First Energy Metals Drills Two Intercepts of 1.76 and 1.18 Percent Lithium Oxide Over 5.6- and 6.12-meters in Dril Hole LC21-29 at Augustus Lithium Property

VANCOUVER, Nov. 4, 2021 - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce results of drill hole LC21-29 at its Augustus Lithium Property in Quebec, Canada. The drill hole intercepted two lithium pegmatites where the top intercept is 1.18 percent (%) lithium oxide (Li2O) over 6.12 metres at 148.48 metres (m) drilled depth, and the lower intercept is 1.76% Li2O over 5.6 metres at 158.4 metres drilled depth. Bothe mineralized intercepts are only 4.2 meters apart from each other. There are anomalous values of other rare metals including niobium (Nb), rubidium (Rb), tantalum (Ta), beryllium (Be), and cesium (Cs) (see Table 1 for details).

Highlights

Upper Intercept (Total 6.12 m from 148.48m to 154.6m)

• Lithium oxide values are in the range of 0.65% to 2.41% Li2O with an average of 1.18% Li2O over 6.12 m.
• Beryllium is in the range of 87 parts per million (ppm) to 204 ppm.
• Cesium is in the range of 29 ppm to 94 ppm.
• Niobium is in the range of 75.4 ppm to 143.7 ppm.
• Rubidium is in the range of 354 ppm to 1,820 ppm.
• Tantalum is in the range of 49.6 ppm to 110 ppm.

Lower Intercept (Total 5.6 m from 158.4m to 164 m)

• Lithium oxide values are in the range of 0.23% to 2.80% Li2O with an average of 1.76% Li2O over 5.6 m.
• Beryllium is in the range of 151 ppm to 441 ppm.
• Cesium is in the range of 30.8 ppm to 69.2 ppm.
• Niobium is in the range of 72.1 ppm to 101.5 ppm.
• Rubidium is in the range of 127 ppm to 1,430 ppm.
• Tantalum is in the range of 68.8 ppm to 100 ppm.

Drill hole LC21-29 was drilled at location: 287182.82E, 5367943.92N (NAD 1983 UTM Zone 18N), Azimuth 205.35 degrees, Dip -50.4 degrees with a total drilled depth of 291m. All intersections reported are based on drilled width and have not been converted to the true width.

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 and sodium peroxide fusion (Na2O2) as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

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 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.".

ON BEHALF OF THE BOARD OF
First Energy Metals Ltd.

"Gurminder Sangha"
Gurminder Sangha
President & Chief Executive Officer

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: Drill Hole LC21-29 Sample assays highlights

Note: A standard conversion factor of 2.15 was used to report Li to Li2O values
All intersections reported are based on drilled width and have not been converted to the true width.

SOURCE First Energy Metals Ltd.