Mr. Gurminder Sangha reports

FE BATTERY METALS CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

FE Battery Metals Corp. has closed the first tranche of the previously announced non-brokered private placement for gross proceeds of up to $1-million. As part of the closing of the first tranche, the company will issue 1,739,130 common shares at a price of 23 cents per share for gross proceeds of $400,000 and will pay 6 per cent in finders' fees of $23,400.

Final closing of the private placement is subject to obtaining all required approvals, including from the Canadian Securities Exchange, and any other regulatory approval. All securities issued in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The proceeds from the private placement will be used for general working capital and to its further exploration efforts on its properties located in Quebec.

The company has also granted incentive stock options to certain directors, officers and consultants to purchase up to an aggregate of 1.2 million common shares under the company's incentive stock option plan. The options will be exercisable for a period of two years at an exercise price of 18 cents per share. The stock option grant will be subject to a four-month hold period and is subject to Canadian Securities Exchange approval.