Fee Shares") in respect of general operational activities and communications support, including £10,000 Fee Shares to be issued to Planetary AI Limited ("Planetary AI") as part payment for committed work flows.

Finally, the Chief Executive Officer, Chairman and two Non-executive directors of the Company are to subscribe for shares totalling £40,000 through the issue of 100,000,000 new ordinary shares on the same terms as the Financing, as payment in lieu of salary and for director fees ("Director Shares").

Patrick Cullen, Chief Executive Officer of Focus Xplore, commented:

"We are excited to introduce and expand the innovative 'Focus Xplore AI Discovery Engine' and look forward to providing updates on progress as our projects evolve and new opportunities emerge as we drive our AI strategy ahead.

AI has become central to our model, enhancing efficiency, cutting costs, and de-risking our decision-making process. Our partnership with Planetary AI and use of their Xplore system has delivered exciting opportunities, and this now being expanded across more mineral targets and I am also pleased to have them participating in the placing, demonstrating their commitment to the planned programmes.

We have identified a proprietary AI capability as a cornerstone of our future growth strategy. Whether through development or acquisition, this initiative represents a transformative opportunity to unlock new value, drive innovation, and position Focus Xplore at the forefront of AI-driven exploration. I look forward to advancing this strategy with urgency and purpose."

FINANCING DETAILS

The Company has undertaken the Financing to raise £387,000 through the issue of 967,500,000 new Placing Shares at an issue price of 0.04p. In addition the Company is to issue 142,500,000 new Fee Shares at an issue price also of 0.04p in settlement of invoices relating to geological, operational and communications services. Finally, the Company is to issue 100,000,000 new Director Shares at an issue price also of 0.04p in lieu of salary and settlement of Director fees.

Each Financing and Fee Share will have one half warrant attached with the right to subscribe for one new ordinary share at an exercise price of 0.07p (the"Financing Warrant") with a life to expiry of 2.5 years from the date of admission of the Financing Shares, as outlined below, resulting in the creation of 605,000,000 Financing Warrants.

In additional for every Financing Warrant exercised an additional warrant will be issued to subscribe for one new ordinary share at an exercise price of 0.1p (the "Super Warrant") and a life to expiry of four years from the date of admission of the Financing Shares, as outlined below, resulting in the creation of up to 605,000,000 Super Warrants. The issue of the Super Warrants are subject to shareholder approval at a General Meeting of the Company, further details of which will be announced in due course.

DIRECTOR'S HOLDINGS

Directors of the Company are to participate as follows:

Mr Cullen, Mr Wade, Mr Maree and Mr Scheepers (the "Directors") subscriptions constitute a related party transaction in accordance with AIM Rule 13. Accordingly, James Tosh, Non-executive director of the Company, having consulted with Beaumont Cornish Limited, the Company's nominated adviser, considers that the terms of the Directors' participation in the Financing are fair and reasonable insofar as the Company's shareholders are concerned.

THE FOCUS XPLORE AI DISCOVERY ENGINE

Mineral exploration can be a gateway to unlocking the socio-economic benefits of strategic energy and critical minerals resources while safeguarding sustainability and protecting long-term national interests. For governments, industry exploration firms, and mining companies, efficient identification of geologically promising areas enables smarter resource allocation, attracts responsible investment, and reduces environmental and economic risks. Advanced digital tools and the application of AI is transforming the mineral exploration space.

With its roots going back to 2011 at International Geosciences Services (a commercial spin out from the British Geological Survey1), Planetary AI have placed its Xplore system at the forefront of this transformation, combining advanced geological knowledge with cutting-edge machine learning to deliver transparent, data-driven interpretations. Using over 57 deposit models and a geological database spanning 45 countries, Xplore generates prospectivity maps which are grounded in proven geological principles that integrate 'Human intelligence' and knowledge with AI capability. The 'glass box' approach, or explainable AI, not only clarifies uncertainty and reduces exploration costs, but also identifies prime mineral targets with precision. Already deployed globally, Xplore supports governments and industry in defining resource value, promoting natural resource opportunities, and incentivising inward investment into the minerals sector.

In partnership with Focus Xplore, Planetary AI has developed bespoke AI tools tailored specifically for Ontario's geological landscape. These tools integrate regional geochemical, geophysical, and remote sensing datasets to enhance early-stage exploration across underexplored terrains and to identify and rank critical mineral targets. By working with Planetary AI to design algorithms specific to Ontario's unique geology, Focus Xplore is pioneering an exciting era of mineral targeting-positioning the 'Focus Xplore AI Discovery Engine' as a technological leader in Canada's mineral exploration frontier.

