The Albany Gazette - Chancery Agrees Non-Binding US$20 Million Royalty to Advance Cyanide-Free Gold Recovery from Historic Mine Waste

HAMILTON, BM / ACCESS Newswire / September 16, 2026 / Chancery Royalty has agreed a non-binding term sheet for a proposed US$20 million royalty financing and agreed a £200,000 strategic equity investment in Fulcrum Metals plc (AIM:FMET)(OTCQB:FULMF), expanding its exposure to gold recovery from historic mine-waste in Ontario, Canada.

Under the proposed financing, Chancery would receive a 5% net smelter return royalty over gold production from Fulcrum's Teck-Hughes project in Kirkland Lake. Fulcrum would retain the right to repurchase 2% of the royalty for US$10 million.

Fulcrum is developing a standalone pilot facility in Toronto to process cyanide-free technology for recovering gold and critical minerals from mine waste. The facility is designed to establish the operating model for a commercial platform that can be scaled across additional tailings projects and third-party partnerships.

For Chancery, the proposed transaction provides exposure to both the project and a potentially repeatable mine-waste recovery platform.

Chancery Royalty Ltd is a fast-growing, Bermuda-based gold and silver royalty company with four producing and near-producing royalties across the USA, Brazil, Canada and Finland, plus an agreement for a fourth on a large development-stage gold mine in Ethiopia. Chancery is forecasting growth from ~4,000 GEOs in 2027 to over 28,000 GEOs within four years, offering investors direct gold leverage without operational risk.

Chancery Royalty Ltd is a fast-growing, Bermuda-based gold and silver royalty company with four producing and near-producing royalties across the USA, Brazil, Canada and Finland, plus an agreement for a fourth on a large development-stage gold mine in Ethiopia. Chancery is forecasting growth from ~4,000 GEOs in 2027 to over 28,000 GEOs within four years, offering investors direct gold leverage without operational risk.

Details of the Deal

• US$20 million non-binding royalty financing term sheet signed with Chancery Royalty
• proposed 5% NSR over Teck-Hughes gold production provides a potential non-dilutive route to production funding
• Fulcrum would retain the right to repurchase 2% of the royalty for US$10 million
• £200,000 subscription for new ordinary shares in Fulcrum by Chancery at 8.5p per share
• Potential framework for future royalty opportunities beyond the Company's Teck-Hughes tailings project
• Definitive agreements subject to successful pilot-scale testing and customary conditions

Chancery Royalty CEO, Jeremy Gray, commented:

"Fulcrum is strategically positioned to deliver both the near-term production and the long-term growth Chancery looks for in a partner. Its innovative, cyanide-free approach to metal recovery and commitment to environmental remediation fit our differentiated platform for sustainable growth."

The royalty structure gives Chancery exposure to a project built around reprocessing historic tailings, rather than capital-intensive excavation, with a right of first refusal over future royalties on additional mine waste projects across Fulcrum's wider Kirkland Lake pipeline for two years.

Fulcrum Metals CEO, Ryan Mee, added:

"We see Chancery as an ambitious and growth-oriented royalty company and welcome them as a shareholder and a potential long-term funding partner. The proposed royalty financing provides a framework to advance Teck-Hughes from pilot-scale validation towards commercial production."

For more information on Chancery Royalty and its current financing, please visit the link here.

or contact:

Edward Balme
+44 7514 584 610
[email protected]

SOURCE: Chancery Royalty Ltd

View the original press release on ACCESS Newswire

(R.White--TAG)