Mr. Gurminder Sangha reports

FE BATTERY METALS INITIATES BIOGEOCHEMSITRY SURVEY ON TRIX PROPERTY LOCATED IN THE GEORGIA LAKE AREA AND PROVIDES CORPORATE UPDATE

FE Battery Metals Corp. has commenced a 15-line-kilometre biogeochemistry survey on the company's newly optioned Trix lithium property.

The ground survey will consist of the collection of up to 600 samples of tree bark, needles and humus. The survey area has been selected based on previous geological investigations of fertile/lithium enriched parent granites in the area and the predicted source location of the spodumene-bearing pegmatite boulders.

The samples will be sent in batches each week to Activation Laboratories (Actlabs) in Thunder Bay, Ont., and analysis will be finalized at Activation Laboratories in Ancaster, Ont. The samples will be analyzed by Actlabs' biogeochemistry 2D-ICPMS method for vegetation ash to report concentrations of 59 elements. The company will use the biogeochemistry data to assess lithium concentrations, as well as pathfinder elements, to define exploration targets for follow-up prospecting, bedrock trenching and drill hole targeting.

Project summary

The property has since been expanded to encompass approximately 20,000 hectares located in a prolific lithium exploration area, in which junior mining company Rock Tech Lithium has an established lithium resource advanced to a prefeasibility study. The Trix property road is accessible and is located four kilometres south of Rock Tech Lithium's MNW lithium deposit.

Historically, Ontario Geological Survey (OGS) geologists discovered a 10-tonne spodumene pegmatite boulder along with small spodumene-bearing fragments located in a creek on the Trix lithium property. Glacial geologists determined the potential source direction and displacement as two kilometres from the boulder. Due diligence sampling was undertaken in the claim region in the fall of 2022, and multiple assays returned over 1.0 per cent lithium oxide (Li2O) with a high of 5.48 per cent Li2O. The company intends to carry out extensive surface sampling and other exploration work to find the source of the high-grade lithium occurrences.

The spodumene-bearing pegmatites of the Georgia Lake area were first discovered in 1955. Subsequent to the initial discovery, numerous claims were staked, and additional lithium deposits were subsequently located. While some work was conducted in ensuing decades, the majority of historical exploration was completed in 1955 to 1958; however, recent advancements in the electric vehicle market have turned the Georgia Lake area into a very active exploration district.

Alex Pleson, PGeo, geological consultant of the company, 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.

Corporate update

The company is pleased to announce a non-brokered private placement of two million flow-through shares for gross proceeds of $1.25-million by issuing: (i) Quebec FT shares at a price of 64 cents per share; (ii) national FT shares at a price of 61 cents per share.

In connection with the above-noted non-brokered private placement, a finder's fee may be paid to eligible finders in accordance with the policies of the Canadian Securities Exchange. Closing of the proposed private placement is subject to obtaining all required approvals, including from the CSE and any other regulatory approval. The securities will be subject to a four-month hold period plus one day under applicable securities laws.

Lastly, FE Battery intends to grant incentive stock options and restricted share units to certain directors and consultants of the company in accordance with its stock option plan and RSU plan. A total of 1.5 million stock options were issued and are exercisable at a price of 59 cents per share. A total of 550,000 RSUs were issued to certain directors and consultants of the company. Both the stock options and RSUs vest immediately, and are subject to the statutory four-month hold period plus one day under applicable securities laws.

We seek Safe Harbor.