The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

FIRST CLASS METALS PLC

23 April 2026

Bonanza Gold Intercept at Roy, Sunbeam

First Class Metals PLC ("First Class Metals", "FCM" or the "Company") the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to report initial drill results for holes 1-4 and provisionals for holes 5 and 6 from the drilling at the Roy prospect on the Sunbeam Property.

Highlights

·    Bonanza-grade gold intersected in drill hole SUN-26-05, with visible gold observed, highlighting the presence of a high-grade mineralising system

·    Provisional Fires assays ("FA") results have been received from holes SUN-26 01 to 04

·    Provisional Photon assay results confirm high-grade gold in holes SUN-26-05 and 06, including the standout bonanza intercept

·    Results prove that the Roy lineament is a gold bearing structure, validating the Company's geological model.

·    The drilling has demonstrated geological continuity over >250m of strike, supporting potential for scale along the structure.

·    Logging is completed and drill hole interpretation started.

·    Very Low Frequency ("VLF") survey identifies multiple additional conductive targets along strike at Roy.

·    The Roy VLF survey to be extended to the northeast to test further strike extensions and unlock additional potential

·    VLF survey to commence at Pettigrew early May, targeting a parallel mineralised structure

·    Additional assay results pending, with further updates to follow as results are received

Marc J. Sale CEO First Class Metals Commented:

"The initial assay results from the drilling at Roy have vindicated our belief that the Sunbeam property contains significant gold potential. The drilling at Roy has tested only 1% of the known strike extent of the mineralised lineaments. To put Roy in perspective one must recall that Hammond Reef, only 10km to the northwest, has an average grade of 0.84g/t gold, with no reported 'high grade'. At Roy we have identified low grade zones as well as importantly bonanza grade gold values. I feel confident that, as we grow our understanding based on the information generated by FCM's new approach at Roy we can not only upgrade the Roy values but mirror this across the property."

https://firstclassmetalsplc.com/link/Pmddar

Roy structure

The lineament that the Roy occurrence / development is located on is a district scale structure. It has now been traced through historic work and prospecting by Emerald Geological Services ("EGS") towards the 111ppb lake sediment sample, some 5km northeast along strike of the Roy mine shaft. The structure also hosts historic shafts B43 and B45. The recent VLF interpretation shows multiple conductors sub parallel to the Roy trend, which further enhances the potential, see Figure 1.

Figure 1 Showing the soil (and coincident VLF) grid, locations of historic shafts, including Roy, and drill holes around the Roy shaft as well as the strike extension to the NE.

Drill results

The Fire Assay for the first four drill holes have been received.

The initial hole which attempted to twin the historic drill hole (SP-11-12 4g/t Au over 1.85m) contained ~2m @1.3g/t Au; the second hole contained 1.1m @ 2.3g/t. Holes three and four both contained a metre at roughly 0.5g/t Au.

The photon assay results have also been received for the three sections of core with reported VG.

Hole 06 (second reported dual occurrence of VG) contained two consecutive samples giving 0.6m @ 2.2g/t Au. Significantly hole 05 which contained the initial report of VG, returned 0.3m @ 45g/t gold which would equate to almost 5 ounces of gold over one metre, 150g/m (gram metres).

Figure 2 Showing the initially reported VG in hole 05, with strong association to galena (lead mineral).

The fire assays  for holes 05 and 06 are still to be received, given the coarse nature of the gold and the different quite distinctive assay methods some discrepancy with the photon assays are expected.

Initial plots of the anomalous gold assay result confirm the continuity of the mineralised package over >150m, see Figure 3.

All 12 holes intersected the targeted 'structure' or the potentially mineralised package which is now confirmed over a strike length exceeding 300m, see Figure 3 and remains open along strike to the northeast and southwest.

Figure 3 showing the 12 drill holes at Roy with initial interpretation of the potentially mineralised package which extends over 300m.

The initial 4 drill hole results, all contain anomalous to +2g/t Au and are considered encouraging. Even more so give the bonanza value in the photon assay of almost one and a half ounces in hole 05.

The strike extent of the drilling covers ~300m but the soil sampling (and in part VLF) grid extends over 1,500m to the northwest. A highly anomalous lake sediment sample collect in 2023 containing 111ppb Au is a further 1,500m along strike from the end of the soil grid. There is also a string of grab samples along strike to the southwest with a +1ppm samples 5 km along strike. All these factors continue to build up the expectation of a +10km mineralised structure. The Roy lineament is one of three structures on the Sunbeam property with proven gold occurrences.

The initial results from the LiDAR study have shown the Roy lineament is a very robust structure. It is intended to extend the VLF grid to cover the northern soil survey area and potentially. Provisionally both could be extended further to the northeast.

The visible gold is seen in association with galena, potentially an important pathfinder. The lead (Pb) and gold when plotted on the soil grid indicate several 'bullseyes' along strike where highly anomalous Au and Pb assay results are recorded, see Figure 4

Figure 4 showing the coincident Pb and Au anomalism.

Work is ongoing integrating the VLF, LiDAR and geochemistry with the local geology and structure.

As the weather is steadily improving in northwest Ontario, the 'thaw' heralds the start of the field season. Work will continue at Roy as described above and it is intended to undertake work on the parallel lineament that hosts the Pettigrew development. Historic drilling by TerraX produced 19.4 g/t Au over 0.63m and 15.17 g/t over 1.37m in two zones separated by 15m in hole 57751. Channel and grab samples from FCM exploration have returned significant gold grades, including:13.0 g/t Au grab sample from quartz rubble dug up beside the stripped outcrop. 3.5 g/t Au in a channel over 0.2m in a quartz vein (with galena and chalcopyrite); 1.82 g/t Au in a channel over 0.75m in sheared porphyry.

The growing understanding of the structural controls to the mineralisation gleamed from the ongoing work at Roy will be used to explore the area immediately around the Pettigrew shafts and pits as this zone is all-weather accessible.

Qualified Person

The technical disclosures contained in this announcement have been drafted in line with the Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30 years in the gold exploration industry and is considered a Qualified Person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.

Glossary of Technical Terms

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:www.firstclassmetalsplc.com

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

AlbR Capital Limited

David Coffman / Dan Harris

Website: www.albrcapital.com
Tel: (0)20 7469 0930

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

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 owned by Hemlo Mining Corp., (>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 250km² in northwest Ontario. A further three blocks are under option and cover an additional 30km².FCM is focussed on exploring for gold but has base metals and critical metals mineralisation. FCM is maintaining a joint venture with GT Resources on the West Pickle Lake Property a drill-proven ultra-high-grade Ni-Cu project.

The flagship properties, North Hemlo and Sunbeam, are gold focussed. North Hemlo has a significant discovery in the Dead Otter trend which is a discontinuous 3.5km gold anomalous trend with a 19.6g/t Au peak grab sample. This sampling being the highest known assay from a grab sample 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 successfully drilled prior to Christmas 2023 and results have now been released.

The Kerrs Gold property, acquired under option by First Class Metals in April 2024, is located in northeastern Ontario within the Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions. The project holds a historical inferred resource of approximately 386,000 ounces of gold, underscoring its potential as a meaningful addition to FCM's expanding gold portfolio. Kerrs Gold complements the Company's exploration strategy and provides exposure to a well-established mining district. FCM is currently reviewing plans to advance the project and further unlock its value.

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).

For further information see the Company's presentation on the web site:

www.firstclassmetalsplc.com

Forward Looking Statements

Certain statements in this announcement may contain forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.