First Tellurium Reports Completion of New Thermoelectric Generator Prototype

Device has Demonstrated Potentially Significant Improvements in Heat-to-Energy Conversion and will Undergo Further Testing in Canada.

Vancouver, BC, Canada – TheNewswire – October 19, 2023 – First Tellurium Corp. (CSE:FTEL) (OTC:FSTTF), reports completion of the first prototype of an improved, tellurium-based thermoelectric generator with applications for improving the efficiency of electric vehicles, solar power generation and combustion engines. The prototype, developed in the U.S. by First Tellurium’s 51%-owned thermoelectric-focused research and development company (1406975 BC Ltd.), is being delivered to Vancouver and will undergo further testing in Canada.

“Completion of this prototype marks the next step of many towards what we believe will be innovative and valuable thermoelectric applications for tellurium,” said First Tellurium President and CEO Tyrone Docherty. “The generator, in its initial testing and development, has demonstrated potentially significant improvements in the conversion of heat to energy. We look forward to advancing the technology through further testing and research.”

As reported April 12, 2023, First Tellurium holds a controlling interest in 1406975 BC Ltd. (“NewCo”), a thermoelectric technology-focused research, development and commercialization business. 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 unlock potential future value.

“Tellurium’s advantages for heat-to-energy conversion have long been recognized and understood,” said Docherty. “With the pressing need to increase the efficiency of alternative energy sources and both electric and combustion vehicles, we are in a strategic position to advance tellurium’s thermoelectric applications and contribute to the worldwide shift away from fossil fuels.”

In a paper published in the scientific journal Nature Communications, the authors 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…”

“We look forward to reporting further progress in the development of the device,” said Docherty.

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.

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