Zigzag lithium-high grade channel samples

First Class Metals PLC ("First Class Metals" "FCM" or the "Company") the UK listed metals exploration company seeking economic metal discoveries across its extensive Canadian Schreiber-Hemlo, Sunbeam and Zigzag land holdings is pleased to announce a further, significant, update on the progress on the Zigzag property which is currently focussed on the lithium and tantalum potential.

Highlights:

Channel 7 2.36% lithium (Li2O) over 5.5m

including 2.5m at 3.44% Li2O.

• Channel sample results identify a >1% Li2O zone on the western portion of the 'core' 400m zone. Significant number of channel samples return more than >1% Li2O.
• Prospecting identifies mineralisation in a subparallel zone, assays pending.

Marc J. Sale First Class Metals CEO commented:

"The results from the channel samples have vindicated our enthusiasm to advance the potential of this property. The tenure of the spodumene and therefore the lithium reporting in the central sector of the property gives increased confidence in the prospectivity over the strike extensions. We are eagerly advancing the planning for drilling now the funds have been secured."

Figure 1 showing the Zigzag property with the recent sampling, both grabs and channels, focussing on the central portion of the claim block.

The channel sampling was based on the visually encouraging results from the prospecting and associated grab samples.

The complete table of the grab samples was reported in a previous news release, however the 10 best 'grabs' are reproduced below.

Table 1, showing the 10 highest grab samples along a 400m 'core' zone.

Nine channels were cut with lengths of under 5m to over 10m, channel lengths were usually controlled by overburden and not by diminished outcrop. A total of 80 samples were submitted to the laboratory for analysis, these included, where exposed not only the pegmatite but one, one metre sample in the host rock, which is in general mafic volcanics to the north and granitic rocks to the south.

The samples can therefore be easily segregated into four broad categories: mafic, pegmatitic, granitic pegmatites and granite.

Figure 2 showing the location of the channels relative to the 'core 400m' zone.

The results from the channels are very encouraging. It must be stressed that only hand stripping of vegetation was undertaken and often, exemplified by channels 5 and 7, the outcrop persisted but the vegetation cover was too onerous to be removed by hand. Accordingly it is felt that with mechanical stripping many of these channels could be extended. Additionally it is also likely that 'gaps' in the outcrop continuity might also be exposed as being pegmatite when exposed with mechanical stripping. The current permit allows both stripping and drilling.

The results have not only vindicated the grab samples in respect to the lithium oxide content but also highlighted again the presence of other important, critical minerals such as tantalum, gallium and rubidium.

Photo 1 showing the extent of outcrop exposed by hand stripping. Also not the change in rock type from mafic volcanics (closest) to granitic-pegmatite.

Hand stripping and channel sampling does not allow continuous sampling of the structure as it is obscured by soil, moss and other vegetation. It is believed that once mechanical stripping is undertaken the continuity of outcrops will be further enhanced.

Photo 2 showing sample of the spodumene rich pegmatite

Further prospecting and exploration

Prospecting and soil sample lines were conducted to the south of the 'main' pegmatite zone.

A subparallel structure has been identified to the south. Sample results are pending but visual evidence suggest a second pegmatite or a splay may exist to the south of the main zone which has been the current focus of exploration.