REG - Metals One PLC - Strategic Investment in Fidelity Minerals

Metals OneAnnouncement

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RNS Number : 6433C  Metals One PLC  09 October 2025

9 October 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Strategic Investment in Fidelity Minerals

 

Investment exposure to the highly prospective Las Huaquillas gold, copper and
silver project in Northern Peru

 

Metals One (AIM: MET1), a critical and precious metals exploration and
development company, is pleased to announce a strategic investment of
CA$500,000 in Fidelity Minerals Corp (TSXV: FMN) ("Fidelity"), a porphyry
copper-gold focused junior that has assembled a portfolio of high development
potential and large-scale appraisal projects.

 

The investment is being made by way of a subscription for a total of 5,000,000
common shares at C$0.10 each ("Units") in two tranches, as part of Fidelity's
C$1,500,000 private placement ("the Placement") which will result in Metals
One owning approximately 13.61% of Fidelity. The first tranche of 3,500,000
Units has settled resulting in Metals One owning an initial 9.93% of Fidelity
with the second tranche for an additional 1,500,000 Units remaining subject to
TSX-V approval. Attaching to each Unit is one-half transferable common share
purchase warrant, with each full warrant exercisable at a price of CA$0.20 per
share until 7 October 2027.

 

Metals One investee company Lions Bay Capital (Metals One: 19.1%(1)) also
participated in the Placement and will own 36.66% of Fidelity on completion of
the second tranche.

 

(1) (19.1% remains subject to TSX-V approval)

 

Las Huaquillas Project

 

Fidelity's flagship asset, the Las Huaquillas Project, is an advanced-stage
gold-copper-silver project located in northern Peru, approximately 14 km south
of the Ecuador border. The Project lies within the prolific Cajamarca
metallogenic belt, host to several world-class deposits. Fidelity benefits
from strong in-country expertise and a management team with a proven track
record of discovery, development and value creation.

 

Project Highlights

 

·      Historical resource (non-NI 43-101 compliant(2)) of 6.57 Mt
grading 2.12 g/t Au and 25.2 g/t Ag, for a total of 446,000 oz gold and 5.3
million oz silver

·      The Epithermal gold-silver system at Los Socavones is open along
strike and at depth

·      Two confirmed porphyry systems - Cementerio and San Antonio -
identified on the flanks of the epithermal zone

·      Extensive historical work, including soil geochemistry,
geophysics, and more than 5.7 km of diamond drilling across 26 holes, as well
as 1.2 km of underground development on three levels

·      Five mineralised zones defined to date, encompassing multiple
styles of mineralisation - epithermal gold-silver, porphyry copper-gold, and
associated polymetallic systems

·      Significant historic intercepts include:

                      67 m (≈ 53 m true width) @ 2.7
g/t Au and 15.3 g/t Ag (LH97-08, Los Socavones)

                      99 m @ 0.47 % Cu, 0.11 g/t Au and
4.5 g/t Ag (LH97-04, Cementerio)

                      69 m @ 0.32 % Cu, 0.45 g/t Au and
3.0 g/t Ag (LH97-17, San Antonio)

 

The NI 43-101 Technical Report (Luc Pigeon, P.Geo, effective 18 Dec 2021)
concludes that Las Huaquillas hosts a large-scale hydrothermal system with the
potential to contain both epithermal gold-silver and porphyry copper-gold
mineralisation. The Los Socavones Zone remains open both down-dip and along
strike, with additional untested porphyry and epithermal targets identified
nearby.

 

Fidelity intends to use the net proceeds of its private placement to advance
its Peruvian exploration and community relation programmes, and for corporate
working capital purposes. Fidelity is advancing a near-term exploration
programme at Las Huaquillas that involves:

 

·    Renewal of the mining land use agreement with the landowners

·    Access to the Adit for sampling, assays, and verification of
historical geological data, with grades in Adit S1 ranging from 15 Au-g/t to
70 Au-g/t, including mapping

·    Conducting bulk industrial sampling with over 1 ton per sample

·    Approval for production with mining permits allowing up to 350 tons
per day (tpd)

·    Evidence that Fidelity has obtained community acceptance for the
Project and mining activities in the area

·    Drill permits - potential to be approved within months (subject to
standard Peruvian procedures)

 

Fidelity's Executive Chairman is John Byrne, the architect and former
Executive Chairman of Western Canadian Coal, which had an initial market
capitalisation of C$50m when he started, and was sold for over C$3
billion in 2010.

 

Dan Maling, Managing Director of Metals One, commented:

 

"It's rare to find opportunities with pre-money market valuations around CA$2
million which provide meaningful exposure to such large-scale
copper-gold-silver epithermal and porphyry systems in proven regional
settings. The opportunity for Fidelity - and therefore Metals One - lies in
rapidly advancing the Las Huaquillas Project through a formal resource
definition of gold, silver and copper in northern Peru, and progressing it
towards production. We look forward to exploring further opportunities with
the team at Lions Bay and unlocking the underlying project values across the
wider Lions Bay portfolio."

 

(2)Note: The historical resource estimate was prepared by Gariepy & Vachon
(1999) for Sulliden Exploration Inc. using the vertical longitudinal section
method based on 17 drill intercepts, a specific gravity of 2.8 g/cm³ and a
cut-off grade of 1.0 g/t Au over a minimum width of 3 m. A qualified person
has not done sufficient work to classify the estimate as current, and Fidelity
is not treating the historical estimate as a current mineral resource or
reserve.

 

Enquiries:

 

 Metals One Plc                                           info@metals-one.com (mailto:info@metals-one.com)

 Daniel Maling, Managing Director                         +44 (0)20 7981 2576

 Craig Moulton, Chairman

 Beaumont Cornish Limited (Nominated Adviser)             +44 (0)20 7628 3396

 James Biddle / Roland Cornish
 Capital Plus Partners Limited (Broker)                   +44 (0)207 432 0501

 Jonathan Critchley
 Vigo Consulting (UK Investor Relations)                  IR.MetalsOne@vigoconsulting.com +44 (0)20 7390 0230

 Ben Simons / Fiona Hetherington / Anna Stacey
 Fairfax Partners Inc (North America Investor Relations)  connect@fairfaxpartners.ca (mailto:connect@fairfaxpartners.ca)

                                                          +1 604 366 6277

 

About Metals One

 

Metals One is pursuing a strategic portfolio of critical and precious metals
projects underpinned by the Western World's urgent need for reliably and
responsibly sourced raw materials, and record high gold prices. Metals One's
shares are listed on the London Stock Exchange's AIM Market (MET1).

 

Map of Metals One projects/investments

 

 

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

X: https://x.com/metals_one_PLC (https://x.com/metals_one_PLC)

 

Subscribe to our news alert service on the Investors page of our website at:
https://metals-one.com (https://metals-one.com/)

 

About Fidelity Minerals Corp.

 

Fidelity Minerals Corp. has assembled a portfolio of high-quality mining
assets and is targeting large scale copper and gold and aims to delineate
major deposits on these properties that could attract the interest of mid-tier
and major mining companies. The company is focused on progressing its most
advanced project, Las Huaquillas, which is a gold, copper and silver in
Northern Peru. Fidelity is also looking to opportunistically expand its
project portfolio with accretive acquisitions. The company is backed by an
experienced management team with diverse technical, market, and commercial
expertise and is supported by committed, and sophisticated investors focused
on building long-term value.

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

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