Mr. Jason Barnard reports

FOREMOST LITHIUM APPOINTS BAL BHULLAR AS CHIEF FINANCIAL OFFICER AND CORPORATE SECRETARY

Foremost Lithium Resource & Technology Ltd. has appointed Bal Bhullar as its chief financial officer and corporate secretary effective Sept. 7, 2023. Ms. Bhullar succeeds Cyrus Driver, who is leaving the company to pursue other interests.

Ms. Bhullar has more than 25 years of experience in senior financial positions and risk management, and experience as an executive and/or board director, in both public and private companies. Most recently, she served as CFO and executive board member at ElectraMeccanica, where she was responsible for managing the financial initiatives essential to the company's growth.

"We are delighted to welcome Bal to our executive leadership team as CFO and look forward to her contributions to accelerating our growth," said Jason Barnard, president and chief executive officer of Foremost Lithium. "Her entrepreneurial spirit, outstanding work ethic and vast networks are assets that will undoubtedly have an immediate and substantial impact on our company. We anticipate her accomplished background in finance and capital markets will help generate long-term shareholder value as we execute to become a key contributor to the North American EV revolution."

Ms. Bhullar's involvement at ElectraMeccanica was instrumental through its evolution in scaling an EV manufacturer from its early stages through its Nasdaq Stock Market listing, which will complement Foremost in its recent uplisting onto the Nasdaq. She is a chartered professional accountant and a certified general accountant, and holds a CRM designation from Simon Fraser University and a diploma in financial management from British Columbia Institute of Technology. Ms. Bhullar brings strong banking relationships and is experienced with increasing market capitalization, raising capital, corporate governance, ESG (environmental, social and governance), diversity, financial and strategic planning, initial public offerings, reverse takeovers, operational and risk management, and regulatory compliance reporting.

"I am excited to join Foremost Lithium at this important juncture in the company's evolution," said Ms. Bhullar. "Drawing on my depth of experience with Nasdaq-listed companies, I will focus on integrating robust financial management systems and enhancing the company's corporate governance. I look forward to joining this talented team and contributing to the company's immense growth opportunity."

Foremost Lithium's board of directors and management team wish to thank Mr. Driver for his service and notable contributions. Mr. Driver has played a significant role in the company's transition and the company is appreciative of all his efforts and wishes him continued success.

Pursuant to the provisions of the company's stock option plan, the company wishes to grant a total of 155,000 incentive stock options exercisable at $6.60 per share, of which 85,000 will be exercisable for a period of five years from the date of grant and 70,000 will be exercisable for a period of three years from the date of grant, to certain directors, officers and consultants, as incentive for the services provided to the company in accordance with the company's stock option plan and the policies of the Canadian Securities Exchange.

About Foremost Lithium Resource & Technology Ltd.

Foremost 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 located at the tip of the NAFTA superhighway to capitalize on the world's growing 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, U.S.

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