Fulcrum Metals (LSE:FMET) — Investor Presentation

0:01 Good morning, ladies and gentlemen, and welcome to the FULCRUM METALS PLC investor presentation. Hand corner of your screen. Please just simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company will review all questions submitted today and publish responses where it is appropriate to do so, and these will

0:31 be available via your investor meet company dashboard. Before we begin, if I may, I would like to submit the following poll. And if you could give that your kind attention, I'm sure the company would be most grateful. And I'll now like to hand you over to CEO, Ryan Mee. Good morning, sir. Good morning, and thank you for joining this morning to listen and about FULCRUM METALS PLC. I am Ryan Mee. I'm I'm the CEO of FULCRUM METALS. I actually cofounded the the business. My background is an experienced successful CEO private investor in the natural resources space. I've been an entrepreneur in this space for a number of years. And from that, I've gained, extensive and valuable knowledge of exploration companies, business, commercial acumen, raised private funds, managed investments, and gained a a great deal of understanding on strategic and business planning.

1:33 Who are FULCRUM METALS? So FULCRUM are AIM listed multi commodity explorer. We're focused on Canada, which offers low sovereign risk and world class geology and is ultimately investor friendly. That's evidenced by the Fraser Institute. It's ranked second as the as the most attractive region in the world for mining investment. As part of the listing in February this year, we raised 3,000,000. We have a diverse, highly prospective portfolio of gold, base metals, and uranium projects. Our projects are positioned close to these mineral rich prospective areas and near to producing or near producing assets. The market fundamentals for gold, base metals, uranium is in in a fantastic place.

2:22 We're seeing governments buy gold at record levels not seen historically. And we're seeing the net zero ambition globally really underpin the base metals in uranium market. FULCRUM offers an investment opportunity in an extremely attractive region. We've got a very defined development strategy, which will offers near and long term upside opportunity to investors. Our management team are highly experienced, and our strategy is of an opportunities opportunistic approach. So our portfolio of assets, we have four gold and base metal projects in Ontario covering around 250 square kilometers.

3:08 We've got two uranium projects in Saskatchewan. That's in the Northern Athabasca region covering around a 136 square kilometers. Our flagship property is in Ontario. It's the Tribe Of Hemrae project. Covers a significant land package of around a 113 square kilometers. And it actually consists of two properties that both demonstrate high grade gold at surface priority magnetic targets. We've got important mapped shear zones for which demonstrates potential for economic ore deposits. And importantly, it's not drilled, so we're going to get out there and test it. At Winston Lake, we had joined the Winston Lake mine, which is reportedly the highest grade zinc mine in North America.

3:56 The Wawa project, which is just 30 kilometers away from 2,000,000 plus ounce gold deposits. We've got the project, which adjoins the Tyco project, which is held by Palladium one. In Saskatchewan, we've got the Charlotte Neele light project. We've got some high grade uranium rock samples and some high grade gold drilling intersections of up to 1.4 ounces of gold. And the Fontanel project where we've we've got some very good uranium samples of up to 1.4%, and rather interestingly, some noted rare earth occurrences with niobium up to point 70.1% tantalum. So essentially, we're going for discovery on our flagship Troy Buhemro project. And the rest of the projects, we're going to be moving these along the development curve, looking for JV and other value creating opportunities for shareholders to create value.

4:51 So since listing, we've released a number of news items. Schreiber Hemlo, we released the groundworks results of Big Bear from 2022. And we're seeing all the right things that we want to see to make that discovery in that area. We've got high grade, golden rock samples. We've identified shear zones, which have been mapped, which have the potential for mineral discoveries. And what we've really realized is this has a potential to host a much larger mineralized system that's been previously recognized. We've also completed airborne magnet magnetic surveys across some some areas of the property. And we've also conducted a structural survey, which identified which was very positive.

