#FCM First Class Metals – ONTARIO JNR. EXPLORATION PROGRAMME-GRANT APPROVAL

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian, focused in north west Ontario land holdings, is delighted to announce that it has been approved to participate in  the Ontario Junior Exploration Program (“OJEP”) for work to be completed on the Dead Otter Trend-North Hemlo.  OJEP is supporting junior mining companies by investing $13 million in 2024-2025 including $4 million for a critical minerals funding stream.

Highlights

·    OJEP will fund up to 50% of eligible expenses incurred on the North Hemlo property from 1 April 2024, to 15 February 2025,   This is expected to result in OJEP providing up to CAD200,000 of funds.

·    Funding is conditional upon confirming OJEP’s eligibility requirements are met, execution of a funding agreement and adherence to OJEP’s terms and conditions.

·    The Ontario Government is actively investing in early exploration through OJEP, creating valuable opportunities for junior companies to identify future mining prospects.

·    First Class Metals has successfully secured the full OJEP Grant for three consecutive years, demonstrating the exploration success we have achieved across the North Hemlo and Zigzag properties.  

·    Non-dilutive funding that bolsters our exploration initiatives.

Marc Sale CEO Commented:

“I want to extend my thanks to the Ontario Ministry of Northern Development for granting us the maximum award of up to $200,000. This marks our second OJEP grant for North Hemlo and the third grant received by FCM overall. The initial grant in 2022 played a crucial role in advancing our appreciation of the North Hemlo block’s potential through geophysics and our initial geochemical sampling efforts from rock grabs defining the Dead Otter Trend. We are excited to utilize these funds to further our exploration on the Dead Otter Trend, paving the way for a future drill campaign”

About OJEP: Ontario Junior Exploration Programme ‘OJEP’ helps junior mining companies finance early stage exploration projects in Ontario. Incentivizing early exploration will help the province remain globally competitive, find new deposits of critical minerals, and create new economic development and job creation for northern and Indigenous communities. The 2024 OJEP intake five, totalled CAD $13m with a maximum allocation of $200,000 per applicant.

“Our government recognizes that the success of Ontario’s mining sector starts with the important work that junior mining companies do during early exploration. Through this program, our government is investing in early exploration to create meaningful opportunities for junior companies to find the mines of the future. Incentivizing early exploration will help our province remain globally competitive, find new deposits of critical minerals, and create new economic development and job opportunities for northern and Indigenous communities.”-The Honourable George Pirie-Minister of Mines Ontario

Ends

For Further Information:

Engage with us by asking questions, watching video summaries, and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here:

www.firstclassmetalsplc.com

For further information, please contact:

Novum Securities Limited (Financial Adviser)

Axis Capital Markets (Broker)