An anonymous director reports

FIRST LITHIUM MINERALS ANNOUNCES CLOSING OF SECOND TRANCHE OF LIFE OFFERING AND PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $1,442,144

First Lithium Minerals Corp. has closed the second tranche of its non-brokered private placement financing as previously announced in its press release dated Sept. 16, 2026.

The second tranche closing of the listed issuer financing exemption offering consisted of the issuance of an aggregate of: (i) 2,466,773 non-flow-through units at a price of 11 cents per NFT unit. Each NFT unit consists of: (A) one common share; and (B) one-half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share in the capital of the company at a price of 18 cents for a period of three years from the closing of the offering; and (ii) 2,173,333 flow-through units at a price of 15 cents per FT unit. Each FT unit is composed of: (A) one common share of the company that qualifies as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada); and (B) one-half of one warrant.

The company relied on the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) in connection with the distribution of the free trading 2,466,773 NFT units and 2,173,333 FT units under the second tranche of the LIFE offering for gross proceeds of $597,345. The company paid $23,908 in finders' fees and issued 220,542 finders' warrants in connection with this tranche of the LIFE offering. Each finder's warrant will be exercisable for one additional NFT unit at a price of 11 cents for a period of three years from the closing of the first tranche of the LIFE offering.

Concurrent with closing of the LIFE offering, the company closed a private placement of up to 7,680,363 units at a price of 11 cents per PP unit for aggregate gross proceeds of $844,840. Each PP unit consists of: (A) one common share of the company; and (B) one-half of one common share purchase warrant of the company. Each PP warrant will be exercisable to acquire an additional common share at a price of 18 cents for a period of three years. The PP shares, PP warrants and any PP warrant shares issued upon exercise of the PP warrants will be subject to a statutory hold period in Canada ending on the date that is four months plus one day from the closing of the concurrent private placement.

The company paid $33,387 in finders' fees and issued 337,702 finders' warrants in connection with the concurrent private placement. Each finder's warrant will be exercisable for one additional NFT unit at a price of 11 cents for a period of three years from the closing of the first tranche of the LIFE offering.

There is an offering document related to the offering and the use by the company of the listed issuer financing exemption that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The company intends to use the net proceeds of the LIFE offering as more specifically described in the offering document and for exploration activities, general corporate and working capital purposes.

About First Lithium Minerals Corp.

First Lithium Minerals is a Canadian mineral exploration and development company. The company is exploring for lithium and alkali metals at its 100-per-cent-owned Ascotan project composed of approximately 1,775 hectares of mineral exploration concessions at the Salar de Ascotan in the Antofagasta region of northern Chile. Two property-wide geophysical surveys identified priority exploration drill targets for potential brine mineralization. The company is currently planning its inaugural drilling program pending obtaining required permits, licences and agreements. The company is also exploring for gold and critical metals at its 100-per-cent-owned Lidstone project composed of 10,674 hectares of mining claims in Northwestern Ontario, Canada.

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