Prospective critical mineral targets in Ontario, Canada:

By applying machine learning to a geochemical database composed of lake sediment samples (containing over 35,000 individual multi-element data points), exploration targets were identified within specific catchment areas that were previously overlooked through conventional methods. The targets exhibit distinctive elemental suites-geochemical fingerprints-that suggest the potential presence of concealed rare earth element (REE), lithium and uranium deposits. The algorithm is able to detect subtle, multivariate patterns in the data difficult to discern through conventional analysis, opening fresh possibilities for mineral discovery in previously overlooked terrains. The Company will continue to review results from this work and seek to extend, expand or acquire rights where appropriate.

Customised AI toolbox

A cutting-edge AI tool, purpose-built for Focus Xplore, has harnessed high-resolution raw LiDAR data across lake catchment zones to reveal previously unseen geological patterns and interpretations in vast, unexplored terrains. Most of these regions have not undergone mineral exploration for the critical minerals the Company is targeting. LiDAR's ability to penetrate dense vegetation unveils surface features with remarkable clarity-technology that has already revolutionised archaeological discovery by exposing hidden ancient settlements in the Amazon rainforest and now being applied in the field for mineral exploration. Applied to geology, this capability detects subtle surface variations that would be imperceptible to the human eye. The immense volume and granularity of LiDAR datasets make manual analysis impractical. However, machine learning algorithms can amplify these faint signals and translate them into meaningful geological insights.

Satellite-based hyperspectral imaging was also employed to refine exploration targets, particularly in more exposed terrains. This technology proved invaluable for detecting the spectral signatures of pegmatites. By analysing the unique reflectance patterns across hundreds of narrow spectral bands, hyperspectral data enabled the identification of subtle mineralogical variations that traditional remote sensing methods might overlook-further strengthening the case for potential subsurface deposits in these regions.

LiDAR image processing2 across selected project areas within the Company's portfolio revealed surface patterns that indicated areas of positive relief that are indicative of an intrusion into the country rock that were interpreted as pegmatites-geological bodies known to host lithium-caesium-tantalum (LCT) deposits under the right conditions. When these LiDAR-derived features were overlaid with hyperspectral data tuned to spectral indices associated with pegmatitic minerals, clear correlations emerged across exposed areas. This convergence between datasets provided strong validation of the remote sensing approach and prompted the deployment of field teams to investigate specific targets. On the ground, pegmatites were discovered precisely where the system had predicted-an impressive confirmation of the methodology. The accuracy of the prediction significantly boosts confidence in the integrated exploration strategy, which is now being expanded to broader regions.3

Identified high-impact discovery potential

The Company has already conducted LiDAR and hyperspectral analyses across other parts of the portfolio and elsewhere that has already identified significant targets for follow-up. These targets include evidence of further pegmatites which may be associated with hard rock lithium and REE targets. Although to date the Company has been focused on identifying signs of REE, lithium and uranium deposits the datasets do allow the Company further expansion in the identification of other deposit types to add to its target portfolio. The Company believes its pioneering approach-developed in collaboration with Planetary AI-represents a breakthrough in early-stage mineral exploration across Ontario's underexplored regions. As a first mover in applying advanced AI and remote sensing technologies to these terrains, Focus Xplore holds a significant strategic advantage. The Company has committed funds to a series of work streams with Planetary AI. This exclusive arrangement with Planetary AI covering the entire Ontario jurisdiction, positions the Company to uncover a major discovery-leveraging cutting-edge data science to illuminate geological potential where that potential has been overlooked.

ADMISSION AND TOTAL VOTING RIGHTS

An application will be made for the admission of the Financing, Fee and Directors Shares to trading on AIM (the "Admission"). Admission is expected to occur on or around 23 October 2025.

Following Admission, there will be a total of 3,479,420,573 ordinary shares in issue with each ordinary share carrying the right to one vote. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been reviewed and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a principal consultant working for Mining Analyst Consulting Ltd which is providing independent technical review to Focus Xplore PLC.

Glossary

LiDAR - an acronym of 'light detection and ranging' is a method for determining ranges by targeting an object or a surface with a laser and measuring the time for the reflected light to return to the receiver. In the field of mining and exploration it is commonly used to make high resolution digital three-dimensional representations of the Earth's surface which can help identify key geological structures or characteristics associated with possible mineralising events.

Lithium-caesium-tantalum (LCT) pegmatites - are highly fractionated granitic rocks enriched in rare metals, forming important sources of lithium (spodumene), caesium (pollucite), and tantalum (tantalite). Such pegmatites are the principal source of lithium and comprise a compositionally defined subset of granitic pegmatites.

References

1 RNS Update on Fundraising, Issue of Equity & Business Update, 17 April 2025  (https://polaris.brighterir.com/public/focusxplore/news/rns/story/w3ym8yx)

2 RNS Exploration Update, 02 June 2025 (https://polaris.brighterir.com/public/focusxplore/news/rns/story/x56kk2r)

3 RNS Exploration Update, 28 August 2025(https://polaris.brighterir.com/public/focusxplore/news/rns/story/xpkq83r)

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

**ENDS**

Enquiries:

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.