Fulcrum Metals Plc · LSE:FMET
Fulcrum Metals — Investor Presentation (December 2025)
23 slides from Fulcrum Metals's investor presentation, December 2025
Slide 1: Turning Waste into Gold
Corporate Presentation Q4 2025 AIM: FMET TURNING WASTE INTO GOLD Reprocessing historic mine waste with breakthrough clean technology
Slide 2: Disclaimer
AIM: FMET DISCLAIMER The name “Company” refers to Fulcrum Metals PLC and its advisers including (but not limited to) Allenby Capital Limited and Clear Forward-looking statements Capital Markets Limited, subsidiaries or affiliated companies. Statements in this presentation that address exploration ac
Slide 3: Overview
AIM: FMET OVERVIEW Fulcrum Metals (AIM: FMET) ESG aligned Technology driven Near-term, fast payback production tailings reprocessing company opportunity with two initial projects in leading mining jurisdiction of Teck-Hughes (100% owned) and Sylvanite Canada (under option) in Kirkland Lake Using dis
Slide 4: Clean Tech Legacy Gold Strategy
AIM: FMET CLEAN TECH LEGACY GOLD STRATEGY z The Foundation & Vision Starting with Estimated 205k ounces of gold* Reprocess and rehabilitate historic tailings sites The Technology Advantage Extrakt’s cyanide free, high recovery, quicker process Zero cyanide Zero waste approach Current Phase Advancing
Slide 5: The Foundation & Vision
AIM: FMET THE FOUNDATION & VISION Starting with Estimated 205k ounces of gold KIRKLAND KIRKLAND LAKE LAKE Large surface accessible inventory SYLVANITE ▪ Two tailing projects – Teck Hughes and Sylvanite* ▪ Surface exposed tailings ▪ No mining, blasting, stripping Tier 1 district TECK HUGHES ▪ >24 Moz
Slide 6: The Technology Advantage
AIM: FMET THE TECHNOLOGY ADVANTAGE Zero Cyanide High Gold Recoveries In Hours Not Days Leaching Fulcrum Conventional Improvement Extrakt TNSTM Technology3 Metric Extrakt Process1 Method2 Metric ▪ Cyanide-free leaching + dewatering Leach recovery % >70% 30% Higher ▪ Proven uplift faster, cleaner Leac
Slide 7: Current Phase: Advancing Teck Hughes to production
AIM: FMET CURRENT PHASE Advancing Teck Hughes to production Base case US$33m NPV 59% gold recovery, $2,899 gold, 6-hour leach, 9-year life, 2k tonnes per day (leach only) Upside case potential ▪ +25% in recoveries or gold price >US$75m ▪ Recovery of critical minerals, water, reagent 2025 Auger progr
Slide 8: Current Phase: Advancing Teck Hughes to production
AIM: FMET CURRENT PHASE Advancing Teck Hughes to production Underway >> Auger drill program • 150 holes nearly complete >> Phase 3 Optimisation • Detailed leach work • +70% preliminary gold & silver recoveries • Finalise including critical minerals • Dewatering • Confirm resultant tailings dryness •
Slide 9: Designed to Scale
AIM: FMET DESIGNED TO SCALE Multi-site expansion ▪ First site Commission Teck Hughes ▪ First hub Expand with Sylvanite Expand with Kirkland Lake local sites ▪ Scale Concept across 70+ legacy tailings sites across 110Moz Timmins and Kirkland Lake gold camps ▪ Build Regional hubs and individual sites
Slide 10: Sylvanite
AIM: FMET SYLVANITE History ▪ 20 auger holes ▪ Bulk concentrating achieved 21.1g/t Au, 14.1g/t Ag, 152g/t Te ▪ Cyanide leach testing in 2008 achieved c.30% gold recovery over 48 hours Fulcrum sampling averages ▪ Gold 0.56g/t ▪ Silver 1.1g/t +4m 67k 0.47 ▪ Gallium 16.9g/t g/t ▪ Tellurium 14.3g/t Esti
Slide 11: Market Size Potential
AIM: FMET MARKET SIZE POTENTIAL FMET1 CANADA2 CANADA3 GLOBAL4 KIRKLAND KIRKLAND ONTARIO LAKE PROJECTS LAKE & TIMMINS ABITIBI Legacy sites5 2 73 Past Gold production 5Moz 110Moz 190Moz At 5% Residual Gold 200k Oz 5.5Moz 9.5Moz Potential in situ Gold at US$4k per oz $800m $23bn $38bn Potential Preciou
Slide 12: Investment Case
