Lithium

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Critical Elements Lithium Corporation (TSX-V:CRE) (OTCQX:CRECF) (FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce the results from the Corporation's pilot plant program recently completed at the Metso Outotec Research Center, successfully converting spodumene concentrate from the Rose Project ("Rose") into battery grade lithium hydroxide using a thermal leaching process

The pilot plant conversion process from spodumene concentrate to lithium hydroxide was further optimized and confirmed the previous strong results with extraction and conversion rates of 92 %. In addition, the pilot plant produced battery grade lithium hydroxide. A summary of impurity levels is provided below:

The two critical steps of the process to recover the lithium from spodumene are the conversion from alpha spodumene to beta spodumene where the piloting work achieved 98% conversion rate and the separation of the lithium hydroxide from the calcined spodumene by soda-leaching (98% efficiency) and conversion to lithium hydroxide (96% efficiency).

  • Battery grade lithium hydroxide with a further improved quality profile
  • High spodumene alpha/beta conversion / leaching / conversion rates of combined 92%
    • Efficiency for the calcination 98%
    • Efficiency for the soda-leaching 98%
    • Efficiency for the lithium hydroxide conversion 96%

PILOT PLANT WORK DETAILS

The pilot plant work program was conducted at Metso Outotec's Research Center in Finland:

  • Test work campaign, related to Metso Outotec's lithium hydroxide production process, was carried out for Critical Elements Lithium Corporation at the Metso Outotec Research Center in Finland and Germany.
  • Varying concentrate grades were tested during the test work campaign.
  • Two different North American lime sources have been qualified and approved.
  • Process parameters have been modified and adapted.
  • Concentrate used for pilot plant testing was provided from sample taken from Critical Elements Rose and Rose South zones.
  • During the test campaign, the process flowsheet was optimized.
  • The main unit operations in the pilot process were:
    • Calcination of alpha spodumene
    • Slurry preparation for soda leach
    • Soda leach of calcined spodumene
    • Soda leach residue filtration and washing
    • Lithium hydroxide conversion by lime
    • Conversion residue filtration and washing
    • Solution purification by ion exchange
    • Lithium hydroxide crystallisation
    • Crystallization mother liquor recycling
  • High, 92% Li extraction from alpha spodumene and after calcination/soda leach and lithium hydroxide conversion.
  • Test work results produced lithium hydroxide with the following impurity profile:

LiOH analyses - impurity levels in LiOH

CO2

Cl

SO4

Mg

Al

Cr

Mn

Fe

Ni

Cu

Pb

Na

Si

K

Ca

Zn

%

ppm

ppm

ppm

ppm

ppm

ppm

ppm

ppm

ppm

ppm

ppm

Ppm

ppm

ppm

ppm

Successful results using a thermal leaching process demonstrate that Critical Elements can deliver a battery grade lithium hydroxide to the electric vehicle market. Additional tests may need to be conducted by the Corporation in order to meet customer specific requirements.

To date Critical Elements has completed the following testing and piloting work:

  • Piloting of the chosen concentrator plant design (see Critical Elements press release dated April 5, 2017).
  • Piloting of the thermal conversion of the ore from α-spodumene to β-spodumene (See Critical Elements press release dated April 13, 2017).
  • Piloting of the Thermal Leaching Process + bicarbonizationfor lithium carbonate (See Critical Elements press release dated May 29, 2017).
  • Piloting of the Thermal Leaching + Lime Process to produce lithium hydroxide (See Critical Elements press release dated October 29, 2018).

Metso Outotec is a leading technology company in multiple mining and extraction industries, including the lithium industry, with a global presence and owned R&D facilities in in Frankfurt, Germany and Pori, Finland, as well as other locations.

They offer competent knowledge of the various processing options for both beneficiating spodumene, as well as converting spodumene into saleable lithium salts. Their lithium expertise includes multiple years of research into various lithium processing options, including the understanding and optimizing of the process Critical Elements has chosen for lithium extraction.

Next Steps

Following this successful lithium hydroxide process optimization campaign, Critical Elements will finalize its feasibility study for a lithium hydroxide conversion facility.

As the study is still underway, it is important to note that the Corporation is not in a position to confirm as of the date hereof if the hydroxide chemical plant to produce high quality lithium hydroxide monohydrate will ever be implemented or that it will form part of the Rose project.

Qualified persons

Paul Bonneville, Eng., is the qualified person that has reviewed and approved the technical contents of this news release on behalf of the Corporation.

About Critical Elements Lithium Corporation

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, the Corporation completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at C$726 million at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government; The Corporation is working to obtain similar approval under the Québec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

For further information, please contact:

Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
plaperriere@cecorp.ca
www.cecorp.ca

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement concerning forward-looking statements

This news release contains "forward-looking information" within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information contained herein include, without limitation, statements relating to the completion of the provincial permitting process and its potential positive effects on the Corporation and the Project, the completion of engineering study for a chemical plant to produce high quality lithium hydroxide monohydrate, and continued positive discussions and relationships with local communities and stakeholders. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: results of the engineering study for a chemical plant to produce high quality lithium hydroxide monohydrate, Critical Elements' ability to secure sufficient financing to advance and complete the Project, uncertainties regarding global supply and demand for lithium and tantalum and market and sales prices, uncertainties with respect to social, community and environmental impacts, uncertainties with respect to optimization opportunities for the Project, as well as those risk factors set out in the Corporation's year-end Management Discussion and Analysis dated August 31, 2021 and other disclosure documents available under the Corporation's SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

SOURCE:Critical Elements Lithium Corporation



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CRE:CA
Critical Elements Lithium Corporation

Critical Elements Lithium Corporation

Overview

Critical Elements Lithium Corporation's (TSXV:CRE,OTCQX:CRECF,FWB:F12) vision is to be a large, responsible supplier of lithium hydroxide to the emerging electric vehicle and energy storage industries. The company is well-positioned, wholly owning over 530 km² of prospective lands hosting one of the highest purity spodumene deposits globally. This deposit is in Quebec, one of the company's premier mining investment jurisdictions. The company aspires to achieve its goals with a minimal environmental footprint by drawing electricity from Quebec's established low-carbon power grid, and in cooperation with the Cree Nation and local First Nations communities, with whom relationships have been formalized.

The Rose lithium-tantalum deposit, one of the largest highest purity lithium deposits in the world, can supply multiple lithium markets because of its unique purity with low iron oxide and mica content. The Rose lithium-tantalum deposit has an updated NI 43-101 resource estimate that outlines an indicated resource of 31.9 million tonnes grading 1.04 percent lithium oxide equivalent or 0.93 percent lithium oxide and 148 ppm of tantalum pentoxide with an inferred resource of 2.8 million tonnes grading 0.92 percent lithium oxide equivalent or 0.82 percent lithium oxide and 145 ppm of tantalum pentoxide.

Following a positive feasibility study for spodumene mining and concentration, Critical Elements Lithium Corporation is now ready to advance to the next stage of development for Rose. The feasibility study was, in part, informed by the results of a bulk sampling and pilot plant study. The results demonstrated that the conversion of the resources from the Rose lithium-tantalum deposit into the spodumene crystalline phase is easily achievable, with lithium concentrate grades up to 6.56 percent. Extraction was achieved at high conversion rates for chemical and technical-grade spodumene, yielding 83.4 percent with a concentrate grade of 6.41 percent for Rose, and recovery averaged 81.9 percent with a concentrate grade of 6.56 percent for Rose South. The high yield confirms the low-impurity profile of the Rose ore, allowing for the production of battery-quality lithium carbonate at a competitive cost and without additional purification steps.

Most recent testing at the Rose lithium-tantalum pilot plant has resulted in the production of battery-quality lithium hydroxide. Critical Elements was able to demonstrate that its plant can achieve extraction rates of 93 percent, which is higher than the market benchmark of 70 percent to 75 percent. The plant's overall recovery rate from spodumene to battery-quality lithium hydroxide is 80 percent, which is again higher than the market benchmark of 65 percent.

Tantalum is used in a wide variety of applications across the electronics, medicine, engineering and energy-generation industries. Since 1995, the market for tantalum has experienced average yearly growth in demand of about 8 to 12 percent. End users are facing increasing market pressure to secure conflict-free sources of tantalum, further tightening global supply.

Critical Elements Lithium Corporation is focused on developing supply for these markets at its Rose lithium-tantalum project. The unique geological properties of this deposit give it the potential to supply multiple markets, including battery-grade materials, ceramics, glass and tantalum.

Company Highlights

  • The positive Phase 1 feasibility study shows a pre-tax NPV 8 percent of C$1.257 billion and pre-tax IRR of 48.2 percent
  • Higher lithium recoveries in concentration and carbonation compared to peers
  • Pilot plant testing achieved an 83 percent lithium recovery rate from the Rose lithium-tantalum project ore to battery quality lithium carbonate and 80 percent to battery quality lithium hydroxide
  • No uranium or thorium contaminants in the deposit, low iron content, low mica content
  • Critical Elements engages GoldSpot Discoveries Corp. (TSXV:SPOT; OTCQX:SPOFF), a leading technology services company, to apply its proprietary machine learning technology and geoscience expertise on Critical Elements' extensive property package located in James-Bay, Quebec.
  • Critical Elements also received UL 2723 ECOLOGO® Certification for Mineral Exploration Companies. The Company has successfully completed the final stage of the certification process, which includes audit results, use of the UL ECOLOGO® mark, and registration in UL's SPOT sustainable product database.
  • Critical Elements and Lomiko Metals Inc. (TSXV:LMR, OTCQB:LMRMF, FSE:DH8C) have entered into an option agreement that gives Lomiko the right to acquire up to a 70 percent interest in the Bourier project.

