First Lithium Minerals Announces Flow-Through Financing

Rhea-AI Summary

First Lithium Minerals (OTC:FLMCF) has announced a flow-through financing initiative to raise up to $600,000 through the issuance of up to 7.5 million flow-through shares at $0.08 per share.

The proceeds will be used for eligible Canadian exploration expenses qualifying as flow-through mining expenditures on the Company's exploration properties in Ontario. These qualifying expenditures will be renounced to subscribers with an effective date no later than December 31, 2025. The issued securities will have a four-month and one-day hold period from closing.

Positive

• Raising up to $600,000 in new capital for exploration activities
• Tax benefits for investors through flow-through share structure

Negative

• Potential dilution from issuance of 7.5 million new shares
• Share price discount relative to market price

Toronto, Ontario--(Newsfile Corp. - September 5, 2025) - First Lithium Minerals Corp. (CSE: FLM) (OTC Pink: FLMCF) (FSE: X28) ("First Lithium Minerals" or the "Company") announces that it intends to complete a flow-through financing for gross proceeds of up to $600,000 (the "Offering"). The Company will issue up to 7,500,000 flow-through shares (the "Flow-Through Shares") at an issue price of $0.08 per share.

The Flow-Through Shares will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). The gross proceeds from the offering will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Company's exploration properties located in the Province of Ontario. The Qualifying Expenditures will be renounced in favour of the subscribers with an effective date no later than December 31, 2025 and in the aggregate amount of not less than the total amount of the gross proceeds raised from the offering.

All securities issued under the offering will be subject to a hold period expiring four months and one day from the date of the closing.

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 located 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 drilling permits, licences and agreements. First Lithium Minerals is also exploring for gold and critical metals at its 100% owned Lidstone project comprised of 17,300 ha of mining claims in northwestern Ontario, Canada.

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

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/265215

FAQ

What is the size and price of First Lithium Minerals' (FLMCF) flow-through financing?

First Lithium Minerals is offering up to 7.5 million flow-through shares at $0.08 per share to raise up to $600,000.

How will First Lithium Minerals (FLMCF) use the proceeds from the flow-through financing?

The proceeds will be used for eligible Canadian exploration expenses qualifying as flow-through mining expenditures on the company's exploration properties in Ontario.

When will First Lithium Minerals (FLMCF) renounce the flow-through expenditures to subscribers?

The qualifying expenditures will be renounced to subscribers with an effective date no later than December 31, 2025.

What is the hold period for the new First Lithium Minerals (FLMCF) flow-through shares?

The securities issued under the offering will have a hold period of four months and one day from the closing date.

What tax benefits do First Lithium Minerals' (FLMCF) flow-through shares offer to investors?

The flow-through shares qualify under the Income Tax Act (Canada), allowing investors to claim eligible Canadian exploration expenses as tax deductions.