First Tellurium Reports on Share Price and Recent Tellurium News from Australia

Thermoelectric applications, batteries and solar panels are driving tellurium demand now and for the next decade.

Vancouver, BC, Canada – TheNewswire – November 16, 2023 – First Tellurium Corp. (CSE:FTEL) (OTC:FSTTF), reports that, further to recent downward pressure on the Company’s stock price, there is no known negative news, other than general market sentiment, affecting the share price.

“Our situation has not changed,” said First Tellurium President and CEO Tyrone Docherty. “We are awaiting a significant amount of information from the Deer Horn property, which we believe will be positive, including interpretation of both the recent IP survey and property-wide sampling conducted over the summer and fall.”

Docherty added, “The general news and trends around tellurium, and critical metals in general, remains bullish for both the near and long term.”

Docherty pointed to a November 14, 2023 article from Market Open Australia, titled “Tellurium Comes First,” which highlighted First Tellurium and described the Company as “…the lone explorer with a tellurium focus.” A key theme was the metal’s overall scarcity and growing demand, particularly for solar panels, new lithium-tellurium batteries, and thermoelectric technology.

The article quoted the U.S. Department of Energy’s recent 2023 Critical Minerals Assessment regarding tellurium supply and demand: “Without significant expansion of the tellurium supply capacity,” the DOE stated, “shortages of Te could occur in the short term (2025) and are likely in the medium term (2025-2035).”

The article also stated: “Tellurium, one of the rarest metals on earth, is facing a shortage that could soon become scarce. The refrigeration industry is in a buying frenzy, causing a strain on supplies of tellurium needed for thermo-electrics.”

“We are well aware of the advancements in, and potential for, thermoelectric applications,” said Docherty. “It’s why we purchased controlling interest in a U.S. based, thermoelectric-focused research and development company, which we announced in May of this year.

Faith in long-term demand for tellurium was reinforced by Market Open Australia, noting Rio Tinto’s decision to open a tellurium plant at its Kennecott Mine in Utah. The facility will supply tellurium to First Solar for the manufacture of thin-film, cadmium-telluride solar panels.

“Tellurium is considered a critical metal in both Canada and the United States,” said Docherty. “Being the only junior focused on tellurium exploration, it comes as no surprise to us that we have a number of tellurium users in contact with us.”

First Tellurium’s 2023 exploration season at Deer Horn, now complete, was assisted by Imperial Metals at their nearby Huckleberry Mine. “We’re most grateful for the support and cooperation we received from everyone at Imperial,” said Docherty. “They were fantastic to work with, and we couldn’t have completed some of our work without them.”

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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