Final Option Payments Made Re Teck-Hughes

Fulcrum Metals plc / EPIC: FMET / Market: AIM / Sector: Mining

27 November 2025

Fulcrum Metals plc

("Fulcrum" or the "Company" or the "Group")

Teck-Hughes Gold Tailings Project - Final Option Payments Made

Fulcrum Metals plc (AIM: FMET), a company pioneering the use of innovative cyanide free technology to recover precious and critical metals from mine waste, is pleased to announce that it has made final payments of CAD$275,000 to the optionors under the Mining Option Agreement relating to the Teck-Hughes Gold Tailings Project, located in Kirkland Lake, Ontario, Canada and in accordance with the terms set out in the Company's announcement released on 30 November 2023.

These final payments complete all cash consideration requirements associated with the option to acquire a 100% interest in the Teck-Hughes Gold Tailings Project.

Fulcrum has now exercised the option to acquire a 100% interest in the Teck Hughes project, and the optionors will be granted a 3% Net Smelter Return (NSR) royalty. As previously announced, Fulcrum retains the right to reduce the NSR royalty to 1.5% through buy-back provisions at any time.

Ryan Mee, Chief Executive Officer of Fulcrum Metals plc, commented: "The completion of the final option payments marks an important milestone in Fulcrum's strategy to unlock value from historic tailings assets using innovative and sustainable processing technologies. We will keep shareholders updated as we advance the Teck-Hughes project through the next stages of evaluation and development towards production."

Teck-Hughes Gold Tailings Project Background

Historic sampling and auger drilling campaigns were conducted at the project, the first in 1980 and the most recent between 2018 and 2022 which produced a non-compliant resource estimate.

From this work 95 auger samples were collected and assayed at Actlab in Timmins. Based on the data from this sampling, along with that of the drill programme from 1980, an estimate of the tonnage was calculated over the north, west and northeast arm of the tailings totaling 6,531,300 tonnes of material at 0.66g/tonne Au for 138,460 ounces contained Au. This estimate remains to be verified by Fulcrum.

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Notes to Editors

About Fulcrum Metals PLC

Fulcrum Metals PLC (AIM: FMET) is an AIM listed technology led natural resources company focused on recovery of precious metals from mine tailings (previously milled and processed ore) in Canada using environmentally friendly leaching technology developed by Extrakt Process Solutions LLC and its associates (together "Extrakt"). The Company's projects are the tailing sites of the former Teck-Hughes and Sylvanite gold mines, located at the Kirkland Lake region in Ontario. In addition, the Company has interests in a portfolio of highly prospective mineral exploration and development projects in both Ontario and Saskatchewan Canada.

Fulcrum has exclusive rights to use Extrakt's proven cyanide free technology on gold mine waste sites over the mining districts of Timmins and Kirkland Lake. These are two of Canada's biggest gold camps with a historical production above 110Moz over the past 100 years, leaving and more than 70 documented legacy mine waste sites. Fulcrum thus has the opportunity to become a significant, environmentally friendly, near-term gold producer.