Announcement • May 27
First Lithium Minerals Corp. announced that it expects to receive CAD 5.434249 million in funding First Lithium Minerals Corp. announced a private placement of up to 44,856,810 Non-Flow Through units of the Company at a price of CAD 0.11 per NFT Unit for aggregate gross proceeds of up to approximately CAD 4,934,249.1 and up to 3,333,333 Flow Through units of the company at an issue price of CAD 0.15 for gross proceeds of CAD 499,999.95 and aggregate gross proceeds of CAD 5,434,249.05 on May 25, 2026. Each NFT Unit is comprised of one common share and one-half of one common share purchase warrant. Each Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 0.18 for a period of three (3) years commencing 60 days after the closing date. Each FT Unit is comprised of one common share that qualifies as a "flow-through share" and one-half of one warrant. The NFT Units and FT Units issued to Canadian resident subscribers under the Listed Issuer Financing Exemption, and the Common Shares and Warrants underlying the NFT Units and FT Units, will not be subject to a hold period pursuant to applicable Canadian securities laws other than the 60-day restriction on the Warrants. The offering is expected to close on or about June 9, 2026 or such other date as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals. The Company may pay finder's fees in connection with the offering comprised of cash equal to 8% of the gross proceeds of the offering and finder warrants equal to 8% of the number of Units issued under the offering, provided that the cash fee and Finder's Warrants will be reduced to 4% for any president's list subscribers up to CAD 2,000,000. Each Finders Warrant will be exercisable for one (1)additional Unit at a price of CAD 0.11 for a period of three (3) years which will have the same terms as the PP Units. New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings have declined by 1.1% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.2m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 1.1% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$13.5m market cap, or US$9.70m). New Risk • Nov 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.2m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.78m market cap, or US$4.12m). 