Key Project

Key Property: Rose Lithium-Tantalum Project

The Rose lithium-tantalum project is located in the James Bay area of Quebec, Canada, about 35 kilometres north of Nemiscau and 75 kilometres due south of Newmont Corporation's (NYSE:NEM) Eleonore gold deposit. Excellent infrastructure is in place locally and regionally, including 100 ton capacity road access, an airport, a mining camp and a power line directly on the project property.

Rose is located in the Quebec Plan Nord designated area, where the government is fast-tracking the construction of new infrastructure, accelerating permitting and assisting with project financing. The project covers about 109 square miles of active mining titles in the northeastern part of the Archean Superior Province of the Canadian Shield craton and within the southern portion of the Middle and Lower Eastmain greenstone belt.

Resource Estimate

The Rose deposit has an updated NI 43-101 resource estimate of 31.9 million tonnes of indicated resources containing 1.04 percent lithium oxide equivalent or 0.93 percent lithium oxide and 148 ppm of tantalum pentoxide, and an inferred resource of 2.8 million tonnes grading 0.92 percent lithium oxide equivalent or 0.82 percent lithium oxide and 145 ppm of tantalum pentoxide.

Feasibility Study

In November 2017, Critical Elements announced the completion of a positive Phase 1 feasibility study for the Rose project with a pre-tax NPV at 8 percent of C$1.257 billion and a pre-tax IRR of 48.2 percent. The study is based on a conventional truck and shovel open pit operation that is expected to process 1.61 million tonnes a year in a conventional milling process with the aim of producing technical and chemical grade spodumene concentrate and a tantalite concentrate. The mine is expected to excavate a total of 26.8 million tonnes of ore of an average grade of 0.85 percent lithium oxide and 133 parts per million of tantalum pentoxide. Critical Elements Lithium Corporation has submitted their environmental and social impact study to the federal and provincial environmental agencies.

Highlights from the Phase 1 Feasibility Study include:

  • After-tax NPV of C$726 million at an 8 percent discount rate
  • After-tax IRR of 34.9 percent
  • Price assumption of US$1,500 per tonne technical grade lithium concentrate, US$750 per tonne chemical grade lithium concentrate, US$130 per kg tantalum pentoxide
  • Average annual production of 186,327 tonnes of chemical grade lithium concentrate
  • Average annual production of 50,205 tonnes of technical grade lithium concentrate
  • Average annual production of 429 tonnes of tantalum concentrate
  • Expected mine life of 17 years
  • Average operating costs of C$66.56 per tonne milled
  • An estimated initial capital cost of C$341.2 million before working capital
  • 100 percent equity basis for project
  • Average gross margin of 63.6 percent
  • Anticipated construction time to start of production of 21 months

Industry leading Primero Group recently completed the first phase of its Early Contractor Involvement agreement with the company and provided a guaranteed maximum price for the engineering, procurement and construction of the Rose project on a lump sum turnkey basis that is in line with the project's feasibility study. Critical Elements expects Primero to complete detailed engineering over the coming months.

Excellent recoveries and battery-grade purity

Intensive metallurgical testing and flowsheet optimization work has shown that Critical Elements Lithium Corporation's Rose lithium-tantalum project demonstrates a significant advantage over other known lithium deposits based on its ability to produce premium-purity lithium carbonate at a low cost.

During flotation testing, recoveries reached up to 91.9 percent lithium with a concentration grade of 6.43 percent lithium; recoveries averaged 90.88 percent with a concentration grade of 6.2 percent lithium.

Results from recent hydrometallurgical testing for the conversion of spodumene to lithium carbonate have shown an overall recovery rate of up to 88.4 percent with an overall purity of 99.9 percent—surpassing the requirements for battery-grade lithium carbonate. The high purity percentage is due in large part to the low impurity profile of Critical Elements Lithium Corporation's spodumene in combination with the use of a sodium carbonate alkaline process rather than the industry-standard sulfuric acid process. The sodium carbonate alkaline process poses a much lower environmental risk and is much more successful in dissolving impurities at the leaching stage.

Pilot Plant Study Supports Proposed Large-scale Production

In late 2016, Critical Elements Lithium Corporation initiated a bulk sampling program of 50 tons of material from two different zones of the deposit, Rose and Rose South, for subsequent pilot plant testing. The results of the pilot project are expected to be used to decide the plant equipment for large-scale production.

The proposed plant design includes simple grinding and magnetic and gravity separation. Critical Elements Lithium Corporation innovates by introducing circulating fluid beds, common in many other industries, such as the aluminium industry. However, it is rare in lithium extraction, where rotary kilns are preferred. Fluid-bed calcination would cut down on energy use and modestly reduce capital costs, helping the company deliver high-quality lithium at low cost.

In April 2017, Critical Elements Lithium Corporation announced the successful completion of its pilot work with results in spodumene concentrates grading up to 6.56 percent lithium. From Rose, recovery rates averaged 83.4 percent with a concentrate grade of 6.41 percent, and from Rose South, recovery rates averaged 81.9 percent with a concentrate grade of 6.56 percent.

In May 2017, Critical Elements Lithium Corporation announced the subsequent completion of its pilot work for the thermal conversion of alpha to beta spodumene followed by the conversion to battery quality lithium carbonate achieving a high-quality product of 99.9 percent purity at superior recovery rates without the need to apply additional cost-intensive purification steps.

“The high yield we achieved during extraction confirms the low-impurity profile of our ore, which is what allows us to produce battery quality lithium carbonate at a competitive cost, without additional purification steps," Jean-Sébastien Lavallée said.

Mr. Lavallée also noted the pilot work achieved conversion rates for alpha spodumene of 97 percent or better, followed by the conversion to lithium carbonate of battery-grade quality with total recovery rates of 88.4 percent. This included modelling results done by Metso Outotec for the flotation process of spodumene, which returned recovery rates of 92 percent, well above the industry standard of 60 percent to 65 percent.

Further testing at the pilot stage was able to successfully convert spodumene concentrate into a battery-quality lithium hydroxide using a thermal leaching process, providing Critical Elements Lithium Corporation with the flexibility to meet the needs of battery and electric vehicle (EV) producers. Through the testing, Critical Elements Lithium Corporation was able to demonstrate that the pilot plant could achieve extraction rates of 93 percent, which is higher than the market benchmark of 70 percent to 75 percent. The plant's overall recovery from spodumene to battery-grade lithium hydroxide is 80 percent, again higher than the market benchmark of 65 percent.

“These pilot plant results support the low impurity profile of our feed, which facilitates the production of battery-grade lithium carbonate and lithium hydroxide at competitive costs without additional purification steps," said Mr.Lavallée. “Critical Elements Lithium Corporation is very pleased with providing the production of battery-grade lithium hydroxide for the Rose lithium-tantalum project. These test results demonstrate that the Rose lithium-tantalum project can responsibly deliver a range of EV products, including battery-quality lithium carbonate and hydroxide, to varied end-users for varying applications."

Tantalum by-product more economical than potash

Most of the world's supply of lithium comes from deposits with a significant potash co-product. The Rose lithium-tantalum deposit, however, possesses a unique combination of tantalum and lithium mineralization. The tantalum found in the Rose lithium-tantalum deposit gives the project additional by-product diversification and makes it one of the few economic, conflict-free, industrial-scale tantalum sources in the world.

The most recently reported metallurgical results from pilot work for tantalum at the Rose deposit show tantalite magnetic recoveries as high as 69 percent with an average of 64 percent, up significantly from the 50 percent recoveries reported in the 2011 PEA. Recent tantalum mine closures in Canada, Mozambique and Australia are creating a major shortage of supply from which Critical Elements Lithium Corporation might benefit.

Management Team

Jean-Sébastien Lavallée—Chief Executive Officer and Director

Mr. Jean-Sébastien Lavallée, P. Geo., has been the Chief Executive Officer of Critical Elements Lithium Corporation since 2009. From 2009 to 2017, he also served as President. Mr. Lavallée has been active in mining exploration since 1994. He was President and Chief Executive Officer of Quebec Precious Metals Corporation (TSXV:QPM) from 2012 to May 2017, and since June 2017, Mr. Lavallée has been Director and Vice President Exploration in this company. Mr. Lavallée has been on the Board of Directors of the Quebec Mineral Exploration Association “AEMQ" from 2017 to 2019, and he is also working with Consul-Teck Exploration Minière Inc., a Val-d'Or based consulting firm. Most of the firm's mandates involve the generation and execution of projects in remote areas. Mr. Lavallée has acted as a geologist for many companies, including Eloro Resources Ltd., Agnico-Eagle Mines Ltd., Noranda Minerals Inc. and Champion Minerals Inc. Having been responsible for the planning and execution of many exploration programs in recent years, Mr. Lavallée has acquired solid experience in exploration project development.

