FE Battery Metals Locates New Pegmatite Zone Extending the Augustus Lithium Prospect

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FE Battery Metals Ltd. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) (“FE Battery Metals” or the “Company) is pleased to announce results of Drill Holes LC23-60 and LC23-61 from the 2023 exploratory drill program at its Augustus Lithium Property in Quebec, Canada.

These drill holes intersected lithium-bearing pegmatites in a previously unexplored area approximately 600 metres to the west of the main Augustus Prospect, between Augustus and the Beluga Lithium zones. This new area, between the main prospects, sits within the prospective structural corridor that was interpreted by the Quebec Geologic survey to possess similar mineral potential as the North American Lithium Mine (NAL) geology. The Company’s airborne geophysical survey completed in 2022 also supports this geologic continuity (See Figure 1 below)

Figure 1: Geological map of the area showing mapped pegmatites in the area (Source: MERN, QC)

Highlights (see Tables 1&2 for details)

  • Drill hole LC23-60 intersected two lithium pegmatites as follows:
    • The upper pegmatite intersected 2.75 m wide zone with average 2810 parts per million (ppm) lithium (Li) or 0.60% lithium oxide (Li2O) at 78 m drilled depth; including one-metre-wide zone with 1.34% Li2O at 78.75 m depth. There are highly anomalous values of other rare metals in this section with average 140.67 parts per million beryllium (Be), 53.94 ppm cesium (Cs), 59.20 ppm niobium (Nb), 1,033.33 ppm rubidium (Rb) and 72.23 ppm tantalum (Ta).
    • At 87.1m a 2 m wide pegmatite averaged 5190 ppm Li or 1.12% Li2O; which included a one-metre-wide zone with 1.51% Li2O at 88.1 m depth. Anomalous values of other rare metals in this section with average 177.50 ppm Be, 46.15 ppm Cs, 85.60 ppm niobium (Nb), 1,550 ppm Rb and 79.65 ppm Ta.
    • A few other pegmatite intercepts are with over 500 ppm Li.
  • Drill Hole LC23-61 intersected a 2.3 m wide lithium pegmatite with average 2,467 ppm Li or 0.53% Li2O at 207.7 m drilled depth. There are anomalous values of other rare metals in this section with average 133.67 ppm Be, 26 ppm Cs, 97.83 ppm Nb, 816 ppm Rb and 66.80 ppm Ta. The drill hole was ended when still in mineralization due to technical problems in drilling.
  • Drill hole LC23-60 was drilled at location 5367532 N, 286532E, UTM NAD 1983 Zone 18N, at azimuth 38.6 degrees and dip -47.7 with a drilled depth of 176 m.
  • Drill hole LC23-61 was drilled at location 5367931N, 286681E, UTM NAD 1983 Zone 18N, at azimuth 227.2 degrees and dip -56.7 with a drilled depth of 196 m.

“We are extremely pleased with the results of Drill Holes LC23-60 and LC23-61 from this exploratory step-out drill program west of the Augustus Lithium Property. These holes were strategically placed to test for the continuity of lithium pegmatites between our two main prospects. Based on our work, our pegmatites occurrences appear to be a along-strike extension of the North American Lithium Mine (NAL) located to the east of our Augustus property. These encouraging results reinforce our confidence in the lithium potential of our Augustus Lithium project. We remain committed to advancing our exploration efforts within this promising corridor”, states Gurminder Sangha, CEO of FE Battery Metals.

To date, a total of 61 drill holes with a cumulative core drilling of over 12,000 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 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.

ON BEHALF OF THE BOARD OF

FE BATTERY METALS CORP.

