REG - Fulcrum Metals PLC - Update re. Loyalist Exploration Limited

Fulcrum MetalsAnnouncement

26/01/2026 07:00

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RNS Number : 2875Q  Fulcrum Metals PLC  26 January 2026

 

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

 

 

26 January 2026

 

 

Fulcrum Metals plc

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

 

Update re. Loyalist Exploration Limited

 

Fulcrum Metals plc (AIM:FMET), a company pioneering the use of innovative
cyanide free technology to recover precious and critical metals from mine
waste, announces the receipt of a further 272,740 common shares (the "Further
Consideration Shares") in Loyalist Exploration Limited (CSE:PNGC) ("Loyalist")
as part of the consideration terms and purchase agreement of the sale of the
Tully Gold Project to Loyalist announced by the Company on 6 October 2025.

 

As a result of the issue of the Further Consideration Shares, Fulcrum now
holds a total of 78,972,740 shares in Loyalist, representing 19.9% of the
current issued and outstanding Loyalist Shares on a non-diluted basis.

 

Loyalist common shares are traded on the Canadian Securities Exchange and
trading at $0.045 as at 23 January 2026 valuing Fulcrum's holding at
approximately CA$3.5m (equivalent to approximately £1.9m at current exchange
rates).

 

Ryan Mee, CEO of Fulcrum, commented:

 

"We are pleased with the progress Loyalist is making at Tully, a project with
significant expansion and near-term production potential which is being
recognised in Canada.

 

"This transaction has enabled Fulcrum to attain value through its shareholding
in Loyalist with an exposure to a wider portfolio of highly prospective
Timmins projects and a direct royalty interest in Tully.

 

"Importantly it allows Fulcrum to focus its resources on executing our
strategy as a technology-led company focused on the recovery of precious and
critical metals from historic mine waste tailings in Kirkland Lake. I look
forward to updating shareholders in due course."

 

 

Background information

 

On completion of the sale of the Tully Gold Project in October 2025 Fulcrum
was issued with 78,700,000 common shares of Loyalist (the "Initial
Consideration Shares"), cash consideration of CAD$500,000, and a 2.0% net
smelter return royalty on the Tully Gold Project with further consideration
due based upon certain milestones.

 

The remaining further consideration due to Fulcrum under the agreement is as
follows: -

 

(i)            Up to an aggregate of CAD$150,000 in cash based on
certain milestones;

(ii)           An additional 15,000,000 Loyalist Shares (or cash in
lieu thereof) upon filing of a technical report on the Tully Gold Project
where a gold resource is re-evaluated (or restated) to a NI 43-101 standard
exceeding 200,000 ounces; and

(iii)          An additional 15,000,000 Loyalist Shares (or cash in
lieu thereof) upon the announcement of a decision to mine on the Tully Gold
Project.

 

Notwithstanding the above potential considerations, no additional Loyalist
Shares will be issued to Fulcrum if the issuance would result in Fulcrum
beneficially, directly or indirectly owning, controlling or exercising
direction over 20% or more of the voting rights of Loyalist, unless Loyalist
has first obtained the requisite regulatory approvals, including shareholder
approval for the approval of a new control person and approval of the Canadian
Securities Exchange.

The 78,972,740 common shares in Loyalist held by Fulcrum are subject to a hold
period expiring 23(rd) February 2026.

 

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").  Fulcrum's initial projects are the tailing
sites of the former Teck-Hughes and Sylvanite gold mines in the Kirkland Lake
mining camp 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 exclusive licence to use Extrakt's proven leaching technology
on gold mine waste sites in the Timmins and Kirkland Lake mining camps of
Ontario. 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.

 

About Loyalist Exploration Limited

 

Loyalist Exploration Limited is a mineral exploration company concentrating on
acquiring, exploring, and developing quality mineral properties in Canada. The
Company is currently focused on its "Buy Timmins" strategy, with the recent
acquisitions of the Tully gold property, the Loveland nickel/copper/gold
property and the Gold Rush gold/silver property, and the DeSantis gold
property, all located in the Timmins, Ontario mining district. The Company
expects to commence a significant mining permit project at Tully and
exploration activities on all four properties as well as expanding the
Company's Timmins based property portfolio.

 

https://loyalistexploration.com/ (https://loyalistexploration.com/)

 

 

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