First Energy Metals Grants Incentive Stock Options

VANCOUVER, BC,Feb. 9, 2021/CNW/ –First Energy Metals Ltd.(CSE: FE) (“First Energy”or the “Company) announces that it has granted incentive stock options to certain directors, officers and consultants to purchase up to an aggregate of 2,640,000 common shares under the Company’s Incentive Stock Option Plan. The options will be exercisable for a period of five (5) years, at an exercise price of$0.21per share.The stock option grant will be subject to a four-month hold period and is subject to Canadian Securities Exchange approval.

About First Energy Metals Limited.First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its 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 finance future exploration and project development;
• Create shareholder value through exploration success.

First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.ON BEHALF OF THE BOARD OF FIRST ENERGY METALS LTD.“Gurminder Sangha”Gurminder SanghaPresident & Chief Executive Officer

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information

Except for the statements of historical fact, thisnews releasecontains “forward-looking information” within the meaning of the applicableCanadian securitieslegislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company; and otherforward-looking informationincludes butisnot limitedtoinformation concerning the intentions, plans andfutureactions of the partiestothe transactions described hereinandthe terms thereon.Factors that could cause actual resultstodiffer materially from those described in suchforward-looking informationinclude, but are not limited to, the Company’s operations may not be completed on the terms and timing currently contemplated, or at all; and other risksasmore fully set out in the Company’s continuous disclosure filings at www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee offutureperformance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

SOURCE First Energy Metals LimitedView original content:http://www.newswire.ca/en/releases/archive/February2021/09/c5662.html