Highlands Ranch, Colorado–(Newsfile Corp. – March 1, 2022) – Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) (“Foremost” or the “Company“) (www.foremostlithium.com), is pleased to report initial data from the Unmanned Aerial Vehicle, (“UAV“) magnetic survey over the Jean Lake property first announced on December 9th, 2021. Jean Lake is the 100% owned 1,002-hectare (2,476-acre) property which connects with Snow Lake Lithium’s Thompson Brothers lithium project within the Snow Lake pegmatite field (Snow Lake, Manitoba, Canada). Images from EarthEx Geophysical Solutions Inc. (“EarthEx“) magnetic data identified several highly prospective targets which correlate with the previously identified Beryl pegmatite dykes (B and B-2) which assayed between 3.89% – 5.17% Li2O. The locations of the B and B-2 Beryl pegmatite dykes are annotated with the magnetic data in Figure 1. The black lines are the preliminary interpretation of the magnetic low lineaments from a Centre for Exploration Targeting (“CET”) analysis and overly the magnetic “low” picks layer. The coincidence of the trends of magnetic lows with the Beryl pegmatites and their extension along a trend recognized for its association with high-grade lithium pegmatites is highly encouraging.

Figure 1 – Magnetic image covering the Jean Lake project. The blue square is 500m by 500m to provide a sense of scale. The gap in the image is due to the location of Hydroelectric power lines crossing the property. Location B (orange circle) assayed 3.89% Li2O; and Location B2 (red circle) assayed 5.17% Li2O.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4689/115225_foremostenhanced1.jpg

Figure 2 builds upon Figure 1 now showing Snow Lake Lithium’s Sherritt Gordon (SG) claims with an overlay of their disclosed magnetic survey results from February 15th, 2020. The data are of the same resolution and were both acquired and processed by EarthEx. There is a noticeable correlation between magnetic lows observed on both properties. There is a prospective “Lithium Lane” which connects the known pegmatite dykes and interpreted lineaments on both properties.

Figure 2 – Foremost Lithium’s Jean Lake magnetic survey results with overlays of Snow Lake Lithium and 1911 Gold’s land positions. Also included are the preliminary results from Snow Lake’s magnetic survey over their SG claims.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4689/115225_foremostenhanced2.jpg

Lindsay Bottomer, Co-founder and Geoscience Advisor of Foremost states: “The Jean Lake results are tremendous with regards to the trends of magnetic lows. They correspond with the locations of the B and B-2 Beryl pegmatites on Jean Lake and are on trend with the Sherritt Gordon and Grass River pegmatites on Snow Lake Lithium’s ground. One can now see several high-quality drill targets. There are two domains identified by the Jean Lake survey. The magnetic lows in the northern sector of the property that correspond to pegmatites and potential pegmatites and the southern/southwest sector which documents the magnetic highs that correspond to our gold assays and to the magnetic anomalies being drilled by 1911 Gold Corp on their ground to the west of Foremost.”

Scott Taylor, President and CEO of Foremost Lithium states: “It is encouraging to see a regional thesis of a prospective Snow Lake “Lithium Lane” emerging from the data. We will continue to advance this prospective Lithium Lane thesis in similar fashion as Frontier Lithium’s Electric Avenue, a premium lithium mineral district located in Northern Ontario. Further, we look forward to building a de-risked pipeline of high value drill targets at Jean Lake so we can drill in the Winter of 2022 and deliver more resource and enterprise value for our shareholders.

Technical information contained in the press release has been approved by the Company’s Co-Founder and Geoscience Advisor, Lindsay Bottomer, P.Geo, who is a “Qualified Person” within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About EarthEx Geophysical Solutions Inc.

EarthEx Geophysical Solutions Inc is a Manitoba company, founded in 2014 in Selkirk, Manitoba. The President and Chief Geophysicist, Daniel Card, P.Geo, RPGeo, holds a BSc. Hons degree from the University of Manitoba (2007). EarthEx is highly specialized in geophysical prospecting for hard-rock minerals, and works with cutting edge technologies and data analysis methodology. Since its inception in 2014, EarthEx has quickly become a household name in the Canadian mineral exploration industry, with rapid and continued growth expected in the coming years.

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.