TSX VENTURE EXCHANGE: FE
U.S. 20-F Registration: 000-29870
OTC BULLETIN BOARD: ASKDF
FRANKFURT STOCK EXCHANGE:
DFL
VANCOUVER, March 26, 2018 /CNW/ - First Energy Metals
Limited ("First Energy" or the "Company") is pleased to provide an
update on the Company's exploration activities regarding the
Phyllis Cobalt Property.
The exploration team has successfully located historical
trenching locations on the Phyllis Cobalt Property. The team is
currently sampling an 80 meter wide alteration zone and analyzing
the structural and lithological contacts to further understand the
deposit. The alteration zone will be analyzed in detail through the
use of a handheld XRF device. This will qualitatively determine the
zone's potential for Co, Cu, Ni, PGEs, and Au. The Company will
then proceed with channel sampling and prospecting to select
samples for assay.
All technical information in this news release was reviewed and
prepared under the supervision of Mr. Alexander Pleson, P.Geo., an independent
Qualified Person to First Energy Metals Ltd.
The Company would also like to announce the resignation of
Ernest Peters as Chief Executive
Officer and Director. The Company thanks Mr. Peters for his
contributions toward the development of the Company. The Company
has appointed Gurminder Sangha as
Chief Executive Officer of the Company to replace Mr. Peters,
effective immediately.
In addition, the Company is pleased to announce the appointment
of Dr. Muzzaffer Sultan as VP Exploration and Director of First
Energy. Dr. Sultan brings extensive experience in mineral
exploration, 3D modelling, surface and underground exploration of
mineral properties. Dr. Sultan holds a Ph.D in Geology and Masters
of Science from the University of South
Carolina.
On behalf of the Board of Directors of
FIRST ENERGY
METALS LIMITED
"Gurminder Sangha"
Gurminder Sangha
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within
the meaning of the Canadian securities laws. Forward-looking
information in this news release includes statements about share
consolidation.
In connection with the forward-looking information contained in
this news release, First Energy has made numerous assumptions
regarding, among other things: TSXV regulatory approval for planned
transactions. While First Energy considers these assumptions
to be reasonable, these assumptions are inherently subject to
significant uncertainties and contingencies.
Additionally, there are known and unknown risk factors which
could cause First Energy's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein. Known risk
factors include, among others: regulatory approval may not be
obtained on a timely basis, or at all; the Company may require
additional working capital sooner than predicted; the overall
economy may deteriorate; uncertainty as to the availability and
terms of future financing.
A more complete discussion of the risks and uncertainties facing
First Energy is disclosed in First Energy 's continuous disclosure
filings with Canadian securities regulatory authorities at
www.sedar.com. All forward-looking information herein is
qualified in its entirety by this cautionary statement, and First
Energy disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law.
SOURCE First Energy Metals Limited