RCS - Fulcrum Metals PLC - Site visits to Kirkland Lake tailings projects

Fulcrum MetalsAnnouncement

21/10/2025 07:00

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RNS Number : 1120E  Fulcrum Metals PLC  21 October 2025

 

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

 

Reach Announcement

 

21 October 2025

 

 

Fulcrum Metals plc

("Fulcrum" or the "Company")

 

Fulcrum site visits to support advancing Kirkland Lake tailings projects

 

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 provide an update on the Company's highly prospective
Teck Hughes and Sylvanite tailings projects in Kirkland Lake, Ontario.

 

Following the appointment of AP Kane & Associates Ltd as consultants to
the Kirkland Lake tailings projects, Ryan Mee Fulcrum CEO, and Andrew Kane,
Principal of AP Kane & Associates, will be on-site overseeing exploration
work at both Teck Hughes and Sylvanite between 19(th) and 23(rd) October 2025.

 

Objectives of the site visits include

·    Assess work being conducted by the Augur drill team at Teck Hughes

·    Engage in meetings with government departments on permitting expedite
production at Teck Hughes

·    Review environmental work-streams at Teck Hughes

·    Meeting with potential site contractors for advancing Teck Hughes

·    Examine synergy opportunities to develop the Sylvanite and Teck
Hughes projects as a regional tailing processing hub

·    Outline next steps for advancing the Sylvanite project

 

 

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

 

"These site visits are important as we integrate Andrew, who brings more than
30 years of Ontario mining industry experience including senior roles with
Ontario Ministry of Mines, into our Kirkland Lake projects.

 

Our focus is on building momentum towards bringing Teck Hughes closer to a
production ready state and to address potential synergies with the nearby
Sylvanite project whilst exploring additional cross-sector growth
opportunities.

 

I look forward to updating investors on developments from the site visits."

 

Teck Hughes characterisation program underway

 

Fulcrum is conducting an auger drill program to provide detailed data for
minerology to support a Mineral Resource Estimate ("MRE"), a major step in
advancing the Teck Hughes project towards production. Photon gold assays have
been returned for 94 augur drill holes which have provided best assay results
of 1.62g/t over 0.8 metres, best hole results of 1.02g/t over 4.75 metres from
surface and the deepest hole measured is 12.4 metres. As announced by the
Company on 15 October 2025, the samples are now at Actlab for comparative Gold
Fire Assay and ICP-MS Ultratrace 4 multi-element assay for critical mineral
and rare earth potential review including Silver, Gallium and Tellurium.
Additional augur drill holes are planned to delineate the bottom of the
tailings and provide core for deeper drill holes over 6 metres for further
analysis.

 

Phase 3 testing is also underway with Extrakt and their proprietary cyanide
free leach and solid-liquid separation TNS(TM) technologies will provide
detailed metallurgical data to process the tailings. This includes optimising
and scaling up resource recovery, maximising yield and process efficiency,
tailings dewatering and recovery of water and reagents. Results of the Phase 3
test work are expected in or around December 2025 for review and analysis by
Fulcrum.

 

These workstreams are running in parallel and provide the basis for a MRE, a
43-101 technical report and a phase 4 PFS level economic assessment with
Extrakt.

 

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.

 

Sylvanite Gold Tailings Project Background

 

A 1986 report filed on the property estimated a tailings resource of 4.52
million tons (4.14 million tonnes) grading 0.015 oz/ton Au (0.47g/t Au)
containing 67,051 ounces of gold. This estimate remains to be verified by
Fulcrum.

 

In 2008 a 30m x 25m sampling grid was established with drilling to the base of
tailings to obtain samples for assay and recovery test work - 1.22m sample
length in 149 holes totaling 926.6m - with a maximum tailings thickness of
12.2m was reported. An average grade of 0.541g/t Au was reported in the 20
holes fully sampled and assayed.

 

Map of Teck Hughes and Sylvanite Gold Tailings Projects in Kirkland Lake

 

 

FOR FURTHER INFORMATION

Visit: www.fulcrummetals.com (http://www.fulcrummetals.com)

Follow on X: @FulcrumMetals

Contact:

 

 Fulcrum Metals PLC
 Ryan Mee (Chief Executive Officer)           Via St Brides Partners Limited

 Allenby Capital Limited (Nominated adviser)
 Nick Athanas / Daniel Dearden-Williams       Tel: +44 (0) 203 328 5656

 Clear Capital Markets Limited (Broker)
 Bob Roberts                                  Tel: +44 (0) 203 869 6081

 St Brides Partners Ltd (Financial PR)
 Ana Ribeiro / Paul Dulieu                    Tel: +44 (0) 20 7236 1177

 

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.

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