First Energy Identifies Additional Targets From Airborne Magnetic Survey

VANCOUVER, Oct. 7, 2022 - First Energy Metals Ltd. (CSE: FE) (OTCQB: FEMFF) (WKN: A2JC89) ("First Energy" or the "Company) is pleased to announce that the Helicopter borne Magnetic Survey flown over our flagship Augustus Lithium Project has identified new target areas for our Phase 2 exploration trenching and drilling program.

The high-resolution Magnetic Survey was conducted by Geo Data Solutions GDS Inc. of Laval, Quebec. In total, 661 line-kilometres were surveyed with traverse lines flown at N12.5 degrees East, perpendicular to the orientation of the local geological structural trend. Survey flight lines were spaced 25 meters apart with the area investigated beginning near to the North American Lithium mine and extending 8km westward to encompasses several important Lithium targets including Augustus and the Beluga on the First Energy claims.

The survey resulted in highlighting and identifying key geologic boundaries, faults and new, untested targets identified south and southeast of the main showings. The report by Geo Data Solutions, highlighted and recommended further work in a new untested area that is directly adjacent to and to the northwest of the main Augustus exploration target. Their analysis and geophysical interpretation now outline a strike length of 1.8 kilometers for Augustus, more than doubling the length historically documented.

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
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 intentions, plans and future actions 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.

SOURCE First Energy Metals Ltd.