First Class Metals (LON:FCM) Ontario Junior Exploration Program (OJEP)-Grant Receipt

First Class Metals PLC (“First Class Metals” “FCM” or the “Company”) the UK metals exploration company seeking large scale metal discoveries across its extensive Canadian land holding is pleased to announce that it has received payment in full of the 2022/3 Ontario Junior Exploration Grant ‘OJEP’ for work carried out on the flagship North Hemlo property.

Highlights

· Final payment of CAD$140,000 of the maximum CAD$200,000 OJEP Grant received in lieu of the successful completion of the 2022 work program on the North Hemlo property.

· First UK listed company to have a successful completed application from the Ontario- Ministry of Northern Development, Mines, Natural Resources and Forestry

· The OJEP Grant assisted with costs relating to exploration expenditure incurred from the high definition low-level magnetic survey and field work across the property. This work was pivotal in the exploration success we had through the period, which included the discovery of the ‘Dead Otter Lake Trend’ reporting grab samples of up to 19.6 g/t gold (Au) over a +3km long strike.

https://polaris.brighterir.com/public/first_class_metals/news/rns/story/rnkq30r

· First Class have applied for funding from the 2023/4 OJEP intake for use on the Sunbeam gold project and we await feedback from the Ministry of Northern Development on this application.

Marc Sale CEO Commented: “ On behalf of FCM I would like to thank the Ministry of Northern Development for the approval and receipt of the full $200,000 relating to the 2022/3 OJEP Program. Following this success, FCM have applied for the 2023/4 intake of OJEP with a focus on funding the work programme at Sunbeam. A detailed historical review of all the data pertaining to the Sunbeam property is in its final stages: and we eagerly await the conclusions which will help define our exploration programme in the coming season.  On the wider company picture we have confidence that our projects in Ontario will be further advanced, building in 2023 on what was a very successful maiden field season”.

About OJEP: OJEP helps junior mining companies finance early stage exploration projects in Ontario. These projects help boost mineral exploration, growth, and job creation for northern and indigenous communities in the province. The 2022 OJEP fund totalled CAD$5m with a maximum allocation of $200,000 per applicant.

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