First Class Metals #FCM – Ontario Junior 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 a  $200,000 CAD from the Ontario Junior Exploration Programme (“OJEP”) (the “Grant”)for work completed on the Zigzag lithium and critical metals Property in NW Ontario.

Highlights

·    Maximum CAD$200,000 OJEP Grant approved for work completed on the Zigzag lithium & critical metals property, covering up to a maximum of 50% of the exploration expenditures from 1 April 2023, to 15 February 2024, subject to an approved report submitted to OJEP.

·    Through OJEP, the Ontario Government is investing in early exploration to create meaningful opportunities for junior companies to find the mines of the future. 

·    First Class have been successful in receiving the full OJEP Grant in consecutive years and we are most grateful of this non-dilutive funding.

·    FCM is the only UK company to have received the Grant.

Marc Sale CEO Commented: “I would like to thank the Ministry of Northern Development for the approval of the maximum amount which can be awarded of $200,000 relating to the OJEP. The work completed in 2023 on Zigzag was pivotal in advancing the property to its current stage, culminating in a successful drill programme. Furthermore, the work under the Grant last year identified a significant new discovery on our North Hemlo property. I personally see this award as a firm inditement of the successful exploration team formed by Emerald Geological Services  and FCM. As the work has been conducted and the monies expended FCM is not restricted in the use of this Grant money going forward”. 

About OJEP: Ontario Junior Exploration Programme ‘OJEP’ helps junior mining companies finance early stage exploration projects in Ontario. Incentivizing early exploration will help our province remain globally competitive, find new deposits of critical minerals, and create new economic development and job creation for northern and Indigenous communities. The 2023 OJEP intake four, totalled CAD $5m with a maximum allocation of $200,000 per applicant.

Ends

For further information, please contact: 

Novum Securities Limited (Financial Adviser)