FE BATTERY METALS INTERSECTS MULTIPLE LITHIUM PEGMATITE ZONES IN MOST RECENT DRILLING AT THE AUGUSTUS LITHIUM PROPERTY

VANCOUVER, BC, Sept. 11, 2023 /PRNewswire/ - FE Battery Metals Corp. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) ("FE Battery Metals" or the "Company) is pleased to announce results of Drill Hole LC23-63 from the current 2023 drill program at its flagship Augustus Lithium Property in Quebec, Canada.

Drill hole LC23-63 was drilled at the main Augustus zone. In total, the drill hole intersected six separate lithium bearing zones, which, in total, have a composite length of 38.48 meters (see Highlights for individual zones).

New sampling of the host, or 'wallrock' in contact with the pegmatite bodies was found to contain lithium mineralization and that there is an observed correlation with higher lithium (Li), cesium (Cs), and rubidium (Rb) values to higher nickel and chromium values in these rocks.

Understanding the degree of the host rock mineralization could provide a useful guide for further exploration and resource building work at the project. If the host rock has been mineralizaed, likely by hydrothermal fluids, it may lead to a significant increase in potential lithium resource at the project. These lithium exomorphic halos are documented to extend from 2-5 m or more in the country rock in other lithium-pegmatite occurrences.

• Lithium pegmatite #1 intersected intersected a 3.88 meter zone with 0.37% Li2O at 115.49 m drilled depth. In addition, there are anomalous values of other rare metals such as beryllium (Be) in the range of 35 to 370 parts per million (ppm), cesium (Cs) 11.4 to 2070 ppm, niobium (Nb) 30 to 81.2 ppm, and tantalum (Ta) 24.7 to 113 ppm.
• Lithium pegmatite #2 intersected intersected a 8 meter wide zone with 1.0% Li2O at 179.7 m drilled depth, including a 4 m section of 1.61% Li2O at 181.5 m. In addition, there are anomalous values of other rare metals such as Be in the range of 10 to 444 ppm, Cs 15.1 to 489 ppm, Nb 7.4 to 105.5 ppm, and Ta 3.4 to 96.1 ppm.
• Lithium pegmatite #3 intersected a 2.8 meter zone with 0.3% Li2O at 199 m drilled depth. In addition, there are anomalous values of other rare metals such as Be in the range of less than (<) 3 to 180 ppm, Cs 4.9 to 298 ppm, Nb 5.9 to 93.1 ppm, and Ta 1.8 to 128 ppm.
• Lithium pegmatite #4 intersected intersected a 5.4 meter zone with 0.75% Li2O at 214 m drilled depth including a one meter section of 2.21% Li2O at 216 m. In addition, there are anomalous values of other rare metals such as Be in the range of 9 to 314 ppm, Cs 36.7 to 185 ppm, Nb 6.3 to 73.4 ppm, and Ta 1 to 86.1 ppm.
• Lithium pegmatite #5 intersected intersected a 8 meter zone with 0.69% Li2O at 226.6 m drilled depth, including a 3.1 m section with 1.23% Li2O at 229.4 m. In addition, there are anomalous values of other rare metals such as Be in the range of <3 to 451 ppm, Cs 36.7 to 185 ppm, Nb 6.3 to 73.4 ppm, and Ta 1 to 86.1 ppm.
• Lithium pegmatite #6 intersected intersected a 10.4 meter zone with 0.69% Li2O at 271.6 m drilled depth, including a one meter section of 1.32% Li2O at 274.6 m, and a 4 m section of 1.09% Li2O at 276.6 m. In addition, there are anomalous values of other rare metals such as Be in the range of <3 to 451 ppm, Cs 36.7 to 185 ppm, Nb 6.3 to 73.4 ppm, and Ta 1 to 86.1 ppm.

Drill hole LC23-63 was drilled at location 5367789.854N, 287162.594E, UTM NAD 1983 Zone 18N, at azimuth 52.6 degrees and dip -47.12 with a drilled depth of 308.35 m. The drill hole was placed at the main Augustus zone. All reported widths are drilled widths and have not been converted into true width.

Mr. Gurminder Sangha, CEO of FE Battery Metals stated that, "The Augustus main zone has returned solid results at every stage of exploration. Along with the mineralized swarm of pegmatites, we are excited about the discovery of high lithium, cesium and rubidium values in the wallrock hosting the pegmatites. This factor can change our exploration strategy and will need more assays. If successful this will add to the potential resource footprint."

The drill core is logged and sampled at the core shack using a rock saw. 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. 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 laboratory code Ultratrace 7 and sodium peroxide fusion (Na2O2) for lithium and 1E-Ag - Ag Aqua Regia - ICP-OES package for silver. 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

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.

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 LC23-63 Highlights

SOURCE First Energy Metals Limited