5:37 It's identified 42 priority targets across the project area. What we're waiting for back is the final airborne survey results, which will be over the next few months. And we're looking to be drilling later on this year and getting ground crews out there by the end of this month to start that process. At Toshiba Lake, we've completed airborne magnetic surveys. It covers 232 line kilometers. We're waiting on those results to come back to us. At Winston Winston Lake, we've expanded the property area by an extra approximately nine square kilometers. In this area, we've got previous reports of copper samples of up to 1.35%. Rather excitingly, we've got a copper in solar anomaly of around two square kilometers with copper of up to 1,100 ppm.

6:28 And really importantly, this covers a contact zone which demonstrates similar alteration that you see at the Winston Lake Mine. In Saskatchewan, for both properties, we've acquired hyperspectral data. Those results are extremely positive. It has identified several trends for uranium and rare earth elements. We're we're currently taking those results to supplement that historic information, which will help us refine exploration targets for later this year. So just focusing on Ontario. There's a map here just to demonstrate the the neurology of these projects that we have. So we've got our flagship Shriver Hempno project. That's just 60 kilometers west of regionally significant project held by Generation Mining and just 80 kilometers west of the the world famous Hemlo Mine, which has produced 23,000,000 ounces of gold.

7:28 Just to the north of this project area, we have our Winston Lake project. As I said, that surrounds this historic Woodson Lake mine, which is reportedly the highest zinc grade mine in North America. Over to the East, we've got the Toshiba Lake project. And then a bit further south, we've the Dog Lake project, which is in this Wawa Greenstone Belt with fairly close proximity to two multimillion gold deposits. Now if we just zero in in the Shriver Hemlo project, it's an extremely well endowed greenstone belt. We've got 38 known mineral occurrences. It is a significant land package that we've assembled here of around a 113 square kilometers.

8:13 This whole area has a history of small scale mining with no real property wide focus on making those discoveries. So those small scale mining operations have been focused at surface chasing visible gold. So what we we are doing is taking that step back, reviewing all the data, and with a view to make a discovery on this project. If we concentrate on the big bare area, this slide really demonstrates that small scale mining. So we've got an abundance of high grade gold at surface. We've got four target areas, I've highlighted here, which have exploration permits granted on them. So we can work on these projects as soon as soon as we can.

9:02 So at Little Bear Lake, we've got bulk sampling of one ton averaging quite impressive over 1,400 grams a ton gold. In the Schreiber area, we've got multiple high grade gold occurrences, fifty three seven grams a ton gold, 105 grams a ton gold. And then Big Duck, but limited explorations that happen, but we do know there's high priority airborne magnetic targets. And again, that southeast corner, we've got Hayes Lake. This overlies this interpretive structure, which is the contact zone between the green and the red area. And we know that historically, there's been some really, really high grade gold in that area, up to 230 grams ton gold. And we when we acquired this property, the high quality airborne survey covered the majority of this project.

9:55 We recently completed an airborne survey, which will completely cover the whole property. So the next steps for this property is a second phase of groundworks, which will focus on sampling, mapping, and ultimately lead to the final location or identification of dual targets for later this year. And we'll also be progressing other targets to dual stage ready. This slide here is in in reference to the, you know, the the news that we released a short while ago on the the the mapping and sampling program, which we undertaken in the Schweiber area. Now this area is where we're targeting drilling.

10:41 And, again, we find an abundance of high grade gold at surface. Best values were up to 45 grams a ton. What we was really important for this program is we mapped the important shear zones, which has that potential to make economical discoveries. And another really important part of this work is the initial structure observations between some of these showings, such as Kirkley, Parameter, In addition to the historical work performed by Panther METALS with the soil sampling, we believe that we've identified a potential regional scale shear zone which passes through this entire area on a single mineralized system. And this offers a much larger prospect.

11:38 We engaged Murphy Geological Services, which is an industry leader in satellite structural interpretation. From this study in the Big Bay Area, it identified 24 priority targets. When we integrate these results into the data that we that we already have, we found very good correlation to the area of magnetic data. And really importantly, it corroborated the work that we've done in Shriver. This high priority target b b 10 directly covers this area where we have an interpreted structure, where we have high grade golden rock samples. At the Jackfish Lake project area, FULCRUM conducted field exploration over a one square kilometer area, which is that South Central area.

