Mr. Jason Barnard reports

FOREMOST CLOSES PREVIOUSLY ANNOUNCED ACQUISITION OF LAC SIMARD SOUTH PROPERTY IN QUEBEC

Foremost Lithium Resource & Technology Ltd. has completed the previously announced acquisition of a 100-per-cent interest in the Lac Simard South property. This acquisition consists of 60 claims covering 8,612 acres/3,485 hectares and hosts 12 identified pegmatites through satellite imagery. In addition, Foremost independently staked and recorded 20 additional mineral claims which are contiguous with the borders of these 60 claims, which resulted in an increase of the Lac Simard South land package to 80 mineral claims and to the total area to 11,482 acres/4,647 hectares. These pegmatites are located approximately 90 kilometres southwest from the NAL lithium processing plant, which just announced it produced its first batch of spodumene concentrate (SC6) and 80 kilometres southwest of Val d'Or, a logistics hub for mining services.

Pursuant to the property acquisition agreement, in consideration of the property, Foremost paid the vendors cash consideration of $17,500 plus GST and issued 535,000 common shares at a deemed price of 15 cents per share. The shares are subject to a hold period of four months and one day from the date of issuance. A further cash payment in the amount of $17,500 plus GST is due and payable to the property vendors within four months after closing.

About Foremost Lithium Resource & Technology Ltd.

Foremost is a hardrock exploration company with over 42,000 acres located in Snow Lake, Man. Its five Lithium Lane projects, Zoro, Jean Lake, Grass River, Peg North and Jol, are strategically located to capitalize on the world's growing electric vehicle appetite and is perfectly positioned to become a premier supplier of North America's lithium feedstock. As the world transitions toward decarbonization, the company's objective is the extraction of lithium oxide (Li2O) and to subsequently play a role in the production of high-quality lithium hydroxide (LiOH) to help power lithium-based batteries, critical in developing a clean energy economy. Foremost also has the Winston gold/silver property in New Mexico, United States.

We seek Safe Harbor.