Mr. Gurminder Sangha reports

FE BATTERY METALS LOCATES NEW PEGMATITE ZONE EXTENDING THE AUGUSTUS LITHIUM PROSPECT

FE Battery Metals Ltd. has released results of drill holes LC23-60 and LC23-61 from the 2023 exploratory drill program at its Augustus lithium property in Quebec, Canada.

These drill holes intersected lithium-bearing pegmatites in a previously unexplored area approximately 600 metres to the west of the main Augustus prospect, between Augustus and the Beluga lithium zones. This new area, between the main prospects, sits within the prospective structural corridor that was interpreted by the Quebec Geologic survey to possess similar mineral potential as the North American lithium mine (NAL) geology. The company's airborne geophysical survey completed in 2022 also supports this geologic continuity (please visit the company's website for a detailed geological map).

Highlights:

• Drill hole LC23-60 intersected two lithium pegmatites as follows:
  • The upper pegmatite intersected 2.75-metre-wide zone with average 2,810 parts per million (ppm) lithium (Li), or 0.6 per cent lithium oxide (Li2O), at 78 m drilled depth, including one-metre-wide zone with 1.34 per cent Li2O at 78.75 m depth. There are highly anomalous values of other rare metals in this section with averages of: 140.67 ppm beryllium (Be), 53.94 ppm cesium (Cs), 59.2 ppm niobium (Nb), 1,033.33 ppm rubidium (Rb) and 72.23 ppm tantalum (Ta).
  • At 87.1 m, a two m wide pegmatite averaged 5,190 ppm Li, or 1.12 per cent Li2O, which included a one-metre-wide zone with 1.51 per cent Li2O at 88.1 m depth. Anomalous values of other rare metals in this section include averages of: 177.5 ppm Be, 46.15 ppm Cs, 85.6 ppm niobium (Nb), 1,550 ppm Rb and 79.65 ppm Ta.
  • A few other pegmatite intercepts are over 500 ppm Li.
• Drill hole LC23-61 intersected a 2.3 m wide lithium pegmatite with average 2,467 ppm Li, or 0.53 per cent Li2O, at 207.7 m drilled depth. There are anomalous values of other rare metals in this section with averages of: 133.67 ppm Be, 26 ppm Cs, 97.83 ppm Nb, 816 ppm Rb and 66.8 ppm Ta. The drill hole was ended when still in mineralization due to technical problems in drilling.
• Drill hole LC23-60 was drilled at location 5367532 north, 286532 east, UTM (Universal Transverse Mercator) NAD (North American Datum) 1983 Zone 18N, at azimuth 38.6 degrees and dip minus-47.7, with a drilled depth of 176 m.
• Drill hole LC23-61 was drilled at location 5367931 north, 286681 east, UTM NAD 1983 Zone 18N, at azimuth 227.2 degrees and dip minus-56.7, with a drilled depth of 196 m.

"We are extremely pleased with the results of drill holes LC23-60 and LC23-61 from this exploratory stepout drill program west of the Augustus lithium property. These holes were strategically placed to test for the continuity of lithium pegmatites between our two main prospects. Based on our work, our pegmatite occurrences appear to be an along-strike extension of the North American lithium mine (NAL) located to the east of our Augustus property. These encouraging results reinforce our confidence in the lithium potential of our Augustus lithium project. We remain committed to advancing our exploration efforts within this promising corridor," states Gurminder Sangha, chief executive officer of FE Battery Metals.

To date, a total of 61 drill holes with a cumulative core drilling of over 12,000 m have been completed on the property. The drill core is logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks are being inserted at industry-standard intervals.

The samples were bagged and tagged using best practices and were delivered to Activation Laboratories (Actlabs), Ancaster, Ont., for sample preparation and analyses using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2). Actlabs is an independent, commercial, accredited, ISO-certified laboratory.

Afzaal Pirzada, PGeo, geological consultant of the company, and a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

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