Foremost Lithium to Acquire 100% Interest in 25 Additional Hectares in Snow Lake, Manitoba

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce that it will issue 335,235 common shares and has paid $50,000 in cash in satisfaction of its first anniversary option payment pursuant to the Company's option agreement with Mount Morgan Resources Ltd. to acquire a 100% interest in its Jean Lake lithium-gold project. The 1002 hectare Jean Lake Gold- Lithium project is located 570 km north of Winnipeg and 15 km east of the mining centre of Snow Lake Manitoba. The region hosts world-class gold, base-metal and gold-rich base-metal deposits and developing lithium resources.

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.

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) is pleased to announce it has received assay results from core samples collected from its previously announced ten-hole 1,509 metre drill program on its 100 percent owned Zoro Lithium Project located near the historic mining district of Snow Lake, Manitoba. As disclosed in Table 1, below, highlight assay results include 1.33% Li2O on the newly discovered Dyke 16. The program tested geological and Mobile Metal Ion ("MMI") soil geochemical targets and assessed previously discovered Dyke 8 at its deeper levels. Multi-element analyses for lithium and related elements and gold assays were undertaken by Activation Laboratories ("Actlabs"; Ancaster, Ontario).

John Gravelle, President and CEO of Foremost Lithium, comments, "The ongoing discovery of the 16th spodumene - bearing pegmatite dyke on our Zoro property has been confirmed by our latest drill program. With the results of a recently completed UAV-assisted magnetic survey and our historic and current exploration database we look forward to defining additional follow-up opportunities for lithium pegmatite diamond drilling exploration on our Zoro property."

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com) has completed its previously announced non-brokered private placement of 4,887,668 flow through common shares of the Company (the "FT Shares") at a price a price of $0.34 per FT Share for aggregate gross proceeds of C$1,661,807 (the "Offering").

John Gravelle, Foremost Lithium's CEO and President, comments, "I am very pleased to announce this strategic financing to continue our exploration efforts on our Manitoba properties. This will enable us to accelerate our pace for our planned 2022 drill programs. We feel the company is well positioned with the new acquisition of the Peg North property in Snow Lake and will continue to provide shareholders with updates."

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com), is pleased to announce that it completed its previously announced acquisition of 100% right, title and interest in and to those certain undersurface mineral rights comprising Manitoba Mineral Disposition No. MB3530 ("MB3530"), referred to as the "Jol Lithium Property", from an arm's length vendor (the "Vendor"), in consideration of a cash payment of $8,000 and the issuance of 18,181 common shares (the "Shares") at a deemed price of $0.33 per share. MB3530 subject to a 2% net smelter return royalty payable to the Vendor. The Shares are subject to a hold period of four months and one day from the date of issuance.

As previously announced in its June 9, 2022 news release, MB3530, referred to as the "Jol Lithium Property" encompasses 25 hectares (62 acres) situated due North from the Company's Jean Lake project and due West of the Company's Zoro project.

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com), is pleased to announce an increase to its previously announced non-brokered private placement flow through common shares of the Company (the "FT Shares"). Under the amended terms, Foremost intends to offer an aggregate of 4,887,668 FT Shares at a price of $0.34 per FT Share for gross proceeds of approximately C$1,661,807, (the "Offering").

An amount equal to the gross proceeds from the Offering will be used for exploration expenses on the Company's mineral properties in Manitoba, which will qualify as "Canadian Exploration Expenses", will be either expenses that qualify for the "critical mineral exploration tax credit" or "flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), and will be "flow-through mining expenditures", as defined in the Income Tax Act (Manitoba). These expenseswill be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2022. A portion on the proceeds will be used to pay fees owing to arm's length service providers under previously disclosed Investor Relations arrangements and to pay general and administrative expenses.