Mr. Tyrone Docherty reports

FIRST TELLURIUM CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

First Tellurium Corp. has closed the first tranche of a non-brokered private placement previously announced on Sept. 11, 2023. The company has issued 1.69 million flow-through shares at a price of 12 cents per share for gross proceeds of $202,800 and 1.89 million units at a price of 10 cents per unit for gross proceeds of $189,000. Each unit consists of one common share and one common share purchase warrant exercisable at 15 cents for a period of two years following the close of the offering.

Proceeds arising from the sale of the flow-through shares will help finance drilling and other exploration at First Tellurium's Deer Horn project in 2024. Proceeds arising from the sale of the units will be utilized for exploration and maintenance on the Colorado Klondike property and for unallocated working capital.

Tyrone Docherty, president, chief executive officer and a director of the company, participated in the offering through the purchase by his private company, Docherty Capital Corp., of one million flow-through shares for gross proceeds of $120,000. Participation by the insider in the offering is considered a related party transaction pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insider's participation in the offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insider did not exceed 25 per cent of the fair market value of the company's market capitalization. The company did not file a material change report at least 21 days prior to the closing of the offering as participation of the insider had not been confirmed at that time.

The company paid a finder's fee of $5,000 in connection with the first tranche closing to an arm's-length party.

Mr. Docherty's share purchase equals 30 per cent of the first tranche funding. "First Tellurium is in the best situation of its entire history," said Mr. Docherty. "With this season's success and discoveries at Deer Horn, along with developments in our thermoelectric venture, I continue to invest in, and support, our business model. I am also purchasing shares, which I consider highly undervalued, in the open market as shown in the company's insider reports."

About First Tellurium Corp.

First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and co-operative access to untapped mineral regions in indigenous territory with sustainable exploration.

The company's polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with indigenous peoples, NGOs (non-government organiations), governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.

We seek Safe Harbor.