Mr. Jason Barnard reports

FOREMOST LITHIUM FINALIZES ACQUISITION OF THE LITTLE GRANITE GOLD/SILVER MINE IN NEW MEXICO AND PROVIDES BUSINESS UPDATE FOR WINSTON GROUP OF PROPERTIES

Foremost Lithium Resource & Technology Ltd. has made the third and final cash payment in the amount of $25,000 (U.S.) to acquire a 100-per-cent interest in and to the Little Granite gold/silver mine claims within the Winston group of properties, as previously announced on Dec. 14, 2022. Under the amended terms of this acquisition, Foremost successfully negotiated a reduction in the final cash payment required to exercise its option to acquire the Property from $380,000USD

to $75,000USD (which was paid) which had been satisfied through the issuance a non-interest-bearing promissory note to the arm's length Property Vendor (the "Note"). The Note was due and payable by October 15, 2023 and, following the amendments, the Company has now acquired the Property for aggregate consideration of $186,000USD versus aggregate consideration of $434,000USD under the original terms of the acquisition.

"This is a great property, drilled in 1980's with a historical geologic report by geologist Christopher B. Dewitt, detailing the tracing of a gold bearing vein for over 1,000 feet with assay results returning gold grades of over one ounce per ton 1 " comments Jason Barnard, Chief Executive Officer and President of Foremost. "As the precious metals market resumes its uptrend, I expect investors will begin to recognize the value of this property. It's great to be part of an organization with a portfolio that is rich not just in battery minerals but also precious metals, which adds another layer of opportunity for our company and its stakeholders to increase value. The Board and I would also like to Thank Ray Strafehl who was integral in assisting us with the acquisition of Little Granite Gold/Silver Mine claims."

Foremost has extended its land holdings most recently by staking seven additional claims at the north end of the Property. The purpose was to secure a more solid holding of the northern extension of the PayMaster Fault, a structural trend known for historic gold discoveries. The Winston Property now consists of 147 unpatented mining claims and 2 patented Ivanhoe and Emporia lode mining claims, comprising a total of 3,000 acres.

The Winston Group of Properties contains three historic mines: Ivanhoe; Emporia; and Little Granite; located in Sierra County, New Mexico, USA. The Little Granite Mine has been worked during several periods since discovery in the 1870s; workings consist of 3 shafts, a 470ft decline and several underground levels. The historic mines are hosted by north-south orientated vein systems which display characteristics typical of low sulphidation epithermal style mineralization, carrying grades in gold and silver. A sampling program at the Little Granite Mine last year returned results ranging from 0.10 to 66.50 g/t gold and 7.6 to 2,940 g/t silver as disclosed in the Company's press release on June 29, 2022.

Foremost contracted KLM Geophysical Exploration, from Caliente, Nevada, to complete a ground magnetic survey in Spring 2023. This data was processed to generate Total Magnetic Intensity and other map products which provide important structural context for the Property. A 3D GIS ("Geographic Information System") is used for all drill targeting and project planning. Special attention was given to maintaining a high level of vertical accuracy due to the local topography. Data compilation both of historic and recent work, along with acquisition of Magnetic and LiDAR data, has enabled the construction of a high-precision geologic model.

Current exploration plans for the Winston Group of Properties include review and focus along the northern portion of the 7km long Paymaster Fault.

QP Statement

The technical content of this news release has been reviewed by Dr. Michael Feinstein, CPG, who is a Qualified Person as defined in NI 43-101 and as defined by SEC's S-K 1300.

About Foremost Lithium

Foremost Lithium (NASDAQ: FMST) (CSE: FAT) (FSE: F0R0) (WKN: A3DCC8) 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, Manitoba, and includes 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 (Zoro, Jean Lake, GRC, and Peg North), as well as its Lac Simard South project, are located at the tip of the NAFTA superhighway to capitalize on the world's growing EV appetite, strongly positioning the Company to become a premier supplier of North America's lithium feedstock. As the world transitions towards 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, USA. Learn More at www.foremostlithium.com.

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