Mr. Jason Barnard reports

FOREMOST LITHIUM COMPLETES SALE OF ITS INTEREST ON ITS HIDDEN LAKE PROPERTY FOR $3.5 MILLION CASH

Foremost Lithium Resource & Technology Ltd. has completed the sale of its 60-per-cent interest in the Hidden Lake project in Yellowknife, NWT, for $3.5-million to Youssa Pty. Ltd., an Australian private company. The transaction was completed pursuant to the terms and conditions of the signed and binding term sheet entered between the parties, previously announced on November 07, 2022.

The Hidden Lake Project that was purchased from Foremost, consists of five contiguous mineral claims, with at least 10 lithium-bearing spodumene pegmatite dykes across 4,100 acres/1,659 hectares situated in the prolific Yellowknife Pegmatite District NWT.

Jason Barnard, Director of Foremost Lithium, adds, "I'm very pleased to have closed the sale of this non-core asset for $3.5million so we can focus our attention on our Lithium Lane Properties in Snow Lake, Manitoba."

QP Statement - The technical content of this news release has been reviewed by Dr. Mark Fedikow, P.Geo. who is a Qualified Person as defined by NI 43-101.

On Behalf of the Board of Directors,Jason Barnard, Director

About Foremost Lithium Resource & Technology Ltd.Foremost Lithium is a hard-rock exploration company strategically located to capitalize on world's growing EV appetite and is committed to being a premier supplier of North America's lithium feedstock. As the world transitions towards decarbonization, the company is focused on exploration and growth on its 5 Lithium Lane Projects in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the Northwest Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.

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