First Energy Metals Cuts 1.20 Percent Lithium Oxide Over 4 Meters in Channel Samples From Augustus Lithium Property

VANCOUVER, May 4, 2021 - First Energy Metals Ltd. (CSE: FE) (OTCQB: FEMFF) ("First Energy" or the "Company) is pleased to announce assay more results from the channel sampling program at its Augustus Lithium Property in Quebec, Canada. The "Channel 21-2E" samples at the Beluga Pegmatite of the Canadian Lithium Prospect cut a 31-meter-wide section with an average of 0.37% lithium oxide (Li2O) which includes 4 meters of spodumene pegmatite at 1.20 percent Li2O. The pegmatite is still continuous along width to the north where three individual samples each 1 m width assayed 0.06% to 2.25% Li2O. Iron content in samples is less than one percent and there are anomalous values of other rare elements such as niobium and tantalum.

Channel 21-2E - Highlights of Assays (For 31 m wide Section, see Table 1 for details)

• Lithium oxide (Li2O) values are in the range of 0.03 percent (%) to 2.13% with an average of 0.34% Li2O including a section with 1.20% Li2O over 4m.
• Lithium (Li) values are in the range of 120 ppm (parts per million) to 9,999 ppm (0.99%) with an average of 1,724.81 ppm, including 4m section having average of 5,602.25 ppm (0.56% Li).
• Beryllium (Be) values are in the range of 105 ppm to 552 ppm with an average of 260.81 ppm.
• Niobium (Nb) is in the range of 33.0 ppm to 136.9 ppm with an average of 74.88.
• Tantalum (Ta) is in the range of 18.9 ppm to 128 ppm with an average of 62.16 ppm.
• Iron (Fe) is in the range of 0.33% to 0.88% with an average of 0.53%.
• Cesium (Cs) is in the range of 24.5 ppm to 120 ppm with an average of 73.21 ppm.
• Rubidium (Rb) is in the range of 403 ppm 3,480 ppm with an average of 1,936 ppm.

The ground exploration work has been continuous since February 2021 and its purpose is to locate and confirm historical lithium pegmatite occurrences on two lithium prospects (Augustus and Canadian Lithium Prospects), to locate historical drill holes on the Property completed in 1950's, and to support the ongoing drill program. The pegmatite outcrops are exposed using an excavator. The field exploration is continuous, and more channel sampling is being carried out on the exposed outcrops. The surface channel sampling will also help in resource estimation to tie up potential lithium pegmatite zones intercepted in drill holes to the surface.

Gurminder Sangha, CEO of First Energy Metals stated that, "We are pleased with the work progress of our project team who is doing a commendable job while keeping themselves safe in this global pandemic situation. The drilling crew is also working efficiently and giving good production. The Company will update on the drilling results as soon as available".

Each channel sample from this work represents one meter long, 5 cm wide and 3-5 cm deep cut in bedrock. The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

Code Ultratrace 7 - Peroxide Fusion - ICP and ICP/MS
Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.

ICP-MS
Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.

ICP-OES
Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10^th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/

Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About the Augustus Lithium Property

The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d'Or on map sheets 32C/05 and 32D08. The newly acquired Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the Property during 1950s. Several drill hole results indicated intersections over 1% lithium oxide. All this data will help in the current exploratory drill program and building a data base for NI 43-101 resource estimation".

About First Energy Metals Ltd..

First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.

The company's strategy is to:

• Acquire and advance projects through prospecting and early-stage exploration;
• Source joint venture partners to finance future exploration and project development;
• Create shareholder value through exploration success.

First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.

ON BEHALF OF THE BOARD OF
First Energy Metals Ltd.

"Gurminder Sangha"
Gurminder Sangha
Chief Executive Officer & Director

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Table 1: Sample assay highlights

SOURCE First Energy Metals Ltd.