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Fulcrum Metals plc / AIM: FMET / OTCQB: FULMF / Sector: Mining

5 October 2026

Fulcrum Metals plc

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

Pilot site and Extrakt Pilot Technology Agreement Secured

Funded multi-project pilot moves into delivery: gateway to proposed US$20 million non-dilutive project financing

Fulcrum Metals plc (AIM: FMET; OTCQB: FULMF), which is developing a scalable platform to recover precious and critical metals from mine waste using Extrakt’s cyanide-free technology, is pleased to announce that it has secured the site for its standalone, multi-project pilot facility in Mississauga, Ontario, and signed a Pilot Scale Demonstration Agreement (the “Demonstration Agreement”) with Extrakt Process Solutions LLC (“Extrakt”) and Test Design Implement Solutions LLC (“TDI”).

Together, these major milestones secure the site, technology and delivery framework for Fulcrum’s funded pilot facility and initial Teck-Hughes programme. Successful pilot testing at Teck-Hughes is a key condition of the proposed US$20 million gold royalty financing with Chancery Royalty Ltd. (“Chancery Royalty”), providing a potential non-dilutive pathway towards commercial development.

Highlights

·        Funded pilot moves into delivery: site, technology and operating framework secured for the initial Teck-Hughes programme

·      Gateway to proposed US$20 million financing: successful Teck-Hughes pilot testing is a key condition of Chancery Royalty’s proposed non-dilutive financing

·      Pilot site secured: 12,526 square feet facility provides space and flexibility to modify and expand operations; initial six-year lease with commissioning targeted by end of Q4 2026

·        Extrakt technology enabled: signed agreement allows TDI to deploy and operate Extrakt’s proprietary cyanide-free technology at Fulcrum’s facility

·     Multi-project development accelerator moves Extrakt technology-led projects from laboratory testing to commercial development decisions without project-specific pilot builds

·        Platform for scale: Teck-Hughes and Sylvanite are the initial projects; Fulcrum’s exclusive Extrakt deployment areas encompass more than 70 documented tailings sites², with partner-led opportunities providing an additional route to scale

 Ryan Mee, Chief Executive Officer of Fulcrum, commented:

“Securing the site and signing the Pilot Scale Demonstration Agreement are major execution milestones that move our funded pilot facility and initial Teck-Hughes programme into physical delivery. Fit-out and commissioning remain targeted by end of Q4 2026, while the scale of the premises provides the flexibility to modify and expand the pilot capability as the project pipeline develops.

“Successful Teck-Hughes validation is a key condition of the proposed US$20 million Chancery non-dilutive financing. It is also designed to generate the operating, engineering and economic evidence needed to support commercial development.

“This is not a one-project pilot. It is a multi-project development accelerator that moves projects using Extrakt’s technology from laboratory testing towards commercial development decisions without building a separate pilot facility for each project. Teck-Hughes and Sylvanite are the first projects; our exclusive rights and partner-led opportunities provide the pathway to scale.”