“Gurminder Sangha”

Gurminder Sangha

CEO & Director

For further information, please contact the Company at: gsangha@firstenergymetals.com or (604) 375-6005

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 LC23-60 Sample assays highlights

Analyte Symbol From To Total Width Li Li2O Be Cs Fe Nb Rb Ta
Unit Symbol ppm % ppm ppm % ppm ppm ppm
Detection Limit m m m 15 3 0.1 0.05 2.4 0.4 0.2
Analysis Method FUS-Na2O2
1158409 25.81 26.81 1 233 0.05 16 47.6 0.77 17.2 1040 30.3
1158411 26.81 27.39 0.58 22 0.00 28 13.6 0.5 37.3 528 53.9
1158412 53.7 54.6 0.9 152 0.03 20 31.8 0.5 29 777 49.8
1158413 78 78.75 0.75 1130 0.24 18 63.7 2.66 16.4 410 4.6
1158414 78.75 79.75 1 6230 1.34 179 48.5 0.8 86.6 1340 92.1
1158415 79.75 80.75 1 1070 0.23 225 49.6 0.4 74.6 1350 120
Upper Pegmatite 78.00 80.75 2.75 2810.00 0.60 140.67 53.93 1.29 59.20 1033.33 72.23
1158416 80.75 81.5 0.75 50 0.01 250 35.5 0.38 81.1 1030 77
1158417 81.5 82.04 0.54 28 0.01 19 12 0.33 73.1 525 89.6
1158418 82.04 82.54 0.5 887 0.19 27 92.1 2.2 19.2 689 12.5
1158419 86.6 87.1 0.5 1370 0.29 11 78.9 2.81 11 467 2.5
1158421 87.1 88.1 1 3380 0.73 144 45.5 0.44 92.8 1770 87.8
1158422 88.1 89.1 1 7000 1.51 211 46.8 0.46 78.4 1330 71.5
Lower Pegmatite 87.1 89.1 2 5190 1.12 177.50 46.15 0.45 85.60 1550.00 79.65
1158423 89.1 90 0.9 438 0.09 118 46.7 0.32 58.8 1980 71.1
1158424 90 90.51 0.51 1460 0.31 24 199 2.63 8.2 1180 1.8
1158425 90.51 91.04 0.53 205 0.04 173 62.8 0.68 87.2 1800 63.9
1158426 91.04 91.6 0.56 100 0.02 161 38 0.55 78.3 1500 54.2
1158427 92.76 93.76 1 121 0.03 49 39.1 0.79 64.2 1540 38.9
1158428 93.76 94.76 1 116 0.02 208 53.8 0.45 58.5 2140 48.8
1158429 94.76 95.4 0.64 115 0.02 133 34.7 0.61 99.5 1320 81.8
1158431 95.4 96.1 0.7 47 0.01 104 20.3 0.45 95.9 727 64.5
1158432 101.82 102.44 0.62 430 0.09 32 57.7 1 69.1 882 117
1158433 116.17 117 0.83 < 15 26 35.8 0.24 45.7 1740 95.7
1158434 117 177.7 60.7 111 0.02 42 48.6 0.75 70.2 1670 95.7
1158435 144.65 148.63 3.98 50 0.01 51 35.8 0.48 52.9 1670 35.1
1158436 148.63 149.39 0.76 55 0.01 37 17.5 0.57 78.4 488 50
1158437 163 164.1 1.1 < 15 242 47.7 0.57 83.8 1240 102
1158438 166 167 1 739 0.16 126 50.2 0.58 90.7 1250 96.3
1158439 167 167.57 0.57 15 0.00 223 17.6 0.4 99.4 677 79.7
1158441 173 173.85 0.85 965 0.21 149 44.2 0.74 88.7 1430 90
1158442 173.85 174.95 1.1 45 0.01 137 29.8 0.41 70.3 1020 98.5

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.

