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Vancouver, B.C. (November 18, 2021) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce results of drill hole LC21-20 at its Augustus Lithium Property in Quebec, Canada. The drill hole intersected five spodumene bearing lithium intercepts within a 91 metres wide pegmatite zone starting from 64 metres to 155 metres drilled depth. Two of the most prominent spodumene intercepts are: 1.10 percent (%) lithium oxide (Li2O) over 4.3 metres (m) at 79.70 m and 1.59% Li2O over 4.75 m at 97.25 m drilled depth. There are anomalous values of other rare metals including beryllium (Be), cesium (Cs), niobium (Nb), rubidium (Rb) and tantalum (Ta).

Highlights (see Table 1 for details)

  • First Intercept – 2m width at 64m: Average values of lithium (Li) are 1,821.5 parts per million (ppm) and Li2O is 0.39%. Anomalous values of other rare metals include beryllium 149 ppm, cesium 16.25 ppm, niobium 43.15 ppm, rubidium 170 ppm, and tantalum 65.05 ppm.
  • Second Intercept – 1.90m width at 72.7m: Average value of Li is 2,869 ppm and Li2O is 0.62%. Anomalous values of other rare metals include beryllium 12 to 83 ppm, cesium 21.5 to 45 ppm, niobium 45.15 to 57.9 ppm, rubidium 694 to 1,340 ppm, and tantalum 138 to 185 ppm.
  • Third Intercept – 4.30 m width at 79.7 m: Average value of Li is 5,104 ppm and Li2O is 1.10%. Anomalous values of other rare metals include beryllium 66 to 150 ppm, cesium 16.2 to 48.2 ppm, niobium 44.3 to 67.3 ppm, rubidium 134 to 1,010 ppm, and tantalum 121 to 181 ppm.
  • Fourth Intercept – 4.75 m width at 97.25 m: Average value of Li is 7,391 ppm and Li2O is 1.59%. Anomalous values of other rare metals include beryllium 187 to 332 ppm, cesium 40.5 to 240 ppm, niobium 67.5 to 97.5 ppm, rubidium 253 to 828 ppm, and tantalum 122 to 264 ppm.
  • Fifth Intercept – 6.50 m width at 129.50 m: Average value of Li is 3,113 ppm and Li2O is 0.67%. Anomalous values of other rare metals include beryllium 19 to 348 ppm, cesium 27.2 to 585 ppm, niobium 51.1 to 99.7 ppm, rubidium 193 to over 5,000 ppm, and tantalum 66.5 to 191 ppm.

Drill hole LC21-20 was drilled at location: 287039E, 5367814N (NAD 1983 UTM Zone 18N), Azimuth 35.55 degrees, Dip -65 degrees with a total drilled depth of 175 m. All intersections reported are based on drilled width and have not been converted to the true width.

The drill core was logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks were 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). 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
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: Drill Hole LC21-20 Assay Highlights

Analyte Symbol Depth From Depth To Total Li Li2O Be Cs Fe Nb Rb Ta
Unit Symbol m m m ppm % ppm ppm % ppm ppm ppm
Detection Limit       3   3 0.1 0.05 2.4 0.4 0.2
Analysis Method       FUS-MS-Na2O2
201945 62.8 64 1.20 286 0.06 135 44 0.56 49.8 844 63.7
                       
201946 64 65 1.00 2940 0.63 266 26.8 0.48 69.4 233 89.2
201947 65 66 1.00 703 0.15 32 5.7 0.3 16.9 107 40.9
1st Intercept 64 66 2.00 1821.5 0.39 149 16.25 0.39 43.15 170 65.05
201948 72.7 73.7 1.00 4200 0.90 83 45 0.2 57.9 1340 138
201949 73.7 74.6 0.90 1390 0.30 12 21.5 0.28 45.1 694 185
2nd Intercept 72.7 74.6 1.90 2869 0.62            
201951 79.7 81 1.30 1990 0.43 66 33.6 0.41 44.3 736 121
201952 81 82 1.00 6260 1.35 174 48.2 0.31 67.3 1010 181
201953 82 83 1.00 7280 1.57 182 25.8 0.35 61.5 253 165
201954 83 84 1.00 5820 1.25 150 16.2 0.56 64.9 134 129
3rd Intercept 79.7 84 4.30 5104 1.10 143 30.95 0.4075 59.5 533.25 149
201955 84 85.4 1.40 1200 0.26 62 10.5 0.33 30.5 120 106
201956 88.7 89.6 0.90 418 0.09 53 31.1 0.49 55.2 418 115
                       
201957 97.25 98 0.75 4740 1.02 187 38.9 0.31 68.5 405 146
201958 98 99 1.00 9190 1.98 324 74.2 0.27 80.1 554 197
201959 99 100 1.00 11200 2.41 332 58.2 0.37 97.5 253 264
201961 100 101 1.00 5830 1.25 229 40.5 0.29 69.1 311 137
201962 101 102 1.00 5330 1.15 210 240 1.01 67.5 828 122
4th Intercept 97.25 102 4.75 7391 1.59 256.4 90.36 0.45 76.54 470.2 173.2
201963 128.5 129 0.50 5640 1.21 297 39.8 0.29 47 159 67.4
                       
201964 129.5 130 0.50 8230 1.77 348 48.8 0.36 63.8 193 78
201966 130 131 1.00 2920 0.63 204 27.2 0.25 60.4 318 191
201967 131 132 1.00 4570 0.98 284 34.6 0.41 72.8 327 116
201968 132 133 1.00 1220 0.26 179 110 0.7 66.1 1430 66.5
201969 133 133.5 0.50 6040 1.30 19 585 1.64 99.7 > 5000 141
201971 133.5 134.5 1.00 382 0.08 174 45.8 0.32 51.1 713 72.7
201972 134.5 135 0.50 4710 1.01 185 97.2 0.68 60 1270 75.5
201973 135 136 1.00 1650 0.35 142 182 0.77 59.2 2880 81.2
5th Intercept 129.5 136 6.50 3113 0.67            
201974 136 137 1.00 249 0.05 142 17.6 0.21 37.2 242 44.3
201976 137 138 1.00 261 0.06 520 38 0.33 55.9 359 82.4
201977 138 139 1.00 2520 0.54 178 156 0.6 78.4 2110 98.9
201978 139 140 1.00 1380 0.30 192 15.5 0.26 69.9 143 123
201979 140 140.7 0.70 1810 0.39 194 181 0.75 90.5 985 114
201981 151 152 1.00 1510 0.32 194 25 0.65 76.6 315 46.8
201982 152 153 1.00 887 0.19 143 24.2 0.52 87.9 432 48
201983 153 154 1.00 352 0.08 297 34.3 0.59 93.4 291 69.6
201984 154 155 1.00 632 0.14 91 22.7 0.37 94.9 649 58.7

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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