Vancouver, B.C. (March 08, 2023) – FE Battery Metals Corp. (CSE: FE) OTCQB: FEMFF) (WKN: A2JC89) “FE Battery Metals” or the “Company) is pleased to announce results of Drill Hole LC23-42 from 2023 exploratory drill program at its Augustus Lithium Property in Quebec, Canada. The drill hole LC23-42 intersected two pegmatites with widths of 16 metres (m) and 4 m, respectively, showing varying lithium grades from 164 to 250 meters drilled depth (see Table 1 for details).

Highlights

• The upper pegmatite is 16m wide with average 0.41% Li2O or 1,911 parts per million (ppm) lithium (Li) at 164 m drilled depth, including a two-meter-wide zone grading 1.17% Li2O at 167 m depth.
• The lower pegmatite is 4 m wide with average 0.13% Li2O or 588 parts per million (ppm) lithium (Li) at 235 m drilled depth.
• There are anomalous values of other rare metals in these pegmatite zones as shown in the Table 1, of special interest is a 0.73m intersection at 165 m depth with 1,270 ppm cesium (Cs) and 3,450 ppm rubidium.
• The drill hole LC23-42 was drilled at location 5367949N, 287240E, UTM NAD 1983 Zone 18N, at azimuth 222.8 degrees and dip -47.4 with a drilled depth of 255 m. The drill hole was placed at the main Augustus zone.

To date, 50 drill holes with a cumulative core drilling of over 9,500 m have been completed at Augustus. 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.

Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS

Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.

ICP-MS

Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.

ICP-OES

Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10^th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/

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.

About FE Battery Metals Corp

FE Battery Metals Corp is focused on identifying, exploring and advancing early-stage lithium pegmatite projects in Canada. The Company’s primary efforts have been on exploration projects located in Quebec, with its flagship property being the Augustus Lithium Property. Augustus is located in the immediate vicinity of Val d’Or Quebec where several historical prospects and a previously active lithium mine is located within a 10km radius from the property. North American Lithium mine (NAL) and the Authier Project are two notable projects in the area that highlight the potential of the Augustus Lithium Property.

ON BEHALF OF THE BOARD OF
FE BATTERY METALS CORP

“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer

For further information, please contact the Company at: gsangha@febatterymetals.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 LC23-42 Sample assays highlights

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.