First Lithium Minerals Corp Completes Flow-Through Financing

Rhea-AI Summary

First Lithium Minerals (OTC:FLMCF) has completed a flow-through financing, raising gross proceeds of $75,000 through the issuance of 937,500 flow-through shares at $0.08 per share.

The company paid finders fees of $2,450 in cash and issued 30,625 finders warrants, exercisable at $0.08 per share for 18 months. Company insiders participated in the financing, purchasing 500,000 Flow-Through Shares. The securities issued will have a four-month and one-day hold period from closing.

Positive

• None.

Negative

• Small financing amount indicates limited scope of potential operations
• Dilution of existing shareholders through new share issuance

Toronto, Ontario--(Newsfile Corp. - September 26, 2025) - First Lithium Minerals Corp. (CSE: FLM) (OTC Pink: FLMCF) (FSE: X28) ("First Lithium Minerals" or the "Company") announces that it has completed its previously announced flow-through financing for gross proceeds of $75,000. The Company issued 937,500 flow-through shares (the "Flow-Through Shares") at an issue price of $0.08 per share.

Finders fees were paid totalling $2,450 of cash and 30,625 finders warrants, with each finder warrant exercisable into a common share at an exercise price of $0.08 per share for 18 months.

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.

Insiders of the Company purchased 500,000 Flow-Through Shares. The participation by the insider constitutes a "related party transaction" within the meaning of the policies of the CSE and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying upon the exemptions from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101 on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction insofar as it involves interested parties (within the meaning of MI 61-101) in the financing exceeds 25% of the Company's market capitalization calculated in accordance with MI 61-101, and on the basis that no securities of the Company are listed or quoted on a stock exchange as specified in MI 61-101.

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/268227

FAQ

How much did First Lithium Minerals (FLMCF) raise in its flow-through financing?

First Lithium Minerals raised $75,000 through the issuance of 937,500 flow-through shares at $0.08 per share.

What was the insider participation in FLMCF's flow-through financing?

Insiders of First Lithium Minerals purchased 500,000 Flow-Through Shares, representing a significant portion of the offering.

What are the terms of the finders warrants issued by FLMCF?

The company issued 30,625 finders warrants, exercisable at $0.08 per share for a period of 18 months.

What is the hold period for the securities issued in FLMCF's financing?

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