Fulcrum Metals (AIM:FMET) has agreed to acquire five surface rights totalling 270 acres at the Teck Hughes tailings project for CAD$220,000 cash and a granted 1.5% net smelter royalty, securing land access for its cyanide‑free tailings recovery and remediation programme.
The AIM‑listed technology‑led natural resources company said the rights provide long‑term access and operational certainty to support exploration, environmental studies and infrastructure planning.
The agreements with North American Land Holdings and White Cliff Holdings include the CAD$220,000 cash consideration and a 1.5% NSR that Fulcrum may buy down to 0.75% for total payments of CAD$750,000 and to 0.5% with a further CAD$500,000, while the vendors retain an option to re‑purchase the surface rights for CAD$110,000 that self‑extinguishes if Fulcrum provides CAD$320,000 via NSR payments, buy‑backs or one‑off payments.
The deals also create a 1km area of interest around the boundaries of the Teck Hughes and Sylvanite projects for both surface and mining rights and grant Fulcrum a five‑year first right of refusal on existing or newly acquired property at twice the original acquisition cost with similar NSR terms, and the transactions are binding and subject to close within 30 days pending final documentation.
"Securing these surface rights for the Teck Hughes tailings project is an important strategic step; we now have the access and operational certainty needed to advance the project and further de‑risk future development," said Ryan Mee, Chief Executive Officer of Fulcrum.
