Fulcrum Metals Plc · LSE:FMET
Fulcrum Metals — Investor Presentation (June 2025)
34 slides from Fulcrum Metals's investor presentation, June 2025
Slide 1: Turning Waste Into Gold
AIM: FMET TURNING WASTE INTO GOLD Corporate Presentation H2 2025
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 Capital Markets Limited, subsidiaries or affiliated companies. This presentation has not been filed, lodged, registered or approved in any jurisdictio
Slide 3: Turning Waste Into Gold Overview
AIM:FMET TURNING WASTE INTO GOLD OVERVIEW • AIM listed technology led mine waste reprocessing company • Directors hold circ. 29% Extrakt Starting with Production Technology 205k ounces Scale up Collaboration Gold Build out • Exclusive licence rights for • Estimated* at Fulcrum’s • Fulcrum have a pro
Slide 4: A Production Build Out Strategy
AIM:FMET A PRODUCTION BUILD OUT STRATEGY BUILDING CASH GENERATING ASSETS REPROCESSING HISTORIC MINE WASTE One site. One processing centre. At a time. Extrakt Technology Exclusivity regions Across Kirkland Lake & Timmins Legacy sites 73 Timmins & BUILD OUT • New sites & processing centres Kirkland la
Slide 5: 2025 Outlook Value Drivers
AIM:FMET 2025 OUTLOOK VALUE DRIVERS Resource drilling and assay analysis Teck Hughes Modern resource estimate and technical report Teck Hughes Phase 3 Optimisation testing and study work expanded testing to include critical minerals like Gallium Teck Hughes Monetising exploration assets Tully deal e
Slide 6: New Technology & Collaboration
AIM:FMET NEW TECHNOLOGY & COLLABORATION SETTING A NEW GREEN STANDARD TO ROLL OUT Eliminating the use of cyanide Extrakt Collaboration Implementing Extrakt’s cyanide free Exclusive rights of the Extrakt technology leaching and innovative TNSTM liquid solid for legacy gold mine waste across separation
Slide 7: Why Gold?
AIM:FMET WHY GOLD? WHAT IS DRIVING THE GOLD PRICE? Goldman Sachs projects gold prices to ▪ Economic uncertainty reach US$3,700 per ounce by the end of ▪ Geopolitical risk 2025, and up to US$4,000 per ounce by mid-2026, due to continued economic ▪ Central banks buying uncertainties. Source: World Gol
Slide 8: Tailings Opportunity
AIM:FMET TAILINGS OPPORTUNITY ▪ At surface and already mined 6km 217km 3 282.5 Ready for processing Height Volume Billion tonnes weight ▪ Expanding precious metal potential* +$10bn in Canadian mine waste estimated by Natural Resources Canada in 2019 ▪ Growing environmental liabilities# +$10bn estima
Slide 9: Our Projects
AIM:FMET OUR PROJECTS KIRKLAND LAKE GOLD TAILINGS Historic estimates* GOLD GOLD PROJECT TONNES GRADE OUNCES Teck-Hughes 6.5m 0.66g/t 138k Sylvanite 4.2m 0.47g/t 67k Total 10.7m 205k ▪ Projects are c.3km apart ▪ Several other tailing sites within 5km ▪ Proximity offers possible synergies and creation
Slide 10: Teck Hughes
AIM:FMET TECK HUGHES History ▪ 17 historic augur holes ▪ 85 surface samples ▪ Only sampled for gold Fulcrum Sampling New and selected resampling sites returned:- ▪ Gold average gold grades of upto 16.9% higher ▪ Silver 1.3g/t New discovery ▪ Gallium 17.3g/t New Discovery ▪ Tellurium 12.8g/t New disc
Slide 11: Teck Hughes Proven Concept
AIM:FMET TECK HUGHES PROVEN CONCEPT Phase 1: High-level testing with Extrakt A dirt field with tire tracks Description automatically generated • Significant gold recoveries up to 59.4% • Leach times to as little as 3 hours • No pre-treatment or re-grinds of tailings Phase 2: Non-optimised proven con
Slide 12: Teck Hughes Optimisation
AIM:FMET TECK HUGHES OPTIMISATION Resource work • Systematic augur sampling & assays • Optimise grade, tonnage, extent, depth, commodities • 43-101 Technical report & maiden modern resource Phase 3 Optimisation • Gold leach recovery • Leach times • Cost and recovery through filtration and recycling
Slide 13: Teck Hughes Path to Production
AIM:FMET 13 TECK HUGHES PATH TO PRODUCTION PHASE PROGRAM ESTIMATE TIMELINE Phase 1 Initial sampling and test work ✓ Gold recovery rate of 59.4% Phase 2 Conceptual study with +/-50% accuracy ✓ Pre-tax NPV7.5 US$33m Resource Additional assaying ✓ Discovered Gallium, Tellurium, Silver Resource Systemat
Slide 14: 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 over48 hours Fulcrum sampling averages ▪ Gold 0.56g/t ▪ Silver 1.1g/t ▪ Gallium 16.9g/t New discovery ▪ Tellurium 14.3g/t Phase 1:
Slide 15: The Board
AIM:FMET THE BOARD A BALANCE OF ENTERPRISE AND CORPORATE EXPERIENCE Ryan Mee Mitchell Smith Aidan O’Hara John Hamilton Alan Mooney Chief Executive Chairman Corporate Development Chief Financial Officer Independent Non-Executive Officer Director Director Experienced entrepreneur and Over 15 years of
Slide 16: ESG: Improving Social License
AIM:FMET ESG: IMPROVING SOCIAL LICENSE A CHANCE TO TRANSFORM MINE TAILINGS THROUGH INNOVATION REGENERATE REPURPOSE Nature and local environments Historic mine waste and sites into assets REDUCE POSITIVE The carbon and waste pollution Mining asset class and use of equity footprint of the metals suppl
