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Vancouver, B.C. (May 23, 2023)FE Battery Metals Ltd. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) (“FE Battery Metals” or the “Company) is pleased to announce results of Drill Holes LC23-60 and LC23-61 from the 2023 exploratory drill program at its Augustus Lithium Property in Quebec, Canada.

These drill holes intersected lithium-bearing pegmatites in a previously unexplored area approximately 600 metres to the west of the main Augustus Prospect, between Augustus and the Beluga Lithium zones. This new area, between the main prospects, sits within the prospective structural corridor that was interpreted by the Quebec Geologic survey to possess similar mineral potential as the North American Lithium Mine (NAL) geology. The Company’s airborne geophysical survey completed in 2022 also supports this geologic continuity (See Figure 1 below)

Figure 1: Geological map of the area showing mapped pegmatites in the area (Source: MERN, QC)

Highlights (see Tables 1&2 for details)

  • Drill hole LC23-60 intersected two lithium pegmatites as follows:
    • The upper pegmatite intersected 2.75 m wide zone with average 2810 parts per million (ppm) lithium (Li) or 0.60% lithium oxide (Li2O) at 78 m drilled depth; including one-metre-wide zone with 1.34% Li2O at 78.75 m depth. There are highly anomalous values of other rare metals in this section with average 140.67 parts per million beryllium (Be), 53.94 ppm cesium (Cs), 59.20 ppm niobium (Nb), 1,033.33 ppm rubidium (Rb) and 72.23 ppm tantalum (Ta).
    • At 87.1m a 2 m wide pegmatite averaged 5190 ppm Li or 1.12% Li2O; which included a one-metre-wide zone with 1.51% Li2O at 88.1 m depth. Anomalous values of other rare metals in this section with average 177.50 ppm Be, 46.15 ppm Cs, 85.60 ppm niobium (Nb), 1,550 ppm Rb and 79.65 ppm Ta.
    • A few other pegmatite intercepts are with over 500 ppm Li.
  • Drill Hole LC23-61 intersected a 2.3 m wide lithium pegmatite with average 2,467 ppm Li or 0.53% Li2O at 207.7 m drilled depth. There are anomalous values of other rare metals in this section with average 133.67 ppm Be, 26 ppm Cs, 97.83 ppm Nb, 816 ppm Rb and 66.80 ppm Ta. The drill hole was ended when still in mineralization due to technical problems in drilling.
  • Drill hole LC23-60 was drilled at location 5367532 N, 286532E, UTM NAD 1983 Zone 18N, at azimuth 38.6 degrees and dip -47.7 with a drilled depth of 176 m.
  • Drill hole LC23-61 was drilled at location 5367931N, 286681E, UTM NAD 1983 Zone 18N, at azimuth 227.2 degrees and dip -56.7 with a drilled depth of 196 m.

“We are extremely pleased with the results of Drill Holes LC23-60 and LC23-61 from this exploratory step-out drill program west of the Augustus Lithium Property. These holes were strategically placed to test for the continuity of lithium pegmatites between our two main prospects. Based on our work, our pegmatites occurrences appear to be a along-strike extension of the North American Lithium Mine (NAL) located to the east of our Augustus property. These encouraging results reinforce our confidence in the lithium potential of our Augustus Lithium project. We remain committed to advancing our exploration efforts within this promising corridor”, states Gurminder Sangha, CEO of FE Battery Metals.

To date, a total of 61 drill holes with a cumulative core drilling of over 12,000 m have been completed on the Property. The drill core is logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks are being inserted at industry standard intervals.

The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2) as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

ON BEHALF OF THE BOARD OF

FE BATTERY METALS CORP.