Dr. Steffen Haber—President

Dr. Haber is the President of Critical Elements Lithium Corporation since January 2017. He was President and Chief Executive Officer of Rockwood Lithium GmbH when Chemetall GmbH was legally split off in 2012. From 2011 to 2012, he was Managing Director of Chemetall and since 2007 President of Chemetall's lithium business. Prior to joining Chemetall GmbH, Dr. Haber worked in different executive positions for Sanofi-Aventis SA and its predecessor companies in France. Dr. Haber completed his doctorate in organic chemistry at the University of Kaiserslautern, Germany, in 1991, and added one year as a Post-Doc at Ecole Polytechnique in Paris. In 1997, Dr. Haber earned his Bachelor of Science in Management from the International School of Management in San Diego in the United States. Dr. Haber is a fellow of the International Directors Program of INSEAD.

Eric Zaunscherb—Chairman

Mr. Eric Zaunscherb is a Canadian geologist with over 32 years and six cycles of experience as a mining analyst. He most recently served as Managing Director, Research – Metals & Mining Analyst at Canaccord Genuity where he co-ordinated the firm's global mining equity research team. He has enjoyed working in Toronto, Vancouver and London, experiencing best practices in Capital Markets at several leading firms and conducting hundreds of exploration, development and mining project site visits globally. He embraces new technologies and industry initiatives in diversity and socially responsible investing, ensuring that local communities receive lasting benefits from mineral resource development.

Marcus Brune—VP Finance

Dr. Brune was Chief Financial Officer of Rockwood Lithium from 2011 until the acquisition by Albemarle in 2015. He left Albemarle in 2016 once the lithium business was successfully integrated into Albemarle's organizational structure. Prior to joining Rockwood Lithium, Dr. Brune had worked in different executive positions in corporate finance and M&A for Rockwood Holdings and its predecessor companies since 2004. Prior to that, he was with McKinsey as a strategy consultant for organizational development and management. Dr. Brune completed his doctorate in material sciences at the Technical University of Dortmund, Germany, after earning a physics degree.

Nathalie Laurin—Secretary and Chief Financial Officer

Mrs. Nathalie Laurin has over 30 years of experience in administration and accounting. The experience gained through working in various roles with increasing responsibilities, primarily in the natural resources sector, has given her a solid mastery of finance and project management. Since 2006, she has acted as corporate secretary and/or chief financial officer for several companies, most notably mineral exploration companies, including Critical Elements Lithium Corporation, Delta Resources Limited, MPV Exploration Inc., Quebec Precious Metals Corporation and BlackRock Metals.

Jean-Raymond Lavallée—Director

Mr. Jean-Raymond Lavallée has more than 30 years of experience in mining exploration, as contractor, consultant and manager for several mining companies, such as Louvem, Soquem, James-Bay Development Corporation, Sullivan Consolidated, Cache Explorations Inc., Parquet Resources, Dumont Nickel Corporation, Westminer Canada Ltd, Baribec Management Inc., Exploration Ojibway Inc. and others. He was also controller for Mines Expert Inc. during the construction of the Doyon Mine. Mr. Lavallee is currently president of Consul-Teck Exploration, a consulting firm of Val-d'Or founded in 2003 that specializes in mining exploration in northern areas.

Marc Simpson—Director

Mr. Marc Simpson is President and Chief Executive Officer of Vanadian Energy Corp. Mr. Simpson has worked in the mining and exploration industry for over 23 years, working for junior, mid-tier and senior mining companies on projects both in Canada and worldwide, including Bema Gold (sold to Kinross for C$3.5 billion in 2007), B2Gold and Echo Bay Mines. Mr. Simpson has been involved in exploration and mining projects from grass roots exploration through to mine development and production. Mr. Simpson obtained his B.Sc. in Geology from the University of Manitoba and is a member of Association of Professional Engineers and Geoscientists of British Columbia and Association of Professional Engineers and Geoscientists of the Province of Manitoba.

Matthew Lauriston Starnes—Director

Mr. Matthew Lauriston Starnes is a lawyer with over 22 years of experience. Mr. Starnes is currently a Peerpoint lawyer with Allen & Overy in Tokyo specializing in mining law. Prior to this, he was legal counsel in Sumitomo Corporation's Mineral Resources Division in Tokyo, Japan. Among other things, he was responsible for legal aspects of Sumitomo's investment in the Sierra Gorda copper project in Chile and was also part of the team for the Ambatovy project in Madagascar. Prior to joining Sumitomo, he also was the General Counsel and Deputy CEO for the Ambatovy project. Mr. Starnes has also practiced as a corporate lawyer with major law firms in Montreal.

Charles B. Main—Director

Mr. Main brings over 30 years of experience in the mining and finance industries, having most recently served as Executive Vice President, Finance and Chief Financial Officer of Yamana Gold Inc. from August 2003 to March 2017. He is currently an Independent Director and Chair of the Audit Committee with Wesdome Gold Mines Ltd. Mr. Main is a Chartered Professional Accountant and began his career with 10 years at PriceWaterhouseCoopers. Mr. Main has also held positions that include Director of Corporate Development with Newmont Capital Corporation, Vice President of Normandy Mining Limited and Outokumpu Mines Ltd. and Vice President, Finance of TVX Gold Inc. Mr. Main holds a Bachelor of Commerce from McGill University.

Andrew Baribeau – Advisor

Mr. Baribeau has been closely involved in the community and territorial development issues, for both the private and public sectors. Throughout his career, he has participated in and led the negotiation and implementation of more than a dozen agreements related to labour relations and resource development. He has a well-established background in community and stakeholder relations, socio-economic impact assessments and economic development. From 2010 until 2015, he led the Cree Nation Government's mining files, after which was tasked with implementing the newly created Department of Commerce and Industry for the Cree Nation Government, where he continued to be responsible for files related to mining and other resource development issues.

Cantor Fitzgerald – Financial Advisor

Cantor Fitzgerald brings significant mining and minerals experience and a global full-service investment banking suite. Founded in 1945, Cantor Fitzgerald is an innovative global financial services firm that has offices and trading desks in all major financial centers throughout the world. Cantor Fitzgerald's Investment Banking Division is a leading provider of advisory and capital markets services to corporate and financial sponsor clients across the globe. Its advisory services involves mergers & acquisitions, divestitures, corporate restructuring, cross-border transactions, takeover defense, strategic partnerships and fairness opinions.

Ani Markova – Independent Director

Markova is a senior executive and an award-winning portfolio manager with more than 15 years of experience investing in the mining and metals industry. She is currently a corporate director with Golden Star Resources and SilverCrest Mining. She is the Chair of the Safety, Environmental and Social Sustainability Committee at SilverCrest and a member of the Corporate Responsibility Committee at Golden Star. She also sits on their Audit and Governance and Compensation committees. She is the Founder and CEO of Investor View Advisory, which is engaged with public companies on Environmental, Social and Governance (ESG) reporting and integration. Mrs. Markova holds an MBA from George Washington University in Washington DC, Chartered Financial Analyst (CFA), Canadian Investment Management (CIM), and Corporate Board International (CDI.D) designations.

Patrick Laperrière – Director of Investor Relations and Corporate Development

Patrick is an investment professional with over twenty years of experience in portfolio management and capital markets. Prior to joining Critical Elements Lithium Corporation, he was responsible for portfolios specializing in natural resources as well as Canadian and American small-cap public shares at la Caisse de dépôt et placement du Québec from 1998 to 2003. He then held roles at major brokerage firms, such as Canaccord, RBC, Industrial Alliance and Macquarie, where he developed close relationships with institutional asset managers. These experiences allowed him to acquire excellent knowledge of company analysis and investment portfolio structure. He graduated from the University of Montreal with a Bachelor's degree in Mathematics and a Certificate in Economics. He is also a CFA charter holder (Chartered Financial Analyst) from the CFA Institute.

Critical Elements Announces a Positive Feasibility Study for the Rose Lithium Project Generating an After-Tax NPV at 8% of US$1.9 B and an After-Tax IRR of 82.4%

Critical Elements Announces a Positive Feasibility Study for the Rose Lithium Project Generating an After-Tax NPV at 8% of US$1.9 B and an After-Tax IRR of 82.4%

Critical Elements Lithium Corporation (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce results of a new Feasibility Study on the Rose Lithium-Tantalum project ("Rose" or the "Project") in Eeyou-Istchee - James Bay, Québec. Unless otherwise stated, all figures are quoted in American dollars ("US$") and are reported on a 100% equity project basis

Highlights

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Approval of the Rehabilitation and Restoration Plan Concerning the Rose Lithium-Tantalum Mining Project

Approval of the Rehabilitation and Restoration Plan Concerning the Rose Lithium-Tantalum Mining Project

Critical Elements Lithium Corporation (the "Company" or "Critical Elements") (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) is pleased to announce that the Québec Minister of Energy and Natural Resources (the "Minister") has approved the rehabilitation and restoration plan concerning the Rose Lithium-Tantalum Mining Project (the "Rose Lithium-Tantalum Project" or the "Project

The approval of the rehabilitation and restoration plan is a prerequisite to the granting of the mining lease that will be necessary to move forward with the Project. The rehabilitation and restoration plan contains, in particular the description of the rehabilitation and restoration work relating to the Project and a detailed estimate of the expected costs to be incurred for completing the work. Now that the rehabilitation and restoration plan is approved, the Corporation must furnish a guarantee covering the anticipated cost of completing the work required under the rehabilitation and restoration plan, in accordance with the schedule of payments established pursuant to applicable laws.