Slide 17: Share Capital Structure
AIM:FMET SHARE CAPITAL STRUCTURE AS AT 2 June 2025 FUNDAMENTALS WARRANTS Shares in issue 64,625,943 Warrant Value if Expire Price shares converted Market Cap at 4.5 pence £2..9m Feb 2026 17.5 1,617,526 £283,067 52 week low - high 3.95 – 15.35 pence Aug 2026 18.5 263,513 £48,750 Feb 2026 26.25 476,19
Slide 18: ESG Principles
AIM:FMET ESG PRINCIPLES ENVIRONMENTAL – SOCIAL - GOVERNANCE The company holds sustainable and responsible ▪ Supports local job creation and protecting the well- exploration and development at the core of its operations, being of employees and local communities and operates in an honest and ethical m
Slide 19: Summary
AIM:FMET Summary • Clear Path to Production • Low capex - no mining, just processing tailings • Exclusive rights of Extrakt’s processing technology on historic gold mine waste in Timmins and Kirkland • Access to an estimated 205k ounces of gold from the Company’s Kirkland Lake Projects • Significant
Slide 20: Connect With Us
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 3ET, Engla
Slide 21: Appendix: Exploration Portfolio
AIM:FMET Corporate Presentation Winter 2024 APPENDIX Exploration portfolio AIM:FMET
Slide 22: Advisors & Partners
AIM:FMET ADVISORS & PARTNERS TECHNICAL & TECHNOLOGY ADVISORS PARTNERS EDWARD SLOWEY Extrakt Process Solutions LLC (“Extrakt”) is a technology company that is Technical Advisor focused on separation technologies for precious mineral recovery, Qualified geologist with more than 40 years' experience in
Slide 23: Systematic Approach
AIM:FMET SYSTEMATIC APPROACH 2023 2024 2025 • Listed on AIM • Signed technology testing agreement with • Signed exclusive Master Licence • Big Bear Project Exploration Extrakt for Teck-Hughes and Sylvanite tailing Agreement with Extrakt over Kirkland ✓ Major structural targets projects Lake and Timm
Slide 24: Ontario
AIM:FMET ONTARIO Exploration projects on significant mineral belts Ontario Fulcrum Metals Hemlo-Schreiber Carib Creek Marathon >20Moz gold produced Inset map Canada Frontier Energy Thunder Bay Timmins Winston Lake Copper-Zinc GT Resources Barrack Tyco project Hemlo Nickel-Copper Gold Mine Fulcrum Me
Slide 25: Exploration Projects for Monetisation
AIM:FMET EXPLORATION PROJECTS FOR MONETISATION • Tully Gold Project under LOI • Saskatchewan Uranium Projects under option • Schreiber-Hemlo Big Bear gold corridor and drill targets established • Tocheri Lake conductors identified • Dog Lake mineralised intrusive rock with Nickel samples upto 0.27%
Slide 26: Timmins Tully Gold
AIM:FMET TIMMINS TULLY GOLD Open for expansion Ontario On 9 April 2025, the Company announced that it had signed a letter of intent (the Marathon "LOI") with TSX Venture Exchange listed Loyalist Exploration Limited ("Loyalist") for Canada Timmins the sale of its 100% interest in the Tully Gold Proje
Slide 27: Uranium Investment
AIM:FMET URANIUM INVESTMENT Saskatchewan, Northern Athabasca region Athabasca Basin Canada Optioned out the uranium portfolio to Terra Balcanica Resources (CSE:TERA) Saskatchewan 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 to Fulcrum
Slide 28: Timmins Tully Gold
AIM:FMET TIMMINS TULLY GOLD Open for expansion Ontario Bradshaw Gold Mine Marathon Canada 1.2Moz Au - under Timmins Drill hole 97-01 Thunder Bay 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 metres Mafi
Slide 29: Timmins Tully Gold
AIM:FMET TIMMINS TULLY GOLD Proven strike length open for expansion Ontario Marathon Canada Property boundary Timmins Thunder Bay ▪ ‘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 showed extensi
Slide 30: Timmins Tully Gold: Within Prolific Timmins-Porcupine Camp
AIM:FMET 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* +2,000m +10.5M
Slide 31: Schreiber-Hemlo Project Area
AIM:FMET SCHREIBER-HEMLO PROJECT AREA High grade gold project drill ready for discovery Ontario Marathon Canada Thunder Bay Timmins ▪ High grade 3km+ gold corridor at Schreiber-Pyramid ▪ Drill ready ▪ Further targets ▪ 5 additional high priority geophysical target areas with a total ▪ 441 anomalies
Slide 32: Schreiber-Hemlo – Big Bear
AIM:FMET SCHREIBER-HEMLO – BIG BEAR Schreiber-Pyramid gold corridor drill ready for discovery Ontario 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 anomalies
Slide 33: Ontario Non-Core Projects
AIM:FMET ONTARIO Non-core projects available for option, Joint Venture, or disposal Tocheri Lake Carib Creek Dog Lake Dayohessarah Winston Lake Wawa (VTEM) airborne geophysical survey Copper exploration target identified with Limited rock sampling programmes conducted over the Southwest corner of hi
Slide 34: Northern Saskatchewan Uranium Projects
AIM:FMET NORTHERN SASKATCHEWAN Uranium projects Charlot-Neely 16,372ha Fontaine Lake 5,987ha ▪ Structure Black Bay Fault ▪ Structure Grease River Fault ▪ Historic mines. 14 within 10km of the ▪ Mineralisation up to 1.4% U308 Black Bay fault ▪ Mineralisation up to 6.2% U308 Athabasca Basin South Pend