Metals One PLC

Regulatory News Service • Sep 29, 2025

National Storage Mechanism | Additional information

RNS Number : 0757B

Metals One PLC

29 September 2025

29 September 2025

Metals One Plc

("Metals One" or the "Company")

Uranium Rock Chip Sampling Assay Results

Ore-Grade Uranium, Vanadium and Copper Assays Confirmed in Historical Mining Areas at UV Project, Colorado

Metals One plc (AIM: MET1), a critical and precious metals exploration and development company, is pleased to announce the results of reconnaissance rock chip sampling and scintillometer surveying at its Uravan Uranium-Vanadium Project in Montrose County, Colorado (the "Project").

A total of 19 rock chip samples were collected from across the claim block and surrounding areas. The samples were analysed for uranium, vanadium and associated elements, with full QA/QC protocols including blanks, standards and duplicates.

Highlights:

·    Uranium assays up to 41,768 ppm U (4.17%) from historic waste material (UV5).

·    Vanadium assays up to 24,688 99m V (2.46% V) (UV16, waste dump).

·    Copper up to 11,449 ppm Cu (1.14% Cu) (UV16).

·    Silver up to 99.4 g/t Ag (UV5).

·    Pathfinder elements typical of redox-front uranium systems, including molybdenum (108 ppm), selenium (32 ppm) and arsenic (428 ppm), coincident with high uranium-vanadium values.

·    Results confirm uranium-vanadium-copper-silver association typical of Salt Wash Member (Morrison Formation), which is known to host uranium deposits.

·    Sampling included historic waste dumps and limited outcrop.

Figure 1: Uranium assay results from recent rock chip sampling

Scintillometer Survey

A RS-125 spectral scintillometer survey over the UV claim block identified numerous high-count anomalies (>3× background, up to 27,000 CPS), mostly coinciding with historic mine sites, but also including moderate anomalies in areas without recorded workings (see Figure 2 below):

·    Red category (>400 CPS) anomalies cluster around historical adits.

·    Green anomalies (above 250 CPS) represent anomalous above background readings.

Figure 2: Results from the scintillometer survey

Sampling Context

·    Majority from historic waste dumps associated with former uranium-vanadium workings, confirming the high tenor of ore historically mined in the district

·    Limited in-situ material sampled, notably UV16 (outcrop adjacent to adit) and UV19 (mine working face plus waste)

·    Mineralisation hosted in sandstone of the Salt Wash Member, Morrison Formation, dominated by carnotite and uraninite, with some roscoelite

Craig Moulton, Chairman of Metals One, commented:

"These results indicate the exceptional grades historically mined from the Project, with multiple samples containing uranium and vanadium at ore-grade levels. While these results are not from in-situ mineralisation and cannot be taken as indicative of average grades, they provide strong validation of the scintillometer anomalies identified in our survey and evidence of high value material mined historically from many visible adits.

Our next steps will involve surveying the historical adits across the anticline to understand the extent and grade of these occurrences and therefore determine the exploration potential of the Project."

Enquiries:

Metals One Plc Jonathan Owen, Chief Executive Officer Craig Moulton, Chairman	[email protected] +44 (0)20 7981 2576
Beaumont Cornish Limited (Nominated Adviser) James Biddle / Roland Cornish	+44 (0)20 7628 3396
Capital Plus Partners Limited (Joint Broker) Jonathan Critchley	+44 (0)207 432 0501
Vigo Consulting (UK Investor Relations) Ben Simons / Fiona Hetherington / Anna Stacey	[email protected] +44 (0)20 7390 0230
Fairfax Partners Inc (North America Investor Relations)	[email protected] +1 604 366 6277

About Metals One

Metals One is pursuing a strategic portfolio of critical and precious metals projects in low-risk jurisdictions, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials, and record high gold prices.

Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1).

Schedule of projects/investments: 

Project/Company	Commodities	Location	Ownership	Acquisition Status
Black Schist Project	Ni, Zn, Cu, Co	Finland	93.75%	Completed - July 2023
CleanTech Lithium (AIM: CTL)	Li	Chile	10.7%	Completed - September 2025
Evolution Energy Minerals (ASX: EV1)	Graphite	Tanzania	16.9%	Completed - September 2025
Fulcrum Metals (AIM: FMET)	Au	Canada	5.9%	Completed - July 2025
Lillefjellklumpen Project	PGE, Au, Ni, Cu	Norway	100%	SPA executed, completion pending
Lions Bay Capital (TSX-V: LBI)	Au, Cu	South Africa	19.1%	1st tranche completed - August 2025
Radium Mountain Project	U, V	USA	75%	Completed - August 2025
Råna Project	Ni, Cu, Co	Norway	39%	Completed - July 2020
Red Basin Project	U	USA	35%	Completed - August 2025
Squaw Creek Project	U	USA	100%	Completed - July 2025
Swales Project	Au	USA	100%	Completed - June 2025
Uravan Belt Project	U, V	USA	100%	Completed - July 2025
Vanadium King Project	U, V	USA	75%	Completed - August 2025
Wedding Bell Project	U, V	USA	75%	Completed - August 2025

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Market Abuse Regulation (MAR) Disclosure

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').

Nominated Adviser

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.

