A video from InvestmentPitch Media describes the signing of a binding term sheet for Foremost Lithium to sell its 60% interest in NWT’s Hidden Lake Lithium project in Yellowknife for $3.5 million. The Canadian Business Journal

VANCOUVER, British Columbia, November 8, 2022 (GLOBE NEWSWIRE) — Foremost Lithium Resource & Technology Ltd. (CSE:FAT) (OTCQB:FRRSF) (FSE:F0R0) announces lithium-focused hard rock exploration Company. has signed a binding term sheet selling his 60% interest in his lithium project, Hidden Lake in Yellowknife, NWT, for his $3.5 million.

Media snippets accompanying this announcement are available by clicking the image or link below.

For more information, see the InvestmentPitch Media video available atinvestment pitch“When”Youtube”. If these links are not enabled, please visit the following URLs: www.InvestmentPitch.com Type “frontline” in the search box.

Located in the prolific Yellowknife Pegmatite District, the Hidden Lake Lithium Project consists of five contiguous mineral claims containing at least ten lithium-bearing spodumene pegmatite dikes across 4,100 acres. Foremost has received his $100,000 non-refundable security deposit from an independent party, with the remaining $3.4 million of his payment due upon closing of the transaction. Closing is expected to occur in 30 days, subject to completion of final binding documents, final due diligence and receipt of other customary and regulatory approvals for transactions of this nature. .

Director Jason Barnard said:We look forward to completing the sale of one of our non-core assets. This will allow us to inject working capital and continue our focus on the Lithium Lane property in Snow Lake, Manitoba.It was a pleasure to do this transaction for our company”

Foremost is focused on five hard rock lithium projects on over 43,000 acres in Snow Lake, Manitoba, Canada. All five Lithium Lane properties – Peg North, Jol, Grass River, Gene Lake and Zorro – are near existing infrastructure such as highways, power grids and railroads. The company discovered 39 spodumene lithium-bearing pegmatite dikes and 30 follow-up drill targets.

Most recently, EarthEx Geophysical Solutions flew a total of 7,473 line-km across a 43,031-acre land package to complete a UAV-assisted high-resolution airborne magnetic survey on the ‘Lithium Lane’ property. The resolution of the UAV system provided excellent rock structure detail at all of Foremost’s Lithium Lane properties and generated detailed 3D models of the property’s magnetic sources. The linear trend of magnetic cyclones defined at the Jean Lake property by UAV surveys is interpreted as an extension of the magnetic signatures of Sherritt Gordon #1 and #2, which contain coarse spodumene, and the Grass River Pegmatite Levee currently being surveyed by Snow Lake. increase.Resource Co., Ltd.

EarthEx President and Chief Geophysicist Daniel Card said:I believe the magnetic data collected at the Foremost Lithium property in the Snow Lakes region is of the highest quality I have seen in more than 15 years of geophysical data analysis for mineral exploration. I’m here. Foremost’s approach to adopting new technology into its exploration activities could provide a competitive advantage. We feel that large continuous data sets of this caliber could play a central role in Foremost’s exploration efforts.“

The company also holds valuable commodity assets at the Winston Gold/Silver Project in New Mexico.

The stock is trading at $0.19. For more information, please visit the company’s website www.ForemostLithium.com, call 604-330-8067 or email us. [email protected]

About Investment Pitch Media

InvestmentPitch Media leverages the power of video to put your company’s story ahead of thousands of companies seeking recognition and funding from the financial industry, along with extensive distribution including news release services. The company specializes in producing short videos based on important news releases, research reports and other content of interest to investors.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for viewer information. Foremost Lithium paid him no more than $2,000 in cash to produce the current news release in video format. Company information is based on publicly available information. Information provided by InvestmentPitch Media Ltd. through its media services is not to be construed as a recommendation, offer or offer to buy or sell securities and is provided solely as an information media service. InvestmentPitch Media Ltd makes no warranties or obligations as to the accuracy or completeness of this information. All due diligence must be done by the viewer or their financial advisor. Investing in securities is speculative and involves risk.

CBJ Newsmaker