GODYD - First Tellurium Provides Clarification on Drilling at Deer Horn

(TheNewswire)

Drilling in 2023 adds to information from previous55-hole campaign.

Vancouver, BC, Canada – TheNewswire - March 8, 2024 –First Tellurium Corp. (CSE: FTEL , OTC: FSTTF ), reports that,further to its March 7 news release regarding drilling and sampling results from the Deer Horn Property inwest-central British Columbia, the Company would like to providecontext in relation to previous drilling at Deer Horn.

“Since issuing yesterday’s news, we’ve hadinquiries from shareholders and investors who thought this was thefirst time we had drilled at Deer Horn,” said First TelluriumPresident and CEO Tyrone Docherty. “I want to clarify that aprevious, 55-hole, 3,772-meter diamond drill program was conducted atDeer Horn, which encountered high gold-silver-tellurium grades in theMain Vein area and contributed to a positive Preliminary EconomicAssessment* (PEA) in 2018.”

The previous drilling was shallow due to near-surfacemineralization, with holes ranging in depths from 25.5 meters to 150.6meters. The zone remained open at depth and to the east and west.Drilling did not test any of the newly discovered copper porphyry orother areas of a mineralized zone that now covers approximately 17.5square kilometers. Exploration in 2022 and 2023 indicated that theAu-Ag-Te vein system and copper porphyry are part of a larger,connected mineralized system, as reported in our August 31, 2023 and March 7, 2024 news releases.

For details on the previous drill program, please referto the PEA on our website .

“We plan to drill other areas of the property in2024, following up on the copper porphyry and the Main Vein area,”said Docherty. “As noted in the March 7 news release, our drillingin 2023 was cut short due to regional wildfires. We put down one holethat we thought would provide the most information to inform upcomingdrilling this year.”

Added Docherty, “Adding the copper porphyry to ourexploration targets, and discovering that the porphyry and veinsystems are part of one large system, has turned Deer Horn into avaluable exploration asset.”

* NI-43-101 TECHNICAL REPORT ON THE PRELIMINARYECONOMIC ASSESSMENT FOR THE DEER HORN GOLD-SILVER-TELLURIUM PROPERTY,May 31, 2018, authored by Tracey Meintjes P.Eng., Bob Lane P.Geo.,Gary Giroux P.Eng., and Marc Schulte P.Eng.

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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