Focus Xplore Regulatory News (FOX)

22 May 2025

Focus Xplore PLC

('Focus Xplore' or the 'Company')

Exploration Programme Update

Second field team commences field activities in Northwestern Ontario and positive initial observations by first field team

Focus Xplore PLC (AIM: FOX), the strategic energy and critical minerals exploration and development company, is pleased to provide an update on its exploration programmes in Ontario, Canada. A second field team has commenced geological prospecting, mapping and sampling activities at the Company's Burrows Projects. This follows commencement of exploration programmes by a first team at the Company's Ellie and Bay Road Projects last week and where felsic intrusions and pegmatitic features are confirmed.

Patrick Cullen, Chief Executive Officer of Focus Xplore, commented:

"We are pleased to develop early momentum on our critical minerals portfolio in Ontario, where we have commenced work on properties prospective for lithium and for rare earth elements, specifically the 'magnet metals' dysprosium and neodymium.

We are focused on making pegmatite-hosted discoveries. Pegmatites that host lithium-bearing minerals are sometimes exposed in the field so there is possibility to make an exciting discovery at an early stage - we've seen this happen in Ontario and elsewhere in the past - so we want to cover as much ground as possible. Secondly, we will gather a body of geological data which will serve to direct our efforts as the field season progresses and to vector towards discovery. We will also input the new data into the AI system we are working with to enhance its targeting capabilities going forward.

Initial communications from the ground crews indicate that we've successfully targeted features which we interpreted from raw LiDAR data and whist working with our AI consultants in preparation for the 'boots on the ground' work. Felsic intrusions were identified at Bay Road and the northern sections of Ellie with pegmatitic occurrences confirmed at both properties. I'm looking forward to providing detailed updates in the next week or so as we begin to receive and compile data from this exciting phase of work."

ABOUT THE BURROWS, BAY ROAD AND ELLIE PROJECTS

The Burrows Projects were acquired as part of the acquisition of 31 Explore Ltd as announced on 10 February 2025 and comprise three properties covering 2,400 hectares (ha) in an under-explored area outlined by the Ontario Survey as a target for grassroots lithium exploration1. Elevated lithium and caesium are known from deep lake sediment assays and the local geology is recognised as having potential to host lithium-bearing pegmatites2. Historic drilling in the 1970s3,4 within 2 km of the projects intersected 5 metre-thick pegmatites, but these were not assayed for lithium.

The Bay Road Project covers 425 ha directly south of the fertile White Otter Batholith and is prospective for rare earth elements (REE). The property is centred on 6 km of felsic intrusive rock5 mapped by the Ontario Geological Survey. The intrusive feature has a spatial relationship with highly anomalous REE6,7,8 in lake sediment assays, specifically the 'magnet metals' dysprosium and neodymium used in the manufacture of modern permanent magnets.

The Ellie Project covers 530 ha along trend from a felsic dyke5, with highly anomalous lithium in lake sediment results6,9 immediately to the northeast. Anomalous lithium, beryllium and niobium in lake sediment results are evident in other nearby lakes. The project is located on the south-western flank of the Eye-Dashwa Intrusion, an Archean granodiorite. Kenorland Mineral's (TSXV: KLD) Algoman gold and lithium project lies adjacent to the south.

REFERENCES

1: Paju, G.F. 2019. Beardmore to Geraldton: A grassroots look for lithium in a prolific gold camp; in Report of Activities 2018, Resident Geologist Program, Thunder Bay North Regional Resident Geologist Report: Thunder Bay North District; Ontario Geological Survey, Open File Report 6352, p.55-71.

2: Bradley, D.C., McCauley, A.D., Stillings L.M., 2017, Mineral-Deposit Model for Lithium-Cesium-Tantalum Pegmatites, USGS.

3: Hudson Bay Exploration & Development Co Ltd, 1973, Hudson Bay Exploration And Development Company Limited, Final Report On Exploration, Exploration Assistance Agreement. Geraldton - Beardmore Area, Thunder Bay Mining Division - Ontario, Longlac Project; Contract No. Gb-25 (Assessment Report Number: 42E15NE8354 ).

4: Moly-Ore Mines Ltd, 1965, Report on Diamond Drilling Program on Moly Ore Mines Limited, Burrows Lake Property, Area of Burrows Lake, Port Arthur Mining Division, (Assessment Report Number: 42E15NW0002).

5: Santaguida, F., 2001, Ontario Geological Survey, Precambrian Geology Compilation Series - Quetico Sheet, 2000 Series Map (M2663).

6: Dyer, R.D., 1999, Lake Sediment and Water Geochemistry Data from the Atikokan-Lumby Lake Area, Northwestern Ontario (MRD043).

7: Jackson, J.E. 2003, Lake Sediment Geochemical Data from the Ignace Survey Area, Northwestern Ontario: Operation Treasure Hunt (MRD118).

8: Dyer, R.D., Burke, H.E. 2012, Lake Sediment and Water Geochemical Data from the Mine Centre Area, Northwestern Ontario (MRD296).

9: Jackson, J.E., 2001, Lake Sediment and Water Geochemical Data from the Shebandowan Lake Area, Northwestern Ontario (MRD076).

QUALIFIED PERSON STATEMENT

The technical information contained in this disclosure has been reviewed and approved by Mr Nick O'Reilly (MSc, DIC, MIMMM QMR, MAusIMM, FGS), who is a qualified geologist and acts as the Qualified Person under the AIM Rules - Note for Mining and Oil & Gas Companies. Mr O'Reilly is a principal consultant working for Mining Analyst Consulting Ltd which is providing independent technical review to Focus Xplore PLC.

GLOSSARY

Archean - or Archaean, describes the geological period from 4,000 million years ago to 2,500 million years ago.

Batholith - type of igneous intrusion

Critical mineral - while there is no universally accepted definition of a critical mineral, it is commonly agreed that critical minerals have specific industrial, technological or strategic applications for which there are few viable substitutes. These minerals are economically important and can be subject to supply risk.

Felsic intrusion - is an intrusion of igneous rock that is predominantly composed of felsic minerals, such as quartz, feldspar, and muscovite.

Granodiorite - is a coarse-grained intrusive igneous rock similar to granite, but containing more plagioclase feldspar than orthoclase feldspar- orthoclase is primarily a potassium feldspar, while plagioclase is a sodium and calcium feldspar.

LiDAR - Light Detection and Ranging is a remote sensing method that uses light in the form of a pulsed laser to measure ranges (variable distances) commonly used to generate precise, three-dimensional information of the elevation of the Earth's surface.

Pegmatite - an igneous rock with a very coarse, irregular texture that forms during the final stage of a magma's crystallisation.

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

**ENDS**

Enquiries:

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.