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

16 December 2025

Fulcrum Metals plc

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

Completion of expanded auger drilling programme at Teck-Hughes

A total of 159 holes drilled to date

Fulcrum Metals plc (AIM:FMET), a company pioneering the use of innovative technology to recover precious and critical metals from mine waste, announces the completion of the expanded auger drill programme at the Teck-Hughes gold tailings project, located in Kirkland Lake, Ontario, Canada. 

Further to the Company's announcements on 15 October 2025 reporting the completion of an initial 94 auger drill holes with gold grades averaging 0.65g/t from surface, and on 25 November 2025 with the expansion of the auger drill programme, the Company now reports the completion of the expanded auger drill programme with 159 holes drilled in total. The auger holes have been drilled from surface to a maximum depth of 12.4 metres.

The Company intends to release the results from the auger drill programme reporting on critical mineral assays of the initial 94 holes followed by gold and critical mineral assays for the complete programme of 159 auger drill holes. Timing of these updates are dependent on return of the assay results from the lab.

Ryan Mee, CEO of Fulcrum Metals, commented: "2025 has seen significant progress in advancing Teck Hughes towards production. The completion of the auger drill programme marks another major milestone alongside the recently announced strong preliminary Phase 3 metallurgical results, which demonstrated gold and silver recoveries of over 70%.

Fulcrum enters Q1 2026 with clear objectives of completing two key workstreams in parallel - assay reporting and analysis from the auger drill programme and the completion of the Phase 3 detailed metallurgical and optimisation testing with Extrakt.

The Company will continue to provide shareholders with regular updates as work at Teck Hughes advances, including the modelling of a Mineral Resource Estimate and the next steps towards production."

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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 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"). Fulcrum's initial projects are the tailing sites of the former Teck-Hughes and Sylvanite gold mines in the Kirkland Lake mining camp of Ontario. In addition, the Company has interests in a portfolio of highly prospective mineral exploration and development projects in both Ontario and Saskatchewan, Canada.

Fulcrum has an exclusive Master Licence Agreement ("MLA") for the rights to Extrakt's proven cyanide free leaching technology on gold mine waste sites over the mining districts of Timmins and Kirkland Lake. These are two of Canada's biggest gold camps with historical gold production of over 110Moz over the past 100 years and more than 70 documented legacy mine waste sites. This presents Fulcrum with the opportunity to develop into a significant, environmentally friendly, near term gold producer.