FE Battery Metals Drills 1.05 Percent Lithium Oxide Over 8.75 Meters at Augustus Lithium Property

VANCOUVER, April 23, 2024 - FE Battery Metals Corp. (CSE:FE)(OTCQB:FEMFF)(WKN:A2JC89), (" FE Battery Metals" or the " Company ) is pleased to announce results of Drill Holes LC23-88 from 2023 exploratory drill program at its Augustus Lithium Property in Quebec, Canada ("Property"). The drill hole LC23-88 intersected three spodumene-bearing lithium pegmatites of variable widths and grades, including one intercept of 1.05 percent (%) lithium oxide (Li2O) over 8.75 metres (m) at 90.25 m drilled depth. There are anomalous values of other rare metals such as beryllium (Be), cesium (Cs), niobium (Nb), tantalum (Ta) and rubidium (see Tables 1 for details).

Highlights

The top, Number 1 Pegmatite intersected 1.18% Li2O over 3 metres at 43.6 m drilled depth. There are anomalous values of other rare metals in this section with an average of 161 parts per million (ppm) Be, 66.63 ppm Cs, 50.47 ppm Nb, 221.73 ppm Rb and 99.29 ppm Ta.

The middle, Number 2 Pegmatite intersected 1.18 % Li2O over one meter at 57 m drilled depth. There are anomalous values of other rare metals in this section with 227 ppm Be, 19.60 ppm Cs, 71.80 ppm Nb, and 102 ppm Ta. Another one-meter section below this pegmatite intersected biotite schist rocks with 0.53% Li2O, 1,920 ppm Cs, and over 5,000 ppm rubidium.

The bottom, Number 3 Pegmatite, intersected 1.05 % Li2O over 8.75 m at 90.25 m drilled depth. Other rare metals in this section have anomalous values, with an average of 110.33 ppm Be, 49.78 ppm Cs, 83.60 ppm Nb, 1,358.67 ppm Rb, and 75.20 ppm Ta.

Drill hole LC23-88 was drilled at location 5367788.33N, 287244.25E, UTM NAD 1983 Zone 18N, at azimuth 227.42 degrees and dip -74.5 with a drilled depth of 183 m. The drill hole was placed at the main Augustus zone.

The drill program is based on the historical and current exploration data. The drill program was contracted to Forage Hebert Inc. Drilling of Amos, Quebec. A B-20 drill rig is deployed for this work. A core shack is built at the village of St-Dominique du Rosaire, located about 50km from the Property, for drill core logging, sample preparation and storage. To date, a total of 89 drill holes with a cumulative diamond drilling of 16,607.64 m have been completed on the Property. The drill core is logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks are being inserted at industry standard intervals.

The samples were bagged and tagged using best practices and delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario, for sample preparation and analyses using laboratory code Ultratrace 7 and sodium peroxide fusion (Na2O2), 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.

Lastly, FE Battery Metals intends to grant 2,000,000 restricted share units ("RSUs") under the Company's shareholder-approved restricted share unit plan (the "RSU Plan") to certain consultants and directors. The RSUs granted shall vest over 8 months from the date of grant. Each RSU entitles the holder to receive one common share of the Company.

ON BEHALF OF THE BOARD OF

FE Battery Metals Corp.

"Gurminder Sangha"
Gurminder Sangha
CEO & Director

For further information, please contact the Company at: info@febatterymetals.com

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 LC23-88 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: FE Battery Metals Corp.