REG - First Class Metals - MOU with Valereum to Explore Tokenised Funding

FIRST CLASS METALSAnnouncement

Mon 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250714:nRSN8029Qa&default-theme=true

RNS Number : 8029Q  First Class Metals PLC  14 July 2025

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

FIRST CLASS METALS PLC

Strategic MOU with Valereum Plc to Explore Tokenised Funding for Mineral
Projects

First Class Metals PLC ("First Class Metals" or the "Company"), the UK-listed
exploration company focused on the discovery of economic metal deposits across
its strategic footprint in Ontario, Canada, is pleased to announce that it has
entered into a non-binding Memorandum of Understanding ("MOU") with Valereum
Plc ("Valereum"), a market-leading digital asset infrastructure group listed
on the Aquis Stock Exchange (AQSE: VLRM).

The MOU sets out a framework for both parties to evaluate the potential for
applying regulated tokenisation to fund mineral exploration and development
projects within First Class Metals' asset portfolio.

 

Pioneering a Modern Approach to Project-Level Funding

This strategic collaboration combines First Class Metals' exploration
expertise and project pipeline with Valereum's innovative, regulated digital
asset infrastructure to evaluate the development of a tokenised investment
model for mineral exploration projects.

The initiative aims to create a digital pathway for project-level funding
that:

·    Enables project-level funding through SPV participation, preserving
shareholder value on a non-dilutive basis for the Company's shareholders.

·      Facilitating market access to global investors with direct
participation into high-potential mineral resource projects.

·      Utilises existing regulated legal structures to issue fully
compliant tokens with KYC/AML fulfilment.

·      Supports ESG-aligned, responsible investment structures.

·      Aligns with global investment trends, including the rapid
expansion of the Real-World Asset ("RWA") tokenisation market, forecast to
exceed US$16 trillion by 2030(( 1 )).

The parties believe this represents the first serious attempt by a UK-listed
resource company to apply regulated tokenisation to the mineral exploration
sector - a development that could fundamentally transform how early-stage
mineral exploration projects are financed and advanced.

Specific project selection remains under review, with further announcements to
follow once assets are formally identified. It is emphasised that the MOU is
non-binding and exploratory in nature, and there is no certainty that any
transaction, investment, or tokenisation event will ultimately occur.

By exploring the application of regulated tokenisation to mineral projects,
First Class Metals and Valereum are evaluating how such models could enhance
investor access, support non-dilutive capital formation, and align with the
increasing emphasis on ESG-aligned financing in the resource sector.

It is emphasised that the Company remains committed to its fundamental
identity as a mineral resource exploration company.

 

James Knowles, Chairman of First Class Metals, commented:

"This collaboration represents a bold, forward-thinking approach to unlocking
the value of our highly prospective portfolio while preserving shareholder
value at the PLC level. By partnering with Valereum, a recognised innovator in
regulated digital assets, we are positioning First Class Metals at the
forefront of responsible, modern exploration finance. This has the potential
to reshape how mineral projects like ours are funded, developed, and
ultimately delivered."

Pete Sekhon, Valereum Business Development commented:

 

"I have known James for a number of years, and when this opportunity presented
itself, it made so much sense on many levels. We are excited about exploring
what can be done together. This collaboration represents a pivotal moment in
the evolution of both mining and blockchain. Bringing together Valereum's
expertise in digital assets with FCM's high-quality exploration portfolio in
Canada opens the door to a new era of capital markets access for mining.
Tokenisation offers a route to unlock the value of in-ground resources in a
regulated and accessible way."

 

 

For Further Information:

Engage with us by asking questions, watching video summaries, and seeing what
other shareholders have to say. Navigate to our Interactive Investor hub here:

https://fcm-l.investorhub.com/link/MP7o0P
(https://fcm-l.investorhub.com/link/MP7o0P)

For further information, please contact:

James Knowles, Executive Chair & Managing Director

Email: JamesK@Firstclassmetalsplc.com (mailto:JamesK@Firstclassmetalsplc.com)

Tel: 07488 362641

Marc J Sale, CEO

Email: MarcS@Firstclassmetalsplc.com (mailto:MarcS@Firstclassmetalsplc.com)

Tel: 07711 093532

Novum Securities Limited (Financial Adviser)

