Foremost Lithium Intersects a New Spodumene Pegmatite and Extends Dike 8 on Its 100% Owned Zoro Lithium Project in Snow Lake, Manitoba

Highlands Ranch, Colorado--(Newsfile Corp. - April 26, 2022) - Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com), is pleased to announce it has completed a ten hole 1,509 meter drill program designed to test Mobile Metal Ion ("MMI") soil geochemical anomalies and assess the deeper levels of high-grade spodumene pegmatite Dike 8 discovered in 2018. The drilling contract was completed by Bodnar Drilling Ltd. of Ste. Rose du Lac and helicopter support was provided by Gogal Air Services Ltd. of Snow Lake. Both Bodnar and Gogal Air are Manitoba corporations.

Dyke 16 Discovery

The sixteenth (16th) spodumene-bearing pegmatite dyke on the Zoro property was intersected by two drill holes. DDH FM22-70 drilled at -50 degrees inclination intersected two pegmatite intercepts totaling 4.9 meters with up to 15% light green spodumene crystal aggregates. A second hole, DDHFM22-70B was drilled at a steeper inclination of -65 degrees to undercut the first pegmatite intersection. This hole intersected a five-meter intercept of the same spodumene mineralized pegmatite as hole FM22-70. The host rock to these pegmatites is a fine-grained foliated basalt.

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Figure 1 - DDH FM22-70 drilled at -50 degrees inclination intersected two pegmatite intercepts totaling 4.9 meters with up to 15% light green spodumene crystal aggregates.

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The location of this new dyke is illustrated in relation to all previous pegmatite dykes on the Zoro property in Figure 2 below.

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Figure 2 - Map of Zoro property showing the locations of newly discovered Dyke 16 together with locations of all previously discovered spodumene-bearing pegmatite dykes

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Dyke 8

High-grade spodumene pegmatite Dyke 8 was discovered on the Zoro property in 2018 by the drill testing of a Mobile Metal Ions soil geochemical anomaly. Drill hole Far18-35 testing the MMI anomaly intersected 36.5 m of spodumene-bearing pegmatite. Assay results from hole FAR18-35 included three separate intercepts of high-grade lithium including 12.3 m of 1.1% Li2O, 4.4 m of 1.2 % Li2O, and 2.2 m of 1.5% Li2O.

In 2022 DDHFM22-71 was drilled at -65 degrees to undercut the 2018 pegmatite intersections. A 4.5-meter spodumene-bearing pegmatite was intersected between 70.45 and 75.89 meters before being truncated by a fault [see Figure 3]. This intercept is 37 meters below the previous 2018 drill intercepted Dyke 8 spodumene mineralization. A further pegmatite was intersected below the fault between 84.4 and 86.65 meters [see Figure 4].

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Figure 3 - A 4.5-meter spodumene-bearing pegmatite was intersected between 70.45 and 75.89 meters before being truncated by a fault

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Figure 4 - A further pegmatite was intersected below the fault between 84.4 and 86.65 meters on Dyke 8

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To date Dyke 8 has drill indicated dimensions of 120 m in length, 5-15 m in width and has been drilled to a depth of 157 m.

After logging, all spodumene-bearing pegmatite intercepts have been sawn in half and one half of the core has been shipped to Activation Laboratories (Ancaster, Ontario) for multielement analysis. The analysis of the 2022 core samples will be consistent with previous years analytical program. This includes "UT-7" lithium and related metal analysis by ICP-MS after total dissolution by sodium pyrophosphate.

All assays will be released in a Foremost Lithium news release upon receipt.

Scott Taylor, President and CEO of Foremost Lithium, states: "We now have 16 drill-intercepted spodumene-bearing pegmatite Dykes on the Zoro property. Dyke 8 represents a high priority target to perform subsequent in-fill drilling and build additional resource on Zoro. We are in the middle of acquiring airborne magnetics over Zoro which will permit Foremost to corroborate all historical drill data, MMI, together with the magnetic low signatures. This integrated, multi-data interpretation will help us de-risk and build a high-quality inventory of drill targets for our next work program. The integration of the Zoro data will also help Foremost define future subsurface drilling targets on Grass River and Jean Lake with enhanced precision and greater confidence."

The drill program was supported, in part, by a $300,000 grant from the Manitoba Mining Development Fund (MMDF), a fund developed by the Manitoba government to support sustainable mineral development with emphasis on northern Manitoba.

Technical information contained in the press release has been approved by the Company's Vice President Exploration 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 Ltd.

Foremost Lithium is an energy technology company focused and committed to become one of the first North American Companies to produce high quality battery-grade lithium hydroxide. Lithium hydroxide is a strategic battery mineral mainly consumed in the production of cathode materials for lithium-ion batteries. Lithium based batteries power the daily use of consumer electronics, enable electrification of the transportation sector, and provide stationary grid storage, critical to developing a clean-energy economy. The Company is prudently and systematically exploring and building tonnage on its four lithium properties, Jean Lake, Grass River, and Zoro located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost Lithium also holds assets in precious commodities with its Winston Gold/Silver Project in New Mexico, USA.

For further information please contact:

Scott Taylor
President and CEO
Foremost Lithium Resource &Technology Ltd.
Email: scott.taylor@foremostlithium.com
Phone: +1 (604) 330-8067
Twitter: @lithiumlane

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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 as lithium as result of new information, future events or otherwise unless required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121688

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