First Class Metals Plc

("First Class Metals", "FCM" or the "Company")

Publication of Prospectus and Issue of Equity

First Class Metals Plc (LSE: FCM), the Canada-focused precious and base metal explorer, with extensive land holdings in northern Ontario, is pleased to announce that, further to the announcement on 18 December 2024, it has today published a Prospectus ("Prospectus"). The Prospectus, which has been approved by the Financial Conduct Authority ("FCA"), has been published on the Company's website at https://firstclassmetalsplc.com/prospectus-and-reports and will also be available at the FCA's Document Storage Mechanism at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

The Prospectus has been published to enable the issue and admission to the Official List (Equity Shares (transition) category) and to trading on the Main Market of the London Stock Exchange ("Admission") of 90,922,121 new ordinary shares of £0.001 each ("Shares"),  of which 78,552,084 are being issued to The 79th GRP Limited by way of a subscription at a price of 1.7 pence per share.  The balance of the Shares are being issued to fulfil certain contractual obligations.

Application will be made for the Admission of 90,922,121 Shares. It is expected that Admission will become effective on or around 28 February 2025. The Shares will rank pari passu with the existing ordinary shares of the Company.

On Admission, the Company's issued ordinary share capital shall consist of ordinary shares with each ordinary share carrying the right to one vote. Following the issue of the Shares the total issued share capital of the Company will comprise 191,741,361 Ordinary Shares. The Company has no Ordinary Shares held in treasury. Accordingly, the figure of 191,741,361 represents the total voting rights in the Company and should be the figure used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance & Transparency Rules.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

Ends

For Further Information:

Engage with us by asking questions, watching video summaries, and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here:

https://firstclassmetalsplc.com/auth/signup

For further information, please contact:

James Knowles, Executive Chair
Email: [email protected]
Tel: 07488 362641

Marc J Sale, CEO
Email: [email protected]
Tel: 07711 093532

Novum Securities Limited (Financial Adviser)
David Coffman / Daniel Harris
Website: www.novumsecurities.com
Tel: (0)20 7399 9400

Axis Capital Markets (Broker)
Lewis Jones / Ben Tadd
Website: Axcap247.com
Tel: (0)203 026 0449

NOTES TO EDITORS

First Class Metals PLC - Background

First Class Metals listed on the LSE in July 2022 and is focused on metals exploration in Ontario, Canada which has a robust and thriving junior mineral exploration sector. In particular, the Hemlo 'camp' near Marathon, Ontario is a proven world class address for gold exploration, featuring the Hemlo gold deposit operated by Barrick Gold (>23M oz gold produced), with the past producing Geco and Winston Lake base metal deposits also situated in the region.

FCM currently holds 100% ownership of seven claim blocks covering over 180km² along a 150km strike of the Hemlo-Schreiber-Dayohessarah greenstone belt, exploring for gold, base metals, and rare earth element mineralization. In addition, FCM is carrying out a joint venture with Palladium One on the West Pickle Lake Property in the region, a drill-proven ultra-high-grade Ni-Cu project.

The flagship property North Hemlo had a high-definition low level magnetic Heli-borne survey flown in April 2022, this was followed with ground prospecting which ultimately defined the 'Dead Otter Trend' which is a discontinuous 4.5km gold anomalous trend with a 19.6g/t Au peak grab sample. This sampling being the highest known assay ever recorded on the North Limb of Hemlo.

In October 2022 FCM completed the option to purchase the historical high-grade past-producing Sunbeam gold mine near Atikokan, Ontario, ~15 km southeast of Agnico Eagle's Hammond Reef gold deposit (3.3 Moz of open pit probable gold reserves).

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The property features Li-Ta-bearing pegmatites in the same belt as Green Technology Metals' Seymour Lake Project, which contains a Mineral Resource estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was drilled prior to Christmas 2023 and results have now been released.

The significant potential of the properties for precious, base and battery metals relates to 'nearology', since all properties lie in the same districts as known deposits (Hemlo, Hammond Reef, Seymour Lake), and either contain known showings, geochemical or geophysical anomalies, or favourable structures along strike from known showings (e.g. the Esa project, with an inferred Hemlo-style shear along strike from known gold occurrences).