Fulcrum Metals PLC - Updated Tully Gold Resource

 8 July 2026

Fulcrum Metals plc

(“Fulcrum” or the “Company” or the “Group”)

Updated Tully Gold Resource activates Additional Consideration for Fulcrum

Fulcrum Metals plc (AIM:FMET), a company pioneering the use of innovative cyanide-free technologies to recover precious and critical metals from mine waste and support site regeneration, is pleased to note the updated Mineral Resource Estimate (“MRE”) announced by Loyalist Exploration Limited (CSE:PNGC) (“Loyalist”) for the Tully Gold Project in Timmins, Ontario, Canada.

The updated MRE exceeds the 200,000 ounce gold resource threshold associated with additional contractual consideration payable to Fulcrum under the terms of the agreement entered into on 2 October 2025 between the Company and Loyalist (the “Purchase Agreement”), subject to the filing of the associated technical report in accordance with the Purchase Agreement.

Highlights

·  Loyalist has announced an updated NI 43-101 MRE for the Tully Gold Project containing approximately 265,000 ounces of gold, which occupies only 15% of the known Mafic Tuff host unit.

·   The updated MRE exceeds the 200,000-ounce contractual resource threshold under the Purchase Agreement entered into between Fulcrum and Loyalist on 2 October 2025.

· Under the Purchase Agreement, 15,000,000 additional Loyalist shares, or cash in lieu thereof, are due to Fulcrum within 60 days following the filing of a technical report in respect of the Tully Gold Project in which a gold resource is re-evaluated or restated to NI 43-101 standard exceeding 200,000 ounces.

·  Based on Loyalist’s current prevailing market price of 3.5 cents, the milestone consideration represents a potential additional value in excess of CAD$500,000 to Fulcrum, subject to settlement in shares.

·  Fulcrum retains further exposure to the future success of the Tully Gold Project through additional milestone consideration linked to project advancement and a 2% net smelter return royalty (“NSR”).

Ryan Mee, Chief Executive Officer of Fulcrum, commented:

“The updated Tully resource is a positive outcome for both Loyalist and Fulcrum and represents an important advancement of the project.

“The resource has exceeded the 200,000-ounce threshold linked to additional consideration under our transaction with Loyalist, demonstrating the value of the structure we put in place. Subject to the filing of the associated Technical Report and settlement in accordance with the Purchase Agreement, this milestone has the potential to deliver over CAD$500,000 of additional value to Fulcrum at Loyalist’s current prevailing market price, without Fulcrum being required to commit further capital to advance the project.

“This is a good example of our strategy to retain meaningful exposure to the upside of assets while focusing our capital and management resources on executing our core mine waste recovery strategy in Kirkland Lake and Timmins. We look forward to following Loyalist’s continued advancement of the Tully Gold Project.”

https://fulcrummetals.com/link/PB2KKP