Mr. Tyrone Docherty reports

FIRST TELLURIUM'S PYRODELTA ENERGY SIGNS LOI WITH FENIX ADVANCED MATERIALS FOR SUPPLY OF HIGH-PURITY CRITICAL METALS

Fenix Advanced Materials has signed a letter of intent (LOI) with First Tellurium Corp.'s 75-per-cent-owned subsidiary, PyroDelta Energy Corp., to be the preferred supplier of tellurium and other critical metals for manufacture of PyroDelta's thermoelectric generators. As previously reported by First Tellurium, PyroDelta is developing thermoelectric generators that offer significant advantages over thermoelectric devices currently on the market, including far higher heat tolerances, lighter weight and more robust construction.

"We're very excited about the broad market potential for PyroDelta's thermoelectric technology," said Fenix chief executive officer Don Freschi. "Our intent is to ensure they have a stable, North American supply of all the critical metals required to succeed long term."

As part of the LOI agreement, Fenix will also provide other technical or materials support, as required, to help PyroDelta bring the generators to market and sustain continuing manufacturing and sales. Fenix, based in Trail, B.C., is one of few suppliers in the world producing metals with purities as high as 99.99995 per cent.

"This agreement marks a crucial step in development and manufacturing for PyroDelta as we progress towards securing our initial sales," said First Tellurium president and chief executive officer Tyrone Docherty. "We're especially pleased to be using a domestic critical metals supplier, greatly reducing our chances for supply disruption and keeping the business within North America."

Mr. Docherty noted that, considering China's Dec. 3 announcement that it would begin banning the export of certain rare minerals to the United States, securing domestic supplies of critical metals becomes more important.

"China is the world's largest producer of tellurium, by far," said Mr. Docherty. "And while China hasn't yet indicated intent to restrict tellurium exports, they have that leverage and could certainly use it as this trade war expands. The thermoelectric device requires other critical metals, as well, that could be affected with the latest export bans. In any event, we want to reduce our supply-chain risk while we can."

PyroDelta is presently focused on building thermoelectric generators for the automobile industry, developing a device designed to replace alternators in combustion engines and offer significant savings in fuel consumption. Concurrently, PyroDelta is also developing compact, silent and portable generators for the emergency and recreational industries as well as for agriculture and drone use in industry and defence.

Cancellation of annual general meeting

First Tellurium also announces that it has cancelled its annual general meeting (AGM) scheduled for Dec. 31, 2024, and it has been granted an extension by B.C. Registrar of Companies due to the continuing Canada Post strike action. The company plans to hold its meeting in Q2 2025 and will advise shareholders when a new date has been scheduled.

About First Tellurium Corp.

First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and development of tellurium-based technologies.

First Tellurium is listed on the Canadian Stock Exchange under the symbol FTEL and on the OTC under the symbol FSTTF.

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