REG - Fulcrum Metals PLC - Fulcrum secures Teck Hughes Surface Rights

Fulcrum MetalsAnnouncement

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RNS Number : 9899E  Fulcrum Metals PLC  20 May 2026

 

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014, which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

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

 

 

20 May 2026

 

 

Fulcrum Metals plc

("Fulcrum" or the "Company" or the "Group")

 

Fulcrum secures Teck Hughes Surface Rights

 

Issue of Equity

 

 

Fulcrum Metals plc (AIM: FMET), a company pioneering the use of innovative
cyanide-free technologies to recover precious and critical metals from mine
waste and support site remediation, announces that it has signed agreements to
acquire surface rights at the Teck Hughes tailings project ("Teck Hughes" or
the "Project").

 

The Company has secured five surface rights totalling 270 acres of the Project
area representing a significant milestone in advancement of the Project. It
provides the Company with the necessary land access and operational
flexibility to support ongoing exploration activities, environmental studies,
infrastructure planning and future development work.

Highlights

·      Long-term access secured to key project and infrastructure areas

·      Reduced development risk through strengthened land tenure and
operational certainty

·      Enhanced ability to advance exploration programmes and technical
studies efficiently

·      Improved project development flexibility for future mine planning
and infrastructure positioning

·      Positive step towards future permitting and development
activities

·      The close date of the transaction is within 30 days

The surface rights agreement strengthens the Company's overall land position
within the Project area and supports the Company's strategy to advance Teck
Hughes into the next stage of development.

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

"Securing these surface rights for the Teck Hughes tailings project is an
important strategic step. We now have the access and operational certainty
needed to advance the project and to further derisk future development.
Achieving this milestone strengthens the long-term value of Teck Hughes and
positions us for the next phase of development and project evaluation.

"We will continue to progress technical work programmes and stakeholder
engagement initiatives as we advance our broader tailings strategy."

Transaction details

 

Agreements have been signed with North American Land Holdings, Inc., and White
Cliff Holdings LLC to acquire five surface rights totalling 270 acres at the
Teck Hughes tailings projects.

 

The consideration for the surface rights includes CAD$220,000 in cash and the
granting of a 1.5% Net Smelter Royalty ("NSR") to the vendors. Fulcrum retains
the right to buy down the NSR to 0.75% for a total payment ofCAD$750,000, with
a further CAD$500,000 reducing the NSR to 0.5%.

 

The vendors retain an option to re-purchase the surface rights (the "Owners
Option") should Fulcrum abandon the surface rights for CAD$110,000, with the
Owners Option self-extinguishing upon Fulcrum providing any of a combination
of CAD$320,000 through NSR payments, buy-backs, or one-off payments.

 

The agreements also include a 1km area of interest around the boundaries of
Fulcrum's Teck Hughes and Sylvanite tailings projects for both Surface and
Mining Rights. As part of the agreements, Fulcrum has first right of refusal
for any existing or newly acquired property for a period of 5 years based on a
fixed price of twice the original acquisition cost and a similar NSR
structure.

 

The terms are binding and subject to close within 30 days, subject to
satisfactory final documentation.

 

Figure 1 - Teck Hughes project - Mining rights in yellow, surface rights in
green

 

 

Issue of Service Provider Shares

In addition, the Company has agreed to issue 85,714 new ordinary shares of 1
pence in the Company (the "New Ordinary Shares"), totalling £7,500, to a
service provider in lieu of fees.

An application will be made shortly for the admission of the New Ordinary
Shares to trading on AIM ("Admission"). The New Ordinary Shares will
rank pari passu with the existing ordinary shares, and it is expected that
Admission will become effective at 8.00 a.m. on or around 26 May 2026.

Total Voting Rights

Following Admission, the Company's issued share capital will consist
of 153,158,025 ordinary shares with voting rights.  The Company does not
hold any ordinary shares in treasury. This figure of 153,158,025 may be used
by shareholders in the Company as the denominator for the calculations by
which they will determine if they require to notify their interest in, or a
change to their interest in, the share capital of the Company under the UK
Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

FOR FURTHER INFORMATION

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

Follow on X: @FulcrumMetals LinkedIn·Fulcrum Metals PLC
(https://www.linkedin.com/company/fulcrum-metals-plc/)

 

You can engage with the management team about this announcement here:
https://fulcrummetals.com/link/yEvg6e (https://fulcrummetals.com/link/yEvg6e)

 

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 current projects are the
tailing sites of the former Teck-Hughes and Sylvanite gold mines, located in
the Kirkland Lake region of 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 an agreement for exclusivity rights in respect of any licensed use
of Extrakt's proven cyanide free technology on legacy 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 more than 70 documented legacy mine waste sites.

 

Fulcrum is now focused on the development of its Teck-Hughes and Sylvanite
projects towards production using Extrakt's technology and positioned to scale
the concept across two of Canada's historically most productive gold regions.
Fulcrum believes this represents a substantial, long-term opportunity to
unlock significant and largely untapped value from legacy mine waste.

 

 

 

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