Mr. Jason Barnard reports

FOREMOST LITHIUM ENGAGES MZ GROUP TO LEAD STRATEGIC INVESTOR RELATIONS AND SHAREHOLDER COMMUNICATION PROGRAM

Foremost Lithium Resource & Technology Ltd. has engaged international investor relations specialists MZ Group to lead a comprehensive strategic investor relations and financial communications program across all key markets.

MZ's professionals, including Greg Falesnik, chief executive officer of MZ, and Michael Kim, managing director at MZ North America, will both work closely with Foremost Lithium's management starting on Aug. 29, 2023, to develop and implement a comprehensive capital markets strategy designed to increase the company's visibility throughout the investment community. The contract with MZ ends on Aug. 28, 2024. MZ's work will highlight Foremost's position at the forefront of the electric vehicle (EV) revolution as a strategically located hard-rock lithium exploration company, empowering North America's clean energy economy. Mr. Kim will advise Foremost Lithium in all facets of corporate and financial communications, including the co-ordination of road shows and investment conferences across key cities, and building brand awareness with financial and social media outlets, including LinkedIn, Twitter and Facebook.

"Foremost is strongly positioned to capture share in the lithium market and support the battery metals supply chain in North America," said Jason Barnard, president and chief executive officer of Foremost Lithium. "We feel this engagement with the team at MZ Group will increase our visibility and communicate our vision in the investment community. We will leverage MZ's expertise and network to increase exposure of our company following our recent uplisting to the Nasdaq."

Mr. Falesnik, CEO of MZ North America, added: "Foremost's strategic Canadian location at the tip of the NAFTA [North American Free Trade Agreement] superhighway provides easy access to North American battery and EV manufacturing sites, and the opportunity to participate in the accelerating demand for a domestic lithium supply. Additionally, battery and EV manufacturers -- including LG Energy Solutions, Mercedes Benz and Volkswagen -- are now securing their raw materials directly with miners and junior explorers to secure their supply, giving Foremost key strategic competitive advantages for commercialization. We look forward to sharing the story with our network of institutional, family offices and retail investors."

The engagement is for an initial 12-month term, commencing on Aug. 28, 2023. Under the terms of the engagement, the company will pay MZ an independent consulting fee of an initial fee of $15,625 (U.S.) and thereafter $12,500 (U.S.) per month. In addition, the company has agreed that, subject to regulatory approval, it will allot and grant to MZ an aggregate of 30,900 common shares at a deemed price of $5.65 ($4.04 (U.S.)) per share.

Foremost has also engaged Independent Trading Group (ITG), a Toronto-based IIROC (Investment Industry Regulatory Organization of Canada) dealer-member to assist with market-making activities. ITG is Canada's only brokerage firm dedicated specifically to professional trading. As Canada's foremost market-making firm, ITG provides market making and liquidity provider services that are objective and focused. ITG employs real traders and provides real liquidity, with an underlying emphasis on integrity and success. The company has agreed to pay ITG a fee of $6,500 per month for the duration of the contract, with an initial term of three months, followed by consecutive one-month terms unless cancelled by either party on 30 days of notice.

About Foremost Lithium Resource & Technology Ltd.

Foremost Lithium is a hard-rock lithium exploration company focused on empowering the North American clean energy economy. Foremost's strategically located lithium properties extend over 43,000 acres in Snow Lake, Man., and hosts a property in a known active lithium camp situated on over 11,400 acres in Quebec called Lac Simard South.

Foremost's four flagship Lithium Lane projects as well as its Lac Simard South project are situated at the tip of the NAFTA superhighway to capitalize on the world's growing EV (electric vehicle) appetite, strongly positioning the company 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 Lithium also has the Winston gold/silver property in New Mexico, United States.

We seek Safe Harbor.