Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

10 February 2022

Firering Strategic Minerals plc ("Firering" or "the Company")

Geological update Atex Project

Firering to Fast-Track Diamond Drilling Programme

Firering today announces that further mapping by SEMS Exploration on and around Spodumene Hill at Firering's flagship Atex Project in Côte d'Ivoire has identified additional pegmatite outcrops as well as more lithium-bearing pegmatite float, allowing for the fast-tracking of a diamond drilling programme.

Key highlights:

·   As of 4 February 2022, Royal Mining completed 348 auger holes as part of the Phase 1 drilling programme; 120m of the first of four trenches across Spodumene Hill was also completed.

·   Mapping in the surrounding area has revealed several new pegmatites, with apparent widths ranging from a few metres to over 100m; some of these pegmatites feature quartz-rich and muscovite-rich zones, like the one on Spodumene Hill.

·    Completion of the planned trenches on Spodumene Hill will allow for an accurate interpretation (size/structure) of the mineralised pegmatite and assist with the planning of a diamond drilling programme; initial discussions with drilling contractors have already commenced.

·  Diamond drill programme targeting the hard rock lithium bearing pegmatites on track to commence in Q2.

·    A reinterpretation of the recent pegmatite map of the area has identified a number of pegmatites south south-east of Spodumene Hill.  See the updated map: (https://www.fireringplc.com/gallery.php?pID=207&page=Image_Library). This, again, confirms that the potential pegmatite field appears significantly larger than identified from previous historical results.

·   Initial observations of the first trench dug indicate a highly weathered pegmatite, comprising muscovite, feldspar and quartz, with an apparent width of ≈100m. This pegmatite underlies the occurrences of spodumene on the hill and is upslope of numerous lepidolite boulders.

·    Several new areas containing boulders of lithium-bearing pegmatite float have also been identified around Spodumene Hill, suggesting that some of the pegmatites along strike of the deposit may be similarly evolved/mineralised pegmatites (https://www.fireringplc.com/gallery.php?pID=207&page=Image_Library).

·    348 auger holes have been completed for a total of 2,153m, with an average hole depth of 6.2m; these auger holes are assisting in determining the location and extents of the pegmatite veins below the overburden, as well enabling the Company to sample the overburden for the coltan-tantalum mineralisation.

·    2,316 prepared samples have arrived at Intertek Laboratories in Perth for 4-acid digest. First assay results for the coltan mineralisation in the overburden are expected in Q1.

·    Historical pits dug in three zones are being located and properly surveyed. Firering will select pits in each zone that will be 'twinned'. A 100kg representative sample from each zone will be sent to Coremet in Johannesburg for metallurgical test work to confirm the coltan mineralisation identified previously and better characterise it.

Yuval Cohen, Chief Executive of Firering Strategic Minerals, said:

"We are delighted that the recent detailed mapping of the area around Spodumene Hill has, once again, identified additional pegmatites zones. We are similarly excited that the current interpretation of our potential pegmatite field, in turn, allows us to bring forward our diamond drilling programme targeting fresh pegmatite discovery."

"2022 is shaping up to be a pivotal year for Firering as we advance on our lithium and tantalum-coltan journey in West Africa."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information and updates on Firering's exploration programme, visit www.fireringplc.com or contact the following:

Notes to Editors:

Firering Strategic Minerals

Firering Strategic Minerals plc is an AIM-quoted mining company focused on exploring and developing a portfolio of mines producing critical minerals in Côte d'Ivoire including lithium and columbite-tantalite to support the global transition to net zero emissions. It operates the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, which is prospective for both lithium and columbite-tantalite.  Firering intends to advance development at Atex with a view to establishing pilot scale production of tantalum and niobium production within 18 months to generate early revenues and support further exploration work.  A large-scale coltan production facility will be developed following pilot results, which will be supported by a debt facility of FCFA 5,057,000,000 (approximately €7,500,000) currently under negotiation to fund the entire scale-up plan to develop a portfolio of ethically sourced mineral projects in the Côte d'Ivoire, supplying EV batteries, high tech electronics and other fast-growing end markets.

SEMS Exploration

SEMS Exploration is the leading full-service mineral exploration and mining consultancy company in West Africa. It provides a full range of geological, mining engineering and environmental services; from grassroots reconnaissance through mineral resource estimations, project management and mine design to the supervision of feasibility studies. SEMS has provided technical and corporate support services to the Mineral Exploration and Mining Industry of West and Central Africa since 2002.  It has a reputation for dedicated, high-quality work which has attracted a high calibre of staff from all disciplines within the mining sector.

Royal Mining

West African based Royal Mining are experienced operators in the region with clients including Atlantic Lithium's (previously called IronRidge Resources) gold and lithium licences in Côte d'Ivoire and Ghana. RM's activities will be overseen by SEMS of Côte d'Ivoire and mining consultants CSA Global of South Africa.