“Gurminder Sangha”

Gurminder Sangha

CEO & Director

For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

 

Table 1: Drill Hole LC23-60 Sample assays highlights

Analyte Symbol

From

To

Total Width

Li

Li2O

Be

Cs

Fe

Nb

Rb

Ta

Unit Symbol

ppm

%

ppm

ppm

%

ppm

ppm

ppm

Detection Limit

m

m

m

15

 

3

0.1

0.05

2.4

0.4

0.2

Analysis Method

     

FUS-Na2O2

1158409

25.81

26.81

1

233

0.05

16

47.6

0.77

17.2

1040

30.3

1158411

26.81

27.39

0.58

22

0.00

28

13.6

0.5

37.3

528

53.9

1158412

53.7

54.6

0.9

152

0.03

20

31.8

0.5

29

777

49.8

1158413

78

78.75

0.75

1130

0.24

18

63.7

2.66

16.4

410

4.6

1158414

78.75

79.75

1

6230

1.34

179

48.5

0.8

86.6

1340

92.1

1158415

79.75

80.75

1

1070

0.23

225

49.6

0.4

74.6

1350

120

Upper Pegmatite

78.00

80.75

2.75

2810.00

0.60

140.67

53.93

1.29

59.20

1033.33

72.23

1158416

80.75

81.5

0.75

50

0.01

250

35.5

0.38

81.1

1030

77

1158417

81.5

82.04

0.54

28

0.01

19

12

0.33

73.1

525

89.6

1158418

82.04

82.54

0.5

887

0.19

27

92.1

2.2

19.2

689

12.5

1158419

86.6

87.1

0.5

1370

0.29

11

78.9

2.81

11

467

2.5

1158421

87.1

88.1

1

3380

0.73

144

45.5

0.44

92.8

1770

87.8

1158422

88.1

89.1

1

7000

1.51

211

46.8

0.46

78.4

1330

71.5

Lower Pegmatite

87.1

89.1

2

5190

1.12

177.50

46.15

0.45

85.60

1550.00

79.65

1158423

89.1

90

0.9

438

0.09

118

46.7

0.32

58.8

1980

71.1

1158424

90

90.51

0.51

1460

0.31

24

199

2.63

8.2

1180

1.8

1158425

90.51

91.04

0.53

205

0.04

173

62.8

0.68

87.2

1800

63.9

1158426

91.04

91.6

0.56

100

0.02

161

38

0.55

78.3

1500

54.2

1158427

92.76

93.76

1

121

0.03

49

39.1

0.79

64.2

1540

38.9

1158428

93.76

94.76

1

116

0.02

208

53.8

0.45

58.5

2140

48.8

1158429

94.76

95.4

0.64

115

0.02

133

34.7

0.61

99.5

1320

81.8

1158431

95.4

96.1

0.7

47

0.01

104

20.3

0.45

95.9

727

64.5

1158432

101.82

102.44

0.62

430

0.09

32

57.7

1

69.1

882

117

1158433

116.17

117

0.83

< 15

 

26

35.8

0.24

45.7

1740

95.7

1158434

117

177.7

60.7

111

0.02

42

48.6

0.75

70.2

1670

95.7

1158435

144.65

148.63

3.98

50

0.01

51

35.8

0.48

52.9

1670

35.1

1158436

148.63

149.39

0.76

55

0.01

37

17.5

0.57

78.4

488

50

1158437

163

164.1

1.1

< 15

 

242

47.7

0.57

83.8

1240

102

1158438

166

167

1

739

0.16

126

50.2

0.58

90.7

1250

96.3

1158439

167

167.57

0.57

15

0.00

223

17.6

0.4

99.4

677

79.7

1158441

173

173.85

0.85

965

0.21

149

44.2

0.74

88.7

1430

90

1158442

173.85

174.95

1.1

45

0.01

137

29.8

0.41

70.3

1020

98.5

Note: A standard conversion factor of 2.15 was used to report Li to Li2O values

All intersections reported are based on drilled width and have not been converted to the true width.

