REACH: non-regulatory announcement*

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

4 March 2024

Fulcrum Metals plc

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

Appointment of Strategic Adviser

Fulcrum Metals plc (LON: FMET), a company focused on mineral exploration and development in Canada, is pleased to announce that it has appointed Jason Brewer as a strategic adviser to the Board of Directors with immediate effect.

Mr Brewer has over 28 years' experience in international mining, financial markets, and investment banking. This includes holding senior executive positions with a number of major global investment banks, including Dresdner Kleinwort Benson, NM Rothschild & Sons and Investec and with listed fund management companies focused on the mining and metals sector. He is the co-founder of Gathoni Muchai Investments Limited, an active African focused private equity-style mining investment company, CEO of London listed Marula Mining plc, director of Shuka Minerals plc and Unicorn Mineral Resources plc, and Non-Executive Chairman of London Listed Neo Energy Metals plc. Mr Brewer is also the founder of the Mayflower Childrens Foundation, an organisation that aims to improve the education, health, and wellbeing of African children through a variety of charitable programmes.

Ryan Mee, Chief Executive Office of Fulcrum, commented: "I'd like to welcome Jason Brewer as a strategic adviser to Fulcrum's board at an exciting time in the company's development. Jason has a wealth of experience in the listed junior mining space, and we look forward to drawing on his experience and expertise at this pivotal stage in Fulcrum's growth in both Canada and as a listed company."

Jason Brewer added: "I'm delighted to be appointed as a strategic adviser to the Board of Fulcrum Metals. This opportunity represents a significant milestone in my professional journey, as it will allow me to extend the reach of my expertise and contribute to the success of Fulcrum Metals.

Fulcrum Metals' gold strategy in Ontario, Canada is one I believe they can deliver on in the short term, and I am particularly excited about the potential of the Tailings Technology which could unlock significant value in the gold tailings market in Ontario as they look to secure and deliver early cashflow using proven, effective, and environmentally friendly techniques. Fulcrum's strategy of delivering value to shareholders is something I am focused on at all listed companies I am involved with and it's great to be working with a Board that has a similar ethos.

This role also holds a special personal resonance, as it brings me back to my roots in Timmins, where I commenced my mining career after graduating from university. Timmins is such a well-established and proven mining operating environment and offers a number of growth opportunities for the Company.

"I look forward to collaborating with the talented team and leveraging our collective strengths to drive Fulcrum Metals forward."

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Notes to Editors

FULCRUM METALS - BACKGROUND

Fulcrum Metals PLC (LON: FMET) is an AIM quoted exploration company which finances and manages exploration projects focused on Canada, widely recognised as a top mining jurisdiction.

Fulcrum currently holds a beneficial 100% interest in highly prospective gold and base metals projects in Ontario and uranium projects in Saskatchewan.

Fulcrum's strategy is to focus on discovery and commercialisation of its Projects through targeted exploration programmes. The primary focus is to make an economic discovery on the flagship Schreiber-Hemlo Properties and to establish the prospectivity of its wider Ontario and Saskatchewan portfolio with a view to securing potential joint venture and/or acquisition interest.

The Schreiber - Hemlo properties have a history of prospecting and localised extraction since the late 19th century. However, coherent property-level exploration programmes have been limited or absent, particularly in recent times. Fulcrum has an opportunity to carry out such a programme and this approach provides the best opportunity to fully explore the significant prospectivity of the properties. A recent structural study identified 42 priority exploration targets, of which 24 targets within the Big Bear property and 18 in the Jackfish property, with 14 in total (9 on Big Bear and 5 on Jackfish) being ranked as high priority for follow-up. The properties have the potential to host a large, structurally controlled, stratabound-style banded iron formation (BIF) gold prospect similar to the Musselwhite deposit (McNicoll et al., 2016), in addition to an Archean greenstone, orogenic-style lode gold prospect, extending past the bounds of known historical mineral occurrences.

The Tully property, 458 hectares in area, is located 30 kilometres northeast of Timmins, Ontario and includes the Tully (Timmins North) deposit, which has been the focus of several drilling campaigns since its discovery in 1969. The Tully deposit is located 2 kilometres southwest of the Bradshaw Gold Project of Gowest Gold Ltd., currently in development. The property is accessed by an all-weather gravel road that extends 15 kilometres to the east off of highway 655.

While highly prospective, Fulcrum's mining assets are in the exploration phase, so Fulcrum stands to be able to add significantly to the inherent value through exploration success. Fulcrum will continually review opportunities with potential and with a view to increasing shareholder value. It is the Board's intention to deliver medium and long-term growth and to establish the Group as a significant exploration company.