Mr. Gurminder Sangha reports

FE BATTERY METALS INTERSECTS MULTIPLE LITHIUM PEGMATITE ZONES IN MOST RECENT DRILLING AT THE AUGUSTUS LITHIUM PROPERTY

FE Battery Metals Corp. has released results of drill hole LC23-63 from the current 2023 drill program at its flagship Augustus lithium property in Quebec, Canada.

Drill hole LC23-63 was drilled at the main Augustus zone. In total, the drill hole intersected six separate lithium-bearing zones, which, in total, have a composite length of 38.48 metres.

New sampling of the host rock (or wallrock) in contact with the pegmatite bodies was found to contain lithium mineralization and that there is an observed correlation with higher lithium, cesium and rubidium values to higher nickel and chromium values in these rocks.

Understanding the degree of the host rock mineralization could provide a useful guide for further exploration and resource-building work at the project. If the host rock has been mineralized, likely by hydrothermal fluids, it may lead to a significant increase in potential lithium resource at the project. These lithium exomorphic halos are documented to extend from two m to five m or more in the country rock in other lithium-pegmatite occurrences.

Highlights (see an attached table for details):

• Lithium pegmatite No. 1 intersected a 3.88-metre zone with 0.37 per cent lithium oxide at 115.49 m drilled depth. In addition, there are anomalous values of other rare metals, such as beryllium in the range of 35 to 370 parts per million, cesium of 11.4 to 2,070 ppm, niobium of 30 to 81.2 ppm and tantalum of 24.7 to 113 ppm.
• Lithium pegmatite No. 2 intersected an eight-metre-wide zone with 1.0 per cent Li2O at 179.7 m drilled depth, including a four m section of 1.61 per cent Li2O at 181.5 m. In addition, there are anomalous values of other rare metals, such as Be in the range of 10 to 444 ppm, Cs of 15.1 to 489 ppm, Nb of 7.4 to 105.5 ppm and Ta of 3.4 to 96.1 ppm.
• Lithium pegmatite No. 3 intersected a 2.8-metre zone with 0.3 per cent Li2O at 199 m drilled depth. In addition, there are anomalous values of other rare metals, such as Be in the range of less than three ppm to 180 ppm, Cs of 4.9 to 298 ppm, Nb of 5.9 to 93.1 ppm and Ta of 1.8 to 128 ppm.
• Lithium pegmatite No. 4 intersected a 5.4-metre zone with 0.75 per cent Li2O at 214 m drilled depth, including a one-metre section of 2.21 per cent Li2O at 216 m. In addition, there are anomalous values of other rare metals, such as Be in the range of nine to 314 ppm, Cs of 36.7 to 185 ppm, Nb of 6.3 to 73.4 ppm and Ta of one to 86.1 ppm.
• Lithium pegmatite No. 5 intersected an eight-metre zone with 0.69 per cent Li2O at 226.6 m drilled depth, including a 3.1 m section with 1.23 per cent Li2O at 229.4 m. In addition, there are anomalous values of other rare metals, such as Be in the range of fewer than three ppm to 451 ppm, Cs of 36.7 to 185 ppm, Nb of 6.3 to 73.4 ppm and Ta of one to 86.1 ppm.
• Lithium pegmatite No. 6 intersected a 10.4-metre zone with 0.69 per cent Li2O at 271.6 m drilled depth, including a one-metre section of 1.32 per cent Li2O at 274.6 m and a four m section of 1.09 per cent Li2O at 276.6 m. In addition, there are anomalous values of other rare metals, such as Be in the range of fewer than three ppm to 451 ppm, Cs of 36.7 to 185 ppm, Nb of 6.3 to 73.4 ppm and Ta of one to 86.1 ppm.

Drill hole LC23-63 was placed at the main Augustus zone. All reported widths are drilled widths and have not been converted into true width.

Gurminder Sangha, chief executive officer of FE Battery Metals, stated: "The Augustus main zone has returned solid results at every stage of exploration. Along with the mineralized swarm of pegmatites, we are excited about the discovery of high lithium, cesium and rubidium values in the wallrock hosting the pegmatites. This factor can change our exploration strategy and will need more assays. If successful, this will add to the potential resource footprint."

The drill core is logged and sampled at the core shack using a rock saw. A core shack is built at the village of St-Dominique du Rosaire, located approximately 50 kilometres from the property, for drill core logging, sample preparation and storage. For quality assurance/quality control, 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 in Ancaster, Ont., for sample preparation and analyses using laboratory code Ultratrace 7 and sodium peroxide fusion (Na2O2) for lithium and 1E-Ag/Ag aqua regia/ICP-OES package for silver. Activation Laboratories is an independent, ISO-certified laboratory.

Afzaal Pirzada, 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.

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