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Critical Elements conclut un placement public par voie de prise ferme de 30 millions de dollars d'unités

Critical Elements conclut un placement public par voie de prise ferme de 30 millions de dollars d'unités

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MONTRÉAL, QC / ACCESSWIRE / 3 décembre 2021 / Corporation Lithium Éléments Critiques (TSXV:CRE)(FSE:F12) (« Critical Elements » ou la « Société ») annonce aujourd'hui la clôture de son financement par prise ferme (le « Placement ») précédemment annoncé. En vertu du Placement, Critical Elements a émis 17 152 250 unités de la Société (les « Unités ») au prix de 1,75 $ l'Unité (le « Prix d'émission ») pour un produit brut de 30 016 437,50 $. Ce total comprend 2 237 250 Unités émises dans le cadre de l'exercice complet de l'option de surallocation accordée aux Preneurs fermes (tels que définis ci-dessous) en vertu du Placement.

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Critical Elements Closes $30 Million Bought Deal Public Offering of Units

Critical Elements Closes $30 Million Bought Deal Public Offering of Units

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Critical Elements Lithium Corporation (TSXV:CRE)(FSE:F12) ("Critical Elements" or the "Corporation") announces that it has closed today its previously announced bought deal financing (the "Offering"). Pursuant to the Offering, Critical Elements issued 17,152,250 units of the Corporation (the "Units") at a price of $1.75 per Unit (the "Offering Price") for gross proceeds of $30,016,437.50. This includes 2,237,250 Units issued in connection with the exercise in full of the over-allotment option granted to the Underwriters (as defined below) under the Offering

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26101250

Critical Elements Announces Bought Deal Public Offering to Raise Gross Proceeds of $26,101,250

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSXV:CRE)(FSE:F12) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation (the "Underwriter") pursuant to which the Underwriter has agreed to purchase on a "bought deal" basis pursuant to a short form prospectus for a total of 14,915,000 units (the "Units") of the Corporation at a price of C$1.75 per Unit (the "Offering Price") for gross proceeds of C$26,101,250 (the "Underwritten Offering"). Each Unit shall consist of one common share of the Corporation and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant shall be exercisable for one common share of the Corporation for a period of 24 months from the Closing Date (as herein defined) at an exercise price of C$2.50

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Noram Receives Results for CVZ-81 with High-Grade Long Intercept of 330ft with Weighted Average 1169 ppm Li and Li High of 1810 ppm

Noram Receives Results for CVZ-81 with High-Grade Long Intercept of 330ft with Weighted Average 1169 ppm Li and Li High of 1810 ppm

S andy MacDougall, CEO of Noram Lithium Corp. (" Noram " or the " Company ") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-81 (PH-03) and release of the final assay results. The Company completed core hole CVZ-81 at a depth of 451.5 feet (137.6 m). Sampling for assay began at 55 ft (16.8 m) and continued to the bottom of the hole, an interval thickness of 416.5 ft (126.9 m) was intersected. The hole ended in mineralization and the weighted average lithium values present were as follows

Noram Lithium Corp., Thursday, June 30, 2022, Press release picture

CVZ-81 was the last hole drilled in Noram's Phase VI drilling program and had better than expected results, as did most of the holes in this in-fill drilling program. Now that the final assays are in, efforts are being focused on updating the geological/lithium grade models to be used in the upcoming PFS. The grades and thicknesses of mineralization seen in the Phase VI holes are anticipated to substantially improve the outlook for the Zeus deposit and upgrade approximately 175 million tonnes of the deposit from the inferred resource category to indicated resource." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.

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Jourdan Announces $2,000,000 Private Placement Financing

Jourdan Announces $2,000,000 Private Placement Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Jourdan Resources Inc. (TSX-V: JOR) (" Jourdan " or the " Company ") announces that it intends to complete a best efforts non-brokered private placement financing of (i) up to 12,500,000 units (each, a " Unit ") at a price of $0.08 per Unit for gross proceeds of up to $1,000,000, and (ii) up to 10,000,000 common shares of the Company issued on a flow-through basis (each, a " Flow-Through Share ") at a price of $0.10 per Flow-Through Share for gross proceeds of up to an additional $1,000,000 (collectively, the " Offering "). Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a " Warrant "). Each Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.10 for a period of 24 months from issuance.

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Fortune Minerals Announces Results of Annual General Meeting of Shareholders

Fortune Minerals Announces Results of Annual General Meeting of Shareholders

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) reports that the nominees listed in the management information circular for the 2022 Annual General Meeting of shareholders held on June 28, 2022 (the "Meeting") were elected as directors of Fortune. Detailed results of the vote based on proxies received are set out below:

Nominee

Shareholders also approved the appointment of Fortune's auditors.

About Fortune Minerals:

Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper Critical Minerals project in the NWT and Alberta. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

Follow Fortune Minerals:

Click here to subscribe to Fortune's email list.

Click here to follow Fortune on LinkedIn.

@FortuneMineral on Twitter.

Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

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TinOne Reports First Results from Drilling its Great Pyramid Project, Tasmania, Australia

TinOne Reports First Results from Drilling its Great Pyramid Project, Tasmania, Australia

TinOne Resources Inc. (TSX-V: TORC) (" TinOne " or the " Company ") is pleased to provide the first drill results from its Great Pyramid Tin (Sn) project located in the tier one mining jurisdiction of Tasmania, Australia .

Highlights:
  • All holes returned Tin-bearing intersections and provide support for historical drill data
  • Mineralised zones shown to extend beneath historical resource
  • Highly encouraging intersections include:
    • 22GPRC003 returned 0.25% Sn over 39 metres
    • 22GPRC005 returned 0.29% Sn over 23 metres
    • 22GPRC006 returned 0.19% Sn over 30 metres
    • 22GPRC007 returned 0.30% Sn over 21 metres

Results have been received for 764 metres of the Company's ongoing 5,500 metre drilling program at its Great Pyramid project in Tasmania, Australia . These results represent complete results for seven Reverse Circulation (RC) drill holes and partial results for one additional RC hole.  Assays are being fast tracked and average laboratory turnaround to-date has been 23 days.

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Foremost Lithium Expands Presence in Snow Lake Region with Option Agreement to Acquire the Peg North Claims

Foremost Lithium Expands Presence in Snow Lake Region with Option Agreement to Acquire the Peg North Claims

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE:F0R0) (WKN: A3DCC8) (www.foremostlithium.com) ("Foremost Lithium", "Foremost" or the "Company") is pleased to announce that it has entered in to an agreement (the "Option Agreement") with Strider Resources Ltd. ("Strider") pursuant to which the Company has the right to acquire a 100% interest in the PEG NORTH CLAIMS located in the historic Snow Lake mining district in Manitoba (the "Peg North Claims"). The Peg North Claims consist of 28 claims hosting five known pegmatite dykes, [Cerny, et. al.1981] [1] and captures the northern extension of the Crowduck Bay Fault and surrounding area, known for its lithium-enriched pegmatite dyke clusters. The acquisition pursuant to the Option Agreement will significantly expand the Company's Snow Lake lithium holdings by 16,697 acres (6,757 hectares) to an amalgamated 43,031 acres (17,414 hectares) in the prospective Snow Lake pegmatite fields. The location of the newly acquired Peg North Claims is illustrated in Figure 1 below. In connection with this important acquisition, the Company wishes to take this opportunity to provide a comprehensive update and overview of the status of each of the properties comprising the Company's impressive package of lithium and precious metals assets.

John Gravelle, President & CEO of Foremost Lithium, states: "We now hold and/or have the right to acquire an aggregate of over 43,000 acres, (17,400+ hectares) of what Foremost considers to be tier-one lithium exploration properties in Snow Lake, Manitoba. This substantial increase in hectares will add to Foremost's previously disclosed inventory of 30 high-quality drill targets to explore and develop. The electrification movement is amongst us and the increased demand for lithium will be here for decades to come. This strategic option of the Peg North Claims continues to demonstrate Foremost's commitment to deliver long-term shareholder value."

Under the terms of the Option Agreement, Foremost has the right to acquire a 100% interest in the Peg North Claims, subject only to a 2% net smelter return royalty granted to Strider (the "NSR") (the "First Option") in consideration for making aggregate cash payments of $750,000, issuing Strider common shares having an aggregate value of $750,000, and incurring an aggregate of $3,000,000 in exploration expenditures on the Peg North Claims on or before the fifth anniversary of the effective date of the Option Agreement. The Common shares will be issued at a deemed price equal to the greater of (a) the average closing price of the Company's shares on the CSE for the last 30 trading days prior to the date such shares are issued; and (b) the minimum price permitted under the policies of the stock exchange.

In connection with signing the Option Agreement, the Company will make the initial option payment to Strider of $100,000 in cash and issue Strider an aggregate of 526,316 common shares at a price of $0.19 per share.

Once the First Option has been fully exercised, the Company may, at any time prior to commencement of commercial production on the Peg North Claims, exercise a second option to acquire one half (1/2) of the NSR (1%) for a cash payment of $1,500,000.