Table 2: Drill Hole LC23-61 Sample assays highlights

Analyte Symbol

 Depth From

 Depth To

 Total Width

Li

Li2O

Be

Cs

Fe

Nb

Rb

Ta

Unit Symbol

 m

 m

 m

ppm

%

ppm

ppm

%

ppm

ppm

ppm

Detection Limit

     

15

 

3

0.1

0.05

2.4

0.4

0.2

Analysis Method

     

FUS-Na2O2

1158444

66.68

67.34

0.66

40

0.01

54

46.3

0.44

129.1

1980

132

1158445

67.34

67.94

0.6

22

0.00

18

23.8

0.34

69.2

887

90.5

1158446

75.72

76.08

0.36

77

0.02

18

38.7

0.39

52.6

1550

57

1158447

76.08

77.04

0.96

47

0.01

42

49.8

0.36

79.5

2230

74.3

1158448

77.04

78

0.96

89

0.02

67

33.5

0.41

95.6

1150

87.2

1158449

78

79

1

242

0.05

19

65.5

0.59

68.1

1870

73.9

1158451

79

80

1

86

0.02

108

43.8

0.36

84.3

1570

81.6

1158452

80

81

1

125

0.03

390

68.9

0.38

111.2

1670

146

1158453

81

82

1

96

0.02

205

46.9

0.44

101.4

1620

120

1158454

82

83

1

60

0.01

149

49.9

0.39

94.2

1860

100

1158455

83

83.94

0.94

34

0.01

49

31.8

0.4

93

1340

87.4

1158456

103.24

103.87

0.63

< 15

 

19

27.9

0.32

72.9

1220

74.8

1158457

103.87

104.83

0.96

< 15

 

79

25.5

0.4

72.7

954

47.9

1158458

129.64

130.64

1

26

0.01

9

11.1

0.52

18.5

254

22.4

1158459

130.64

131.64

1

< 15

 

64

22.6

0.35

75.4

635

139

1158461

157.94

158.4

0.46

16

0.00

184

25.2

0.38

72.1

546

96.6

1158462

175

176

1

17

0.00

165

47.1

0.32

73.5

1950

88.8

1158463

176

177

1

175

0.04

117

31.8

0.53

88

1100

77.4

1158464

177

177.92

0.92

22

0.00

83

22.3

0.4

94.2

1070

49.2

1158465

191.2

191.74

0.54

< 15

 

40

32.8

0.36

201.1

1970

81.3

1158466

192.59

193.59

1

< 15

 

21

16.8

0.33

48.3

920

31.1

1158467

193.59

194.68

1.09

30

0.01

189

20.5

0.46

67.2

1080

41.9

1158468

195

196.1

1.1

152

0.03

129

45

0.86

59

1410

60.2

1158469

196.9

197.53

0.63

76

0.02

42

34.3

0.66

59.7

1310

41.3

1158471

198.7

199.7

1

110

0.02

13

49

0.54

62.4

2300

27.6

1158472

199.7

200.7

1

36

0.01

29

28.2

0.36

67.5

1350

36.7

1158473

200.7

201.7

1

41

0.01

14

22.6

0.36

93.2

1010

35

1158474

201.7

202.7

1

45

0.01

30

30.6

0.48

98.3

1500

35.1

1158475

202.7

203.7

1

93

0.02

20

58.2

0.64

56

2590

18.9

1158476

203.7

204.7

1

63

0.01

36

58.5

0.49

62.2

3080

23.2

1158477

204.7

205.7

1

150

0.03

136

54.8

0.74

83.3

2310

32.5

1158478

205.7

206.7

1

63

0.01

19

47.4

0.39

101.5

2470

45.4

1158479

206.7

207.7

1

382

0.08

345

46.3

0.3

107.6

2090

63.9

1158481

207.7

208.7

1

1390

0.30

112

24

0.73

91.5

910

57.5

1158482

208.7

209.23

0.53

3540

0.76

139

21.6

0.62

116.5

518

78.8

1158483

209.23

210

0.77

2470

0.53

150

32.4

0.47

85.5

1020

64.1

Lithium Pegmatite Zone

207.7

210

2.3

2467

0.53

133.67

26.00

0.61

97.83

816.00

66.80

Average

2467

0.53

92

37

0

84

1480

67

Note: A standard conversion factor of 2.15 was used to report Li to Li2O values

All intersections reported are based on drilled width and have not been converted to the true width.


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