Pilot Plant Deployment Agreement Signed

Fulcrum Metals plc (AIM: FMET), a company pioneering the use of innovative cyanide-free technologies developed by Extrakt Process Solutions to recover precious and critical metals from mine waste and support site regeneration, is pleased to announce that its wholly owned subsidiary, Fulcrum EnviroTech Corp. ("Fulcrum EnviroTech"), has signed a contract with Test Design Implement Solutions LLC ("TDI") for the deployment and operation of a standalone pilot plant in Ontario, Canada (the "Pilot Plant").

The Pilot Plant will utilise the cyanide-free leach technology developed by Extrakt Process Solutions ("Extrakt") to process material from Fulcrum's Teck-Hughes project, while also providing the capability to evaluate additional third-party mine waste materials. The programme is supported by Bechtel Energy Technologies & Solutions, Inc. ("Bechtel"), which has a long-term alliance agreement with Extrakt.

Importantly, Fulcrum's relationship with Extrakt extends beyond the Teck-Hughes and Sylvanite projects. Fulcrum holds exclusive rights to deploy Extrakt's proven cyanide-free technology across legacy gold mine waste sites within the Timmins and Kirkland Lake mining districts of Ontario. These two world-class gold camps have collectively produced more than 110 million ounces of gold over the past century and are estimated to contain more than 70 documented legacy mine waste sites, providing a significant pipeline of potential future reclamation and metal recovery opportunities.

Highlights

• Pilot Plant to support the Teck-Hughes project towards commercialisation.
• Scalable platform designed to evaluate additional mine waste opportunities across Fulcrum's portfolio and future potential projects.
• 2.4 tonnes per day processing capacity using Extrakt's proprietary cyanide-free technology.
• Capital-light structure to access both specialist technology and operating expertise without significant infrastructure ownership requirements.
• Programme designed to generate the operational, metallurgical and engineering data required to support future commercial development.
• Strong ESG proposition provides both cyanide-free metal recovery and environmental remediation of historic mine waste.

As announced on 11 February 2026, the Company previously commissioned TDI to undertake a Pilot Plant Scoping Study, with the support of Extrakt and Bechtel to identify the best way to advance from successful laboratory scale tests to a pilot-scale operation.

Ryan Mee, CEO of Fulcrum, commenting on the announcement:

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Ryan Mee, Chief Executive Officer of Fulcrum Metals plc, commented: "This is a significant milestone for Fulcrum which creates a pathway to commercialising Teck-Hughes while establishing a platform that is able to support future mine waste recovery opportunities.

"Fulcrum is excited to be working with TDI, Extrakt and Bechtel on this next phase of the project, which represents an important step towards unlocking significant value from historic mine waste assets through a scalable and capital-efficient business model. The pilot processing programme is designed to generate the data required to support commercial deployment and establish the blueprint for broader deployment.

"Shareholders will be updated as key milestones are achieved and the pilot programme progresses."

William Florman, President of Extrakt/TDI, commented:"We are pleased to take this next step with Fulcrum to advance their projects in Canada. Laboratory testing to date has been promising, and we look forward to progressing to pilot-scale operations under representative operating conditions.

"The pilot platform has been scoped and designed to help bridge the gap between laboratory testing and commercial deployment by generating specific data on leach performance and on other key aspects of the flow sheet. The limited pilot scope and design can be expanded in the future to include additional aspects of the flow sheet. This data will help guide the final commercial design.

"We believe the combination of Fulcrum's mine waste assets and our cyanide-free technology has the potential to support a scalable recovery platform, and we look forward to advancing the program together."

Building a Scalable Mine Waste Recovery and Remediation Platform

The Pilot Plant will initially process material from the Teck-Hughes project while providing the capability to evaluate additional mine waste opportunities across Fulcrum's portfolio and beyond.

The pilot processing platform represents a significant milestone in Fulcrum's strategy to build a scalable mine waste recovery and remediation business. Historic mine waste represents a substantial and largely underdeveloped opportunity, with modern recovery technologies creating new pathways to unlock value from legacy mining assets while supporting environmental remediation.

The Teck-Hughes pilot programme is designed to generate the data required to support future commercial development while establishing a blueprint for expansion. The platform has the potential to underpin a repeatable recovery model to support future expansion across additional projects and strategic partnerships.

Capital-Light Commercial Structure

The Pilot Plant is being deployed under a contract between Fulcrum EnviroTech and TDI. Under the contract, TDI will supply, install, commission and operate the pilot facility while retaining ownership of the equipment. Extrakt will provide non-commercial licensing of its cyanide-free technologies, supported by Bechtel. Fulcrum's responsibilities relate primarily to site provision, programme execution and operations. A number of potential site locations have been identified and are under consideration.

This structure provides Fulcrum with access to specialist technology and operating expertise without significant capital equipment costs. The contract with TDI also includes ongoing equipment lease provisions providing the ability for Fulcrum to continue using the platform after the initial programme, to support testing and evaluation of future opportunities.

The Board of Fulcrum believes this approach reduces development risk, preserves shareholder capital and provides a capital-efficient pathway towards future commercial deployment.

Advancing Teck-Hughes Towards Commercialisation

The pilot programme will employ Extrakt's proprietary cyanide-free leaching technology and integrated reagent management system to validate process performance, optimise operating parameters and generate the data required to support future commercial development.

Designed to process up to 2.4 tonnes of material per day, the Pilot Plant will provide a representative demonstration of a potential commercial-scale recovery process. Initial operating campaigns are expected to comprise approximately 12 pilot batches over a four-week period using material from Fulcrum's Teck-Hughes project.

The programme is intended to bridge the gap between laboratory testing and commercial implementation by generating the operational, metallurgical and engineering data required to evaluate future development pathways.

Outlook

This contract with TDI marks the transition of Fulcrum's mine waste recovery strategy from laboratory validation to pilot-scale implementation.

Over the coming months, Fulcrum will work with its partners to prepare for deployment of the pilot processing platform, advance implementation activities and to select a site from several locations currently under consideration. Beyond Teck-Hughes, the Board believes the platform has the potential to become a strategic asset to evaluate and advance additional mine waste opportunities.

The Board believes this strategy represents an important step towards building a scalable mine waste recovery business capable of supporting future partnerships acquisitions, toll-processing opportunities, and the broader commercialization of mine waste recovery across some of North America's most prospective legacy mining jurisdictions creating long-term shareholder value.

About Extrakt

Extrakt Process Solutions is a technology company that is focused on separation technologies for recovering precious mineral recovery, hydrocarbon separation as well as dewatering of mine waste and other related processes without the use of cyanide. The company has a global patent portfolio and continues to develop new processes and technologies.

See www.extraktps.com

Extrakt Process Solutions, LLC (Extrakt) and Bechtel Energy Technologies & Solutions, Inc. (BETS) have formed a strategic global technology alliance, to commercialize Extrakt's novel, leaching technology and solid-liquid separation technology, known as TNS™. TNS addresses the difficult challenges of mine tailings, dewatering, and product recovery in a sustainable, effective manner. Click here to read about the strategic alliance press release.

See: https://www.bechtel.com/

About TDI

TDI is a laboratory and engineering services company that provides testing, piloting and other services to the mining industry. TDI Solutions LLC ("TDI") is authorised and equipped to provide lab testing and piloting services to support the commercialisation of Extrakt Process Solutions' suite of technologies

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