12:31 And what we found there is a large area which is very well mineralized throughout High grade gold rock samples of up to nearly 40 grams ton gold and 1% copper, along with some anomalous pathfinder minerals such as molybdenum, barium, and tellurium. They're all indicators that there's a source of gold there somewhere. The structural survey identified 18 priority exploration targets, which I'll go through on the next slide. Now the next steps for this property is to follow-up on those targets. And in particular, the eastern part of this property is pretty much unexplored. So that's some real blue sky opportunity for us as a company.

13:19 So as you can see here, this is the structural sub study. And from this, it's identified a number of high priority targets on that eastern margin. So that's clearly a focus of the company going forward. What it has also done is corroborate the work that we've done in that JFL 17 high priority one target area, where we identified widespread mineralization with those high grade gold rock samples of up to 39.8 grams a ton. So it's extremely positive for the company.

13:53 For the other three projects that we have in Ontario, they all offer additional upside to the company. So the Winston Lake project, again, it it surrounds this Winston historic Winston Lake mine, which is highest grade zinc mine in North America. Got historical grub samples of over 1% copper, a solar anomaly of around two square kilometers, the peak value of 1,100 ppm. There's a number of untested geophysical anomalies. So the next steps there is to get out there, do some groundworks to follow-up on these historical showings. The Wawa project, known as Dog Lake. The northern area of that project is prospective for gold, and the southern area is prospective for nickel and copper. So this year, the next steps are to get out there and move this project forward.

14:45 The Daya Hezra project, the Toshiba Lake project, that's in a whole new emerging base metal district. You know, the Tyco project is moving at a fast rate of knots, making discoveries of nickel sulfides. We're right in the thick of it as we join just the east of that project. We're waiting for the airborne survey results to come back, and we'll follow that up with some great works, such as mapping and sampling. Now, if we focus on Saskatchewan, the nuclear market is being completely reinvigorated over the last one to two years, and that is as the world, and and world governments are moving towards this net zero carbon energy.

15:32 Nuclear offers a sustainable, low carbon base load of power. This has been recognized by a number of funds such as SPROC Asset Management, who launched a fund about eighteen months ago where they're buying uranium out of the market, which restricts the supply. And the lack of uranium exploration and new mine development, over over the last ten years or so, has has really added, in that mix to to really give uranium market a really a real good sense of opportunity for the company.

16:12 Now the FULCRUM have two uranium projects in the North Athabasca region of Saskatchewan. Saskatchewan is one of the world's leading sources of high grade uranium, and supplies around 20% of the world's uranium at the moment. Now we, from this map, you can see it's a it's a very active region. There's a number of significant companies that operate in this area, such as ninety two Energy, Pier Energy, Power Metals, ILX Resources. And we also have Ather Energy. They recently listed on the Canadian Stock Exchange, raised a significant amount money to go out to explore and develop projects. Now, if you focus on the Charlotte Nearly Lake projects, what we've got here is a number of uranium occurrences.

17:02 We've got rock chip rock chip samples of 6.2%, a number of grub samples around the point 4%, point 8% mark. But also, we've got this rather intriguing gold target. So we've been able to obtain some very old records, which highlighted a very, very interesting drill drill hole number 17. And from surface, this averaged just under four grams a ton over four nearly 46 meters with a peak intercept of 44 grams ton over nearly a meter. Now, what FULCRUM have done is we've, recently acquired hyperspectral data for this area.

17:47 Again, those results were very positive, which identified several trends for uranium and rare earth elements. So we're just supplementing that to the historical results to refine exploration targets. We'll be out there later this year.

18:03 For the Fontaine Lake project, Alaska actually performed some work in this project area in 2008 as part of the last uranium cycle. And now I've identified a very prospective radiometric target in the East Adelaide Lake area. Associated with this radiometric target, we've got some very good uranium samples of up to 1.28%. Rather intriguingly, it's it's been noted rare earth occurrences of point 7% niobium and point 1% tantalum. Again, we we've acquired the hyperspectral data for this area. We've got some very positive results from that, and we are just supplementing that with the historical results that we have. That's going to be used to refine exploration targets, which we will get out there and look at this year.

