Mr. Jason Barnard reports

FOREMOST LITHIUM APPOINTS DOUGLAS L. MASON TO BOARD OF DIRECTORS

Foremost Lithium Resource & Technology Ltd. has appointed Douglas L. Mason, a veteran public company mining executive, to its board of directors as an independent director, effective Dec. 4, 2023. Mr. Mason has served as a senior officer and director of a number of public companies, bringing more than 30 years of extensive capital markets experience to the Foremost board of directors and having assisted in raising hundreds of millions of dollars for such public companies during his tenure with the same.

Mr. Mason served previously as chief executive officer, president and a director of Clearly Canadian Beverage Corp., a producer of premium beverage products. During his 20 years in the beverage industry, Mr. Mason built a reputation for innovation and has been credited as being one of the pioneers of the new-age beverage category. He is currently the chairman of the board and chief executive officer of Magnum Goldcorp Inc., a Canadian company engaged in the acquisition and exploration of mineral resource properties. Mr. Mason is an active community member serving as past deputy chair of the Collingwood School board of trustees, a past chair of the British Columbia Sports Hall of Fame and Museum, and a past chair of the British Columbia Sports Hall of Fame Foundation. He is currently a member of the board of the Fraser River Sturgeon Conservation Society and remains an active member of the Sports Hall Foundation. He is also an active supporter and recruiter of participants for fundraising events for the Rick Hansen Institute.

"Doug brings a strong, incremental skill set to the Foremost board of directors, with deep mining and capital markets expertise," said Jason Barnard, president and chief executive officer of Foremost Lithium. "He is a highly respected, purpose-driven leader who has a proven, long-term track record of success throughout his career in a diverse set of industries. Doug's proven expertise in mining will provide an invaluable perspective as we move our projects forward and execute on our company's growth strategies."

Mr. Mason added: "This is an exciting time to join Foremost, with planned drill programs in place for 2024 on properties that I feel have exciting growth potential. I look forward to leveraging my experience in base metals and precious metals mining on the board in support of the company's commitment to building sustainable value for its shareholders over the long term."

In connection with Mr. Mason's appointment, the company has now granted him an incentive option to purchase an aggregate of 20,000 common shares of the company at an exercise price of $5.47 per common share, expiring three years from the date of grant. The stock option is granted in accordance with the company's current stock incentive plan and the policies of the Canadian Securities Exchange.

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 (North American free-trade agreement) 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.

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