REG - Fulcrum Metals PLC - Multi-element assay results at Teck Hughes

Fulcrum MetalsAnnouncement

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RNS Number : 7732X  Fulcrum Metals PLC  24 March 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("UK MAR").

 

 

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

 

 

 

24 March 2026

 

 

Fulcrum Metals plc

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

 

Fulcrum reports multi-element assay results from auger drilling programme at
Teck Hughes

 

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, is pleased to announce the results from
its 159-auger drill hole programme at the Teck Hughes tailings project in
Kirkland Lake, Ontario.

 

Highlights:

 

·    Average grades from surface across 159 auger holes of 0.63g/t gold,
0.70g/t silver, 12.86g/t tellurium and 17.12g/t gallium

 

·    Additional critical and technology minerals identified including
106.40g/t rubidium, 841.73g/t strontium and 134.28g/t zirconium which may
provide further economic potential subject to additional recovery test work
and saleability

 

·    Consistent grade distributions from surface, both laterally and
vertically, with maximum thickness of 12.4 metres which should support stable
processing operations

 

·    Pilot Plant Scoping Study progressing well after initial site visits
in Timmins

 

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

 

"The Teck Hughes assays confirm both grade and continuity, and the presence of
additional technology metals within an already mined, surface tailings
resource.

 

"These results, alongside the excellent Phase 3 recovery test work announced
in February, will help guide further recovery testing and resource work and
support progression towards a maiden Mineral Resource Estimate.

 

"The Pilot Plant Scoping Study is progressing well, following visits to assess
potential site locations in Timmins alongside Extrakt and Bechtel. The pilot
plant is a key milestone as we move the Teck Hughes and Sylvanite tailings
projects towards production.

 

"I look forward to updating shareholders on continued progress across our
tailings projects and broader corporate strategy."

 

Teck Hughes auger drilling assay results

 

Fulcrum completed a 159-auger drill hole programme to provide detailed
mineralogical data which, together with the recovery test work, will support
progression towards a maiden Mineral Resource Estimate ("MRE").

 

Photon gold assays, comparative Gold Fire assays, and ICP-MS Ultratrace 4
multi-element assays have been returned for all holes completed. The
mineralisation is from surface with average grades weighted by length
returning 0.63g/t gold, 0.70g/t silver, 12.86g/t tellurium, and 17.12g/t
gallium. Other notable average grades by sample includes 106.40g/t rubidium,
841.73g/t strontium, and 134.28g/t zirconium.

 

Our expanding critical minerals opportunity

 

In addition to gold and silver results the presence of a growing suite of
critical and technology metals is expected to strengthen the commercial value
of the project.

 

·    Rubidium: used in advanced electronics, energy storage and emerging
technologies; supply is highly concentrated globally. The price of Rubidium
Carbonate (Rb2CO3≥99%) as of 20(th) March 2026 was USD$1,103/kg(1).

 

·    Strontium: used in aerospace alloys, electronics, and industrial
applications. The price of Strontium Carbonate (SrCO(3)) as of 20(th) March
2026 was USD$2,445/tonne(2).

 

·    Zirconium: important in nuclear energy, green technologies and
advanced materials. The price of Zirconium Carbonate (Zr(Hf)O2≥40%) as of
20(th) March 2026 was USD$2,487/tonne(3).

 

1 - https://www-old.metal.com/other-minor-metals/202012250004
(https://www-old.metal.com/other-minor-metals/202012250004)

2 - https://www-old.metal.com/Lithium/202205010004
(https://www-old.metal.com/Lithium/202205010004)

3 - https://www-old.metal.com/Other-Minor-Metals/202212260001
(https://www-old.metal.com/Other-Minor-Metals/202212260001)

 

 

Recovery test work

 

Phase 3 optimisation test work (see the announcement released by Fulcrum on 8
February 2026) resulted in rapid single leach stage co-product recoveries:

 

 Metal      Average grade g/t  Recovery rates
 Gold       0.63               78%
 Silver     0.70               95%
 Tellurium  12.86              96%
 Gallium    17.12              20%
 Rubidium   106.40             Not tested
 Strontium  841.73             Not tested
 Zirconium  134.28             Not tested

 

Further testing will be required to assess the recoveries and economic
potential of the rubidium, strontium and zirconium.

 

 

Pilot Plant Scoping Study progress

 

The Company continues to advance its Pilot Plant Scoping Study, a key step
toward commercialisation:

 

·    Led by Test Design & Implementation Solutions LLC (TDI)

·    Supported by Extrakt Process Solutions LLC ("Extrakt") and Bechtel
Energy Technologies & Solutions, Inc ("Bechtel").

·    Initial site visits completed in Timmins, Ontario

 

The pilot plant is expected to:

 

·    Demonstrate scalability from lab to pilot scale

·    Further validate recovery performance

·    Reduce technical and commercial risk

·    Support future development decisions

·    Support growth opportunities

 

 

Figure 1 - Teck Hughes map of average gold grades only

 

 

 

 

 

Technical Glossary

 

 Fire Assay           An assay procedure involving heating the sample in a furnace to ensure
                      complete extraction of all the contained precious metal
 g/t                  Grams per metric tonne
 ICP-MS Ultratrace 4  Four acid near-total sample digestion followed by ICP-MS multi-element
                      analysis
 Ppm                  Parts per million

 

Qualified Person Statement

 

The technical information in this announcement has been reviewed by Edward
(Ed) Slowey, BSc, PGeo, technical advisor to Fulcrum Metals Plc. Mr Slowey is
a graduate geologist with more than 40 years' relevant experience in mineral
exploration and mining and a founder member of the Institute of Geologists of
Ireland. Mr Slowey has sufficient experience relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which has been undertaken to qualify as a "Qualified Person" in accordance
with the AIM Rules Guidance Note for Mining and Oil & Gas Companies. Mr
Slowey consents to the inclusion in the announcement of the matters based on
their information in the form and context in which it appears.

 

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 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 optimisation and 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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