Mr. Rob Saltsman reports

FIRST LITHIUM MINERALS ANNOUNCES DRILL TARGETS AND UPCOMING EXPLORATION PROGRAM

First Lithium Minerals Corp. has outlined priority drill targets and will commence the next phase of its exploration program at its 100-per-cent-owned OCA project in the Antofagasta region of northern Chile.

Following completion of a priority drill targets assessment the company is planning to proceed to its inaugural brine resource exploration program in the northeastern property areas at the Salar de Ascotan (approximately 1,775 hectares), which display promising geophysical characteristics based on the transient electromagnetic (TEM) and magnetotelluric (MT) geophysical surveys conducted in Q4 2022 and Q1 2023.

The initial exploration program will consider up to five boreholes to depths of up to 500 metres. Depending on lithology and hydrogeological conditions encountered, it is envisaged that the holes will be drilled with a combination of PQ and HQ core sizes using plastic liners to facilitate core recovery for geological assessment and drainable porosity analysis. Brine sampling is planned at 12 m intervals using bailer, packer, or other suitable methodology depending on lithology and hydrogeological conditions.

Rob Saltsman, chief executive officer and director of First Lithium Minerals, commented: "We are very pleased to have completed the assessment work for priority drill targets which we believe show the hallmarks of hydrogeological conditions typical of brine deposits in northern Chile. The drilling contractor has been contacted with the objective to commence a drilling program in the second half of the year. We also welcome the Chilean government's recent announcements to develop a plan for the development of lithium projects in a partnership format, where environmental sustainability and social licensing play key roles. We believe our project fits the criteria and have engaged with related parties to explore opportunities of forming a potential partnership that can expedite the development of our project."

The company is expecting to commence a drilling program in the second half of 2023, conditional upon obtaining required government permits, licences and agreements.

About First Lithium Minerals Corp.

First Lithium Minerals is a Canadian mineral exploration and development company. The company is currently focusing on exploring for alkali metals at its 100-per-cent-owned OCA project comprising approximately 9,000 ha of mineral exploration concessions located in the salars of Ollague, Carcote and Ascotan in the Antofagasta region of northern Chile. In Q4 2022 and Q1 2023 the company conducted two property-wide geophysical surveys, identified two priority exploration targets for potential brine mineralization and is currently planning an inaugural drilling program at the Salar de Ascotan pending obtaining required drilling permits and licences.

Qualified person

Frits Reidel, consulting hydrogeologist, CPG, who is a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical content of this press release.

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