First Class Metals begins North Hemlo drilling after CLN funding

First Class Metals PLC (FCM) announced drilling at its North Hemlo property in Ontario, Canada.

• The recently announced convertible loan note (CLN) funding allowed FCM to commit to drilling, and FCM signed a contract with Rugged Aviation Inc, a diamond drilling company.
• The contract covers a minimum of 700m of NQ diameter drilling; FCM anticipates exceeding this minimum as drilling progresses along the Dead Otter trend.
• The drill rig arrived on site on 16 November 2025; the company said coring was commencing immediately and anticipated that drilling would produce core imminently.
• Initial holes target the 19.6g/t Au sample site and areas of highly deformed rocks mapped by Prof. Mary Louise Hill.
• The company identifies the Dead Otter trend as the priority, including the '19 grammer' area and 'Dead Otter Showing'; at least two other locations, including the historic Dead Otter trench, will be targeted.
• Emerald Geological Services is overseeing core handling, transfer to the secure Manitouwadge facility, logging, photographing, sampling, and shipment to Act Labs, Thunder Bay.

The company expects the VLF interpretation to provide exploration targets for next season’s field work, but says processing is taking longer than expected. Assay turnaround times are difficult to estimate accurately because of regional seasonal volume and the Christmas/New Year period.