PRESS RELEASE

from Critical Elements Lithium Corporation (isin : CA22675W1077)

Critical Elements Lithium Provides a Corporate Update

HIGHLIGHTS

  • Critical Elements confirms ongoing interest and progress in the Rose Project financing negotiations with potential strategic partners.
  • Critical Elements continues to work towards a Rose Project timeline that targets commencement of production of high quality spodumene concentrate in 2026.
  • Management continues its procurement program to purchase long lead time items to protect the Rose Project timeline.
  • Detailed engineering continues to advance with a high degree of confidence consistent with the Rose Project timeline.
  • Programs to meet extensive pre-construction requirements under governmental authorizations and the 2019 Pihkuutaau Agreement are on-target.
  • An initial drill program to test the new Rose West discovery and other targets is expected to commence in early 2024.
  • While the market for lithium and lithium equities has corrected over the past year, management views the future positively.

MONTRÉAL, QC / ACCESSWIRE / December 20, 2023 / Critical Elements Lithium Corporation (TSX-V:CRE)(OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased with the progress being made to advance the unique Rose Lithium-Tantalum Project ("Rose Project") in Eeyou Istchee, Québec and, ultimately, achieve its vision to become a large-scale, sustainable, and reliable vertically integrated supplier of lithium for the emerging electric vehicle and energy storage industries.

The Rose Lithium-Tantalum project ("Rose or the "Project") is situated within the Rose and Rose South property blocks (Figure 1), which constitute 395 km2, or only 38% of the Corporation's highly prospective 1,050 km2 exploration portfolio in Québec.

Summer 2023 Prospecting Results

During the summer of 2023, Critical Elements conducted a prospecting program over several areas, including the Rose, Rose South, Rose North and Nemaska belt properties. The objective of the field program was to identify new pegmatite bodies using systematic rock geochemical sampling of all pegmatite bodies in order to refine the geological interpretation of the properties and prioritize further exploration work including drilling. A total of 774 rock samples were collected (866 samples including QA/QC) during the exploration campaign with 95 samples reporting values over 100 ppm Ta2O5 and/or values over 0.10% Li2O.

As reported on September 12th, 2023 and in October 17th, 2023, the press releases state several new outcrop discoveries have been identified in the Rose pegmatite swarm. To date, 4 spodumene-bearing pegmatite outcrops have been identified in this New Discovery Area. At this early stage, the exact strike length, width and orientations of these dykes is unknown, but the apparent strike length along the outcrops exceeds 400m. All results from the summer program have now been received with selected results over 3% Li2O including 3.18% Li2O, 3.00% Li2O, 3.98% Li2O, 3.91% Li2O, and 5.10% Li2O. Full table of best results is shown in Table 1. The reader is cautioned that grab samples are selective by nature and may not represent average grades of the mineralization in the pegmatites. Table 1 provides all sample results with values over 100 ppm Ta2O5 and/or values over 0.10% Li2O. Remaining samples did not return significant values.

Table 1: Best new results from summer program 2023

Property

Sample

UTM NAD 83 ZN18

Li2O

T a2O5

Type

number

Easting

Northing

(%)

(ppm)

Rose

H873531

421352

5768890

0.01

185

Grab

Rose

H873532

421268

5768886

1.69

72

Boulder

Rose

H873533

421093

5768907

1.66

86

Boulder

Rose

H873536

420412

5768913

0.63

69

Grab

Rose

H873538

420723

5768722

0.00

164

Grab

Rose

H873539

421393

5768515

0.01

167

Boulder

Rose

H873542

421543

5767658

0.99

107

Boulder

Rose

H873675

421414

5768519

1.65

105

Boulder

Rose

H873677

421332

5768427

0.01

298

Boulder

Rose

H873679

421290

5768348

0.00

258

Grab

Rose

H873681

420588

5768104

0.01

170

Grab

Rose

H873684

421233

5767712

0.84

116

Boulder

Rose

H873685

421314

5767757

1.88

76

Boulder

Rose

H873686

421505

5768053

1.54

167

Boulder

Rose

H873697

421495

5767336

0.93

136

Boulder

Rose

H873698

421498

5767337

1.24

135

Boulder

Lemare

H873721

471869

5735655

0.01

110

Grab

Lemare

H873736

472499

5734797

0.01

124

Grab

Rose

H874055

422629

5767034

0.01

195

Grab

Rose

H874238

412188

5763913

0.01

365

Boulder

Rose

H874242

416007

5759675

1.07

50

Boulder

Rose

H874307

419413

5764506

1.69

57

Grab

Rose

H874312

417940

5761003

0.01

108

Boulder

Rose

H874317

411112

5763622

2.92

338

Grab

Rose

H874404

420826

5765183

2.19

136

Boulder

Rose

H874408

420600

5764228

0.01

471

Grab

Rose

H874409

420604

5764235

0.01

183

Grab

Rose

H874411

420576

5764152

0.01

123

Grab

Rose

H874413

420511

5764032

0.08

410

Grab

Rose

H874423

419508

5761920

3.18

204

Boulder

Rose

H874425

411269

5763692

0.03

447

Grab

Rose

H874427

411110

5763619

2.79

277

Grab

Rose

H874428

411129

5763660

2.61

80

Grab

Rose

H874429

411188

5763702

1.84

371

Grab

Rose

H874431

411201

5763699

3.00

274

Grab

Rose

H905009

411110

5763619

1.09

911

Grab

Rose

H905011

411153

5763748

0.46

170

Grab

Rose

H905013

411060

5763918

3.62

551

Grab

Rose

H905204

411111

5763618

2.95

116

Grab

Rose

H905205

411112

5763617

3.98

214

Grab

Rose

H905206

411112

5763617

3.91

225

Grab

Rose

H905207

411112

5763620

1.45

107

Grab

Rose

H905208

411112

5763620

1.60

114

Grab

Rose

H905209

411113

5763621

2.40

105

Grab

Rose

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