Focus Xplore Regulatory News (FOX)

30 July 2025

Focus Xplore PLC

('Focus Xplore' or the 'Company')

Exploration Update

Focus Xplore PLC (AIM: FOX), the strategic energy and critical minerals exploration and development company, is pleased to provide an update on recent activities in Ontario, Canada. The first phase of prospecting and outcrop sampling has been completed at six of the rare earth element ("REE") and lithium focused exploration projects which the Company acquired in March this year1.

HIGHLIGHTS

· Phase One activities completed at the Bay Road REE project and at the Iva, Oba, Ellie, Pearl and the Burrows lithium projects.

· Mapping and prospecting data collected at 226 stations with pegmatites identified, including at six locations at Bay Road, at nine locations at Iva and at nine locations at Oba.

· 110 samples collected with 73 samples submitted for bulk laboratory whole-rock analysis.

· Handheld portable X-Ray fluorescence ("pXRF") analyses provide an indication that fertile granites may be identified at Iva and Oba.

· Bay Road, Iva and Oba are identified as priority projects.

· Artificial intelligence ("AI") prospectivity evaluation ongoing.

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

"Focus Xplore has had a very busy and positive start in Ontario with recent first-pass exploration activities on six of our highly prospective projects running through to 11 July. Significant ground has been covered and we have made encouraging observations, including the identification of pegmatites at six locations at Bay Road, nine locations at Iva and nine locations at Oba. There are indications from pXRF measurements that fertile granites may be identified at Iva and at Oba, more extensive work is required. Bulk whole-rock analyses, expected before mid-August, will provide additional input assisting us to identify target areas and confirm the presence of mineralisation or anomalies.

Staking of the Ontario REE and lithium portfolio was strongly influenced by data from historic lake sediment sampling programmes conducted by the Ontario Geological Survey. In the past month we have applied Planetary AI Limited's Xplore system to that same lake sediment data, using its capabilities to analyse over a full range of elements from 63,000 discrete data points across Northwestern Ontario to review prospectivity at existing project locations as well as elsewhere in the region. The initial findings are encouraging, we are looking to expand on this approach.

Interpretation of the field data and the AI results are ongoing but we have already identified three priority projects with work and planning now concentrated on the Bay Road REE project and the Iva and Oba lithium projects. The Company remains focused on its objective to deliver shareholder value through significant discovery. Additionally, we continue to evaluate further opportunities for critical and precious metals in the region. I look forward to updating investors in the weeks to come."

PRIORITY PROJECT LOCATION & SUMMARY

Figure 1: Project locations with priority projects highlighted

The Bay Road Project covers 425 hectares (ha) directly south of the White Otter Batholith and is prospective for REE. The project is centred on a 6 kilometre-long extent of felsic intrusive rock2 mapped by the Ontario Geological Survey. The intrusive feature has a spatial relationship with highly anomalous REE3,4,5 in lake sediment assays, specifically the 'magnet metals' dysprosium and neodymium used in the manufacture of modern permanent magnets. The recent fieldwork has identified multiple occurrences of felsic intrusive and pegmatitic rocks; these include exposures demonstrating broadly east-west orientations which correlate with the historically mapped felsic intrusive rock noted above. Based on field observations and sample descriptions, preliminary analysis suggests the intrusive units encountered exhibit mineralogical characteristics consistent with fractionated, fertile granites, which is a geological setting considered prospective for economic mineralisation of some critical minerals including REE.

Iva is a 642 ha property centred on anomalous lithium, caesium and beryllium concentrations in lake sediments assays3. The project is located at the interface between granite and the metasedimentary lithologies6 a favourable setting for lithium-caesium-tantalum (LCT) pegmatites7. The recent programme is understood to be the first exploration for lithium completed on the property. Seven historically mapped6 pegmatites occurrences have been confirmed and sampled and a further two previously unmapped pegmatite occurrences identified and sampled. Figure 2 below illustrates sampling of a 10 metre-wide pegmatite at Iva.

Figure 2: Geologist sampling pegmatite at Iva (sample shown as insert)

Oba is a 1,175 ha lithium-focused project located within a large, 90 kilometre by 40 felsic intrusion and has multiple mapped8 occurrences of pegmatites in the vicinity of the highly anomalous lithium, caesium and beryllium in lake sediment samples9. The project has never been subject to lithium focussed exploration. Nine pegmatite occurrences have been confirmed (seven of which were not previously mapped) and sampled.