[1] P. Cerny, D.L. Trueman, D.V. Ziehlke, B.E. Goad, and B.J. Paul, "THE CAT LAKE-WINNIPEG RIVER AND THE WESKUSKO LAKE PEGMATITE FIELDS, MANITOBA." Manitoba Department of Energy and Mines, Mineral Resources Division Economic Geology Report ER80-1. 1981

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Figure 1 - Foremost Lithium Snow Lake District Claim Map showing the Jean Lake, Zoro, GRC and Peg North Claims assets. Foremost now controls an amalgamated 17,414 hectares (43,031 acres) in the highly prospective Snow Lake pegmatite fields, including the entire northern extension of the Crowduck Bay Fault

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Foremost's initial exploration plans for these claims include a LiDAR survey (to discover never-before-seen outcrops for prospecting), an airborne high-definition magnetic survey, and follow up Mobile Metal Ions soil geochemistry ground proofing of high priority magnetic anomalies. This work will be carried out to define quality drill targets.

John Gravelle, President & CEO of Foremost Lithium, continues: "Foremost's acquisition of the Peg North Claims was a priority due to its excellent exploration potential based on the northeast extension of the Crowduck Bay and related faults that host the Thompson Brothers lithium mineralized pegmatite dykes. The mapped presence of lithium bearing pegmatites east and southeast of the Peg North Claims make this property prospective for lithium bearing pegmatite dykes." Mr. Gravelle further continues: "I'd like to personally express my most sincere gratitude to Dr. Mark Fedikow, Foremost's Vice President of Exploration, and Dan Ziehlke of Strider Resources for their work to complete this transaction."

Technical information contained in this press release, regarding the Peg North Claims, the Zoro Lithium Project, the Jean Lake Lithium and Gold Property, the Grass River Property and the Hidden Lake Lithium Property has been approved by the Company's VP of Exploration, Dr. Mark Fedikow, P.Eng., P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Dr. Fedikow holds Honours B.Sc. and M.Sc. degrees in geology, geophysics and geochemistry from the University of Windsor, Canada, and a Ph.D. in exploration geochemistry from the School of Applied Geology, University of New South Wales in Sydney, Australia.

The technical content of this news release regarding The Winston Project has been approved by Dr. Michael Feinstein, CPG, who is a Qualified Person as defined by NI 43-101.

DESCRIPTION AND STATUS OF FOREMOST'S PROPERTIES

Zoro Lithium Project, Manitoba Canada

The Zoro Lithium Project is located at the east end of the 200 km long and 70 km wide Paleoproterozoic Flin Flon-Snow Lake Greenstone Belt approximately 20 km east of the historic mining town of Snow Lake (Figures 1 and 2). The project consists of 16 claims with a total of 3,603 hectares including the 100%-owned Zoro1 claim, that hosts the primary source of lithium on the property in Dyke 1, and the Green Bay and Manitoba option properties. Foremost holds the rights to 100% of the lithium resources on these properties. Nearby infrastructure includes a power line servicing the town of Snow Lake approximately 5 km south of the property, the Snow Lake airport, and an all-weather gravel road 11 km west of the property, as well as a rail link located at Wekusko Siding, 20 km to the south of Herb Lake Landing which is 30 km south of the property.

Geological Setting1

The Zoro Lithium Project is underlain by ocean floor volcanic rocks of the Roberts Lake allochthon and lesser amounts of Missi Group sedimentary rocks. The Ocean Floor rocks comprise mafic volcanic and related intrusions and the Missi Group consists of sandstone, siltstone, mudstone, and quartzo-feldspathic gneiss and migmatite. The Ocean Floor mafic volcanic rocks adjacent to the pegmatite dykes consist of a fine to medium-grained strongly foliated dark green lithology. These andesitic to basaltic lithologies are locally interbedded with volcaniclastic sedimentary rocks and all are intruded by a quartz-phyric granite intrusion (Figure 3).

Pegmatite dykes generally strike northwest to north-northwest with steep dips and crosscut the regional foliation at a low angle. The dykes tend to be concentric in internal structure and the grain size of the constituent minerals (potassium feldspar, quartz, spodumene and black tourmaline) coarsens towards the center of the dykes. This pattern may be locally interrupted by patches of saccharoidal albite, large muscovite aggregates and coarse albite stringers with garnet and beryl. Spodumene is concentrated in the cores of the dykes. Some of the dykes have been split into sub-parallel veins by post-emplacement tectonic activity.

Approach to Exploration

Integrated exploration on the project consists of soil and rock geochemical surveys, a drone magnetic survey, prospecting, and mapping all followed-up with diamond drilling. This has led to the discovery of 16 previously unknown spodumene-bearing pegmatite dykes and the delineation of multiple lithium targets. To date, 70 drill holes for 9,915 m have been completed on the property.

Source of Lithium

The principal source of lithium on the property is spodumene-bearing Dyke 1 with an inferred resource of 1,074,567 tonnes at 0.91% Li2O, 182 ppm Be, 198 ppm Cs, 51 ppm Ga, 1212 Rb, and 43 ppm Ta at a 0.3 percent Li2O cut-off .1 Please refer to the Company's NI 43-101 Technical Report titled "NI 43-101 Technical Report on the Zoro Lithium Project, Snow Lake, Manitoba" dated effective July 6, 2018, prepared by Dr. Mark Fedikow, P. Geo, and Scott Zelligan P. Geo. Tantalum mineralization has also been intersected in Dyke 1 with an assay of 0.113% Ta2O5 (cf. November 1, 2017 news release). Elsewhere on the property assays of 2.42% to 7.28% Li2O have been documented from spodumene-bearing pegmatite Dyke 5 on the property3 (cf. Green Bay Mining and Exploration Ltd. Corporation File).

Metallurgy

Preliminary metallurgical testing by SGS Canada Inc. of a spodumene concentrate from Dyke 1 indicates that a high-grade (6% Li2O) lithium concentrate can be produced from Dyke 1 mineralization using industry standard methods.2

Recent Exploration

Lithium

In 2022, a ten-hole 1,509-meter drill program was undertaken to test Mobile Metal Ion ("MMI") soil geochemical anomalies and assess the deeper levels of high-grade spodumene pegmatite Dyke 8 discovered in 2018.

The sixteenth spodumene-bearing pegmatite dyke on the Zoro property was discovered during this program. It was intersected by two drill holes (c.f. April 26, 2022, news release). DDH FM22-70 drilled at -50 degrees inclination intersected two pegmatite intercepts totaling 4.9 meters with up to 15% light green spodumene crystal aggregates. A second hole, DDHFM22-70B was drilled at a steeper inclination of -65 degrees to undercut the first pegmatite intersection. This hole intersected a five-meter intercept of the same spodumene mineralized pegmatite as hole FM22-70. The host rock to these pegmatites is a fine-grained foliated basalt. The location of Dyke 16 in relation to all other pegmatite dykes intersected on the Zoro property is illustrated in Figure 4.

Dyke 8

High-grade spodumene pegmatite Dyke 8 was discovered on the Zoro property in 2018 by the drill testing of a Mobile Metal Ions soil geochemical anomaly. Drill hole Far18-35 testing the MMI anomaly intersected 36.5 m of spodumene-bearing pegmatite. Assay results from hole FAR18-35 included three separate intercepts of high-grade lithium including 12.3 m of 1.1% Li2O, 4.4 m of 1.2% Li2O, and 2.2 m of 1.5% Li2O (cf. April 26, 2022, news release).

In 2022, DDHFM22-71 was drilled at -65 degrees to undercut the 2018 pegmatite intersections. A 4.5-meter spodumene-bearing pegmatite was intersected between 70.45 and 75.89 meters before being truncated by a fault. This intercept is 37 meters below the previous 2018 drill intercepted Dyke 8 spodumene mineralization. A further pegmatite was intersected below the fault between 84.4 and 86.65 meters.

To date, Dyke 8 has drill indicated dimensions of 120 m in length, 5-15 m in width and has been drilled to a depth of 157 m (cf. April 26, 2022, news release).

Gold

Numerous intersections of core intersected mineralized zones characterized by disseminated and veinlet arsenopyrite with lesser chalcopyrite, sphalerite, and pyrite. Mineralized sections were intersected in silicified and variably altered dacite and basalt volcanic rocks with or without quartz veins.

Assay Samples

A total of 19 core samples of pegmatite have been collected from drill core. Fourteen samples were collected from pegmatite with visible spodumene, and five samples were collected from pegmatite without visible spodumene. Nine samples were collected from lithologies other than pegmatite. Fifty-seven samples were collected from core mineralized with disseminated and stringer arsenopyrite and lesser pyrite, chalcopyrite, and sphalerite for gold assay.

After logging and photographic recording, all core samples were sawn in half and one half of the core has been shipped to Activation Laboratories (Ancaster, Ontario). Remaining drill core is stored in a secure facility in Snow Lake.

Pegmatite samples will be analysed using UT-7 lithium and related element analysis after total dissolution by sodium pyrophosphate with finish by ICP-MS. Samples for gold assay were undertaken on 30-gram samples with fire assay and finish by Instrumental Neutron Activation.

Results for all samples are pending but will be reported in a news release and on the website once available.