David Coffman

Website: www.novumsecurities.com (http://www.novumsecurities.com)

Tel: (0)20 7399 9400

Axis Capital Markets (Broker)

Lewis Jones

Website: Axcap247.com (http://www.axcap247.com)

Tel: (0)203 026 0449

 

 

First Class Metals PLC - Background

 

First Class Metals listed on the LSE in July 2022 and is focused on metals
exploration in Ontario, Canada which has a robust and thriving junior mineral
exploration sector. In particular, the Hemlo 'camp' near Marathon, Ontario is
a proven world class address for gold exploration, featuring the Hemlo gold
deposit operated by Barrick Mining (>23M oz gold produced), with the past
producing Geco and Winston Lake base metal deposits also situated in the
region.

FCM currently holds 100% ownership of seven claim blocks covering over 250km²
in north west Ontario. A further three blocks are under option and cover an
additional 30km(2).FCM is focussed on exploring for gold, but has base metals
and critical metals mineralisation. FCM is maintaining  a joint venture with
GT Resources on the West Pickle Lake Property a drill-proven ultra-high-grade
Ni-Cu project.

The flagship properties, North Hemlo and Sunbeam, are gold focussed. North
Hemlo has a significant discovery  in the Dead Otter trend  which is a
discontinuous 3.5km gold anomalous trend with a 19.6g/t Au peak grab sample.
This sampling being the highest known assay from a grab sample ever recorded
on the North Limb of Hemlo.

In October 2022 FCM completed the option to purchase the historical high-grade
past-producing Sunbeam gold mine near Atikokan, Ontario, ~15 km southeast of
Agnico Eagle's Hammond Reef gold deposit (3.3 Moz of open pit probable gold
reserves).

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The
property features Li-Ta-bearing pegmatites in the same belt as Green
Technology Metals' Seymour Lake Project, which contains a Mineral Resource
estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was successfully drilled prior to
Christmas 2023 and results have now been released.

The Kerrs Gold property, acquired under option by First Class Metals in April
2024, is located in northeastern Ontario within the Abitibi Greenstone Belt,
one of the world's most prolific gold-producing regions. The project holds a
historical inferred resource of approximately 386,000 ounces of gold,
underscoring its potential as a meaningful addition to FCM's expanding gold
portfolio. Kerrs Gold complements the Company's exploration strategy and
provides exposure to a well-established mining district. FCM is currently
reviewing plans to advance the project and further unlock its value.

The significant potential of the properties for precious, base and battery
metals relates to 'nearology', since all properties lie in the same districts
as known deposits (Hemlo, Hammond Reef, Seymour Lake), and either contain
known showings, geochemical or geophysical anomalies, or favourable structures
along strike from known showings (e.g. the Esa project, with an inferred
Hemlo-style shear along strike from known gold occurrences).

For further information see the Company's presentation on the web site:

www.firstclassmetalsplc.com

 

Forward Looking Statements

Certain statements in this announcement may contain forward-looking statements
which are based on the Company's expectations, intentions and projections
regarding its future performance, anticipated events or trends and other
matters that are not historical facts. Such forward-looking statements can be
identified by the fact that they do not relate only to historical or current
facts. Forward-looking statements sometimes use words such as 'aim',
'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal',
'believe', or other words of similar meaning. These statements are not
guarantees of statements. Given these risks future performance and are subject
to known and unknown risks, uncertainties and other factors that could cause
actual results to differ materially from those expressed or implied by such
forward-looking and uncertainties, prospective investors are cautioned not to
place undue reliance on forward-looking statements. Forward-looking statements
speak only as of the date of such statements and, except as required by
applicable law, the Company undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.

The MOU described herein is non-binding and does not constitute a legally
enforceable agreement to proceed with any transaction. The parties have agreed
to collaborate on an exploratory basis and any material developments will be
disclosed as required under the Company's regulatory obligations.

 

¹ Source: BCG Tokenisation Market Outlook 2023 | ESG Market Insights 2024

(( 1 ))
https://medium.com/predict/tokenizing-real-world-assets-how-to-unlock-16-trillion-in-opportunity-by-2030-37ca23479c4a
(https://medium.com/predict/tokenizing-real-world-assets-how-to-unlock-16-trillion-in-opportunity-by-2030-37ca23479c4a)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEFLFFEDLXBBF