First Class Metals PLC (“First Class Metals”, “FCM” or the “Company”) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to announce the mobilisation of a drill rig and the commencement of drilling on the North Hemlo property.

Highlights 

·    Following the recently announced convertible loan note (“CLN”), FCM has committed to drilling at North Hemlo

·    Drill rig mobilised to the North Hemlo property with drilling now underway.

·    Contracted minimum of 700m of NQ diamond core drilling.

·    Drilling anticipated to produce core imminently.

·    Priority target is the Dead otter trend, with the initial drilling being undertaken in the ’19 grammer’ area.

·    At least two other locations, including the historic Dead Otter trench, will be targeted.

·    Interpretation of the very low frequency (“VLF”) survey on the Dead Otter trend and wider surveyed areas underway.

Marc J. Sale CEO First Class Metals Commented: “The initiation of drilling on the Dead Otter trend as a result of securing funding is not only an exciting exploration stage for FCM and an enhancement of the potential of the North Hemlo block, but it is a significant event in the development of FCM as an exploration company. I anticipate that the VLF survey will add significant exploration upside to not only the Dead Otter trend but the whole property block including the OnGold claims” 

Figure 1 showing the Dead otter trend with VLF grids and significant grab samples

Drilling Programme Details

The securing of the recent CLN funding has allowed FCM to commit to drilling and accordingly it has signed a contract with Rugged Aviation Inc (‘Rugged’), a highly experienced diamond drilling company with years of experience drilling the archaean rocks of northwest Ontario. Rugged has drilled substantial metreage within the Hemlo camp and is well placed to support FCM’s technical objectives.

·    The contract is for a minimum of 700m of NQ diameter drilling.

·    FCM anticipates exceeding this minimum drill requirement as drilling progresses along the Dead Otter trend, including:

o The ’19 grammer’ (19.6g/t Au) high grade sample site.

o The ‘Dead Otter Showing’

o Up to two additional targets along strike.

The drill rig arrived on site on 16 November 2025 and coring is commencing immediately.

Initial holes will target both the location of the 19.6 g/t sample and areas of highly deformed (“messed up”) rocks mapped by Prof. Mary Louise Hill, Professor Emerita, Lakehead University. 

Figure 2 showing the track mounted Rugged Aviation drill rig onsite at the ’19 grammer’

Site Operations and Sample Handling

Emerald Geological Services are overseeing the on-site activities, including:

·    Core handling and transfer to the secure Manitouwadge facility.

·    Logging, photographing, and sample mark-up.

·    Core cutting and sampling.

·    Bagging, tagging and shipment to Act Labs, Thunder Bay for gold, silver, and base metal assays

Given the seasonal volume of samples being processed across the region, combined with the Christmas/New Year period, assay turnaround times are difficult to estimate accurately at this stage.

Figure 3 showing the drilling machinery at work.

VLF Survey Interpretation

The initial review of the VLF survey data has indicated encouraging trends on all grids surveyed. The data is still with the company for final processing and interpretation, whilst this process is taking longer than expected FCM believes it will provide significant exploration targets for next season’s field work not only along the Dead Otter trend but property wide, including the extension of Dotted Lake and the OnGold claims.

Investor Hub – Onsite Video

A video update from Marc Sale, CEO, filmed on site as drilling operations commenced, is now available on the FCM InvestorHub https://firstclassmetalsplc.com/link/y1B8le 

ENDS

Qualified Person

The technical disclosures contained in this announcement have been drafted in line with the Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30 years in the gold exploration industry and is considered a Qualified person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.

 

For further information, please contact:

James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641

Marc J Sale, CEO and Executive Director
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532

AlbR Capital Limited (Financial Adviser)
David Coffman
Website: www.albrcapital.com
Tel: (0)20 7399 9400

Axis Capital Markets (Broker)
Lewis Jones
Website: Axcap247.com
Tel: (0)203 026 0449