18:59 So FULCRUM's strategy in in simple terms, the funds were raised at the IPO. That's with a a real primary focus on going to the flagship tribe, the Hemo property, to go out there and make a discovery. We know we've got all the right ingredients. It hasn't been drilled, and we're going out there to make a discovery. As our kind of second workflow, we're going to establish the prospectivity and commercialize the wider portfolio of assets that we have through securing potential JV and acquisition interest. So at Tribe HEMO, what we've done so far, we've completed structural surveys. We've completed airborne survey work, and we're about to commence the groundworks in Scharborough area across the the the remainder of the portfolio.

19:51 We've completed the historical data review. We've completed the hyperspectral data analysis, and, we're just waiting for the results back on the airborne geophysical surveys at, Toshiri in Ontario. And phase two work will build on those results. So what's the investment case for FULCRUM? Well, we've got a very highly prospective portfolio of gold based metal uranium assets in a top mining jurisdiction, and they're all positioned nearby or close to mineral rich prospective areas and producing near producing assets. The portfolio affords us a multi commodity upside with very strong market backdrop.

20:41 We've got a very defined development strategy through seeking the discovery and commercializing our portfolio, which offers near and long term upside opportunity to investors. And importantly, let's make sure that we have strong news flow. We've got a very experienced board and management team focused on delivering that growth and building that value through exploration, making discoveries, and scaling those opportunities. From a corporate structure point of view, we got 49,900,000 shares in issue. The directors hold just over 30% of those shares in issue, which is very important to us because that ensures the directors are in full alignment with the shareholders so that we create value for the company, we create value for ourselves. And that's a very integral philosophy of the company.

21:44 As I've got, I have a a few more minutes, so I'm just going to just run through who's on the board of the company. I've obviously introduced myself. I'm the CEO and the the cofounder of the business. Edin O'Hara also cofounded the business with me. He's the corporate development director. He's a hugely experienced investor and entrepreneur, in the mineral sector. He's founded a number of companies, including a private mining company in West Africa, and got significant experience in business ownership and management. Our chairman, Clive Garston, he's got significant experience as corporate lawyer and board experience on small and medium credit companies. John Hamilton, the CFO, has an extensive history of SME and international companies.

22:35 Alan Mooney affords vast experience of twenty years in natural resources with private and public companies. Mitchell Smith is a highly experienced board member. He's part of several public and private resource companies, Canada and The UK, and he's a highly accomplished business individual. From a technical standpoint, we're backed up with, you know, huge experience and and high quality skills. So Edward Slowey, he's got more than forty years experience in mineral exploration, works in various parts of the world, Africa, Australia, Canada, and is hugely experienced in JV negotiation, exploration planning, feasibility studies.

23:21 And we have teamed up with Bayside GS Science in Ontario. Steven Flank is the president of Bayside. He's got over ten years of experience. And we've worked a very good relationship over the last few years to enable us to perform these exploration activities in Ontario. And we also have doctor Jim Jim Franklin, a special adviser. He's hugely experienced and specialized geochemist in Canada. He's hugely revered. He was inducted into the Canadian Mining Hall of Fame. And he's a very all three of them are very, very valuable assets to the company. So thank you for listening, and I'll just hand you back to Jake.

24:12 Thank you. Ryan, that's great. And thank you very much indeed for your presentation this morning. What I'll do, I may, is just bring back up your camera. Ladies and gentlemen, please do continue to submit your questions just by using the q and a tab that's situated on the top right hand corner of your screen. But just while the company take a few moments to review those questions that were submitted already, I would like to remind you that a recording of this presentation along with a copy of the slides and the published q and a can be accessed via your investor dashboard. Ryan, as you can see, we have received a number of questions throughout your presentation today. And thank you to all of those on the call for taking the time to submit their questions. Ryan, if we may just dive straight into these. The first question that we have here reads as follows. What are the main activities occurring over the next few months that investors should be aware of?

