Further to the Company's announcement on 3 April 2024 (the "Previous Announcement"), Fulcrum Metals plc (AIM:FMET), a company focused on mineral exploration and development in Canada, provided an update on the proposed sale of its uranium projects (the "Uranium Projects") located in Saskatchewan, Canada to Terra Balcanica Resources Corp. (CNSX:TERA) ("Terra"). On 2 April 2024, Fulcrum granted Terra the option to acquire a 100% interest in its Uranium Projects (the "Proposed Transaction") by way of a letter of intent (the "LOI") and it was anticipated that a definitive agreement would be entered into during May 2024.

However, due to delays in the documentation process, Fulcrum and Terra entered into an extension agreement on 16 May 2024 whereby the date by which the definitive agreement pursuant to the Proposed Transaction must be executed has been extended to 15 June 2024. Full details of the LOI and the Proposed Transaction are disclosed in the Previous Announcement and, save for the completion date, it is expected that a definitive agreement on the Proposed Transaction will be on those terms. It should be noted that there can be no guarantee that a definitive agreement will be entered into, nor the timing thereof. Ryan Mee, Chief Executive Officer of Fulcrum, commented: "Since signing the non-binding LOI, Terra has been fully engaged in working towards the completion of the acquisition of our exciting, highly prospective, uranium portfolio in Saskatchewan, a premier uranium jurisdiction.

Certain steps under that process have, unfortunately, taken longer than anticipated, but we are confident that the acquisition will be completed by the extended back stop date of 15 June 2024. I look forward to providing further updates as the transaction is closed out and welcoming Terra as a partner to explore and advance these projects in a strong industry driven by the energy transition to lower baseload power carbon emissions".