Foremost Lithium Announces First Anniversary Option Payment for the Jean Lake Lithium-Gold Property Snow Lake, Manitoba
Foremost Lithium Announces First
Anniversary Option Payment for the Jean Lake
Lithium-Gold Property Snow Lake, Manitoba
Vancouver, British Columbia--(Newsfile Corp. - August 7, 2022) - Foremost Lithium Resource &
Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the
"Company") (
www.foremostlithium.com
) is pleased to announce that it will issue 335,235 common
shares and has paid $50,000 in cash in satisfaction of its first anniversary option payment pursuant to
the Company's option agreement with Mount Morgan Resources Ltd. to acquire a 100% interest in its
Jean Lake lithium-gold project. The 1002 hectare Jean Lake Gold- Lithium project is located 570 km
north of Winnipeg and 15 km east of the mining centre of Snow Lake Manitoba. The region hosts world-
class gold, base-metal and gold-rich base-metal deposits and developing lithium resources.
The five claim, 1002-hectare Jean Lake Lithium and Gold Property is situated in west-central Manitoba,
15 kilometers east of the historic town of Snow Lake. It is hosted by the Early Proterozoic (1.832 Ga)
Rex Lake Plutonic Complex which is a circular intrusion 8 km in diameter. The property hosts the historic
west-northwest striking Beryl lithium pegmatites rediscovered in August of 2021 in blasted trenches
beneath 80 years of organic deadfall and glacial sediment. The 270-degree trending dykes are
characterized by coarse grained light green spodumene crystals in a matrix of potassium feldspar,
quartz, and muscovite. The host rocks are coarsely porphyritic gabbro. The property also hosts the shear
zone-hosted Sparky Gold Occurrence discovered in 1918. The gold mineralization is associated with
disseminated and near-solid fracture fillings consisting of fine-grained to blocky arsenopyrite with lesser
pyrite and chalcopyrite hosted within sheared and silicified massive basalt and gabbro.
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a resource exploration company committed to having a critical role in the production
of high-quality battery-grade lithium hydroxide to fuel the electric vehicle and battery storage market.
Given the importance and global focus on increasing decarbonization, the company is hyper-focused on
continued exploration and growth on its six lithium projects: Jean Lake, Grass River Claims, Zoro, Jol
and the Peg North Claims, in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the Northwest
Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.
For further information please contact:
John Gravelle
President and CEO
Foremost Lithium Resource &Technology Ltd.
Email:
Phone: +1 (604) 330-8067
Follow us or contact us on social media:
Twitter: @foremostlithium
Linkedin:
https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany
Facebook:
https://www.facebook.com/ForemostLithium
Forward-looking statement:
This news release contains "forward-looking statements" and "forward-looking information" (as defined
under applicable securities laws), based on management's best estimates, assumptions, and current
expectations. Such statements include but are not limited to, statements with respect to the plans for
future exploration and development of the Company's properties and the acquisition of additional
exploration projects. Generally, these forward-looking statements can be identified by the use of forward-
looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans",
"anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective",
"prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur.
These statements should not be read as guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those expressed or implied by such
statements, including but not limited to: risks related to the Company's projects; risks related to general
economic conditions, actual results of current exploration activities, unanticipated reclamation expenses;
changes in project parameters as plans continue to be refined; fluctuations in prices of metals including
gold; increases or decreases in market prices of mining consumables, possible variations in resource
estimates, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of
the mining industry; delays in the completion of exploration, development or construction activities,
changes in national and local government regulation of mining operations, tax rules and regulations,
changes in applicable laws or stock exchange policies and receipt of any requires regulatory approvals
and political and economic developments in areas in which the Company operates. Although the
Company has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in such
statements. The forward-looking statements and forward-looking information are made as of the date
hereof and are qualified in their entirety by this cautionary statement. The Company disclaims any
obligation to revise or update any such factors or to publicly announce the result of any revisions to any
forward- looking statements or forward-looking information contained herein to reflect future results,
events or developments, except as require by law. Accordingly, readers should not place undue reliance
on forward-looking statements and information. Please refer to the Company's most recent filings under
its profile at
www.sedar.com
for further information respecting the risks affecting the Company and its
business.
UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered
under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been
offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated
under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the
account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States
Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from
the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the
securities must not be conducted unless in accordance with the U.S. Securities Act. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be
any sale of securities in the state in the United States in which such offer, solicitation or sale would be
unlawful.
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