First Lithium Announces New Gold Discovery up to 2.34 g/t and Additional Claims Staking at Lidstone Project

Rhea-AI Summary

First Lithium Minerals (OTC: FLMCF) reported results from its 2025 Lidstone exploration program, which collected 229 samples in November 2025 and returned a high-grade grab sample of 2.34 g/t Au. The Company staked an additional 2,556 hectares, bringing Lidstone to 16,238 hectares, and plans a higher-resolution airborne magnetic survey and follow-up field work to define drill-ready targets by Q4 2026.

Positive

• High-grade gold grab sample of 2.34 g/t Au
• 229 samples collected in November 2025 field program
• Claims expanded by 2,556 hectares to 16,238 hectares
• Plan to define drill-ready targets by Q4 2026

Negative

• High-grade result is a single grab sample; dataset is limited
• Grab samples are selective and may not represent overall mineralization

News Market Reaction

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Toronto, Ontario--(Newsfile Corp. - February 3, 2026) - First Lithium Minerals Corp. (CSE: FLM) (OTC Pink: FLMCF) (FSE: X28) ("First Lithium Minerals" or the "Company") is pleased to announce the results of the 2025 field exploration program conducted at the Lidstone project ("Lidstone", "Project", or "Property"). The 2025 program was a continuation of the 2024 exploration program following the discovery of a gold anomaly at the Lidstone project, located 270 km north of the City of Thunder Bay, Ontario.

In the 2024 field exploration on the project showed potential for gold mineralization with a sample from a quartz vein returning 0.272 g/t Au (Ref: Toronto, March 3, 2025 "First Lithium Minerals Discovers Gold Anomaly at its Lidstone Prospect in Ontario"). The surrounding geology was further investigated for potential economic gold mineralization on the Lidstone property in the fall of 2025.

The 2025 exploration program was conducted by Bayside Geoscience of Thunder Bay, Ontario. The sampling campaign was conducted over ten days in November 2025. A total of 229 samples were collected, representing 102 quartz veins, 112 metavolcanic-metasedimentary rocks, 7 granitic rocks, and 8 mafic-ultramafic intrusive rocks. Extensive sampling was carried out along the margins of an interpreted granite-greenstone belt contact which is strongly delineated in the regional magnetic survey. Out of 225 samples twelve samples assayed returned anomalous gold between 0.01-0.05 g/t Au and one sample (F570631) returned 2.34 g/t Au (Figure 1).

The gold discovery sample F570631 was taken from an outcrop that was partially exposed and covered by moss and snow. The sample was observed to be comprised of 80% sugary quartz with mm-scale strongly rusted bands of very fine- to fine-grained pyrite at 1-2% (Figure 2). This sample and a cluster of samples that returned anomalous gold values are found in close proximity to the interpreted granite-greenstone contact and are hosted within metavolcanic and metasedimentary rocks (Figure 3).

Figure 1. 2025 and 2024 grab sample locations overlain on Regional Total Field Magnetics map

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https://images.newsfilecorp.com/files/3968/282462_48025ebcd42d8a69_002full.jpg

Figure 2. Sample F570631 which returned 2.34 g/t Au from outcrop

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3968/282462_figure2.jpg

Figure 3. 2025 sampling results overlain on interpreted bedrock geology (Ontario Geological Survey)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3968/282462_48025ebcd42d8a69_005full.jpg

As a result of this new, high grade gold discovery the Company directly staked additional mining claims. The newly staked claims, which are 100% owned by the Company, add 2,556 hectares to Lidstone's now total 16,238 hectares mining claims.

Rob Saltsman, President & CEO of the Company, commented: "This is one of the most exciting developments at our Lidstone gold project to-date. The fieldwork carried out in 2025 expands the surface footprint of gold discoveries which follow in the wake of a discovery of the gold anomaly made in 2024 and position the area as a new gold exploration target in Northwestern Ontario. Particularly exciting is the fact that this area of the greenstone belt saw very little historical exploration and might have been overlooked for gold mineralization. We decided to expand the footprint of the project with new mining claims staking, which makes Lidstone a sizeable gold exploration project in Canada's top gold jurisdiction and plan to continue our exploration investment in 2026."

The Company is planning to follow up on the new gold discovery with a higher resolution airborne magnetic survey and additional field work in the 2026 field season with the intent to define drill ready targets in Q4 2026.

