First Energy Hires Digitial Marketing Consultant and Doubles Drill Program at Augustus Lithium Property

VANCOUVER, BC, June 14, 2021 /CNW/ - First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce it has engaged Sidis holdings Limited. ("Sidis") and Maynard Communications Limited. ("Maynard") to provide corporate communications services to the Company. The services provided by both Sidis and Maynard include, but are not limited to, SEO, digital media campaigns for branding, Media Consulting, General Business Development, Multimedia services and Project Management. A significant amount of time will also be devoted to product and services marketing/ advertising.  The comprehensive advertising program is designed to build brand familiarity, general recognition, and awareness within online investor content platforms

The term of the agreement extends from the effective date of June 14, 2021 until the digital media marketing campaign and related media buying concludes. The Company will pay $ 300,000 to Sidis for a 30-month period for the above services. In addition, the Company will pay $300,000 for a 6-month period to Maynard. First Energy may elect to prepay the above noted expenses with cash on hand.

Each of the above noted parties are arm's length consultants have been retained to provide digital marketing primarily using Google ads, digital media, corporate advisory, branding and strategic business services to the Company. Neither First Energy nor any of its directors, officers or employees have any interest, directly or indirectly, in Sidis or Maynard, or their securities, or any right or intent to acquire such an interest.

In addition, the Company is pleased to announce it is nearing a milestone of completing its initial 5,000 metre drill program at the Augustus Lithium Property. To date First Energy has drilled 23 holes on both the Augustus and Canada Lithium Prospect with a cumulative drilling of 4,063 metres. To date Augustus has 12 holes drilled and Canada Lithium Prospect has had 11 holes drilled. Both the surface and drill exploration have yielded encouraging results to date and with that in mind First Energy will be increasing the drill program by an additional 5,000 metres. 

Lastly, the Company would like to announce a non-brokered private placement financing of $1,000,000, the financing will consist of the issuance of up to 2,985,074 at $0.335 cents per unit. Each unit consist of one common share plus one fill warrant to purchase an additional common share at $0.40 cents for a 24-month period

The proceeds will be used for exploration and development of Company's mineral properties, and general working capital. One or more existing insiders may be participating in the financing as approved by independent directors. The Company is relying on an exemption from the related party requirements of MI 61-101.

Closing of the proposed private placement is subject to obtaining all required approvals, including from the CSE and any other regulatory approval. The securities will be subject to a four-month hold period plus one day under applicable securities laws. 

About First Energy Metals Limited.

First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.
The company's strategy is to:

• Acquire and advance projects through prospecting and early-stage exploration.
• Source joint venture partners to finance future exploration and project development.
• Create shareholder value through exploration success.

First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.

ON BEHALF OF THE BOARD OF
FIRST ENERGY METALS LTD.

"Gurminder Sangha"
Gurminder Sangha
President & Chief Executive Officer

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information 

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company above noted announcement; and other risks as more fully set out in the Company's continuous disclosure filings at www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals and close the above noted Transaction. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

SOURCE First Energy Metals Limited