REG - Fulcrum Metals PLC - Terra Balcanica exercises 1st Year Option

Fulcrum MetalsAnnouncement

14/07/2025 07:00

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RNS Number : 8904Q  Fulcrum Metals PLC  14 July 2025

 

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

 

 

14 July 2025

 

 

Fulcrum Metals plc

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

 

Terra Balcanica Resources Corp. exercises 1(st) Year Option to acquire

 Saskatchewan Uranium Projects

 

Fulcrum Metals plc (LON: FMET), a technology led company focused on the
recovery of precious metals from mine tailings in Canada, announces that Terra
Balcanica Resources Corp. (CNSX: TERA) ("Terra") has exercised the 1(st) year
option under the definite option agreement (the "Agreement") entered into on 2
July 2024, and as announced by Fulcrum on 3 July 2024, to acquire 100% of
Fulcrum's uranium projects consisting of the Charlot-Neely Lake, Fontaine
Lake, Snowbird and South Pendleton projects, (the "Uranium Projects") located
in Saskatchewan, Canada.

 

Pursuant to the terms of the Agreement, and in consideration for exercising
the 1(st) year of the option, Fulcrum will shortly receive C$50,000 in cash
and will be  issued C$350,000 of Terra common shares, equating to 3,804,347
new Terra common shares (the "New Terra Shares") issued at the price of $0.092
CAD based on a 10-day VWAP ending on 8 July 2025. The New Terra Shares are
expected to be issued to Fulcrum by 18 July 2005.

 

Following the issuance of the New Terra Shares, the Company will own 5,801,498
shares in Terra valued at C$533,738 based on the VWAP price of $0.092 CAD and
representing 9.0 per cent. of Terra's issued share capital.

 

The New Terra Shares are subject to a hold period of four months from the date
of issuance in accordance with applicable securities laws in Canada and the
policies of the Canadian Securities Exchange.

 

The cash consideration of C$50,000 will be used by Fulcrum for its ongoing
working capital needs.

 

Terra's full announcement can be accessed here:
https://terrabresources.com/en/2025/07/11/terra-balcanica-closes-first-tranche-while-extending-life-offering-and-exercises-first-year-of-option-agreement/
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fterrabresources.com%2Fen%2F2025%2F07%2F11%2Fterra-balcanica-closes-first-tranche-while-extending-life-offering-and-exercises-first-year-of-option-agreement%2F&data=05%7C02%7Cana%40stbridespartners.co.uk%7Cb3f164eedeee42f1cebe08ddc12fc186%7C48b7268319d344289c4b73cf144d89ed%7C0%7C0%7C638879133334592072%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=CCBX20GQ6du7vVaqJ0WXrP3sYLnoQ%2FIwGBI9Co5XxHQ%3D&reserved=0)

 

 

 

For further information please visit https://fulcrummetals.com/
(https://fulcrummetals.com/) or 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 initial projects are at the
former Teck-Hughes and Sylvanite 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 licenced use of Extrakt's proven leaching 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 history of over 110Moz Au
produced over the past 100 years and more than 70 documented legacy mine waste
sites. This presents Fulcrum with opportunity to develop into a significant
environmentally friendly gold producing entity in the near term.

 

About Terra Balcanica Resources Corp.

 

Terra Balcanica is a polymetallic and energy metals exploration company listed
on The Canadian Securities Exchange targeting large-scale mineral systems in
the Balkans of southeastern Europe and northern Saskatchewan, Canada. The
company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and
Herzegovina and owns 100% of the Ceovishte mineral exploration licence in
southern Serbia. The Canadian assets comprise a 100% optioned portfolio of
uranium-prospective licences at the outskirts of the world-renowned Athabasca
basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton.

 

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