Exploration Agreement signed with First Nation

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

FIRST CLASS METALS PLC

27^th November 2023

Exploration Agreement signed with Netmizaaggamig Nishnaabeg First Nation

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 Schreiber-Hemlo, Sunbeam and Zigzag land holdings is pleased to announce the signing of an Exploration Agreement ('EA') with the Netmizaaggamig Nishnaabeg First Nation ("NNFN" or "the Community") covering the North Hemlo, Esa & Sugar Cube Properties.

Highlights

·    Under the signed Exploration Agreement, the Company will continue to conduct mineral exploration with the support of the Community. The agreement promotes unity and a mutually beneficial and respectful relationship between First Class Metals and the Netmizaaggamig Nishnaabeg First Nation. 

·    The EA allows for the exploration of the North Hemlo, Esa & Sugar Cube Properties which are located within the Traditional Territories of the Netmizaaggamig Nishnaabeg First Nation.

·    The Exploration Agreement recognizes and respects the Aboriginal and Treaty rights and interests of the Community with their constitutional and other legal rights.

·   The Exploration Agreement is in line with the First Class Metals' commitment to build sincere relationships with First Nation Communities. We have an active interest and respect for all people, and we understand the social, environmental, and economic implications of our activities.

Netmizaaggamig Nishnaabeg First Nation Commented-

"NNFN has a long history of productive engagement with the mining industry and supports mining activity in areas that are mutually beneficial to the First Nation and to its industry partners.  We commend the importance First Class Metals places on engagement with our community, and  its commitment to protect our lands and waters. FCM's pro-active engagement with NNFN is a model for other companies seeking to work in our territory."

Marc J Sale, First Class Metals CEO Commented-

"I am extremely pleased that the efforts to establish a transparent honest relationship with Netmizaaggamig Nishnaabeg First Nation and their representatives has culminated in the signing of this agreement and I look forward to working with the Community as we progress First Class's exploration areas. Now this EA has been granted  we intend to imminently start a stripping program on the Esa Property, with the intention of bringing it to a true 'drill ready status"

For further information, please contact:

First Equity Limited

(Financial Adviser & Broker)

First Class Metals PLC - Background

First Class Metals is focussed on exploration in Ontario, Canada which has a robust and thriving junior mineral exploration sector. Specifically, the Hemlo 'camp' is a proven world class address for gold /VMS exploration. This geological terrane has significant production, both base / precious metals and a prolific number of exploration projects and numerous prospector's 'showings'.

FCM currently holds 100% ownership of seven claim blocks covering over 180km² along a 150km strike of the Hemlo-Schreiber-Dayohessarah greenstone belt which also contains the >23M oz shear hosted Hemlo gold mine operated by Barrick Gold. Late last year FCM completed the option to purchase the historical high grade (gold) Sunbeam past producing mine

The significant potential of the properties for precious, base and battery metals relate to: 'nearology' insomuch that all properties lie close to identified mineral anomalism, for example Palladium One's RJ and Smoke Lake nickel projects are close to the FCM's West Pickle Lake drill proven Ni-Cu project. This also demonstrates the second critical asset the properties hold: vector, anomalies, be they geological, geochemical, or geophysical that have demonstrated mineral potential extend on to FCM's properties.

The inferred shear on the Esa property is being explored by neighbours both to the west and east where it crosses into their properties. Furthermore, the properties have not been extensively explored either historically or more contemporaneously. This is attributable to the overall lack of outcrop. However, modern exploration techniques are better able to 'see through' the ground cover and to identify anomalies.

Forward Looking Statements

Certain statements in this announcement may contain forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.