First Class Metals PLC ('First Class Metals' 'FCM' or the 'Company') the UK metals exploration company focused on the discovery of economic metal deposits across its extensive Canadian - northwest Ontario, land holding is pleased to provide an update on exploration activities.

Highlights

Zigzag Lithium-Initial reconnaissance trip with the property completely under the cover of snow returns grades of Lithium (Li) up to 1.00% and Tantalum (Ta) up to 198 ppm.

McKellar REE Diatreme-Channel sampling of diatreme verifies historical findings and further evidenced Rare Earth Element (REE) system.

Esa-Extensive soil sampling campaign to build on the successful 2022 program completed with 539 samples now awaiting assay results.

Sunbeam-Historic data and core reviews completed alongside extensive

prospecting, sampling, and mapping program which includes rediscovery of a 3m wide quartz vein on the Pettigrew Trend.

North Hemlo-Exploration at North Hemlo initiated focused on the Dead Otter trend.

Marc J. Sale CEO First Class Metals Commented: 'FCM remains focussed on bringing four of our key properties to drill ready status this field season. It is our stated intent, permits notwithstanding, of drilling at least one of these properties this season. The 2023 field season has started well and with the support of EGS1 I feel we are currently on track to accomplishing this objective'.

Zigzag Lithium The 6 claim Zigzag claim block is situated in a developing, prolific lithium endowered pegmatite belt, 60km northeast of Armstrong, Ontario. During a winter reconnaissance of the Zigzag property in order to assess access the team identified an old trench for which sample information was not available. Four samples were collected from the in situ debris flanking the trench. The results, tabulated below validate previous sampling, with values up to 1.0% (10,000ppm)

It is important to take these samples in context: this being that the site was covered in several feet of snow and it was specifically an access appraisal , that any samples were collected were a bonus. However to carry out prospecting in such conditions and produce these results gives great confidence on the wider mineralisation of the property. The exploration programme , going forward when logistics and other factors allow is to establish a temporary field camp at Zigzag to conduct a programme of sawn channel sampling to quantify the distribution of metals (Li / Ta) along the known 800m strike and width which is estimated at up to 20m

McKellar Polymetallic Project

FCM is pleased to announce the results from the recent sampling of the McKellar diatreme have been received: not only confirming but enhancing the historic sampling. The McKellar property, comprising 66 claims covers 12.5km-2 is situated in prime geological terrain within the Coldwell complex. Located to the west of the Generation Mining's Palladium Project, McKellar is roughly 25 kilometres from the town of Marathon, the main service centre for Barrick's Hemlo mine

The diatreme occupies a topographic low and occurs within a north trending linear stricture. The breccia may have been emplaced within a shear or fault zone, however, geologic data supporting this possibility are lacking. In total 18 sawn channel samples of approximately 1m were collected across the exposed diatreme, in addition 5 grab samples were also collect for assay. In 2013 prospecting, the results of geological mapping and rock sampling (5 bedrock grab samples were taken) of the diatreme, results of which and other assayed samples from the diatreme area are included in table 2 below along with the results from the highest two samples from FCM's recent sampling

The available historic geophysics was sourced for / by Paterson Grant and Watson (PGW) who reprocessed and interpreted the data. Their report not only highlighted the three main trends but has also assisted in a better understanding of the district scale structures as well as identifying additional areas for prospecting Prospecting of the three main trends by EGS and a team from Bjorkman Prospecting focussed on areas outside the main developments and has identified veining within the three structures previously without reported assays. A significant number of samples have been collected and submitted for analysis. Another aspect highlighted by the historical review was the lack of drilling undertaken on the Pettigrew development area and the limited drill holes that had assays reported showed very promising results from near surface:

First Class Metals PLC - Background

First Class Metals is focussed on exploration in Ontario, Canada which is considered a top global destination for exploration with a robust and thriving junior mineral exploration sector. Specifically, the Hemlo 'camp' is a proven world class address for gold /VMS exploration. This geological terrane has significant production, both base / precious metals and a prolific number of exploration projects and numerous prospector's 'showings'. FCM currently holds 100% ownership of seven claim blocks covering over 180km-2 along a 150km strike of the Hemlo-Schreiber-Dayohessarah greenstone belt which also contains the >23M oz shear hosted Hemlo gold mine operated by Barrick Gold. Late last year FCM completed the option to purchase the historical high grade (gold) Sunbeam past producing mine The significant potential of the properties for precious, base and battery metals relate to: 'nearology' insomuch that all properties lie close to identified mineral anomalism, for example Palladium One's RJ and Smoke Lake nickel projects are close to the FCM's West Pickle Lake drill proven Ni-Cu project. This also demonstrates the second critical asset the properties hold: vector, anomalies, be they geological, geochemical, or geophysical that have demonstrated mineral potential extend on to FCM's properties. The inferred shear on the Esa property is being explored by neighbours both to the west and east where it crosses into their properties. Furthermore, the properties have not been extensively explored either historically or more contemporaneously . This is attributable to the overall lack of outcrop. However, modern exploration techniques are better able to 'see through' the ground cover and to identify

Forward Looking Statements

Certain statements in this announcement may contain forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as 'aim', 'anticipate', 'target', 'expect', 'estimate', 'intend', 'plan', 'goal', 'believe', or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.anomalies.

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