Mr. Jason Barnard reports

FOREMOST LITHIUM ANNOUNCES SECOND OPTION PAYMENT ON PEG NORTH

Further to Foremost Lithium Resource & Technology Ltd.'s news releases of June 29, 2022, and June 20, 2023, in respect of the company's option to acquire a 100-per-cent interest in the Peg North claims located in the historic Snow Lake mining district in Manitoba, the company confirms that it will proceed with making its second instalment option payment on or before June 28, 2023. In accordance with the terms of the option agreement, the second instalment payment will consist of a cash payment of $100,000 and issuing an aggregate of 653,595 common shares at a deemed price of 15.3 cents per share. The shares will be subject to a hold period of four months and one day from the date of issuance.

About Foremost Lithium Resource & Technology Ltd.

Foremost Lithium is a hard-rock exploration company with over 43,000 acres located in Snow Lake, Man., and hosts a property in a known active lithium camp in Quebec called Lac Simard South situated on over 11,400 acres.

Its five Lithium Lane projects, Zoro, Jean Lake, Grass River, Peg North and Jol, as well as Lac Simard South, are strategically located to capitalize on the world's growing EV (electric vehicle) appetite and are perfectly positioned to become premier suppliers 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 Lithium also has the Winston gold/silver property in New Mexico, United States.

We seek Safe Harbor.