Vancouver, B.C. (September 07, 2020) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company) is pleased to announce that it has received assay results from recently completed exploration work at its Kokanee Creek Property located in the southeastern British Columbia, Canada. The work included prospecting to locate historical mineralization areas, carry out surface sampling, and mapping of veins and geological structures. A total of 27 grab rock samples were collected from various outcrops and mineralized areas mentioned in the historical exploration work reports. The results indicate anomalous values of silver, cobalt, tungsten, and zinc. The Company wants to caution that grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.

Highlights (See Table 1 for Details):

• Silver (Ag) values are in the range of 0.19 grams per tonne (g/t) to 43.69 g/t with average of 27 samples is 7.95 g/t, while seven samples are over 10 g/t, and two samples are 43.69 g/t.
• Gold (Au) values are 0.006 g/t to 0.211 g/t with average 0.054 g/t.
• Zinc is from 29.3 parts per million (ppm) to over 10,000 ppm (> 1% Zn), where three samples are over the laboratory’s method detection limits of 10,000 ppm.
• Cobalt (Co) is from one ppm to over 2,000 ppm (> 0.2%) where one sample is over the laboratory’s method detection limits of 2,000 ppm.
• Tungsten (W) is from less than 0.1 ppm to over 100 ppm (> 100ppm) where one sample is over the laboratory’s method detection limits of 100 ppm.

The samples were prepared and analyzed at ACME Analytical Laboratories (Bureau Veritas) in Vancouver, BC which is an independent accredited laboratory. Samples were prepared and analyzed using codes: PRP70-250- Crush, split and pulverize 250 g rock to 200 mesh; and AQ252_EXT 34 1:1:1 Aqua Regia digestion Ultratrace ICP-MS analysis 30g, and FA430 – Gold by Lead Collection Fire Assay Fusion - AAS Finish 30 g. Two field duplicates were also inserted in the samples for quality assurance and quality control purposes (QA/QC). The Company has requested the laboratory to reanalyze the overlimit samples for zinc, cobalt and tungsten using a different method to get exact values.

Gurminder Sangha, CEO of First Energy Metals stated that, “Kokanee Creek exploration work has identified several good targets for a follow up work program. The silver results are very encouraging throughout the property, a few samples with high cobalt and tungsten have provided us a lead to carry out detailed sampling work in those areas. Our team is excited to have a promising silver property in the Company’s portfolio of projects and we are looking forward to continue exploration in the near future.” 

During fieldwork at the Kokanee Creek Property in July 2020, a mineralization area with 2 kilometres by 500 meters dimensions was targeted where historical drilling in 1997 returned encouraging gold, silver, lead, or zinc mineralization at shallow depths. In this area, historical drill hole KC97-02 (Azimuth 052°/ Dip -45°) returned 26.11 grams per ton (g/t) gold over 0.7m from 7.0-7.7m, and 13.52 g/t gold over 1.4m from 21.8-23.2m. In addition, rock samples within the zone returned values of 3.54 percent (%) zinc, 4.22 g/t gold, and 48.0 g/t silver. A continuous chip rock sample taken along a road cut returned 0.3% zinc over 55 m, and 2.26 g/t gold over 5m.

Cautionary Statement: Investors are cautioned that the above information has been taken from the BC Government’s database at following websites:https://www.mtonline.gov.bc.ca/mtov/home.do. (Assessment Reports # 25105 dated June 30, 1997; #27749 dated May 13, 2005; Eagle Plains Resources News Release Dated May15, 2013). A Qualified Person from the Company has not verified the data and information reported in this news release. The Company’s current exploration work is one of the several steps to verify historical work and to find new targets. The historical resource and production reported on the adjacent properties may not be indicative of the mineralization on the Company’s properties.

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 First Energy Metals Limited.

First Energy Metals Limited is a junior resource company engaged in exploration and development of precious and energy metals such as lithium, cobalt, and gold within its project portfolio in North America. The Company’s goal is to acquire prospective technology and precious metals projects and develop them. The Company currently holds an option to acquire 100% interest in Phyllis Cobalt property in Ontario. The Company has recently acquired Scramble Mine Gold Property in Ontario, and two gold exploration properties (Kokanee Creek and Independence Gold properties) in British Columbia, Canada. First Energy Metals Limited (formerly “Agave Silver “) was incorporated on October 12, 1966 in the Province of British Columbia. The Company’s common shares trade on the Canadian Securities Exchange (CSE) under the symbol FE and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange as A2JC89.

ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.

“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer
For further information, please contact the Company at: gsangha@firstenergymetals.com

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 intentions, plans and future actions. 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. 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.

Note: The highlighted samples are field duplicates