Mr. Toby Mayo reports

FAR RESOURCES DRILLS HIGHEST GRADE INTERCEPT TO DATE, 16 METRES OF 1.8% LI2O IN DEEP DRILLING AT DYKE 1 AND 12 METRES OF 1.1% LI2O IN NEWLY DISCOVERED DYKE 8

Far Resources Ltd. has released results from its 2018 winter drill program at its Zoro lithium project near the historic mining community of Snow Lake in mining-friendly Manitoba, including drilling the highest-grade intercept to date, 16 metres of 1.8 per cent lithium oxide in deep drilling on dike 1. The program consisted of 16 drill holes and 2,472 metres targeting the spodumene-bearing pegmatites on the property (see Jan. 19, 2018, news release). A summary of significant assay results is presented in the table.

Toby Mayo, interim chief executive officer of Far, stated: "We are clearly very excited by these results, which show not only the consistency of high-grade mineralization at depth at dike 1, but also the potential for adding significantly to the company's future resource base through our ongoing, multifaceted exploration approach. Furthermore, the recently completed aeromagnetics survey, combined with a planned expansion to the highly successful MMI program, give us great confidence in adding more high-grade lithium at Zoro. Meanwhile, we are eager to commence drilling at Hidden Lake in NWT, where we expect to achieve similar results in the next month."

Adding to resource potential at dike 1

The 2018 winter drill program tested dike 1 below 150 metres to assess the continuity of lithium mineralization. Drill hole FAR18-23 intersected five metres of 1.6 per cent lithium oxide confirming the continuation of high-grade mineralization at deeper levels in the dike. The high-grade nature of dike 1 was further confirmed in DDH FAR18-20 intersecting nearly 16 metres of 1.8 per cent Li2O. This intercept represents the highest-grade intercept over significant widths drilled to date on dike 1.

New discovery at dike 8

The new discovery of a previously unknown high-grade lithium-bearing dike was announced March 12, 2018. The drilling targeted a lithium-tantalum mobile metal ion (MMI) soil geochemical anomaly. Assay results from drill hole FAR18-35 that tested this new discovery are summarized in the table and include three separate intercepts of high-grade lithium including 12.3 metres of 1.1 per cent Li2O, 4.4 metres of 1.2 per cent Li2O and 2.2 metres of 1.5 per cent Li2O. These results are interpreted to be comparable with those for dike 1 and signify the potential for a second major lithium resource on the property. Additional drilling of dike 8 is being planned to expand this new discovery in 3-D.

          SUMMARY OF DRILL CORE ASSAY RESULTS FROM DRILL HOLES WITH >1% LI2O
  
DDH            From        To     Intercept      Li2O        Ta        Cs        Nb
                 (m)       (m)           (m)       (%)     (ppm)     (ppm)     (ppm)

FAR18-20      107.5     123.2          15.7       1.8        36       128       132
FAR18-23      247.5     277.5             5       1.6        57       144       181
FAR18-30         45        46             1       1.2        29       126        97
FAR18-35       17.9      21.4           4.4       1.2        72       376       156
               25.7        38          12.3       1.1        63       488        48
               53.8      54.5           2.2       1.5        67       359       128

Confirmation of grade at dikes 2, 5 and 7

Narrow intercepts from shallow drill holes testing dikes 2, 5 and 7 were obtained from this winter's program. Of these, dike 5, tested by drill hole FAR18-30, intersected one metre of 1.2 per cent Li2O. Over all the results for each of these dikes were consistent with historic exploration results.

Mr. Mayo added: "We are well under way planning our summer exploration campaign for Zoro. In addition, we see great opportunity to add significantly to the value of the project through the upcoming NI 43-101 technical report and planned lithium metallurgical test work."

Continuing exploration

Exploration is currently being planned to guide the next phase of exploration on the Zoro property. Drilling on the newly discovered dike 8 and other MMI anomalies is planned for the summer and a final report describing results of a test drone magnetic survey on a portion of the property is expected shortly. MMI surveys will be expanded to cover areas where outcrop is buried beneath organic and inorganic sediments. Results will be released as they become available.

Metallurgical test work and updated National Instrument 43-101 technical report

The company is currently assessing metallurgical test work programs for the Zoro and is reviewing proposals for completion of this work. Far expects to begin lithium test work in the coming weeks.

Additionally, Far is updating its internal NI 43-101 technical report to include results from its 2018 winter drill program. When completed, the company will be releasing the report, which will include its first non-historic lithium resource.

Grant of options

The company also announces that it has granted 1.3 million incentive stock options to certain directors, officers and consultants. The options can be exercised into common shares of the company at a price of 32.5 cents per option share for a period of five years from date of grant.

About Far Resources Ltd.

In Canada, Far is actively drilling its Zoro lithium project located near Snow Lake, Man., which covers a number of known lithium pegmatite occurrences. The company has recently acquired an option on the Hidden Lake property in Northwest Territories and is currently assessing its exploration strategy for this new acquisition. In the United States, the company owns the Winston project in New Mexico, another historic mining property with potential for silver and gold.

The technical content of this news release has been reviewed and approved by Mark Fedikow, PGeo, a qualified person as defined under NI 43-101.

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