REG - First Class Metals - OJEP-Grant Approval

FIRST CLASS METALSAnnouncement

20/03/2026 13:30

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RNS Number : 5332X  First Class Metals PLC  20 March 2026

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
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UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

FIRST CLASS METALS PLC

Ontario Junior Exploration Programme-Grant Approval

20 March 2026

 

First Class Metals PLC ("First Class Metals", "FCM" or the "Company") the UK
listed company focused on the discovery of economic metal deposits across its
exploration properties in Ontario, Canada, is delighted to announce that it
has been approved to participate in the Ontario Junior Exploration Program
("OJEP") for work to be completed on the Sunbeam Property. OJEP is supporting
junior mining companies by providing grants aggregating to CAD $10 million in
2025-2026.

 

Highlights

 

·    OJEP will fund up to 50% of eligible exploration expenditures
incurred by the Company on the Sunbeam Property between 1 April 2025 and 15
February 2026.

 

·    Funding remains subject to confirmation that all OJEP eligibility
criteria are satisfied, the execution of a formal funding agreement, and
ongoing compliance with OJEP's terms and conditions.

 

·    The Ontario Government continues to actively support early-stage
mineral exploration through OJEP, creating valuable opportunities for junior
explorers to advance and de-risk prospective assets. For further details
see:  Ontario Invests in 68 New Mines of the Future to Bolster Self-Reliance
| Ontario Newsroom
(https://news.ontario.ca/en/release/1007194/ontario-invests-in-68-new-mines-of-the-future-to-bolster-self-reliance)

 

·    First Class Metals has secured the OJEP grant for four consecutive
years, underlining the technical progress and exploration success achieved
across the Sunbeam, North Hemlo and Zigzag properties.

 

 

·    The grant represents non-dilutive funding, strengthening the
Company's exploration programmes while preserving shareholder value.

 

Sunbeam Project

 

 The award of OJEP funding provides further validation of the technical merit
and exploration potential of the Sunbeam Property, while materially enhancing
the Company's ability to advance the project in a capital-efficient manner.
This support comes at a time when recent drilling at the Roy prospect has
delivered highly encouraging visual results, including multiple occurrences of
visible gold within core, reinforcing confidence in the developing gold
system.

Marc J. Sale, CEO First Class Metals Commented:

"It is an honour for First Class Metals to receive OJEP support for the fourth
consecutive year, which we believe reflects both the quality of our technical
approach and the growing potential of our Ontario exploration portfolio. I
would like to thank the Ontario Ministry of Northern Development for awarding
the Company the grant.

 

This non-dilutive funding will directly support our planned exploration
activities on the Sunbeam Property, enabling us to advance the project in a
focused and capital-efficient manner. This support comes at a particularly
encouraging time, with the current drill programme at the Roy prospect
progressing well and delivering positive visual indications, including
multiple occurrences of visible gold in core. Building on the systematic work
completed in previous OJEP-supported programmes, we are now advancing the
Sunbeam Property through recent drilling and ongoing evaluation of results,
with a focus on further defining and progressing the project."

 

About OJEP: The Ontario Junior Exploration Programme helps junior mining
companies finance early stage exploration projects in Ontario. Incentivizing
early exploration will help the province remain competitive globally, find new
deposits of critical minerals, and create new economic development and job
creation for northern and Indigenous communities.

 

 

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://firstclassmetalsplc.com

 

For further information, please contact:

 

James Knowles, Executive Chair

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

Tel: 07488 362641

 

Marc J Sale, CEO and Executive Director

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

Tel: 07711 093532

 

AlbR Capital Limited (Financial Adviser)

David Coffman/Dan Harris

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

Tel: (0)20 7469 0930

 

Axis Capital Markets (Broker)

Lewis Jones

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

Tel: (0)203 026 0449

 

 

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