MOU with Valereum to Explore Tokenised Funding

First Class Metals PLC ("First Class Metals" or the "Company"), the UK-listed exploration company focused on the discovery of economic metal deposits across its strategic footprint in Ontario, Canada, is pleased to announce that it has entered into a non-binding Memorandum of Understanding ("MOU") with Valereum Plc ("Valereum"), a market-leading digital asset infrastructure group listed on the Aquis Stock Exchange (AQSE: VLRM).

The MOU sets out a framework for both parties to evaluate the potential for applying regulated tokenisation to fund mineral exploration and development projects within First Class Metals' asset portfolio.

Pioneering a Modern Approach to Project-Level Funding

This strategic collaboration combines First Class Metals' exploration expertise and project pipeline with Valereum's innovative, regulated digital asset infrastructure to evaluate the development of a tokenised investment model for mineral exploration projects.

The initiative aims to create a digital pathway for project-level funding that:

• Enables project-level funding through SPV participation, preserving shareholder value on a non-dilutive basis for the Company's shareholders.
• Facilitating market access to global investors with direct participation into high-potential mineral resource projects.
• Utilises existing regulated legal structures to issue fully compliant tokens with KYC/AML fulfilment.
• Supports ESG-aligned, responsible investment structures.
• Aligns with global investment trends, including the rapid expansion of the Real-World Asset ("RWA") tokenisation market, forecast to exceed US$16 trillion by 2030[1].

The parties believe this represents the first serious attempt by a UK-listed resource company to apply regulated tokenisation to the mineral exploration sector - a development that could fundamentally transform how early-stage mineral exploration projects are financed and advanced.

Specific project selection remains under review, with further announcements to follow once assets are formally identified. It is emphasised that the MOU is non-binding and exploratory in nature, and there is no certainty that any transaction, investment, or tokenisation event will ultimately occur.

By exploring the application of regulated tokenisation to mineral projects, First Class Metals and Valereum are evaluating how such models could enhance investor access, support non-dilutive capital formation, and align with the increasing emphasis on ESG-aligned financing in the resource sector.

It is emphasised that the Company remains committed to its fundamental identity as a mineral resource exploration company.

James Knowles, Chairman of First Class Metals, commented:

"This collaboration represents a bold, forward-thinking approach to unlocking the value of our highly prospective portfolio while preserving shareholder value at the PLC level. By partnering with Valereum, a recognised innovator in regulated digital assets, we are positioning First Class Metals at the forefront of responsible, modern exploration finance. This has the potential to reshape how mineral projects like ours are funded, developed, and ultimately delivered."

Pete Sekhon, Valereum Business Development commented:

"I have known James for a number of years, and when this opportunity presented itself, it made so much sense on many levels. We are excited about exploring what can be done together. This collaboration represents a pivotal moment in the evolution of both mining and blockchain. Bringing together Valereum's expertise in digital assets with FCM's high-quality exploration portfolio in Canada opens the door to a new era of capital markets access for mining. Tokenisation offers a route to unlock the value of in-ground resources in a regulated and accessible way."

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The property features Li-Ta-bearing pegmatites in the same belt as Green Technology Metals' Seymour Lake Project, which contains a Mineral Resource estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was successfully drilled prior to Christmas 2023 and results have now been released.

The Kerrs Gold property, acquired under option by First Class Metals in April 2024, is located in northeastern Ontario within the Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions. The project holds a historical inferred resource of approximately 386,000 ounces of gold, underscoring its potential as a meaningful addition to FCM's expanding gold portfolio. Kerrs Gold complements the Company's exploration strategy and provides exposure to a well-established mining district. FCM is currently reviewing plans to advance the project and further unlock its value.