REG - Fulcrum Metals PLC - Pilot Plant Deployment Agreement Signed

Fulcrum MetalsAnnouncement

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RNS Number : 6572H  Fulcrum Metals PLC  10 June 2026

 

 

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

 

 

10 June 2026

 

 

Fulcrum Metals plc

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

 

Fulcrum Signs Agreement with Test Design Implement Solutions

 for Ontario Pilot Plant Deployment

 

Fulcrum Metals plc (AIM: FMET), a company pioneering the use of innovative
cyanide-free technologies developed by Extrakt Process Solutions to recover
precious and critical metals from mine waste and support site regeneration, is
pleased to announce that its wholly owned subsidiary, Fulcrum EnviroTech Corp.
("Fulcrum EnviroTech"), has signed a contract with Test Design Implement
Solutions LLC ("TDI") for the deployment and operation of a standalone pilot
plant in Ontario, Canada (the "Pilot Plant").

 

The Pilot Plant will utilise the cyanide-free leach technology developed by
Extrakt Process Solutions ("Extrakt") to process material from Fulcrum's
Teck-Hughes project, while also providing the capability to evaluate
additional third-party mine waste materials. The programme is supported by
Bechtel Energy Technologies & Solutions, Inc. ("Bechtel"), which has a
long-term alliance agreement with Extrakt.

 

Importantly, Fulcrum's relationship with Extrakt extends beyond the
Teck-Hughes and Sylvanite projects. Fulcrum holds exclusive rights to deploy
Extrakt's proven cyanide-free technology across legacy gold mine waste sites
within the Timmins and Kirkland Lake mining districts of Ontario. These two
world-class gold camps have collectively produced more than 110 million ounces
of gold over the past century and are estimated to contain more than 70
documented legacy mine waste sites, providing a significant pipeline of
potential future reclamation and metal recovery opportunities.

 

Highlights

·    Pilot Plant to support the Teck-Hughes project towards
commercialisation.

·     Scalable platform designed to evaluate additional mine waste
opportunities across Fulcrum's portfolio and future potential projects.

·    2.4 tonnes per day processing capacity using Extrakt's proprietary
cyanide-free technology.

·    Capital-light structure to access both specialist technology and
operating expertise without significant infrastructure ownership requirements.

·    Programme designed to generate the operational, metallurgical and
engineering data required to support future commercial development.

·    Strong ESG proposition provides both cyanide-free metal recovery and
environmental remediation of historic mine waste.

As announced on 11 February 2026, the Company previously commissioned TDI to
undertake a Pilot Plant Scoping Study, with the support of Extrakt and Bechtel
to identify the best way to advance from successful laboratory scale tests to
a pilot-scale operation.

 

Ryan Mee, CEO of Fulcrum, commenting on the announcement:

 

 

Ryan Mee, Chief Executive Officer of Fulcrum Metals plc, commented: "This is a
significant milestone for Fulcrum which creates a pathway to commercialising
Teck-Hughes while establishing a platform that is able to support future mine
waste recovery opportunities.

"Fulcrum is excited to be working with TDI, Extrakt and Bechtel on this next
phase of the project, which represents an important step towards unlocking
significant value from historic mine waste assets through a scalable and
capital-efficient business model. The pilot processing programme is designed
to generate the data required to support commercial deployment and establish
the blueprint for broader deployment.

"Shareholders will be updated as key milestones are achieved and the pilot
programme progresses."

 

William Florman, President of Extrakt/TDI, commented:"We are pleased to take
this next step with Fulcrum to advance their projects in Canada. Laboratory
testing to date has been promising, and we look forward to progressing to
pilot-scale operations under representative operating conditions.

"The pilot platform has been scoped and designed to help bridge the gap
between laboratory testing and commercial deployment by generating specific
data on leach performance and on other key aspects of the flow sheet. The
limited pilot scope and design can be expanded in the future to include
additional aspects of the flow sheet. This data will help guide the final
commercial design.

"We believe the combination of Fulcrum's mine waste assets and our
cyanide-free technology has the potential to support a scalable recovery
platform, and we look forward to advancing the program together."

 

Building a Scalable Mine Waste Recovery and Remediation Platform

The Pilot Plant will initially process material from the Teck-Hughes project
while providing the capability to evaluate additional mine waste opportunities
across Fulcrum's portfolio and beyond.

The pilot processing platform represents a significant milestone in Fulcrum's
strategy to build a scalable mine waste recovery and remediation business.
Historic mine waste represents a substantial and largely underdeveloped
opportunity, with modern recovery technologies creating new pathways to unlock
value from legacy mining assets while supporting environmental remediation.

The Teck-Hughes pilot programme is designed to generate the data required to
support future commercial development while establishing a blueprint for
expansion. The platform has the potential to underpin a repeatable recovery
model to support future expansion across additional projects and strategic
partnerships.