Future Exploration

Exploration on the property is ongoing with prospecting, mapping and geochemical surveys following up on a recently completed (June 2022) drone magnetic survey. The drone survey was completed by EarthEx Geophysical Solutions Inc. Interpreted results from the drone magnetic survey will provide the focus for ongoing exploration. A drone-assisted LiDAR survey is planned for the summer of 2022.

1: Fedikow, M.A.F. and Zelligan, S. 2018. NI 43-101 Technical report on the Zoro Lithium Project, Snow Lake, Manitoba; 188p.

2: Grammatikopoulos, T., Aghamirian, M., Fedikow, M.A.F. and Mayo, T. 2020 : Mineralogical characterization and preliminary beneficiation of the Zoro Lithium Project, Manitoba, Canada: HTTPS://DOI.ORG/10.1007/S42461-020-00299-2.

3: Green Bay Mining and Exploration Ltd. Corporation File: 1956: Manitoba Mining Recorder, Corporate and Assessment Files.

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Figure 1. Location map for the Zoro Lithium Project.

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Figure 2: Regional geology map of the Flin Flon-Snow Lake Greenstone Belt and the location of the Zoro Lithium Project.

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Figure 3. Geological setting of the Zoro Lithium Project with claim boundaries.

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Figure 4. Location of Dyke 16 in relation to previously discovered pegmatite dykes on the Zoro Lithium Project.

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Jean Lake Lithium and Gold Property, Manitoba Canada

The five claim, 1002-hectare Jean Lake Lithium and Gold Property is situated in west-central Manitoba, 15 kilometers east of the historic town of Snow Lake. It is hosted by the Early Proterozoic (1.832 Ga) Rex Lake Plutonic Complex which is a circular intrusion 8 km in diameter. The property hosts the historic west-northwest striking Beryl lithium pegmatites rediscovered in August of 2021 in blasted trenches beneath 80 years of organic deadfall and glacial sediment. The 270-degree trending dykes are characterized by coarse grained light green spodumene crystals in a matrix of potassium feldspar, quartz, and muscovite. The host rocks are coarsely porphyritic gabbro. The property also hosts the shear zone-hosted Sparky Gold Occurrence discovered in 1918. The gold mineralization is associated with disseminated and near-solid fracture fillings consisting of fine-grained to blocky arsenopyrite with lesser pyrite and chalcopyrite hosted within sheared and silicified massive basalt and gabbro.

The location of the Beryl Pegmatites ("B1" and "B2") is illustrated on a Jean Lake claim map in Figure 1. B3 is a pegmatite without visible spodumene.

Recent Exploration

Lithium

Five representative rock chip samples of spodumene-bearing mineralization were collected in August, 2021 from blast material in two trenched locations of the Beryl Pegmatites. Two of the samples were apple green, coarse grained spodumene (Far21-1 and -2)) and three samples were from straw-coloured, finer grained spodumene (Far21-3,4 and 5)).

Samples were shipped to Activation Laboratories in Ancaster (Ontario) for analysis, applying the UT-7 method which uses a total dissolution of the sample by sodium peroxide fusion and ICP-MS finish. This analytical approach is the standard analytical technique employed by the Company on its Zoro and Jean Lake lithium projects for the analysis of pegmatite.

Results indicate all samples returned high-grade lithium contents regardless of the textural characteristics of the spodumene (Table 1).

Table 1. Lithium analyses for two styles of spodumene mineralization at the Beryl Pegmatite,
Jean Lake Property, Snow Lake area, Manitoba.

ElementLi20%Li2C03%



Beryl Pegmatite B1:

FAR 21L-13.899.63
FAR 21L-25.1712.78



Beryl Pegmatite B2:

FAR 21L-34.7411.71
FAR 21L-44.0910.11
FAR 21L-53.819.42

Gold

Fifteen representative rock chip samples from the Sparky Occurrence returned assay results with maximum contents of 20.9 g/t gold (Table 2). All but one sample exceeded 1 g/t gold. Grab samples representative of mineralization exposed in outcrop and in pits were collected from pervasively silicified wall rock containing brecciated and mineralized quartz veins. The deformation observed in the rocks sampled is attributed to faults cutting the eastern portion of the Rex Lake Pluton which is bounded on the east by the crustal scale Crowduck Bay Fault.

Gold assays are determined by fire assay using a 30-gram sample followed by an instrumental neutron activation finish.

Table 2. Summary of gold assay results, Jean Lake Property.

SampleUTM EastUTM NorthGrams Per Ton/ GoldG/T Gold

Datum: NAD83 Zone 14


FAR21G-145164760762011.61.66
FAR21G-24516476076201138 ppb0.138
FAR 21G-3452451607640620.920.9
FAR 21G-445245160764068.68.66
FAR 21G-5a45240960763511.91.93
FAR 21G-5b45240960763511.81.84
FAR 21G-6a452377607624611.211.2
FAR 21G-6b45237760762466.46.42
FAR 21G-745235660761712.02
FAR 21G-8a45241760763777.67.63
FAR 21G-8b45241760763778.68.66
FAR 21G-945236660761054.04.05
FAR 21G-1045239560764071.31.38
FAR 21G-1145235660761711.01
FAR 21G-1245244160763961.21.29

Laboratory contamination was not detected in the analysis of the samples based on the replicate analyses of the method blank. The analysis of both internal standards and International Reference Materials indicates the analyses are accurate and reproducible.

Ongoing exploration consisting of prospecting and geochemical surveys is planned to commence in June, 2022 utilizing the results from recently completed (April, 2022) drone-assisted magnetic surveys. The drone surveys were completed by EarthEx Geophysical Solutions Inc. Drone-assisted LiDAR surveys are planned for the summer of 2022.

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Figure 1. Location of the Beryl Pegmatites (B1 and B2). B3 is a barren, non-spodumene-bearing pegmatite that is on trend (270o) with B1 and B2.

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Grass River Claims Property (GRC) Manitoba, Canada

The recently acquired Grass River Claims Property consists of 27 claims totaling 14,873 acres located 30 km east of the historic town of Snow Lake and 6.5 kilometers east of the Company's Zoro Lithium Project. The GRC hosts multiple pegmatites exposed in outcrop and 7 drill-indicated spodumene-bearing pegmatite dykes.

The bulk of mineral exploration in the Snow Lake area was undertaken in the late 1950's and was primarily designed to assess the general area for base metal massive sulphide mineralization. Ground geophysical surveys (electromagnetics and magnetics) were the primary tool coupled with boots on the ground prospecting. Many holes were drilled to assess base metal environments. During the drilling of geophysical targets, several spodumene pegmatites were intersected1.

A total of 10 pegmatites are exposed in surface outcrop on the property and together with the 7 drill-indicated spodumene-bearing dykes (Figure 1) will be part of the exploration focus in 2022. Ongoing data interpretation of results from a drone-assisted magnetic survey completed by EarthEx Geophysical Solutions Inc. in June of 2022 will guide follow-up prospecting and geochemical surveys expected to commence in July of 2022. These surveys will be supplemented with a drone-assisted LiDAR survey planned for July 2022. A drill program is planned for later in the year

Results of the magnetic and LIDAR surveys will be released in a news release and on the Company's website when complete.

1: Cancelled Assessment File 90611, Manitoba Mining Recorder, Manitoba Natural Resources and Northern Development.

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Figure 1. Compilation of pegmatites exposed in surface outcrop1 and drill intersected spodumene-bearing pegmatite2 on the Grass River Lithium Property, Snow Lake area, Manitoba.

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Data Sources

1: Bailes, A.H. 1985: Geology of the Saw Lake area, Geological Report GR83-2, 47 pages and Map GR83-2-1.

2: Cancelled Assessment File 90611, Manitoba Mining Recorder, Manitoba Natural Resources and Northern Development.

The Hidden Lake Lithium Property Northwest Territories, Canada

The Hidden Lake Lithium Property is located 45 km east of Yellowknife, NWT (Figure 1) and consists of 5 contiguous claims, totaling 1,659.29 hectares (Figure 2). The property is just north of Highway 4 (Ingraham Trail) providing excellent access. The exploration target on the property is lithium-bearing spodumene pegmatite dykes which are visible from aerial imagery as elongated white linear features visible through vegetation and soil due to their high reflectance.

Geological Setting

The Hidden Lake Property lies within the southern Archean Slave Craton of the Canadian Shield which is comprised of Mesoarchean gneissic basement covered by the Neoarchean Yellowknife Supergroup supracrustal assemblage. The Yellowknife Supergroup consists of a thick sequence of metavolcanic rock and metasedimentary rock which is dominated by a regionally homogenous sequence of interbedded greywacke-mudstone turbidites of the multiply deformed Burwash Formation east of Yellowknife (Figure 3). This region was subsequently intruded by the Prosperous suite of S-type biotite muscovite leucogranite plutons which are spatially associated with granitic pegmatites.

Granitic Pegmatites

These pegmatites intrude both the surrounding Burwash Formation and the granitic plutons and form the Yellowknife Pegmatite Field. Depending on their proximity to the granite intrusion, the pegmatite complexes commonly show regional zoning in their mineralization and can be rare element bearing. Lithium enrichment occurs in an outer zone typically 2 to 3 kms from the intrusion accompanied by Be, Ta, Nb and Ca enrichment (Sinclair, 1996).

