REG - Fulcrum Metals PLC - Final Option Payments Made Re Teck-Hughes

Fulcrum MetalsAnnouncement

27/11/2025 07:00

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RNS Number : 1760J  Fulcrum Metals PLC  27 November 2025

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.

 

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 / Ashur Joseph                  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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