Vancouver, B.C. (January 25, 2022) – First Energy Metals Ltd. (CSE: FE) (“First Energy” or the “Company”) is pleased to announce results of drill hole LC21-17 at its Augustus Lithium Property in Quebec, Canada. The drill hole intersected two spodumene bearing lithium pegmatite intercepts, of which the first is 5.2 metres (m) wide zone grading 0.93 percent (%) lithium oxide (Li2O) at 214 m drilled depth, and a second 4.0 m wide intercept grading 0.30% Li2O at 292 m drilled depth. There are anomalous values of other rare metals such as beryllium (Be), cesium (Cs), niobium (Nb), rubidium (Rb), and tantalum (Ta).

Highlights (see Table 1 for details)

✓ 5.2 m wide spodumene pegmatite zone at 214 m with average lithium grades 0.93% Li2O or 4,314 parts per million (ppm) lithium (Li), 173.60 ppm Be, 35.54 ppm Cs, 89.22 ppm Nb, 536.20 ppm Rb, and 63.60 ppm Ta. Average iron (Fe) content in this intercept is 0.86%.

✓ 4.0 m wide spodumene pegmatite zone at 292 m with average lithium grade of 0.30% Li2O or 1,384.25 ppm Li, 390.25 ppm Be, 201.03 ppm Cs, 54 ppm Nb, 1,307 ppm Rb, and 58.23 ppm Ta. Average iron (Fe) content in this intercept is 1.33%.

Drill hole LC-21-17 was drilled during Phase 1 in 2021 at Augustus Prospect, UTM location: 287097.165E, 5367780.098N (NAD 1983 UTM Zone 18N), Azimuth 38.95 degrees (TN), Dip -44.5 degrees with a total drilled depth of 315 m. All intersections reported are based on drilled width and have not been converted to the true width. The drill core was logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates and blanks were 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). 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
FIRST ENERGY METALS LTD.

“Gurminder Sangha”
Gurminder Sangha
President & Chief Executive Officer

For further information, please contact the Company at: gsangha@firstenergymetals.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.

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.

Table 1: Drill Hole LC21-17 Assay 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.