The lithium bearing pegmatites that are targeted for exploration are white to light grey, coarse to very coarse-grained, and comprised of K-feldspar (microcline), plagioclase (albite), quartz, muscovite and spodumene with trace amounts of apatite, biotite, tourmaline, columbite and montebrasite. The dykes consist of long, discontinuous bodies oriented in an NNE-SSW direction (between 010° and 020°) and range from 3 to 11 m wide and 300 to 800 m long. The bodies are zoned and spodumene content typically ranges from 10% to 20% by volume, with up to 35% locally within the center of the bodies. Spodumene crystals were green to light greenish grey, up to 60 cm long and were typically oriented parallel to the dyke boundaries along the edges and perpendicular to the boundaries in the center of the dykes (Sinclair, 1996).

Historic Work

Initial prospecting of the Yellowknife district originated when rare-element pegmatites were first discovered in the 1930's, followed by the discovery of lithium-bearing pegmatites in the 1950's. The most significant historic exploration carried out on the property has been undertaken on the D12 pegmatite that was first discovered by the Geological Survey of Canada in1947. It is described as a 1,000 ft. long and 30 ft. wide, spodumene-bearing pegmatite dyke. It has since been subjected to trenching and detailed mapping1. In 1978, Canadian Superior Exploration Ltd. mapped and sampled several spodumene-bearing dykes on and surrounding the current Property, the largest of which was D122. Chip samples collected from the historic trenches at D12 yielded 1.37% to 3.01% Li2O (NWT Geoscience Detailed Showing Report ID 085INW0042).

2016 Exploration

Dahrouge Geological Consulting Ltd. (Dahrouge) undertook exploration work in 2016 and 2017 on behalf of 92 Resources Corporation3. This work consisted of prospecting, grab sampling, detailed mapping, and channel sampling. Only the results of the 2016 program are relevant to the Hidden Lake Property.

Prospecting in May of 2016 included outcrop examination and the collection of 5 grab samples from the D12 dyke. The samples were sealed in labelled bags and shipped to Activation Labs Ltd. (ActLabs), in Kamloops, B.C., where they were analyzed using the sodium peroxide fusion ICP-OES + ICP-MS Ultratrace 7 package (UT-7). Those samples with a Li value above the detection limit of 10,000 ppm underwent the sodium peroxide fusion ICP-OES lithium ore analysis package (Code 8 Li Ore).

Subsequently a channel sampling program was completed between August 16th and September 7th, 2016. A total of 308 channel samples were collected from 61 channels cut across dykes D12, HL1, HL3 and HL4 Table 1.

Table 1: 2016 channel sampling details.

Pegmatite Length (m)NumberNumber


of Channelsof Samples
D123501585
HL16901665
HL38001589
HL44001569

Results

In 2016 a total of 5 grab samples and 308 channel samples were collected during the two Hidden Lake field programs carried out in 2016. Five grab samples from dyke D12 assayed 1.63 - 3.06% Li2O. Channel sample results were presented as weighted averages for individual channels for each dyke. The thickest section of D12 was 11.58 m wide and returned a weighted average of 1.53% Li2O and included a 9.02 m section of 1.90% Li2O. A channel from the HL1 dyke assayed 1.26% Li2O over 8.72 m and an 8.78 m channel from the HL3 dyke assayed 1.58% Li2O. A 5.78 m channel from HL4 assayed the highest Li2O of 1.71% over 5.78 m. Significant grades of tantalum were recorded with an average of 54 pm Ta2O5 for the four dykes. The maximum value was 402 ppm.

2018 Exploration

Dahrouge also undertook an exploration program in 2018 on behalf of Foremost Resources4. The purpose of the drilling was to test the vertical continuity of spodumene mineralization in the subsurface. This work took place between May 22nd and June 10th, 2018 and consisted of 1079.37 m of core drilled in ten drill holes on pegmatite dykes HL-001 through HL-003 and D-12 (Figure 4). A total of 197 core samples were collected and submitted for assay at SGS Mineral Services Lakefield facility. Intersected pegmatites were typically composed of quartz, plagioclase, feldspar, muscovite, spodumene and accessory minerals consisting of tourmaline and epidote.

Drill hole specific information including core samples collected for assay is provided in Table 2.

Table 2: Pegmatite intersection and sample collection summary.

Hole IDTargetEastingNorthingOverburden Depth (m)EOH Depth (m)Pegmatite Intersection Sum (m)Number of Samples
HL18-001D-1237493569369710.00109.0015.1034
HL18-002D-1237502369370904.23101.3410.9826
HL18-003D-1237489369368995.16108.9411.1219
HL18-004HL-137374869369785.25106.197.9519
HL18-005HL-137336169373896.45108.823.7916
HL18-006HL-437344069375240.30108.947.7216
HL18-007HL-437340769374650.10109.005.9813
HL18-008HL-437336169373890.00108.945.6212
HL18-009HL-337336469370970.70109.208.6820
HL18-010HL-337330669370111.05109.008.9722




Total:10793.37 m171.82 m197

Results

Pegmatites intersected in this drill program were marked by fine to very coarse grained spodumene crystals varying from 7-10 modal percent in dyke HL3 to 15-25% modal percent spodumene crystals in dyke D12.

All spodumene-bearing dykes tested during the 2018 drill program intersected high-grade 1.0-2.0% Li2O over individual widths that varied from 2.0 to 9.2 m or total widths of between 3.79 m and 15.10 m (Table 3; cf. September 10, 2018, news release). The assay results for 2018 drill core confirm the presence of high grade spodumene-bearing pegmatite dykes on the property and reflect the historic assay results from 2016 surface channel samples.

Table 3. Summary of assay results, 2018 Hidden Lake drill program.

BHIDLi2O (%) Ta (ppm)Cs (ppm)Nb (ppm)Length (m)
Dyke D-12: HL18-0011.533.440.648.79.0
Dyke D-12: HL18-0021.734.033.245.35.0
Dyke D-12: HL18-0031.632.447.244.49.2
Dyke HL-1: HL18-0041.624.429.029.07.0
Dyke HL-1: HL18-0051.241.833.145.82.0
Dyke HL-3: HL18-0061.421.546.225.67.0
Dyke HL-3: HL18-0072.043.632.952.85.2
Dyke HL-3: HL18-0081.342.540.954.63.8
Dyke HL-2: HL18-0091.57.828.612.02.0
Dyke HL-2: HL18-0101.015.131.417.27.0

Assay

Pegmatite intersections in the drill core were sawn in half with one half of the sample collected for assay. The samples were shipped to Activation Laboratories (Ancaster, Ontario) digested with a sodium peroxide fusion followed by ICP-OES/MS analysis. Assay results are summarized in Table 3.

Future Exploration

Future exploration is planned to expand the lithium resource at Hidden Lake with additional diamond drilling based on an integrated exploration plan using state-of-the-art drone assisted geophysical surveys and rock and soil geochemical techniques.

1: Mulligan, R. 1975. Geology of Canadian Lithium Deposits. Geological Survey of Canada, Economic Geology Report No. 21

2: Morrison, M. 1978. Report on a trenching programme and geological survey of the LU3, 5, 8, 9 and 10 mineral claims, Yellowknife area. NWT assessment report 080847.

3: Goreham, J. 2018: 2016 and 2017 geological and geochemical exploration on the Hidden Lake property, Yellowknife, N.W.T. report for property owner 92 Resources Corp., 29p.

4: Wood, A. 2018: Summary memo for the 2018 Hidden Lake P1 drill program, Yellowknife area, N.W.T., 12p.

Sinclair, W.D., 1996. Granitic Pegmatites; in Geology of Canadian Mineral Deposit Types, (ed.) O.R. Eckstrand, W.D. Sinclair and R.I Thorpe. Geological Survey of Canada, Geology of Canada. No. 8 p. 503-512.

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Figure 1. Location of the Hidden Lake Lithium Property, Yellowknife area, N.W.T.

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Figure 2. Current claim map, Hidden Lake Property, N.W.T.

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Figure 3. Geological setting of the Hidden Lake Lithium Property.

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Figure 4. Summary of drill hole locations and targets, Hidden Lake Lithium Property, N.W.T.

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WINSTON PROPERTY NEW MEXICO, UNITED STATES

Dr. Michael Feinstein, CPG, QP, has visited the Winston Project area on ten separate occasions since October 2020. He conducted confirmatory sampling of the known historic mines, as well sampling the prominent structural trends along strike.

All samples were collected under the direct supervision of Dr. Michael Feinstein, and securely transported to the Tucson facility of ALS Laboratories for analysis. Ore characterization samples from these three mines returned peak values of: 66.5 g/t gold with 2,940 g/t silver from Little Granite, 26.8 g/t gold and 940 g/t silver from Ivanhoe, and 44.9 g/t gold and 517 g/t silver from Emporia.

This sampling confirmed the occurrence of high-grade material at all three of the historic mines, but also in several locations away from these areas. Foremost expanded its footprint, increasing the property from 415 acres to 2,980 acres, and increased its mineral rights from 14 to 150 BLM Lode Mining Claims. Previously, no modern exploration efforts have systemically assessed the northern portion of the Chloride District.

