REG - Fulcrum Metals PLC - Operations Update: Big Bear Project

Fulcrum MetalsAnnouncement

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RNS Number : 8108E  Fulcrum Metals PLC  27 October 2025

 

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

 

 

27 October 2025

 

 

Fulcrum Metals plc

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

 

Fulcrum completes Ground Exploration Programme at the Big Bear Project,
Ontario

 

Fulcrum Metals plc (AIM:FMET), a company pioneering the use of innovative
cyanide free technology to recover precious and critical metals from mine
waste with additional interests in highly prospective exploration projects, is
pleased to announce the completion of an autumn exploration programme at the
Company's Big Bear Gold Exploration Project ("Big Bear" and/or the "Project")
in Ontario, Canada.

 

A soil sampling programme was completed collecting 637 samples over the
Schreiber-Pyramid, Twomey and Schreiber Johnston Gap areas which are to be
submitted to AGAT labs for multi-element assay in the next few days. The
programme was designed to generate further exploration and potential drilling
prospects, building on the successful 2023 soil sampling programme which
displayed a corridor of elevated gold values.

 

Key highlights from the current programme include:

 * Extension of soil grids that previously reported highly anomalous gold values
of up to 929 ppb (0.93g/t).

 * New soil grids covering areas recommended for further detailed work around the
Schreiber-Pyramid and Twomey areas.

 * Extension of a very strong soil anomaly to the west of the Schreiber Pyramid,
known as Schreiber Johnston Gap, which is open further to the west.

 

The 2023 soil sampling programme was part of a wider exploration programme
across the Cook Lake - Schreiber Pyramid target area, which delivered:

 

·    Identification of a 3km gold bearing corridor, open along strike and
to the north.

·    A database from 2020 of over 37 rock samples exceeding 1g/t Au,
including 15 high-grade samples over 10g/t, up to 139g/t.

·    Nine areas of highly anomalous soil values, up to 0.93g/t Au.

·    Four drill ready prospects and five additional prospects identified
for target development.

·    VTEM geophysical surveys identified five further priority exploration
target areas.

 

Ryan Mee, Chief Executive Officer of Fulcrum, commented: "Big Bear is a highly
prospective project with multiple drill and exploration targets, high grade
gold in soils of up to 0.93g/t and rock samples returning up to 139g/t.

 

"The objective of this latest soil sampling programme is to build on the
success of the 2023 programme and generate additional exploration and drill
prospects in what is a proven high grade gold corridor open for expansion.

 

"We look forward to reporting on the assay results from this autumn
exploration programme, which complements the on-going work being conducted on
the Company's tailings projects in Kirkland Lake, Ontario."

 

Big Bear Background - 2023 exploration programme results in the Schreiber
Pyramid area

·    Discovery of a 3km gold bearing corridor, open along strike and to
the north.

·    A database from 2020 of over 37 rock samples in excess of 1g/t Au,
including 15 high-grade samples over 10g/t, up to 139g/t.

·    Nine areas of highly anomalous soil values, up to 0.92g/t Au.

·    Successful detailed mapping of important shear zones with the
potential for the discovery and development of an economic mineral deposit.

·    Structural observations between Cook Lake and Schreiber Pyramid
showings identified a potential regional-scale shear zone passing through this
area on a single mineralised structural system.

·    Geological and structural setting suggests potential for a large,
structurally controlled, stratabound-style banded iron formation ("BIF") gold
prospect similar to the Musselwhite deposit (McNicoll et al., 2016), as well
as an Archean greenstone, orogenic-style lode gold prospect, extending past
the bounds of known historical mineral occurrences.

·    Drill target pipeline established (as summarised below).

Drill target pipeline

·    Four drill ready prospects have been identified with significant gold
assays at Schreiber-Pyramid No.1 North and No.1 South, Johnston McKenna and
Cook Lake

·    A further five prospects for further development to drill target
status at Johnston McKenna Mill, Johnston McKenna South, Schreiber-Pyramid
South, Twomey Powerline, Schreiber Johnston Gap and the extension to the west

·    The Project is open for further drill target generation along strike
and to the north

Additional exploration target pipeline outside the Schreiber-Pyramid area

The geophysical survey completed earlier this year identified multiple
priority targets for investigation in addition to the more advanced
Schreiber-Pyramid area:

o  Syenite: Two areas of strong conductance with magnetic highs and strong
VTEM targets.

o  North: Conductive zone with magnetic highs and strong VTEM targets.

o  Schreiber West: A 2.2km northwestern trending anomaly associated with iron
formation with coincident magnetic highs and strong VTEM targets.

o  Rongie: An 855 metre long, strong, late channel EM anomaly.

o  West Hays: A 550m long mid-channel conductor, where mapping shows the
presence of felsic volcanics with nearby iron formation.

Figure 1 - Cook Lake - Schreiber Pyramid area of focus at Big Bear

 

Figure 2- 2025 soil sampling grid and previous results

 

Figure 3 - Schreiber-Pyramid area soil anomalies

Figure 4 - Big Bear property geophysical target areas

 

 

Technical Glossary

 Archean                                       The oldest of the two divisions of the Precambrian Era; older than 2,500
                                               million years ago
 Au                                            Gold
 banded iron formation ("BIF")                 Chemical sedimentary rock composed of finely alternating layers of silica and
                                               iron oxide, iron silicates or iron carbonates
 EM                                            Electromagnetic
 Felsic                                        Descriptive of a light-coloured rock containing an abundance of one or all of
                                               feldspar, quartz and felspathoids
 g/t                                           Grams per metric tonne
 Greenstone                                    Variably metamorphosed mafic to ultramafic volcanic sequences with associated
                                               sedimentary rocks that can be associated with Archean mineral deposits
 late-channel EM conductor                     An anomaly detected in the off-time portion of an electromagnetic (EM)
                                               geophysics survey, indicating a conductive geological body
 mid-channel EM conductor                      A conductive anomaly detected by electromagnetic (EM) geophysical surveys
                                               during the mid-time portion of the EM decay, which can indicate mineralisation
                                               like sulphides or graphite
 Orogenic                                      Pertaining to mountain building events in the Earth's history
 ppb                                           Parts per billion
 shear zone                                    Plane of failure in faulted body of rock
 VTEM (Versatile Time Domain Electromagnetic)  An airborne, helicopter-towed geophysics system that uses electromagnetic
                                               surveys to map the subsurface conductivity of the earth

 

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 / 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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