Appendix 1: JORC Code, 2012 Edition - Table 1

Appendix 1a: Section 1: Sampling Techniques and Data

Criteria	Commentary
Sampling Techniques	19 rock-chip samples were collected from waste dumps and limited outcrop exposures. Samples were first screened using a scintillometer and then sent for laboratory analysis with ore-grade assay methods.
Drilling Techniques	No drilling has been undertaken. Results are from surface reconnaissance sampling only.
Sample Recovery	Not applicable, as no drilling has been completed. Rock-chip samples were hand-selected from exposed material.
Logging	Samples were field logged with notes on lithology, mineral occurrence, and whether material was derived from dumps or outcrop.
Sub-sampling Techniques and Sample Preparation	Samples were submitted directly to the laboratory. The lab employed industry-standard QA/QC procedures, including standards and duplicates.
Quality of Assay Data and Laboratory Tests	Assays were conducted by an accredited laboratory using ICP-MS with ore-grade detection limits. Field scintillometer readings were used as a guide only.
Verification of Sampling and Assaying	Scintillometer readings cross-checked with assays. No umpire laboratory checks have yet been undertaken.
Location of Data Points	Sample locations recorded using handheld GPS with approximately ±5 m accuracy. Coordinates reported in WGS84 datum.
Data Spacing and Distribution	Reconnaissance sampling only. Sample locations are irregular and selective rather than systematic.
Orientation of Data in Relation to Geological Structure	Samples were selective, based on visible mineralisation in dumps and outcrop. Orientation not considered material at this stage.
Sample Security	Samples were retained in custody of the field team before dispatch to the laboratory.
Audits or Reviews	No external audits or reviews of sampling techniques or data have yet been undertaken.

Appendix 1b: Section 2: Reporting of Exploration Results

Criteria	Commentary
Mineral Tenure Status	The project is located in Montrose County, Colorado, USA. Tenement verification is in progress. The area is known for historic uranium-vanadium mining (Uravan district).
Exploration by Other Parties	The project area includes historic uranium and vanadium workings, with multiple waste dumps sampled. Historic mining targeted carnotite mineralisation.
Geology	The geology is typical of the Colorado Plateau, with uranium-vanadium mineralisation hosted in fluvial sandstones of the Salt Wash Member of the Morrison Formation.
Drill Hole Information	Not applicable at this stage as no drilling has been conducted.
Data Aggregation Methods	All assay results are reported as individual samples; no averaging or aggregation has been applied.
Relationship Between Mineralisation Widths and Intercepts Lengths	Not applicable as no drilling has been undertaken.
Diagrams	Sample locations and assay distributions have been plotted on maps with north arrow, scale bar, and WGS84 projection.
Balanced Reporting	All assay results are reported, including both low and high values, and noting the context of waste dumps versus in-situ outcrop samples.
Other Substantive Exploration Data	Scintillometer survey data, field notes, and topographic maps support the sampling results.
Further Work	Future work will include systematic mapping, channel sampling of outcrop, drilling to test extensions at depth, and confirmation of tenement status.

Appendix 2: Technical Glossary

Adit

A nearly horizontal tunnel driven into the side of a hill or mountain to access an underground mine. Adits are used for entry, drainage, and ventilation, and often provide access directly to an ore body without the need for vertical shafts.

Counts per Second (CPS)

The unit used by scintillometers to record radiation intensity, expressed as the number of gamma-ray counts detected per second. Higher CPS values usually indicate elevated uranium or thorium.

Carnotite

A bright yellow uranium-vanadium mineral [K₂(UO₂)₂(VO₄)₂·3H₂O] that is a primary ore of both uranium and vanadium.

Ore-grade

A concentration of metal in rock that is considered high enough to be of economic interest, depending on market prices and mining conditions.

ppm (parts per million)

A unit of concentration used in geochemistry and assay reporting. For metals, 10,000 ppm equals 1% by weight.

QA/QC (Quality Assurance/Quality Control)

Industry standard procedures involving blanks, standards, and duplicates to ensure assay reliability and accuracy.

Redox-Front Uranium Systems

Uranium deposits that form where oxidised, uranium-bearing fluids encounter reducing conditions in the subsurface (e.g., organic matter, sulphides). At this chemical "front," uranium precipitates out of solution, creating mineralisation.

Roscoelite

A vanadium-bearing mica mineral (K(V³⁺,Al,Mg)₂(AlSi₃O₁₀)(OH)₂) that often occurs in association with vanadium-uranium mineralisation in sandstones.

Salt Wash Member (Morrison Formation)

A Jurassic-age sandstone unit within the Morrison Formation of the Colorado Plateau. Known historically as one of the most important hosts of uranium-vanadium mineralisation in the United States.

Scintillometer Surveying

A field technique using a handheld instrument that measures natural gamma radiation emitted from rocks. Useful for detecting uranium mineralisation at surface or near-surface.

Uraninite

A uranium oxide mineral (UO₂), typically black, dense, and radioactive. It is the most important primary uranium ore mineral worldwide.

Qualified Person's Statement

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information and supporting documentation compiled by Craig Moulton, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM).

Mr. Moulton has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Qualified Person as defined in the AIM Note for Mining, Oil and Gas Companies and as a Competent Person under the JORC Code (2012 Edition).

Mr. Moulton consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

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