Foremost Lithium Resource & Technology Ltd. announced that it has made the second and final cash payment in the amount of $17,500 plus GST for the acquisition of Lac Simard South Property (the Property), previously announced on March 20, 2023. Lac Simard South land package consists of 80 mineral claims covering 11,482 acres/4,647 hectares. Lac Simard South Property is located approximately 90km southwest from the NAL Lithium Processing Plant (a Piedmont/Sayona Joint Venture) (?NAL?).

On September 06, 2023, NAL announced the receipt of the first cash proceeds following the inaugural shipment of lithium spodumene concentrate to the international lithium market. The first shipment consisted of approximately 20,500 wmt (19,200 dry metric tonnes or dmt) of spodumene concentrate and was sold via a major trading company. Lac Simard South Property is located in a well-developed mining region with readily available support facilities and services and is situated 80km southwest of Val-D'or, an established logistics hub for mining services.

Val-d?Or is a city with a population of 30,000 and is well-known for its mining history, with an experienced mining workforce. The Property is easily accessible year-round by way of well-maintained roads, with little overburden connecting and within a few km from major highways. The province of Quebec is a major producer of electricity and hydropower generators in the world, and a hydroelectric power plant is situated right within the property claim block, allowing access to grid power and low-cost hydroelectricity.

The Company intends to begin a future work program to test the identified pegmatites associated in Quebec?s active lithium, mining, and refining region. The exploration program?s first steps are expected to include ground truthing to confirm and describe the nature of the identified pegmatites as well as prospecting selected areas to find lithium-bearing pegmatites. Uses of indirect techniques such as drone-assisted magnetic surveys, in addition to surficial geochemical surveys including MMI, will be contemplated in areas with scarce outcrops to help delineate new targets prospective for lithium-bearing pegmatites.

Foremost will strategize further plans upon the return of initial assay results.