March 25, 2021

Wealth Letter
Analyst Report

First Energy
Metals Ltd.
CSE: FE| OTC: ASKDF | WKN: A2JC89
https://www.firstenergymetals.com
 CSE: FE| OTC: ASKDF | WKN: A2JC89

A Strong Portfolio of Mining Assets Well Positioned in the Quickly

Growing Battery Metals and Precious Metals Markets
First Energy Metals is a publicly traded Canadian mineral exploration company with a primary
focus of acquiring a multi-commodity mineral property portfolio. Their 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 fund future exploration and project development
Create shareholder value through exploration success.
First Energy will continue to add to its multi-commodity portfolio through organic acquisitions of
new projects and opportunities with the intention of adding value and projects over time. The
Company's common shares trade on the Canadian Securities Exchange (CSE) under the symbol FE
and are also listed on the US OTC Markets (Pink) as ASKDF and on the Frankfurt Stock Exchange as
A2JC89.

Financial Highlights

info@wealthletter.ca March 25, 2021

 CSE: FE| OTC: ASKDF | WKN: A2JC89

Strong Financing Ability

Problem:
Battery Metals Demand Steadily
Rising, With a Scarce Supply
Demand for lithium, a key component in
the construction of Lithium-ion batteries
power electric vehicles (EVs), is expected to
surge in the next few years. In 2020 total
lithium demand is skyrocketing, and will 3x
over the next 10 years. Continued demand
from the growth in portable electronics and
the EV market is expected outstrip
production and create a massive deficit
unless new deposits are found. Projected Lithium Consumption from 2021 - 2030

info@wealthletter.ca March 25, 2021

 CSE: FE| OTC: ASKDF | WKN: A2JC89

Solution:
Val d’Or Quebec, a Lithium-Rich Mining area, the Augustus Lithium
Property presents a noteworthy exploration target.

First Energy Metals Ltd. entered an option

agreement to acquire a lithium
exploration property located in
Landrienne & Lacorne-Townships, Quebec,
Canada. The geology and the mineralization
of the Augustus property are similar to the
geology and mineralization of Quebec
Lithium mine located approximately 6
kilometers to the southeast of the property.

There are two lithium prospects

(Augustus and Canadian Lithium) and
one silver on the property which have been
explored intermittently since 1948.

On Febraury 8th, First Energy expanded

their footprint by acquiring options 2
additional claims making up ~671
hectares.

Augustus Lithium Property Highlights

The Property is a part of the Preissac–Lacorne pegmatite fields where spodumene bearing lithium
pegmatites were discovered in 1940s'. There are several historical and currently active lithium
and molybdenum prospects/mines located approximately 3 km to 20 km from the Property. Some of
the important prospects/mines are: Mine Quebec Lithium which was formerly owned by RB
Energy, Authier Lithium owned by Sayona Mining of Australia, Valor Lithium, Duval Lithium,
Lacorne Lithium, International Lithium, Vallee Lithium, and Moly Hill Mine. Total lithium resources
for this region are over 50 million tonnes at 1% lithium oxide out of which Mine Quebec Lithium
has 32 MT at 1.19%Li2O Measured plus Indicated (M+I), Authier has 17.18 million tonnes at 1.01%
Li2O (M+I) are the most significant. There are two prominent lithium prospects (Augustus and
Canadian Lithium) and one silver on the property which have been explored intermittently since
1948.

info@wealthletter.ca March 25, 2021

 CSE: FE| OTC: ASKDF | WKN: A2JC89

Breaking News: First Energy Metals Assayed 2.80 Percent Lithium

Oxide In Samples From Augustus Lithium Property
Vancouver, B.C. (March 16, 2021) – First Energy Metals Ltd. is pleased to announce assay results
of the first round of channel sampling from the Augustus Lithium Property in Quebec, Canada. A
total of eleven selected channel samples were cut out of which 9 samples were from Augustus
Prospect and 2 from the Canadian Lithium Prospect.

The results indicated anomalous values of lithium and other rare metals where four samples
have lithium oxide (Li2O) values of over 1 percent and one sample assayed 2.8% (Li2O).

