Mr. Rob Saltsman reports

FIRST LITHIUM MINERALS INCREASES PROSPECTIVE GROUND IN NORTHWESTERN ONTARIO AND ISSUES STOCK OPTIONS

First Lithium Minerals Corp. has expanded its LSL project and added exploration properties in Northwestern Ontario through acquisition and direct staking totalling 175 mining claims covering 3,573 hectares.

Expansion of LSL project

The expansion of the company's LSL project in the Patricia mining district of Northwestern Ontario consisted of acquisition of two mining claims groups, the Solitude Lake and Hillside Lake claims groups. The groups lie southwest and southeast of the LSL project mining claims, respectively. The newly acquired claims are located approximately 40 kilometres north of Savant Lake, Ont., and accessible via Provincial Highway 599 and logging roads. The claims groups' area is underlain by Archean rocks of the northeastern extension of the Savant Lake greenstone belt, metasedimentary and foliated tonalite units, and on strike of the primary geological control structures of the northern boundary of the Wabigoon subprovince of the Superior province. Historical exploration activities in the southwestern claims group located in the township of Solitude Lake area included geologic mapping, ground geophysical surveys, lake sedimentary geochemical surveys, line cutting and core drilling. Pegmatite dikes were observed in line cutting exploration (source: assessment file 52J10SE0016, Ontario Geological Survey) and units of pegmatites were identified in historical drilling intercepts (source: assessment file 52J10SE0005, Ontario Geological Survey).

Newly acquired Lidstone exploration property

The Lidstone exploration property is located in the Thunder Bay mining division of Northwestern Ontario, approximately 120 km northeast of the town of Armstrong, Ont., and accessible via logging roads. The Lidstone mining claims group lies within the central portion of the English River subprovince of the Superior province. Although primarily unexplored, historical exploration work in the area indicated the presence of mafic-ultramafic intrusive rocks hosting anomalous Ni-Cu-PGE (nickel-copper-platinum group element) mineralization (MDI000000000142, primary commodity: nickel, copper; secondary commodity: cobalt, platinum metals, Sim Lake occurrence, Ontario Geological Survey) with anomalous lake geochemistry lithium (Li) grade clusters. Historical drilling on the Lidstone claim block showed shallow noticeable intercepts of biotite and diorite (DDH-TR06-007, assessment file 20000002847, Ontario Geological Survey), which could be considered as pathfinders for a magmatic Ni-Cu-PGE sulphide mineralization. The prospect area also exhibits coincident magnetic abrupt highs and lows, and zones of high electromagnetic (EM) conductance.

The purchase price for the acquired mining claims is the issuance of four million common shares and a cash payment of $50,000 to the vendor of the claims. The common shares will be subject to a statutory hold period expiring four months and one day from the date of issuance in accordance with applicable securities legislation.

Rob Saltsman, chief executive officer and director of First Lithium Minerals, commented: "We feel very fortunate in adding new mining claims, which double our exploration ground at the LSL project, and the addition of Lidstone, our new exploration property with prospectivity for critical metals such as nickel and copper, in addition to lithium. Our technical team is anxious to commence reconnaissance fieldwork on the new exploration properties in 2024 in hopes of uncovering its exploration potential."

The company is planning to conduct reconnaissance exploration and geologic mapping, including geophysical and geochemical surveys, at the acquired mining claims during the 2024 field season.

Stock option grant

The company has granted a total of 4.35 million stock options to management, directors and consultants, pursuant to its stock option plan. Each option is exercisable into a common share at an exercise price of eight cents per share for a period of five years.

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 hectares 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. First Lithium Minerals is also exploring for lithium and critical metals at its 100-per-cent-owned exploration properties composed of 5,640 hectares of mining claims in Northwestern Ontario, Canada.

Qualified person

Adrian Smith, PGeo, is a qualified person as defined by National Instrument 43-101, and is a registered professional geoscientist (PGeo). Mr. Smith has reviewed and approved the technical information disclosed herein.

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