Table 2: Drill Hole LC23-61 Sample assays highlights

Analyte Symbol  Depth From  Depth To  Total Width Li Li2O Be Cs Fe Nb Rb Ta
Unit Symbol  m  m  m ppm % ppm ppm % ppm ppm ppm
Detection Limit 15 3 0.1 0.05 2.4 0.4 0.2
Analysis Method FUS-Na2O2
1158444 66.68 67.34 0.66 40 0.01 54 46.3 0.44 129.1 1980 132
1158445 67.34 67.94 0.6 22 0.00 18 23.8 0.34 69.2 887 90.5
1158446 75.72 76.08 0.36 77 0.02 18 38.7 0.39 52.6 1550 57
1158447 76.08 77.04 0.96 47 0.01 42 49.8 0.36 79.5 2230 74.3
1158448 77.04 78 0.96 89 0.02 67 33.5 0.41 95.6 1150 87.2
1158449 78 79 1 242 0.05 19 65.5 0.59 68.1 1870 73.9
1158451 79 80 1 86 0.02 108 43.8 0.36 84.3 1570 81.6
1158452 80 81 1 125 0.03 390 68.9 0.38 111.2 1670 146
1158453 81 82 1 96 0.02 205 46.9 0.44 101.4 1620 120
1158454 82 83 1 60 0.01 149 49.9 0.39 94.2 1860 100
1158455 83 83.94 0.94 34 0.01 49 31.8 0.4 93 1340 87.4
1158456 103.24 103.87 0.63 < 15 19 27.9 0.32 72.9 1220 74.8
1158457 103.87 104.83 0.96 < 15 79 25.5 0.4 72.7 954 47.9
1158458 129.64 130.64 1 26 0.01 9 11.1 0.52 18.5 254 22.4
1158459 130.64 131.64 1 < 15 64 22.6 0.35 75.4 635 139
1158461 157.94 158.4 0.46 16 0.00 184 25.2 0.38 72.1 546 96.6
1158462 175 176 1 17 0.00 165 47.1 0.32 73.5 1950 88.8
1158463 176 177 1 175 0.04 117 31.8 0.53 88 1100 77.4
1158464 177 177.92 0.92 22 0.00 83 22.3 0.4 94.2 1070 49.2
1158465 191.2 191.74 0.54 < 15 40 32.8 0.36 201.1 1970 81.3
1158466 192.59 193.59 1 < 15 21 16.8 0.33 48.3 920 31.1
1158467 193.59 194.68 1.09 30 0.01 189 20.5 0.46 67.2 1080 41.9
1158468 195 196.1 1.1 152 0.03 129 45 0.86 59 1410 60.2
1158469 196.9 197.53 0.63 76 0.02 42 34.3 0.66 59.7 1310 41.3
1158471 198.7 199.7 1 110 0.02 13 49 0.54 62.4 2300 27.6
1158472 199.7 200.7 1 36 0.01 29 28.2 0.36 67.5 1350 36.7
1158473 200.7 201.7 1 41 0.01 14 22.6 0.36 93.2 1010 35
1158474 201.7 202.7 1 45 0.01 30 30.6 0.48 98.3 1500 35.1
1158475 202.7 203.7 1 93 0.02 20 58.2 0.64 56 2590 18.9
1158476 203.7 204.7 1 63 0.01 36 58.5 0.49 62.2 3080 23.2
1158477 204.7 205.7 1 150 0.03 136 54.8 0.74 83.3 2310 32.5
1158478 205.7 206.7 1 63 0.01 19 47.4 0.39 101.5 2470 45.4
1158479 206.7 207.7 1 382 0.08 345 46.3 0.3 107.6 2090 63.9
1158481 207.7 208.7 1 1390 0.30 112 24 0.73 91.5 910 57.5
1158482 208.7 209.23 0.53 3540 0.76 139 21.6 0.62 116.5 518 78.8
1158483 209.23 210 0.77 2470 0.53 150 32.4 0.47 85.5 1020 64.1
Lithium Pegmatite Zone 207.7 210 2.3 2467 0.53 133.67 26.00 0.61 97.83 816.00 66.80
Average 2467 0.53 92 37 0 84 1480 67

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.


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