25:02 Yeah. Absolutely. So, you know, we we've released an RNS, so this is in public domain. We're going out to the Big Bear project area. We're going to conduct final geological mapping and and sampling to finalize the drill locations and orientations for later this year. So that's very exciting for us as a company. We know we've got all the ingredients to make the discovery. So we want to get out there drilling as soon as we can, and that's what this phase two grind works is designed to do. Following those grind works, we will be going through the whole of the portfolio conducting grind works. So there's a lot of news flow to come. And as we, move out across the portfolio, investors can expect, news releases in due course as we do that.

26:01 Perfect. Thank you very much for that, Ryan. The next question that we have here reads, how happy are you with the progress, the company has made since listing, and are things on schedule? We're extremely pleased with the progress we've made that we've made so far. The the the groundworks that we completed at Big Bear is a key milestone, really, in that project. We, you know, we we've identified regional scale shear zones, which has the potential to to hold economic ore deposits. That's a very significant progress milestone for the company and for the project.

26:42 We've also conducted structural surveys, hyperspectral data surveys, and these are all geared towards helping us with our groundworks in this sort of, fieldwork program. So we are in exactly the right place that we wanted to be, and we're extremely pleased, and we're really excited. Thank you very much for that. Perhaps turning on to the next question that we have here, which asks, which of the projects currently underway underway offers the greatest commercial upside, and do you have sufficient funding in place to deliver on your operational plans?

27:24 Yes. So the IPO funding will will is enough to cover all of the program programmed activities, which I've discussed as part of this presentation. So we we absolutely are are funded to to do those exploration activities. And, you know, we you know, we're excited about the Sriba Hemliar project. I think from a commercial aspect, you know, you want to be out there drilling. That's how you make discoveries.

27:58 So that's our first and foremost. But, you know, the the rest of our portfolio really offers investors and the company an opportunity to realize value from those early stage exploration projects. And that would be, you know, on the signing of a JV agreement or a disposal. That's really gonna help limit dilution going forward, and that's a key part of our business model. Thank you very much for that. And perhaps just turning on, to the last question that we have here, which reads, first class metals nearby are getting excited about lithium in the area. Are there any indications of lithium in the sites owned by FULCRUM?

28:45 Not currently. I mean, these projects, you know, for example, the Big Bear property, you know, that's probably not been explored for gold. We know that there's base metal potential on that property. No one's looked at lithium. You know, if you're if you're going to perform exploration activities on a property, you need to go out there focused on lithium. No one's done that across these properties. We don't intend to at at the moment. I I think that, really, you've you've gotta focus on really where those properties are going. So currently, no. Not lithium.

29:27 Thank you very much for that. And that actually concludes all the questions that we have that have come in this morning. So thank you very much to all of those on the call for taking the time for submitting their questions. And, Ryan, thank you very much for those responses. And, of course, if there are any further questions that do come through, we'll make these available to you immediately after the presentation has ended just for you to review and to then add any additional responses, of course, where it's appropriate to do so. And we'll publish all those responses out on the investor meet company platform. But, Ryan, perhaps before redirecting those on the call to provide you with their feedback, which I know is particularly important to yourself and the company, if I could please just ask you for a few closing comments to wrap up with, that'd be great. Absolutely. So FULCRUM are positioned to go out and make discoveries and move the the rest of the portfolio towards making those discoveries.

30:20 We've got a very flexible portfolio. We've got multi commodities. So what that really offers the company is flexibility in not just commodities, but also project area focuses. So, you know, we've got gold, uranium, rare earth potential. I think that those basket of commodities, the basket of port for projects that we have, I think it's a very, very good base which offers a lot of upside. We only need to make one discovery here. Let's not forget that. And I think we're really well positioned to do that. Perfect, Ryan. That's great. And thank you very much indeed for updating investors this morning. Could I please ask investors not to close this session as you'll now be automatically redirected for the opportunity to provide your feedback in order that the management team can better understand your views and expectations.

31:15 This won't take a few moments to complete, but I'm sure will be greatly valued by the company. On behalf of the management team of FULCRUM METALS PLC, we would like to thank you for attending today's presentation. That now concludes today's session. So good afternoon to you all.