Mr. Gurminder Sangh reports

FE BATTERY METALS CUTS 1.15 PERCENT LITHIUM OXIDE OVER 14.7 METERS IN CHANNEL SAMPLES FROM AUGUSTUS LITHIUM PROPERTY

FE Battery Metals Ltd. has successfully exposed a part of the main Augustus prospect lithium pegmatite system through stripping and channel sampling. Outcrop No. 26 was discovered on the east side of main Augustus prospect area where a lithium-rich pegmatite cuts 14.7 metres at 1.15 per cent lithium oxide (Li2O). The main Augustus pegmatite is mainly a blind lithium deposit with very few surface exposures. This newly exposed outcrop No. 26 will help the company to understand geology, structure and trend of the main potential deposit area to develop further drill targets.

To date, the company has drilled 68 drill holes with over 15,000 metres of NQ-size diamond drilling on the property and has intercepted multiple lithium pegmatite dikes of variable lengths, widths and lateral continuity. The company has further explored the newly discovered lithium pegmatite zones in two areas to the southeast of the Augustus prospect which are located near the North American Lithium mine (see the company's news release dated Aug. 15, 2023).

A part of the current prospecting and sampling work included other lithium prospects on the Augustus property which included Lac Fiedmont, the Vallee prospect and Duval lithium with an aim to find more exploration targets for future work.

Assay highlights:

• Outcrop No. 26, which is a part of the Augustus prospect, cuts 14.7 m at 1.15 per cent Li2O (0.535 per cent Li). There are anomalous values of other rare metals such as 181 parts per million or ppm beryllium (Be), 41.69 ppm cesium (Cs), 75.76 ppm niobium (Nb), 1,413 ppm rubidium (Rb) and 49.33 ppm tantalum (Ta). One grab sample from outcrop No. 26 returned 1.92 per cent Li2O (0.895 per cent Li).
• Outcrop No. 900 near the North American Lithium mine (NAL) cuts 10 m at 0.52 per cent Li2O (0.24 per cent Li) with other rare metals including 139.3 ppm Be, 74.41 ppm Cs, 57.02 ppm Nb, 1,932 ppm Rb and 37.57 ppm Ta. Nine grab samples from this outcrop returned lithium values in the range of 0.004 per cent to 1.18 per cent Li2O. The company has planned to drill this zone during the current drilling program after finishing the targeted drilling work at the main Augustus prospect.
• Four grab samples collected from the Lac Fiedmont area returned low lithium values.
• Six grab samples collected from the Duval lithium prospect returned high lithium values in the range of 0.004 per cent to 2.15 per cent Li2O with average 1.14 per cent Li2O. The company will expand its exploration efforts on this higher-lithium-value area.
• Nineteen grab samples from Bella prospect near NAL mine returned lithium values in the range of 0.005 per cent to 1.26 per cent Li2O with anomalous values of other rare metals. This zone will also be drilled during the current drilling program.

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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