Winston Project

*Highest Grade Sample From Each Mine

MineAu_ppmAg_ppm
Little Granite66.52,940
Ivanhoe26.8940
Emporio44.9517
Prospecting Best41.54,610

Project Highlights

The project has contiguous landholdings totaling approximately 150 claims covering almost 3,000 acres. Claims are targeted along footprint of mineralization extending for more than 8 km of strike.

Historic drilling in early 1980s suggests potential for high-grade ore shoots within larger mineralized envelopes. The Chloride District saw a rush of miners and prospectors in the 1860s-1890s, a period of renewed mining activity in the 1980s, and has been largely unexplored by modern methods.

Potential for District-Scale discovery in a Precious Metal Endowed Low-Sulphidation Epithermal Vein System.

Ground geological mapping and surveying has utilized high resolution satellite imagery and LiDAR (laser-generated infrared light beams) to construct a detailed digital model of the area. This 3D GIS will be used for all drill targeting and project planning. Special attention will be given to maintaining a high level of vertical accuracy due to the local topography.

Exceptional results from property-wide confirmatory sampling completed in 2021 include:
-Measured width Highlights:
3.35 g/t Au with 245 g/t Ag from a 0.3m channel sample inside the Little Granite Decline.
1.97 g/t Au with 232 g/t Ag from a 0.3m channel sample across JAP vein at LG mine.
29.2 g/t Au with 462 g/t Ag from a 0.6m continuous chip sample in north zone.
3.2 g/t Au with 34 g/t Ag from a 1.0m continuous chip sample in north zone.
0.75 g/t Au with 489 g/t Ag from a 0.3m continuous chip sample in north zone.

-Prospecting Highlights:
Sample 1671079 collected at a prospect pit in recently staked ground returned 41.5 g/t Au with 4,610.0 g/t Ag.
Samples 1671021, 1671024, 1671027 were collected from the same vein trend over 300m of strike
#1671021 returned 20.6 g/t Au with 21.0 g/t Ag.
#1671024 returned 12.3 g/t Au with 381.0 g/t Ag.
#1671027 returned 5.7 g/t Au with 254.0 g/t Ag.

For the 155 samples across the project, gold values range from Below Detection (BD;

Geological Setting of the Winston Project

The Winston Project, situated in the historic Black Range Mining District of southwestern New Mexico, covers 36 square kilometers of the northern portion of the Chloride District. High-grade deposits of silver and gold were discovered in 1880 and the area was a major producer until the 1893 silver price crash. Little production or modern exploration has occurred since.

The mineralization is of the well-documented Low-Sulphidation Epithermal type. Deposits of this style are emplaced throughout the Cordillera of North and South America and elsewhere in similar tectonic settings. This style of mineralization is known world-wide and hosts some of the highest-grade gold/silver mines, such as: Hishikari in Japan, Fruta del Norte in Ecuador and Round Mountain in Nevada.

On the Winston Property, the primary structure is the Paymaster Fault which is readily traced both on the ground and by satellite imagery. Locally, the mineralized veins are generally associated with north-south trending structures. The overall controlling geological feature is known as the Rio Grande Rift, which extends into northern Mexico hosting several past and present silver mines.

Foremost's Winston Project enjoys a close association with volcanic host rocks which formed at a similar time as the mineralization. Individual mines and prospects generally show strong controlling geological structures, typically north-south high angle faulting associated with the Rio Grande Rift (RGR). The RGR is a crustal-scale feature which extends over 1,200 kilometers, from northern Mexico to central Colorado.

Precious metal deposits of note along the RGR include the historic Creede Mining District in southwestern Colorado. The timing of mineralization is within several million years of that on the Winston Project, where alteration minerals have been dated at approximately 26.5 Ma. The Creede District has recorded production of over 84 million ounces of silver. Hecla Mining Corp., a premier US silver producer, is undertaking a major effort in the Creede District to bring a new mining complex online.

Located 100km to the east, The Mogollon District in western New Mexico has produced more than 13 million ounces silver and 270k ounces old. Mineralization is of the same Low-Sulphidation Epithermal Vein Type. Summa Silver is currently exploring the Mogollon Camp.

Little Granite Mine

The Little Granite Mine is a past-producing high-grade silver-gold mine hosted in Tertiary volcanics. The main vein has been traced for over 200 meters by past drilling and underground workings and remains open along strike to both the north and south, and at depth. Historically reported high-grade values were confirmed in limited re-sampling by Foremost in late 2020. Historic drill reports suggest the primary vein widens to more than 4m (12ft) true width, at depth.

Ivanhoe - Emporia Mines

The Ivanhoe - Emporia is a past producing gold-silver mine. Its main shaft was sunk to 384 feet depth with a 370 ft. decline and multiple working levels. There is potential for large tonnage of lower grade, stockwork veins surrounding high grade veins mined in the past. The strike continuation needs to be explored as favorable structural conditions persist along the bends and jobs of the Paymaster Fault.

Conclusion

Foremost is committed to commence a drill program in 2022 on multiple targets on the property. Past preparatory work for drilling has included data compilation both of historic and recent work, along with acquisition of high-resolution LiDAR data to allow construction of an accurate terrane model. This property had little to no modern exploration since the early 1980s and with such high-grade samples returned, the Company is keen to see the full potential from the Winston Gold/Silver Project.

There has been insufficient exploration to define a mineral resource. The potential quantities and associated grades have not been defined by drilling, but historic production in the district reflects the potential scope of orebodies which may be encountered. It is uncertain if further exploration will result in the delineation of a mineral resource.

QA/QC Statement-

166 samples have been processed by ALS Laboratories' ("ALS") for Precious Metals and Multi-Elements. All Foremost's (previously FAR Resources) rock sample assay results have been independently monitored through a quality assurance/quality control ("QA/QC") protocol which includes the insertion of blind standard reference materials at regular intervals. Samples were maintained by Dr. Feinstein and securely transported to ALS sample preparation facilities in Tucson, Arizona and Reno, Nevada. Sample pulps were sent to ALS's labs in Vancouver, Canada, for analysis.

All samples were of hard rock and prepared by fine crushing to 70% passing

ALS Laboratories is independent of Foremost and its Vancouver facility is ISO-17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS' internal and Foremost's external blind quality control samples were acceptable for the samples analyzed. Foremost is not aware of any sampling, or other factors that could materially affect the accuracy or reliability of the data referred to herein.

QP Statement-

Michael Feinstein, PhD, CPG, is the Qualified Person (Q.P.) responsible for the technical material contained in this document. All samples are collected and maintained in accordance with established QA/QC protocols. Samples were analyzed by Fire Assay and ICP-MS. Internal laboratory QA/QC protocols were followed and 5% external standards are submitted with all sample batches. The technical content of this news release has been reviewed by Dr. Michael Feinstein, CPG, who is a Qualified Person as defined by NI 43-101.

About Foremost Lithium

Foremost Lithium is a resource exploration company committed to having a critical role in the production of high-quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing energy decarbonization, especially when it comes to vehicles, the Company is hyper-focused in continued exploration and growth on its five lithium projects in Manitoba being Jean Lake, Grass River, Zoro, Jol and the Peg North Claims, and its Hidden Lake lithium project in the Northwest Territories. Foremost Lithium also has an interest in the Winston Gold/Silver Project in New Mexico, USA.

For Further Information Please Contact:
John Gravelle, President and CEO
info@foremostlithium.com
Foremost Lithium Resource &Technology
1 604 330-8067

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Forward-Looking Statements

This news release contains "forward-looking statements" and "forward-looking information" (as defined under applicable securities laws), based on management's best estimates, assumptions and current expectations. Such statements include but are not limited to, statements with respect to the changes to management of the Company, for closing of the proposed acquisition, future acquisition and dispositions of mining and exploration interests, furure financing needs and activities, the plans for future exploration and development of the Company's properties Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as ""expects", "expected", "budgeted", "forecasts" , "anticipates" "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those expressed or implied by such statements, including but not limited to: risks related to the receipt of all necessary approvals for the proposed acquisition, completion of the Company's recently announced financing, risks related to the Company's exploration properties; risks related to international operations; risks related to general economic conditions, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of commodities including lithium and gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in reserves; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of exploration, development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in jurisdictions in which the Company operates. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any obligation to revise or update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results, events or developments, except as require by law. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to the Company's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting the Company and its business.

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Alpha Lithium Completes Drilling in Tolillar and Initiates Exploration at Hombre Muerto

Alpha Lithium Completes Drilling in Tolillar and Initiates Exploration at Hombre Muerto

Alpha Lithium Corporation (TSX.V: ALLI) (OTC: APHLF) (Germany WKN: A3CUW1) (" Alpha " or the " Company ") is very pleased to provide an operational update on its Salar del Hombre Muerto and Tolillar Salar projects in Argentina's Lithium Triangle. Alpha is commencing a Vertical Electrical Sounding ("VES") survey on its 100% owned, 5,000-hectare property in Hombre Muerto with the intention to complement and direct the Company's upcoming drilling program. At Tolillar, the Company is pleased to provide an update on VES, drilling and the scheduled completion of an inaugural NI 43-101 Resource Report.

The Company currently has $44 million in cash; and accordingly, is extremely well-funded to continue its drilling and exploration activities.

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