REG - Fulcrum Metals PLC - Soil sampling results from Big Bear Project

Fulcrum MetalsAnnouncement

Tue 07:00

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RNS Number : 5341G  Fulcrum Metals PLC  02 June 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

 

 

2 June 2026

 

 

Fulcrum Metals plc

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

 

Soil sampling results of up to 1.46g/t gold advance high-grade drill-ready 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 soil sampling results of up to 1.46g/t gold at its Big
Bear Exploration Project ("Big Bear" or the "Project") in Ontario, Canada. The
results define a large-scale gold target within a wider gold corridor and
further advance multiple permitted, drill-ready targets ahead of future
exploration activities.

 

Highlights

 

·    Regional stand-out ~2km × 2km gold target defined within 3km gold
corridor

·    1460 ppb (1.46g/t) Au peak soil results; 51 highly anomalous samples
over 30ppb Au

·    3km gold corridor with rock samples of up to 139g/t Au

·    Strong correlation between high-grade soil and rock samples enhances
drill targeting and extends bedrock targets

·    Gold target and corridor remains open for expansion

·    30 drill pads permitted; multiple priority targets ready for drilling

 

 

Ryan Mee, Chief Executive Officer of Fulcrum, commented: "The soil sampling
programme has defined a regional stand-out gold target within a 3km corridor
that remains open along strike. Results are supported by a growing dataset of
high-grade soil samples grading up to 1.82 g/t Au and rock samples up to 139
g/t Au, highlighting the scale and prospectivity of the system.

 

Soil sampling continues to be an effective tool for targeting mineralisation
in areas of limited bedrock exposure, enhancing drill targeting and supporting
expansion of the known gold footprint. With permits in place for up to 30
drill pads, Big Bear is a high-grade, drill-ready gold project with multiple
priority targets.

 

Our focus is now on evaluating partnership opportunities for Big Bear,
consistent with our strategy at the Tully Gold Project and across our uranium
portfolio."

 

Soil sampling programme background

 

A soil sampling programme was completed in the latter stages of 2025 which
collected 639 samples over the Schreiber-Pyramid, Twomey and Schreiber
Johnston Gap areas. This covers a 2km section central and to the east of an
established high grade 3km corridor, infilling areas with no bedrock exposure
(Figure 2).

 

The results confirmed a stand-out regional gold target area covering
approximately 2km x 2km which is open to the north, east and west including:

 

·    A new target area north of the Powerline occurrence, with 16 samples
>30ppb Au, including four samples >100ppb. The east-west strike of the
anomalous samples extends approximately 900m and remains open to the north.

·    A new target area to the southeast of Schreiber-Pyramid, with 15
samples > 30ppb Au, including four samples >100ppb, over an area
measuring approximately 425m x 300m, and remaining open to the east.

·    Extension of the Johnston-McKenna occurrence footprint, generating an
approximately 1 km-long trend of elevated soil and rock gold values, together
with additional elevated gold data north and east of the Powerline occurrence.

 

Table 1 - Table of soil sampling results

 

 Soil Sampling programme  Total Number of Samples  Highest Au Sample value (ppb)  Number of samples >100 ppb Au     Number of samples 30 to 100 ppb Au
 2011                     283                      1820                           1                                 3
 2020                     416                      190                            3                                 14
 2023                     329                      929                            8                                 15
 2025                     639                      1460                           13                                51
 Total                    1667                                                    25                                83
 Increase*                62%                                                     108%                              159%

* Reflecting percentage increase in total number of samples following 2025
soil sampling programme

 

Key programme highlights

 

The combination of the soil and rock sampling programmes and VTEM surveys
undertaken since 2020 across the Cook Lake - Schreiber Pyramid target area
(Figure 1) has delivered:

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

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

·    A stand-out regional gold target area spanning 2km x 2km, open to the
north, east and west, with highly anomalous soil values of up to 1.82g/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 which
have identified a potential regional-scale shear zone passing through this
area on a single mineralised structural system.

·    Geological and structural setting which 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.

·    The establishment of a drill target pipeline (as summarised below).

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

Drill target pipeline (Figure 3)

·    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 western extension area

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

Additional exploration target pipeline outside the Schreiber-Pyramid area
(Figure 4)

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 550 metre long mid-channel conductor, where mapping shows the
presence of felsic volcanics with nearby iron formation.

Exploration Permit Details (map at Figure 5)

 

 Exploration Permit Number  Project Name (claim numbers included)  Expiry Date           Permitted Activities                                         Exploration Targets Covered
 PR-25-000170               Big Bear East                          7(th) October 2028    ·    Mechanised drilling (up to 20 Diamond drill holes)      ·    Schreiber-Pyramid

                            (141544, 192268, 288061, 554098)                             ·    Mechanised stripping                                    ·    Powerline
 PR-25-000190               Big Bear West                          21(st) December 2028  ·    Mechanised drilling (up to 5 Diamond drill holes)       ·    Johnston-McKenna

                            (174811, 336359, 556514)                                     ·    Mechanised stripping                                    ·    Cook Lake

                                                                                         ·    Line cutting (2,000 metres)                             ·    Twomey BIF
 PR-25-000191               Big Bear North                         21(st) December 2028  ·    Mechanised Drilling (up to 5 Diamond drill holes)       ·    Little Bruin

                            (546085, 566379, 571638)                                     ·    Line cutting (2,000 metres)

                                                                                         ·    Ground geophysics (IP)

 

 

Figure 1 - Cook Lake - Schreiber Pyramid area of focus at Big Bear (red box)

Figure 2- 2025 soil sampling grid and previous results

 

Figure 3 - Cook Lake - Schreiber Pyramid area targets

 

 

Figure 4 - Big Bear property geophysical target areas

Figure 5 - Exploration Permit Map

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
 IP survey                                     A method of ground geophysical surveying which employs the passing of an
                                               electrical current into the ground to test for indications of conductive
                                               metallic sulphides
 late-channel EM conductor                     An anomaly detected in the off-time portion of an electromagnetic ("EM")
                                               geophysics survey, indicating a conductive geological body
 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
 stratabound                                   Occurring within a particular strata or layer
 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.

 

Ends

 

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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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