QA/QC

Grab samples were collected by field personnel utilizing rock hammers and chisels. Each sample was accompanied by a detailed description of lithology, alteration and mineralization and geolocated utilizing a handheld Garmin GPSMap 64sx GPS. 1-2kg rock samples are placed into poly bags along with a unique sample tag and sealed with a zip tie in the field. Bayside inserted certified reference material into the sample stream as an external QAQC measure.

Field personnel personally transported all samples from the 2025 program to AGAT Laboratories in Thunder Bay. Assay preparation was completed by drying and crushing the sample to a powder where 75% passed through a 2 mm sieve. The sample is then mechanically split into 250g and further pulverized where 85% passing through a 75µm sieve. All samples were then analyzed by Fire Assay with AAS finish (AGAT method 202-051) in Thunder Bay and multi-element geochemistry via 4 acid digestion with and ICP-OES/MS finish (AGAT method 201-071) in Calgary.

Grab samples are selective in nature and may not be representative of the overall mineralization or characteristics of the bedrock geology from which they were sampled.

About the Lidstone Project

The Lidstone Project is located approximately 240km northwest of the town of Geraldton, Ontario, within the English River Basin proximal to the southern contact of the Uchi Domain of the Superior geological province and comprises 16,238 ha of mining claims which are 100% owned by First Lithium Minerals. The project overlays a 20km long greenstone belt which has seen very limited exploration to date, with only 1 historic diamond drill hole recorded on the property. Recent logging activities in the area have greatly improved access and exposure on the property allowing First Lithium to conduct meaningful grassroots exploration activities leading to a new gold discovery in 2025.

About First Lithium Minerals

First Lithium Minerals is a Canadian mineral exploration and development company. The Company is exploring for lithium and alkali metals at its 100%-owned Ascotan Project comprised of approximately 1,775 ha 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%-owned Lidstone Project comprised of 19,800 ha of mining claims in northwestern Ontario, Canada.

Additional information about the Company is available on the Company's website: www.firstlithium.ca

Qualified Person

Steven Flank, P. Geo, M.Sc. is the designated Qualified Person within the meaning of National Instrument 43-101 ("NI 43-101") has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of the same. Mr. Flank is a Professional Geoscientist in good standing with the Professional Geoscientists Ontario (PGO) and is the President and Principal Geologist of Bayside Geoscience.

For further information please contact:

First Lithium Minerals Corp.

40 King Street West, Suite 2400
Toronto, Ontario
M5H 3Y2
Tel: 416-402-2428
Email: rob@firstlithium.ca
Rob Saltsman, CEO and Director

Caution Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws. Any such forward-looking information may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans", and similar expressions. Readers are cautioned not to place undue reliance on forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: prospecting and exploration activities, geological, geophysical, and geochemical surveys, its results and interpretation, studies and interpretations of historical exploration and geological information, drill target definition, permitting, licences, environmental laws and regulations, changes in government regulations and laws, obtaining social licence to explore and operate, community engagements, timing of exploration activities, the discovery and delineation of mineral deposits/resources/reserves, general business, economic, competitive, reliance on third parties, the actual results of operations, and other risks of the natural resources industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any obligation to update or revise any forward-looking statements information, except in accordance with applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282462

FAQ

What did First Lithium (FLMCF) find at the Lidstone project in November 2025?

A direct answer: a high-grade grab sample returned 2.34 g/t Au, plus multiple anomalous samples. According to the company, 229 samples were collected and 12 returned low anomalous values while one returned 2.34 g/t Au.

How much did First Lithium (FLMCF) expand the Lidstone claim area after the discovery?

Direct answer: the company staked an additional 2,556 hectares, increasing total claims to 16,238 hectares. According to the company, the newly staked claims are 100% owned and expand the project footprint in Northwestern Ontario.

Will First Lithium (FLMCF) drill Lidstone after the 2025 discovery and when?

Direct answer: the company plans follow-up work to define drill-ready targets with intent for Q4 2026. According to the company, this includes a higher-resolution airborne magnetic survey and additional 2026 field work before drilling planning.

How reliable are the 2025 gold assay results reported by First Lithium (FLMCF)?

Direct answer: assays were completed by certified labs with QA/QC procedures, but grab samples are selective. According to the company, samples underwent Fire Assay and multi-element ICP analysis and included insertion of certified reference material as QA/QC.

What geology hosts the gold discovery at First Lithium's (FLMCF) Lidstone project?

Direct answer: the 2.34 g/t Au sample is hosted in metavolcanic and metasedimentary rocks near a granite-greenstone contact. According to the company, anomalous samples cluster near the interpreted granite-greenstone belt margin identified in regional magnetics.