FTEL:CC - First Tellurium Agrees to Acquire Additional 24% of PyroDelta Energy and New Thermoelectric Device

(TheNewswire)

Upon completion of the agreement, First Tellurium willown 75% of PyroDelta.

Vancouver, BC, Canada, May 22,2024 – TheNewswire – First Tellurium Corp. (CSE: FTEL , OTC: FSTTF ),reports that it has committed to acquire an additional 24% ofPyroDelta Energy Corp. (“PyroDelta”), for US$705,000, from MichaelAbdelmaseh, inventor and developer of the next-generation,tellurium-based thermoelectric device first announced October 19,2023 . With completion of the 24%acquisition, First Tellurium will own a total of 75% of PyroDelta.First Tellurium has advanced Mr. Abdelmaseh $300,000 to bring FirstTellurium’s ownership to approximately 61%, with the remaining$405,000 to be advanced by March 21, 2025 to complete the 75%acquisition.

PyroDelta has completed the R&D phase of the deviceand is now exploring options for manufacturing. Patents have beenapplied for in both Canada and the United States.

“Since our first announcement about the device, therehas been keen interest from other parties in the green energysector,” said First Tellurium president and CEO Tyrone Docherty.“With a 75% ownership interest, we now have the flexibility to bringin other partners, should the opportunity arise, while still retainingmajority ownership. Strategically, these parties could offer importantadvantages for everyone, both technically and financially, down theroad. We look forward to taking the technology further.”

As reported March13 and March19 , 2024, the new thermoelectricdevice offers significant advantages over current devices, includingfar higher tolerance to temperature extremes and lighter weight. Theseadvantages have broad applications for electric and combustion enginevehicles, solar energy, greenhouses, long range drones andmore.

Docherty added that First Tellurium’s recentpresentation at the Energy Transition Metals Summit in Washington DCwas well received by an audience that included key players in thecritical metals sector. “We were the only tellurium-focused companyat the conference, and we remain the only junior miner focused ontellurium exploration,” said Docherty. “After describingtellurium-related opportunities in solid state, next-generationlithium-tellurium batteries as well as the thermoelectric device, wehad a number of interesting inquiries. The batteries offer importantadvantages in safety and energy efficiency, while the thermoelectricdevice could be a game-changer for both electric and combustion enginefuel consumption. In addition, the device has the potential to greatlyimprove the range of drones for both industry and defense.”

About First Tellurium Corp.

First Tellurium’s unique business model is togenerate revenue and value through mineral discovery, projectdevelopment, project generation and cooperative access to untappedmineral regions in Indigenous territory with sustainableexploration.

Our Klondike tellurium-gold property in Colorado andpolymetallic Deer Horn Project in British Columbia anchor adiversified search for metals, working in alliance with Indigenouspeoples, NGOs, governments and leading metals buyers. This is thefuture of mineral exploration—generating revenue by exploringresponsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to, and supports, theprinciples and rights set out in the United Nations Declaration on theRights of Indigenous Peoples and in particular the fundamentalproposition of free, prior and informed consent. First Tellurium islisted on the Canadian Stock Exchange under the symbol “FTEL” andon the OTC under the symbol “FSTTF”. Further information aboutFTEL and its projects can be found on www.firsttellurium.com .

Neither theCanadian Securities Exchange nor its regulations services acceptresponsibility for the adequacy or accuracy of this release.

Forward-lookinginformation

All statements included in thispress release that address activities, events or developments that theCompany expects, believes or anticipates will or may occur in thefuture are forward-looking statements.  These forward-lookingstatements involve numerous assumptions made by the Company based onits experience, perception of historical trends, current conditions,expected future developments and other factors it believes areappropriate in the circumstances. In addition, these statementsinvolve substantial known and unknown risks and uncertainties thatcontribute to the possibility that the predictions, forecasts,projections and other forward-looking statements will proveinaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-lookingstatements.  Except as required by law, the Company does not intendto revise or update these forward-looking statements after the datehereof or revise them to reflect the occurrence of futureunanticipated event.

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