First Tellurium Establishes New Thermoelectric Venture

Vancouver, April 12, 2023 - First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the "Company" or "First Tellurium"), today announced that it has established, and holds a controlling interest in, a thermoelectric technology-focused research, development and commercialization business 1406975 BC Ltd. ("NewCo"). NewCo aims to explore new uses of tellurium and develop improved thermoelectric generators that could be used in the renewable energy and automotive industries. NewCo allows First Tellurium to focus on opportunities aligned with the Company's long-term strategy to accelerate vertical, innovation-driven growth and will position NewCo to take on research and development projects to potentially unlock future value.

"Thermoelectric applications, whereby heat is converted to electricity, represent the number two use of tellurium worldwide," said First Tellurium President and CEO Tyrone Docherty. "Tellurium's unique properties make it an ideal material for this process. Our new venture allows us to take these properties further and pursue potential solutions for some of the world's most pressing problems related to greenhouse gases and fossil fuel dependence."

The scientific journal Nature Communications, in an article titled "Tellurium as a High-Performance Elemental Thermoelectric," noted: "Thermoelectric devices, which enable a direct conversion between heat and electricity…have attracted increasing interest as a sustainable and emission free solution to the imminent global energy crisis and environment pollution for a few decades."

"We see unlimited opportunities for the growth and uses of tellurium," Docherty added. "One of our key goals is to position First Tellurium at the forefront of the sector's innovation, particularly around renewable energy and energy efficiency, and therefore drive value in the Company."

About First Tellurium Corp.
First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.

Our Klondike tellurium-gold property in Colorado and polymetallic Deer Horn Project in British Columbia anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration-generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to, and supports, the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent. First Tellurium is listed on the Canadian Stock Exchange under the symbol "FTEL" and on the OTC under the symbol "FSTTF". Further information about FTEL and its projects can be found on www.firsttellurium.com.

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.