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Vancouver, B.C. (November 29, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company”) is pleased to announce garb and channel samples results from exploration work at the Valor prospect on the Augustus Lithium Property in Quebec, Canada. The channel sampling cut a 14-meter-wide section with an average of 0.70% lithium oxide ( Li2O ) which includes 8- meters of spodumene pegmatite with 1.14 percent lithium oxide. There are anomalous values of other rare elements such as cesium, rubidium, niobium and tantalum. Additionally, four selected channel samples taken from the Valor and Lac La Motte NE prospects / showing assayed up to 3.14% Li2O. The purpose of the sampling was to verify historical exploration work results and to develop future work programs on these lithium prospects / showings on the Augustus Property. Four selected samples and two channels (Channel 1 West and Channel 2 East) were cut as part of this work on the Valor Prospect and Lac La Motte NE Showing.

Highlights of Assays (see Tables 1 & 2 for details)

Selected Channel Samples

  • Two samples from La Motte NE Showing assayed lithium oxide values up to 3.01 % Li2O with average 1.56% Li2O. Average values of other rare metals include beryllium (Be) 91.5 parts per million (ppm), cesium (Cs) 146.8 ppm, niobium (Nb) 40.25 ppm, rubidium (Rb) 2,654 ppm, and tantalum (Ta) 54.75 ppm.
  • Two samples from Valor prospect assayed lithium oxide values up to 3.14 % Li2O with average 2.17% Li2O. Average values of other rare metals including, Be 12.5 ppm, Cs 545.5 ppm, Nb 187.6 ppm, Rb 1,257 ppm, and Ta 214 ppm.

Channel Samples

  • Channel 1 West was cut through an 8-metres wide pegmatite in a north south direction with average 0.62% Li2O, and Channel 2 East was cut through 14- metres wide pegmatite with average 0.70% Li2O.
  • The mineralized section in Channel 1 West includes a four-meter-wide section with average 1.14% Li2O, 16.25 ppm Be, 755.9 ppm Cs, 50.65 ppm Nb, 2,039.75 ppm Rb, and 54.53 ppm Ta.
  •  The mineralized section in Channel 2 East includes an eight-meter-wide section with average 1.14% Li2O, 111 ppm Be, 1,390.88 ppm Cs, 62.74 ppm Nb, 2,498.33 ppm Rb, and 220.13 ppm Ta.

Each channel sample from this work represents one meter long, 5 cm wide and 3-5 cm deep cut in bedrock. Widths of channel samples on Channels 1 and 2 were one meter whereas the grab samples channel widths were 25 to 30 cm. 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.  

Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS

Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.

ICP-MS

Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.

ICP-OES

Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/

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.

In addition, the Company is pleased to announce it has closed a non-brokered private placement for aggregate proceeds of $2,200,000 from the sale of up to 8,800,000 units at a price of $0.25 cents per unit (the”Unit”). Each Unit will consist of one common share and one fully transferable common share purchase warrant (a “Warrant”).  Each Warrant will entitle the holder to purchase an additional common share for a price of $0.50 per share for a period of one year from the date of closing of the private placement.

Final closing of the transaction and private placement is subject to obtaining all required approvals, including from the CSE, and any other regulatory approval. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

About the Valor Lithium Prospect

Valore Prospect is comprised of 28 claims for approximately 1,000 hectares land located in the middle of the First Energy’s Augustus claim block. The mineralized pegmatite dyke measures 61 meters in length, its width varies between 2.4 and 12.2 meters. Its direction is N315° (GM 65108). The main pegmatite containing lithium mineralization can be traced over a distance of 122 m and has a width of 0.3 to 10.7 meters. A second, shorter and more erratic pegmatite dyke lies 91 meters to the north.

The spodumene crystals can measure up to 1.2 meters in length and are surrounded by cleavelandite-quartz-pegmatite aggregates in the granite. Massive pollucite is white to whitish gray in color and is found with quartz, cleavelandite, spodumene, beryl and lepidolite. Pollucite contains small veins and pieces of white spodumene and purplish lepidolite. Petalite is also reported (MB 89-29). The eroded surface is greyish white, resembling limestone.

Historical drill holes returned the following grades (GM 03190): 1.12 percent Li2O or 0.52 percent Li over 2.40 meters; 0.97 percent Li2O or 0.45 percent Li over 8.00 meters; 1.32 percent Li2O or 0.61 percent Li over 2.00 meters; 1.08 percent Li2O or 0.50 percent Li over 6.30 meters. GM 65108: the best results obtained in 2008 are: 2097 ppm berylium in groove chips (length 0.1 meter), 32340 ppm beryllium and 0.33 percent lithium in a selected sample. (Source: SIGÉOM | Système d’information géominière | Interactive map (gouv.qc.ca).

ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.

“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer

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: Grab Samples Assays

Analyte Symbol Field Sample ID Fe Be Cs Li Li2O Nb Rb Ta Location
Unit Symbol % ppm ppm ppm % ppm ppm ppm
Detection Limit 0.05 3 0.1 3.00   2.4 0.4 0.2 NAD 1983 Zone 18N
Analysis Method FUS-Na2O2 Easting Northing
475691   Lamotte 1 0.93 121 81.6 14,000.00 3.01 38.2 928 45.3 721515 5362642
475692   Lamotte 2 0.26 62 212 472.00 0.10 42.3 4380 64.2 721531 5362624
Average   0.595 91.5 146.8 7,236.00 1.56 40.25 2,654 54.75    
475693   Valor 1 0.76 17 842 14,600.00 3.14 335.3 1630 167 283728 5363582
475695   Valor 2 0.22 8 249 5,570.00 1.20 39.9 884 261 283728 5363582
Average   0.49 12.50 545.50 10,085.00 2.17 187.60 1,257.00 214.00    

Table 2:  Channel Sampling Assays

  Analyte Symbol Sample  Length  (m)  Be  Cs  L i  Li2O  Nb  Rb  Ta    Sample Location
  Unit Symbol   ppm ppm ppm % ppm ppm ppm   UTM NAD 1983 Zone 18N 
  Detection Limit   3 0.1 3   2.4 0.4 0.20  
  Analysis Method   FUS-MS-Na2O2  
  Channel 1 West                  
  475698 1 4 748 4320 0.93 108.1 2300 82.30 18 U 283712 5363594
  475699 1 10 1650 11600 2.49 38.3 4150 95.70 18 U 283714 5363593
  475700 1 46 569 4830 1.04 30 1110 34.00 18 U 283715 5363594
  475701 1 5 56.6 537 0.12 26.2 599 6.10 18 U 283717 5363594
  Total Width/ Average 4 16.25 755.9 5321.75 1.14 50.65 2039.75 54.53  
  475702 1 5 33.5 450 0.10 22.6 489 3.50 18 U 283717 5363595
  475703 1 4 24.3 418 0.09 24.9 398 4.40 18 U 283718 5363595
  475704 1 5 23.3 454 0.10 24.1 428 4.30 18 U 283718 5363596
  475705 1 5 20.4 479 0.10 23.1 375 3.90 18 U 283719 5363597
  Entire Width/ Average 8.00 10.50 390.64 2,886.00 0.62 37.16 1,231.13 29.28  
  Channel 2 East                  
  475706 1 7 130 558 0.12 28.4 885 13.70 18 U 283723 5363578
  475707 1 7 160 677 0.15 26.6 1290 6.60 18 U 283724 5363580
  475708 1 5 34.7 563 0.12 26.7 518 6.10 18 U 283725 5363581
  475709 1 4 61.3 558 0.12 24.5 710 4.80 18 U 283725 5363581
  Start of mineralized section                  
  475710 1 79 1690 3930 0.84 63.2 3040 82.70 18 U 283726 5363581
  475711 1 230 901 4440 0.95 48.7 2710 207.00 18 U 283726 5363582
  475712 1 8 1820 7980 1.72 75.8 > 5000 380.00 18 U 283727 5363586
  475713 1 60 1560 6490 1.40 130.3 3810 345.00 18 U 283727 5363589
  475714 1 50 2270 6990 1.50 79.6 > 5000 377.00 18 U 283727 5363592
  475715 1 7 1530 4060 0.87 35.2 2160 190.00 18 U 283727 5363591
  475716 1 9 923 5340 1.15 23.7 1860 117.00 18 U 283728 5363589
  475717 1 445 433 3290 0.71 45.4 1410 62.30 18 U 283727 5363588
  Total Width/ Average 8 111 1390.88 5315 1.14 62.74 2498.33 220.13  
  475718 1 11 136 536 0.12 24.6 1100 10.90 18 U 283724 5363584
  475719 1 4 31.6 448 0.10 19.5 438 4.30 18 U 283722 5363587
  Entire Channel Width/ Average 14.00 66.14 834.33 3,275.71 0.70 46.59 1,660.92 129.10  

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


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