AIM: FMET INVESTMENT CASE Near-term production Long-term scalability Long-term sustainability Investments from asset disposals Loyalist Exploration - TSXV:PNGC ▪ Low CAPEX, high margin opportunity 78,972,740 shares held $0.03 CAD share price 27 Nov 25 ▪ Exclusive rights to Extrakt’s proven technolog
Slide 13: ESG in Action
AIM: FMET ESG IN ACTION Sustainable gold for a cleaner future ▪ Zero-cyanide process ▪ Creates local jobs and restores land ▪ Rehabilitates historic mine waste sites ▪ Aligned with global ESG frameworks REHABILITATE REPURPOSE Nature and local environments Historic mine waste and sites into assets RE
Slide 14: The Board
AIM: FMET THE BOARD Experienced, invested management Ryan Mee Mitchell Smith Aidan O’Hara John Hamilton Alan Mooney Chief Executive Independent Corporate Development Chief Financial Independent Officer Non-Executive Chairman Director Officer Non-Executive Director Experienced entrepreneur and Over 1
Slide 15: Advisors and Partners
AIM: FMET ADVISORS AND PARTNERS Technology, Engineering and Technical ADVISORS PARTNERS Edward Slowey Technical Extrakt Qualified geologist with more than 40 years' experience in mineral Process Solutions LLC (“Extrakt”) is a technology company that is exploration, mining and project management acro
Slide 16: Share Capital Structure
AIM: FMET SHARECAPITAL STRUCTURE As at 27 November 2025 FUNDAMENTALS DIRECTORS SHAREHOLDING SIGNIFICANT SHAREHOLDERS +3% Shares in issue 124,512,212 Ryan Mee (CEO) 13,024,123 10.46% Nick Nugent 16,486,688 13.24% Market Cap £8.4m Aidan O’Hara (CDD) 10,244,952 8.31% John Story 14,031,425 11.26% Alan M
Slide 17: Connect with Us
AIM: FMET AIM:FMET CONNECT WITH US CONTACT US Ryan Mee Mitchell Smith CEO Chairman rmee@fulcrummetals.com msmith@fulcrummetals.com email email +44 75404-21208 +1 (604) 209-6678 Cell (UK) Cell: (Can) Fulcrum Metals Plc Unit 58, Basepoint Business Centre, Isidore Road, Bromsgrove Enterprise Park, B60
Slide 18: Appendix: Exploration portfolio & Corporate
AIM:FMET Corporate Presentation Winter 2024 APPENDIX Exploration portfolio & Corporate
Slide 19: Timmins Tully Gold Project
AIM: FMET PROJECT TIMMINS TULLY GOLD Ontario Open for expansion Marathon Canada Thunder Bay Timmins Bradshaw Gold Mine 1.2Moz Au - under Drill hole 97-01 development < 2km 322.02g/t Au over 5.7 metres away Mafic to ultramafic from 215.7 metres including: - metavolcanic rock 2,555.5g/t Au over 0.5 me
Slide 20: Timmins Tully Gold Project
AIM: FMET PROJECT TIMMINS TULLY GOLD Ontario Proven strike length open for expansion Marathon Canada Thunder Bay Timmins Property boundary ▪ ‘Ladder-style’ stacked vein system ▪ Resource constrained by drilling to 400m of 1,600m strike between depths of 200 to 400 metres ▪ 2013 drilling by SGX showe
Slide 21: Timmins Tully Gold: Within Prolific Timmins-Porcupine Camp
AIM: FMET PROJECT TIMMINS TULLY GOLD Within Prolific Timmins-Porcupine gold camp > 70Moz MINE OUNCES OF GOLD APPROXIMATE VERTICAL DEPTH IN YEARS OF *FORMER PRODUCED & ALL DISTANCE TO TULLY METRES PRODUCTION PRODUCER RESOURCES GOLD PROJECT IN KM Hollinger Mine* +1,500m +19Moz +60 30km McIntyre* +2,00
Slide 22: Schreiber-Hemlo – Big Bear Project
AIM: FMET PROJECT SCHREIBER-HEMLO – BIG BEAR Ontario Schreiber-Pyramid gold corridor drill ready for discovery Marathon Canada Thunder Bay Timmins ▪ Multiple drill ready targets and drill prospects ▪ Recent database (since 2020) of 37 rock samples over 1g/t Au up to 139g/t ▪ Several anomalous soil a
Slide 23: Uranium Investment
AIM: FMET PROJECT URANIUM INVESTMENT Athabasc a Saskatchewan, Northern Athabasca region Basin Canad a Saskatche Optioned out the uranium portfolio to Terra Balcanica Resources wan (CSE:TERA) on 2 July 2024 over a 4-year term for CA$3.36m in cash and shares, CA$3.25m in work expenditures and a 1% NSR
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