Gurminder Sangha, CEO of First Energy Metals stated that, “First Energy’s exploration plan is
progressing very well to confirm historical exploration work results on the property. The efforts of
our field crew are commendable as they were able to uncover the lithium pegmatites under
heavy snow cover. The fieldwork and channel sampling will continue as the weather is expected to
warm up during the coming weeks. First Energy is in the process of preparing a work plan on
the property which includes diamond core drilling, metallurgical testwork to see the
potential to produce battery grade lithium carbonate, and resource estimation. The
Company is contacting suitable contractors to secure drillers and consultants to move the project
forward. First Energy has also started the drill permitting process and will provide an update on
further development in all these aspects. To date, the Company has compiled historical drill hole
data, completed on the Property, for 74 historical dill holes with a cumulative drilling of 12,123.14
m, out which 6,024 m drilling was completed on two lithium prospects on the property. All this data
will help to develop future exploratory drill program and building a data base for NI 43-101
resource estimation”.
Cautionary Statement: Investors are cautioned that the potential quantity and grade mentioned above is conceptual in nature, there has been
insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a
mineral resource. The potential target is based upon historical drilling results taken from report GM03952 (April 27, 1956 and other sources from
MRNF Quebec.

info@wealthletter.ca March 25, 2021

 CSE: FE| OTC: ASKDF | WKN: A2JC89

Additional Assets and Business Components

The Company holds property portfolio consists of other exploration properties in both precious
and energy metal including the Titan Gold Property located in the located in the Detour-Fenlon
Greenstone Belt of east central Quebec. The property is comprised of 80 mining claims totaling
4,334 hectares. The Detour-Fenlon Greenstone Belt is host to the Detour Mine containing 20
million ounces of gold. Other precious metal properties include the Scramble Mine gold
property that consist of six mining claims covering an area of approximately 140 hectares
located in Jaffray Township, Kenora Mining District; and the Shaw Gold property that comprises
of 18 claims covering an area of approximately 693 hectares located in Timmins Area Ontario,
Canada. In addition, First Energy holds option agreements to acquire 100% interest the Phyllis
Cobalt Property which is located in the Kenora Mining District of Ontario, the property consists
of 112 mineral claim units totalling 1792 hectares in Grummett and Cathcart townships. The
property boasts year-round access 192km northwest of Thunder Bay, ON via Hwy 17 and 9km
south on a gravel forestry road.

On March 12th, 2021 First Energy increased its footprint in the Val d’Or, Quebec area through
acquiring a 100% interest into additional mining claims located near its Augustus Lithium
Property in Landrienne & Lacorne-Townships, Quebec, Canada. The newly acquired
properties consist of 242 mining claims covering a total area of 12,769.13 hectares located
approximately 40 kilometres northwest of the town of Val d’Or on map sheets 32C/05 and
32D08. The newly acquired property claims are spread in several claim blocks and some of the
claims are located adjacent to the Augustus Lithium Property.

info@wealthletter.ca March 25, 2021

 CSE: FE| OTC: ASKDF | WKN: A2JC89

Reasons for Operating

Economics – First Energy recognizes that this is an opportune time to focus on and develop an
dynamic mineral portfolio within a highly active areas. The world is bullish on Gold and Lithium and
our Company is seeking further exciting opportunities.
Earn In – First Energy’s team has extensive exploration experience and the conditions of our
Option Agreements allow us a clear track for 100% ownership with reasonable expenditures.

Experienced, Well-Established Team with a Strong Track Record

Gurminder Sanga - President, CEO and Director:
Mr. Sangha is experienced in the financial industry with a particular focus of providing advisory
services to both private and publicly traded companies.

Jurgen Wolf - Chief Financial Officer and Corporate Secretary:

Mr. Wolf has been involved in the oil and gas industry for more than 15 years, assisting public
companies with investor relations and administration.

Craig Alford, MSc. P.Geo – Director:

Mr. Alford holds both a Bachelor of Science (Hons) and a Master of Science in Geology.

Lyle McLennan – Director:

Mr. McLennan brings over 20 years of experience in the financial services sector as a licenced
broker.

Jason Grewal – Director:

Mr. Grewal is a solicitor in England and Wales and admitted as an attorney in the state of New
York.

info@wealthletter.ca March 25, 2021

 CSE: FE| OTC: ASKDF | WKN: A2JC89

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info@wealthletter.ca March 25, 2021