What were the key events that lead First Class Metals toward an IPO in 2022?

First Class Metals (FCM) holds 100% ownership of 7 claim blocks in the Hemlo-Schreiber-Harte greenstone terrain. We started as a cottage industry, with a few claims, and ultimately reached a critical mass that needed technical input. Then Power Metals Resources PLC, initiated discussions and we agreed to combine their claims with First Class’ in exchange for a 30% stake in the company. Palladium One, our neighbors at North Hemlo, subsequently approached us to do an earn-in joint venture at our West Pickle Lake property. This coincided with our grant of C$200k from the Ontario Junior Explorers Programme (OJEP). That money coupled with Palladium One being prepared to spend C$325K meant we raised over C$500K exploration budget without spending a cent. The listing process was torturous. IPOs were being canceled, suspended, and forgotten about all around us. However, FCM ultimately got across the line and became one of very few new London listings in 2022. Moreover, we submitted our document when the London Stock Exchange changed the listing rules for main listed companies from a market cap of less than £1M to £30M. This means we are now small fish in a big pond. What did you find compelling about the geology First Class Metals claims possess?

There are several compelling attributes. For example, Palladium One's Tyko Project, which includes the ultra-high grade nickel discovery Smoke Lake near us. Looking at the vectors on the western side of North Hemlo, at Panther Metals' Dotted Lake project, those trends continue onto our property. In addition, there is a distinct lack of (systematic) exploration of our properties. After the discovery of Hemlo, there was a frenetic explosion of exploration in the area. The First-Class claims have not had much drilling done, there has not been cohesive sampling done, nor has there been blanket geophysics. We are now seeing some very encouraging results including the recent assays from the first drill reported from the Pickle Lake project we share with Palladium One. The first hole reported 4.8% Nickel, and 3.7% Copper (6.8% Nickel Equivalent) over 1.8 meters from massive nickel-copper sulfides. These results have carried through to several other high-grade holes, some of which have double-digit nickel equivalent percentages. In total, more than 30 holes have been drilled for over 6,000m, for instance, hole TK22-76 is more than 2km west of WPL. We have recently reported multiple multi-gram including ‘double digit’ gold values from our Dead Otter trend along a broader 3km structure. The goal of FCM is to develop our claims to a point where in five years’ time a mid-tier or major would make an offer to take North Hemlo into production. How would you characterize your approach to exploration?

Currently, FCM is undertaking a methodical, systematic reconnaissance of the property, because this has not been the focus in the past. There is no point in having an exploration permit to do drilling, trenching, and stripping if we have not vectored in on the highest priority targets. Therefore, in the meantime, we will use classical systematic exploration methods with geologists on the ground walking alongside contemporary state-of-the-art methodology, including airborne geophysics and perhaps using remote sensing. Thus far, we have done a structural interpretation of the Hemlo area covering our claim blocks, and we have completed high-resolution magnetics over North Hemlo. Why is now a good time for potential investors to acquire shares of First-Class Metals?

We did a lot of work pre-IPO. We hit the ground running with significant de-risking, and we did this by doing the work needed on the properties, by the identification of potential by the OJEP Grant, and by gaining Power Metals Resources and Palladium One's involvement. Since listing, we have had geological teams out in the field and in the air from May 2022 onward, with multiple results coming in. The first of these results have evidenced a new gold occurrence on the Enable Property and more importantly a 3km+ trend of gold and moly on the North Hemlo property which sits on the North Limb of Hemlo syncline just 20km above the iconic Barrick Hemlo gold mine.

The acquisition of the historical high-grade past-producing Sunbeam Gold Mine, along with the recently announced drilling results from West Pickle Lake, put the spotlight on our company. We also have our exploration permits in progress, leading up hopefully to a maiden drill campaign in 2023. Finally, in March 2023, we inked an agreement with Nuinsco Resources for the Zigzag hard rock lithium prospect in NW Ontario.