FOREMOST LITHIUM IS THE NEW KID ON THE NASDAQ BLOCK

It’s been a busy last few months for Foremost Lithium Resource & Technology. On August 24, 2023, the Company announced that it successfully listed on the Nasdaq Capital Market under the symbols “FMST” (CSE: FAT) and closed a public offering at $4 Million USD. It also announced that it had engaged with Dahrouge Geological Consulting Ltd (“DCG”) to undertake an extensive summer exploration program on its “Lithium Lane Properties” and completed a successful drill program in June on its Jean Lake Lithium/Gold property. Most recently, Foremost provided some positive assay results from its rock sampling program, returning values up to 2.13 per cent Li2O at the Zoro Lithium Project and up to 1.86 per cent Li2O at Jean Lake Lithium Project.

“We have a consistent systemic exploration approach that includes prospecting and geological evaluations combined with onsite rock geochemistry,” Foremost Lithium’s President and CEO Jason Barnard notes. “Our robust mapping and sampling program continues to indicate that our Lithium Lane Properties are not short on potential targets for producing high-quality battery minerals. The extensive geological data behind our 2023 exploration campaign enabled us to identify the high-quality assets and advance our lithium projects while we work to build long-term shareholder value. As we define drill targets in preparation of this upcoming drill season, we continue to have great confidence that this fertile area can be a significant future supplier of the battery minerals needed for global transition towards decarbonization.”

Foremost, situated near the mine friendly district of Snow Lake Manitoba, is a hard-rock exploration company strategi- cally located to capitalize on the world’s growing EV appetite. The company’s current focus is on its Zoro and Jean Lake Property for a winter drill campaign.

The Zoro Property

This property consists of 16 claims totaling 8,377-acre /3,390-hectares. The property hosts 16 spodumene-bearing pegmatite dykes discovered to date. It was revisited this past summer for sampling and detailed structural mapping to assist with targeting for the upcoming winter drill season. Sample results included 2.13, 0.57, 0.64, 0.10, 1.09, 1.45 per cent Li2O.

The Zoro 1, hosts an inferred resources of 1,074,567 tons at a grade of 0.91 per cent Li2O, with a cut-off of 0.3 per cent in accordance with the Company’s SK1300 Technical Report Summary (2023) and NI-43101 Technical Report (2018).

Dyke 1 and Dyke 8 are the most prominent dykes and remain open at depth and along strike to perform additional in-fill drilling and delineate additional tonnage of resource.

Earlier in the year, Foremost had announced that it completed a successful program with XPS Expert Process Solutions and SGS Canada Inc. to develop a process to produce and refine a near six per cent Li2O spodumene concentrate into a saleable battery-grade lithium hydroxide product from a 500-kilogram bulk sample from the Zoro Property.

“We achieved a global lithium recover of 81.6 per cent at a spodumene concentrate grade of 5.88 per cent, while returning an extremely favourable OPEX/ CAPEX to our company,” adds Barnard.

“This will position Foremost to market future lithium production to battery manufacturers and other strategic partners while it’s still in the ground for potential off-take agreements.”

Jean Lake Property

The Jean Lake Property consists of five contiguous claims totaling 2,476 acres/1,002 hectares, and three spodumene bearing pegmatite dykes, however B1-B2 pegmatite is now understood to possibly be one spodumene-bearing pegmatite with a minimum 350-metre length. The property was visited the past summer where additional overburden was stripped from the B1 and B2 occurrence, revealing more spodumene mineralization. Four chip samples were collected during the 2023 field program, three of which were from spodumene bearing pegmatite. Assay results included 0.01, 1.82 and 1.86 per cent Li2O from the three samples.

Foremost’s next steps on both these properties include work permit approval and drill targeting for a winter drill program on both Zoro and Jean Lake. Drilling on Zoro will seek to expand the existing resource on Dyke 1, as well as further investigate the spodumenebearing pegmatites on Dyke 8 and Dyke 16. The drill program at Jean Lake will follow up on the results from the previous winter 2023 drill program with the hopes of expanding the high-grade spodumene occurrences at B1 and B2.

“This has been an exciting phase for our company and its shareholders,” Barnard says. “Positioning Foremost for trading on the Nasdaq was a significant milestone that opened us to a global audience and exchange. Dahrouge continues to be a great exploration partner, and we look forward to achieving future success.” ✘

-bearing pegmatites and untested LCT

The Zoro 1, hosts an inferred resources of 1,074,567 tons at a grade of 0.91 in accordance with the Company’s SK Dyke 1 and Dyke 8 are the most prominent dykes and remain open at depth and along strike to perform additional in pegmatites which are targets for future exploration

Earlier in the year, Foremost had announced that it completed a successful program with XPS Expert Process Solutions and SGS Canada Inc. to develop a process to produce and refine a near six per cent Li2O spodumene concentrate into a saleable battery-grade lithium hydroxide product from a 500-kilogram bulk sample from the Zoro Property.

“We achieved a global lithium recover of 81.6 per cent at a spodumene concentrate grade of 5.88 per cent, while returning an extremely favourable OPEX/CAPEX to our company,” adds Barnard. “This will position Foremost to market future lithium production to battery manufacturers and other strategic partners while it’s still in the ground for potential