Panther Metals PLC has entered into an option agreement to acquire a 100% interest in the Syvanite Gold Tailings Project which is strategically located 3km from their existing Tech-Hughes Gold Tailings Project, in Ontario, Canada. The option agreement offers the potential to substantially increase Fulcrum's footprint within the Kirkland Lake gold camp. Panther currently holds a total of 9,971,839 ordinary shares in Fulcrum representing a 19.99% interest in the entire issued share capital of Fulcrum, plus 714,286 warrants exercisable at 17.5p with a two-year life from 14 February 2023 and a further 476,190 warrants exercisable at 26.25p with a three-year life.

Panther also retains a 2% net smelter return ("NSR") royalty over the Big Bear Project. Fulcrum Announcement Highlights: Fulcrum signed option to acquire 100% of the Sylvanite Gold Tailings Project, at the ex-producing Sylvanite mine.  Sylvanite was the gold producing mine in the Kirkland Lake gold camp having milled4.58 million tonnes of ore and produced 1.67 million ounces between 1927 and 1961. Non-compliant historical tailings resource estimate of up to 67,051 ounces of gold in tailings cannot be currently classified in accordance with NI 43-101.

Based on recovery test work undertaken in 2008 it was suggested that a combination of gravity, grinding and flotation techniques might be able to boost the recovery of gold from tailings to 70%. Larger scale pilot plant tests were performed in 2010 and 2012 using up to 850kg of sample material which recovered approximately 65-72% of gold to a rougher concentrate. Based on these results, the October 2012 continuous pilot plant campaign (undertaken by Advanced Reclaim Inc) was considered successful with the primary objectives of: demonstrating a viable and scalable non-chemical mineral processing approach to recovering a saleable gold concentrate; and leaving reprocessed tailings with properties suitable for use as a subsoil when restoring vegetation cover on the former tailings area.

Sylvanite is less than 3km from the Teck Hughes gold tailings project which represents an opportunity for Fulcrum to optimise resources and leverage synergies across both projects. Sylvanite and Teck-Hughes provide Fulcrum with the potential to become cash generative using the Extrakt Process Solution tailings technology.