ARTIFICIAL INTELLIGENCE

Initial work with consultant Planetary AI Limited ("Planetary AI") was focused on identifying potential pegmatite and felsic intrusive trends across Bay Road and at Oba, utilising high-resolution, raw LiDAR data. This technique proved successful in directing field teams towards areas of interest at Bay Road10 and was also successful in the identification of probable pegmatite trends at the Oba lithium project.

Subsequently, Planetary AI's Xplore prospectivity tool has been applied in the evaluation of over 63,000 samples results from the Ontario Geological Survey's extensive lake sediment soil sample programmes, utilising machine learning algorithms to identify zones of potential mineralisation based on the characteristics of specific mineral deposit models. The system was configured for a lithium-caesium-tantalum pegmatite model and for a niobium-yttrium-fluorine pegmatite model, which confirmed the potential for significant mineralised systems at Bay Road, Iva and Oba. Additional algorithms specific to other deposit model types and focused on other base and precious metals have also been processed with analysis and review ongoing.

OTHER PROJECTS

The Ellie Project has been assigned a lower priority due to the limited number of pegmatites observed in the field and pXRF data that does not indicate the presence of fertile granites. Rock samples have been submitted for whole-rock analysis.

The Pearl Project is also considered lower priority, with only a single pegmatite identified to date. However, follow-up work is planned on the western extent of the project area, where LiDAR data suggests a swarm of pegmatites that has yet to be accessed.

The Burrows Projects-which includes the Snowberry, Kowka, and Biscuit Creek properties-are similarly assigned low priority. This is based on the low number of observed pegmatites and pXRF results from rock samples that do not support the presence of fertile granites.

REFERENCES

1: Focus Xplore PLC, 18 March 2025, RNS: Business Development Update, https://polaris.brighterir.com/public/focusxplore/news/rns/story/ryvqv3r.

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

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

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

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

6: Pirie, J. 1978, Ontario Geological Survey Crooked Pine Lake, Rainy River District Geological Map M2405.

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

8: Siragusa, G.M. 1977, Esnagi Lake, Algoma District - 2000 Series Map, M2382.

9: Jackson, J.E. 2002, Lake Sediment and Water Geochemical Data from the Kabinakagami Lake Area, Northern Ontario (MRD110).

10: Focus Xplore PLC, 02 June 2025, RNS: Exploration Update, https://polaris.brighterir.com/public/focusxplore/news/rns/story/x56kk2r.

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

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

Fertile granite - a type of granite that contains more water and higher concentrations of elements such as lithium and rare earth elements. These granites can serve as the source rock for rare-element and lithium-bearing pegmatites. As the granitic melt evolves, it crystallises into various units and the remaining melt can then migrate and form rare-element and lithium-bearing pegmatites in surrounding rocks.

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.

Lithium-caesium-tantalum (LCT) pegmatites - are a principal source of lithium and comprise a compositionally defined subset of granitic pegmatites. The principal lithium ore minerals are spodumene, petalite, and lepidolite; caesium mostly comes from pollucite; and tantalum mostly comes from columbite-tantalite. Tin ore as cassiterite and beryllium ore as beryl also occur in LCT pegmatites.

Mineral deposit models - are systematic representations that describe the geological, mineralogical, geochemical, and geophysical characteristics of specific types of mineral deposits. These models help geologists understand how, where, and under what conditions mineral deposits form, and they guide mineral exploration by predicting the location and potential scale of undiscovered deposits.

Niobium-yttrium-fluorine pegmatite - constitute a subgroup of the rare-element pegmatite group that is broadly considered to include pegmatites enriched in rare earth and high field strength elements and depleted in rare alkali metals relative to LCT bearing counterparts.

Rare earth element (REE) - a member of a group of 17 metallic elements, encompassing the 15 lanthanides (atomic numbers 57-71) along with scandium (Sc) and yttrium (Y). These elements are known for their unique magnetic, luminescent, and electrochemical properties, making them crucial for various high-tech applications.

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

**ENDS**

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