Foremost Lithium Commences Exploration in Preparation for Drilling at The Jean Lake Lithium Property and the Bulk Sampling of Dyke 1 on The Zoro Lithium Property, Snow Lake, Manitoba

June 08, 2022 at 03:30 AM EDT

Vancouver, British Columbia--(Newsfile Corp. - June 8, 2022) - Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) (www.foremostlithium.com) ("Foremost Lithium, Foremost or the Company") is pleased to announce that they have commenced exploration that will lay the ground work for a diamond drill program on their 100% owned Jean Lake Lithium Property situated in the mine-friendly district of Snow Lake, Manitoba. The first step of this process includes the mobilizing of field crews to their 1,002 hectare/2,476-acre property where the beryl high-grade spodumene-bearing pegmatite dykes with assays of 3.89% and 5.17% Li₂O were uncovered in August 2021, (see news release October 28, 2021). Field work will be staged from a base in Snow Lake with helicopter support from Gogal Air Services.

Exploration Program

Two field crews will commence follow-up prospecting of fourteen (14) high priority targets defined as magnetically low and structurally recessive lineaments. These lineaments host the beryl pegmatites, are in part on trend with the SGM and Grass River lithium pegmatites of Snow Lake Resources and are interpreted as high priority exploration targets. The lineaments were defined by an Unmanned Aerial Vehicle (UAV Drone) assisted high-resolution geophysical survey and Centre of Exploration Targeting "CET" analysis of the acquired data (see March 1, 2022, news release). The survey was flown by EarthEx Geophysical Solutions Inc. (Selkirk, Manitoba) with financial support from the Manitoba Mineral Development Fund.

The lineaments will be prospected and rock chip sampled and assayed for lithium and related elements where exposure is permissive. Where the lineaments are overburden covered, Mobile Metal Ion ("MMI") soil geochemical surveys will be initiated. Rock and soil geochemical data will be reported in a subsequent news release and ultimately integrated with magnetic survey results to form the basis for drill testing.

Dyke 1 Mini-Bulk Sample

A field crew will also be dispatched to the Zoro Lithium Project in Snow Lake for the acquisition of a 500 kg bulk sample from the trenched surface exposure of Dyke 1 on the Zoro lithium property. Dyke 1 contains 1,074,567 tonnes at 0.91% Li₂O, 182 ppm Be, 198 ppm Cs, 51 ppm Ga, 1212 Rb, and 43 ppm Ta at a 0.3% Li₂O cut-off.¹ The sample will be used for the development of a spodumene concentrate and subsequent refining into a saleable battery-grade lithium hydroxide product. The Company has contracted XPS Expert Process Solutions in conjunction with SGS Canada Inc. to undertake the processing of the sample. (see news release May 26, 2022). Results are expected within three months.

John Gravelle, of Foremost states, "We are excited to report that crews are currently on the ground at Jean Lake scoping the 14 identified priority drill targets. Past magnetic interpretation has shown that our beryl pegmatites, which assayed at 3.89% and 5.17% Li20, trending along Snow Lake Lithium's high-grade SG and GRP spodumene and GRP pegmatites. This association, along with boots-on-the-ground, to ensure accuracy of our targets, has imparted great enthusiasm. We are so encouraged at the potential of this property, the company now plans to run two teams operating separate drill rigs simultaneously." John Gravelle continues, "We also are very much looking forward to the results from Zoro's Dyke1 bulk sample, as this crucial catalyst, proving 6% battery-grade lithium hydroxide will be an important milestone, and thus, helping propel shareholder value as we market to potential battery-makers and important partners, globally."

Technical information relating to the Jean Lake Property contained in the news release has been approved by Lindsay Bottomer, P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Technical information relating to the Zoro Property contained in the news release has been approved by Mark Fedikow, P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Foremost Lithium Resource & Technology

Foremost Lithium is a resource company driven to become one of the first North American Companies to produce high quality battery-grade lithium hydroxide domestically to fuel the electric vehicle and battery storage market. Given the importance and global focus on increasing energy decarbonization, especially with electric vehicles, the Company is hyper-focused on continued exploration and growth on its four lithium properties: Jean Lake, Grass River, and Zoro, located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost also holds its Winston Gold/Silver Project in New Mexico, USA.

For Further Information Please Contact:

IR@foremostlithium.com
Foremost Lithium Resource &Technology
1 604 330-8067

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Forward Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Foremost within the meaning of applicable securities laws. Foremost provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to market conditions, exploration findings, results, and recommendations, as well as those risks and uncertainties identified and reported in Foremost's public filings under Foremost's SEDAR profile at www.sedar.com. Although Foremost has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Foremost disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise unless required by law.

¹ https://sedar-filings-backup.thecse.com/00032046/1809051817578606.pdf

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126876

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Foremost Lithium Commences Exploration in Preparation for Drilling at The Jean Lake Lithium Property and the Bulk Sampling of Dyke 1 on The Zoro Lithium Property, Snow Lake, Manitoba

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