REG - Focus Xplore PLC - AI Exploration Update, Financing & Issue of Equity

Focus XploreAnnouncement

17/10/2025 07:00

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RNS Number : 7522D  Focus Xplore PLC  17 October 2025

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 year(1):

-      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:

 Director                   Current                            Financing       Fee Shares  Revised Shareholding  % of Enlarged Share Capital

                            Shareholding                       Participation

                                                               £
 Patrick Cullen             20,080,000                         10,000          25,000,000  45,080,000            1.30

 (CEO)
 Sean Wade                  0                                  10,000          25,000,000  25,000,000            0.72

 (Non-executive Chairman)
 Tinus Maree                43,872,627                         10,000          25,000,000  68,872,627            1.98

 (Non-executive Director)
 Louis Scheepers            33 872 627                         10,000          25,000,000  58,872,627            1.69

 (Non-executive Director)

 

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 Survey(1)), 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 processing(2) 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
(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:

 

 Patrick Cullen                      info@focusXplore.com                Focus Xplore PLC                                                                Chief Executive Officer
 James Biddle                        +44 (0) 207 628 3396                Beaumont Cornish Limited                                                        Nominated Adviser

 Roland Cornish
 Jason Robertson                     +44 (0) 207 374 2212                First Equity Limited                                                            Corporate Broker
 Corporate Website: www.focusXplore.com (http://www.focusXplore.com)     LinkedIn: Focus Xplore PLC (https://www.linkedin.com/company/focus-xplore-plc)  X: @focusXplore (https://x.com/focusxplore)

 

 

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.

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