 

Capital-Light Commercial Structure

The Pilot Plant is being deployed under a contract between Fulcrum EnviroTech
and TDI. Under the contract, TDI will supply, install, commission and operate
the pilot facility while retaining ownership of the equipment. Extrakt will
provide non-commercial licensing of its cyanide-free technologies, supported
by Bechtel. Fulcrum's responsibilities relate primarily to site provision,
programme execution and operations. A number of potential site locations have
been identified and are under consideration.

This structure provides Fulcrum with access to specialist technology and
operating expertise without significant capital equipment costs. The contract
with TDI also includes ongoing equipment lease provisions providing the
ability for Fulcrum to continue using the platform after the initial
programme, to support testing and evaluation of future opportunities.

The Board of Fulcrum believes this approach reduces development risk,
preserves shareholder capital and provides a capital-efficient pathway towards
future commercial deployment.

 

Advancing Teck-Hughes Towards Commercialisation

The pilot programme will employ Extrakt's proprietary cyanide-free leaching
technology and integrated reagent management system to validate process
performance, optimise operating parameters and generate the data required to
support future commercial development.

Designed to process up to 2.4 tonnes of material per day, the Pilot Plant will
provide a representative demonstration of a potential commercial-scale
recovery process. Initial operating campaigns are expected to comprise
approximately 12 pilot batches over a four-week period using material from
Fulcrum's Teck-Hughes project.

The programme is intended to bridge the gap between laboratory testing and
commercial implementation by generating the operational, metallurgical and
engineering data required to evaluate future development pathways.

 

Outlook

This contract with TDI marks the transition of Fulcrum's mine waste recovery
strategy from laboratory validation to pilot-scale implementation.

Over the coming months, Fulcrum will work with its partners to prepare for
deployment of the pilot processing platform, advance implementation activities
and to select a site from several locations currently under consideration.
Beyond Teck-Hughes, the Board believes the platform has the potential to
become a strategic asset to evaluate and advance additional mine waste
opportunities.

The Board believes this strategy represents an important step towards building
a scalable mine waste recovery business capable of supporting future
partnerships acquisitions, toll-processing opportunities, and the broader
commercialization of mine waste recovery across some of North America's most
prospective legacy mining jurisdictions creating long-term shareholder value.

 

About Extrakt

Extrakt Process Solutions is a technology company that is focused on
separation technologies for recovering precious mineral recovery, hydrocarbon
separation as well as dewatering of mine waste and other related processes
without the use of cyanide. The company has a global patent portfolio and
continues to develop new processes and technologies.

See www.extraktps.com (https://www.extraktps.com/)

 

Extrakt Process Solutions, LLC (Extrakt) and Bechtel Energy Technologies &
Solutions, Inc. (BETS) have formed a strategic global technology alliance, to
commercialize Extrakt's novel, leaching technology and solid-liquid separation
technology, known as TNS™. TNS addresses the difficult challenges of mine
tailings, dewatering, and product recovery in a sustainable, effective manner.
Click here
(https://www.bechtel.com/press-releases/extrakt-and-bechtel-partner-to-commercialize-groundbreaking-solid-liquid-separation-technology/)
 
(https://www.bechtel.com/press-releases/extrakt-and-bechtel-partner-to-commercialize-groundbreaking-solid-liquid-separation-technology/)
to read about the strategic alliance press release.

See: https://www.bechtel.com/ (https://www.bechtel.com/)

 

About TDI

TDI is a laboratory and engineering services company that provides testing,
piloting and other services to the mining industry. TDI Solutions LLC ("TDI")
is authorised and equipped to provide lab testing and piloting services to
support the commercialisation of Extrakt Process Solutions' suite of
technologies

 

Ends

 

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questions, watching video summaries and seeing what other shareholders have to
say. Navigate to our interactive investor hub here:
https://fulcrummetals.com/s/7fc3a5 (https://fulcrummetals.com/s/7fc3a5)

 

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For further information, please contact:

 

 Investor questions on this announcement         https://fulcrummetals.com/link/PQRk2y

 We encourage all investors to share questions

 on this announcement via our investor hub
 Fulcrum Metals Plc

 Ryan Mee, Chief Executive Officer               Via our investor hub;

                                                 Or through St Brides
 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

 

 

 

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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 and critical 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. The Company also owns a
portfolio of highly prospective mineral exploration and development projects
in both Ontario and Saskatchewan Canada.

 

Fulcrum has an exclusive agreement to use 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 focused on advancing the Teck-Hughes and Sylvanite projects towards
production using Extrakt's technology and then to scale the concept across two
of Canada's historically most productive gold regions. Fulcrum believes this
represents a significant, long-term opportunity to unlock significant and
largely untapped value from legacy mine waste.

 

 

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