Mr. Jason Barnard reports

FOREMOST LITHIUM RETURNS 2.13% LI2O AND 1.86% LI2O IN SAMPLES FROM ITS ZORO AND JEAN LAKE PROPERTIES AND BEGINS PREPARATION FOR WINTER DRILL PROGRAM

Foremost Lithium Resource & Technology Ltd. has released positive results returned from the rock sampling program on its Peg North, Grass River claims, Jean Lake and Zoro properties, including high-grade lithium values and spodumene mineralization at both the Zoro and Jean Lake properties.

Dahrouge Geological Consulting Ltd. (DGC) conducted a large-scale surface exploration program on Foremost's four lithium lane properties for lithium-cesium-tantalum (LCT) pegmatites this past summer, focusing interest toward predefined, high-priority targets on the Zoro and Jean Lake properties.

"The compilation of work has yielded highly promising results from sampling to date, and the team at Dahrouge continues to demonstrate their ability to execute a successful exploration program," said Jason Barnard, president and chief executive officer of Foremost Lithium. "Our 2023 exploration campaign is focusing on our high-quality assets and is supported by extensive geological data. The potential of this fertile area gives us great confidence as we define drill targets in preparation in this upcoming drill program. We look forward to proving results for our company and our shareholders."

Samples were shipped to SGS Laboratories (Burnaby) for analysis, which used a total dissolution of the sample by sodium peroxide fusion and ICP-MS (inductively coupled plasma mass spectrometry) finish. This analytical approach is the standard analytical technique used by the company on its Zoro and Jean Lake lithium projects. Quality assurance/quality control (QA/QC) samples were inserted into the sample sequence at a rate of 5 per cent, utilizing certified reference material and quartz blanks.

Zoro property

At the Zoro property, the mapped spodumene occurrence at dike 1 was revisited for sampling and detailed structural mapping to assist with targeting for the upcoming winter drill season. This was revisited for sampling and hosts an inferred resources of 1,074,567 tons at a grade of 0.91 per cent Li2O (lithium oxide), with a cut-off of 0.3 per cent, in accordance with the company's SK-1300 technical report summary (2023) and National Instrument 43-101 technical report (2018). DCG verified the presence of spodumene-mineralized pegmatite on surface at dike 1. Eight pegmatite samples, five containing spodumene, were collected for assay. Assay highlights can be found in the table entitled "Assay highlights from grab samples taken on the Zoro property during the 2023 field program."

Jean Lake property

Spodumene-pegmatite occurrences (B1, B2 and B3) that are collectively known as the beryl pegmatites were sampled and mapped in further detail to assist with drill targeting for the upcoming drill season. Additional overburden was stripped from the B1 and B2 occurrence, revealing more spodumene mineralization. Four chip samples were collected during the 2023 field program, three of which were from spodumene-bearing pegmatite. Samples taken from the B1 pegmatite hosted coarse-grained, pale-green spodumene that ranged from five centimetres (cm) to 0.7 metre. Samples taken from the B2 pegmatite hosted abundant apple-green to yellow-green spodumene that ranged from five cm to 15 cm. Assay highlights are presented in the table entitled "Assay highlights from 2023 chip samples field program."

Next steps -- winter drill program

Steps toward applying for a work permit and drill targeting are currently under way for a winter drill program in the coming months, on both the Zoro and Jean Lake properties. Drilling on Zoro will seek to expand the existing resource on dike 1, as well as further investigate the spodumene-bearing pegmatites on dike 8 and dike 16. The drill program at Jean Lake will follow up on the results from the winter 2023 drill program, with the hopes of expanding the high-grade spodumene occurrences at B1 and B2.

Qualified person

The technical information contained in this news release has been reviewed by Matthew Carter, BSc, PGeo, of Dahrouge Geological Consulting, who is a qualified person as defined in National Instrument 43-101, and as defined by SEC's (Securities and Exchange Commission) SK-1300 rules for mineral deposit disclosure.

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 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, United States.

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