Mr. Tyrone Docherty reports

FIRST TELLURIUM ANNOUNCES 2ND TRANCHE CLOSE OF PRIVATE PLACEMENT

First Tellurium Corp. has closed the second tranche of a non-brokered private placement previously announced on Oct. 28, 2024. Under the second tranche, the company has issued 931,818 units for gross proceeds of $102,500 and 2.5 million flow-through common shares for gross proceeds of $350,000. Each unit consists of one common share and one common share purchase warrant exercisable at a price of 15 cents for a period of two years.

The remaining balance of securities available for sale under the offering will remain open until Dec. 31, 2024.

The company paid finders' fees of $17,500 in connection with the second-tranche closing to arm's-length parties.

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 550,000 units for gross proceeds of $60,500. 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. Mr. Docherty's share purchase equals 14 per cent of the second tranche.

All securities issued under this second-tranche closing are subject to a hold period expiring April 10, 2024, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

Proceeds received in connection with the offering will be utilized for exploration and other costs associated with First Tellurium's Deer Horn property and the Colorado Klondike property, as well as for general working capital purposes.

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, non-government organizations, 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.