Consolidated Lithium Announces Vallée JV Intersects 1.04% Li2O over 7.15 m Assay Results from Baillargé Summer Program Encouraging

February 15, 2024

Toronto, Canada – Consolidated Lithium Metals Inc. (TSXV: CLM | OTCQB: JORFF | FRA: Z36) (“CLM” or the “Company“) is pleased to announce that joint venture partner North American Lithium, Sayona Mining Inc.’s majority-owned subsidiary, (“NAL”) has reported to the Company the final set of assay results from the last 40 holes of the 2023 summer drilling program at the Vallée joint venture (the “Vallée JV”) lithium project, located approximately 30 km north of Val-d’Or, Quebec within the heart of the Vallée Lithium Corridor (see Figure 1). The 2023 summer drilling program consisted of 58 holes totaling 15,607 m. CLM released the results of the first 18 holes in its news release dated January 11, 2024, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca.

The Company is also pleased to announce that analy�cal results have been received for the 29 drill holes completed and all surface channel samples from the outcrop stripping program, both parts of the 2023 summer explora�on program at the Company’s 100% owned Baillargé Lithium Project (“Baillargé”). Baillargé is located in the Abi�bi Greenstone Belt approximately 21 km northwest of Val D’Or, Quebec (see Figure 1).

Vallée JV 2023 Drilling Results

The 2023 summer drilling program succeeded at tracing lithium-bearing pegma�te mineraliza�on associated with the adjacent NAL opera�ng lithium mine across the en�re width of the Vallée JV property (the “JV Property”) from northwest to southeast (see Figure 2). Thicker high-grade mineralized intersec�ons were located along the northwestern and southeastern sec�ons of the Core Pegma�te Dyke. The 2023 program extended the Core Pegma�te 700 m to the southeast from the area defined by CLM’s 2021 and 2022 drilling programs.

Highlights from the second set of results include a high grade intersec�on in hole VAL-23-051 that averaged 1.04% Li2O over 7.15 m from 157.15 to 164.30 m, an interval in VAL-23-051 of 17.60 m that averaged 0.55% Li2O from 112.50 to 130.10 m that included a higher grade subinterval of 1.25% Li2O over 3.20 m from 112.50 to 115.70 m, and a wide intersec�on of 16.02 m from VAL-23-057 that averaged 0.50% Li2O from 132.73 to 148.75 m that included a subinterval of 1.29% Li2O over 2.36 m from 140.74 to 143.10 m (see Tables 1 and 4).

Two high-grade intersec�ons were also discovered in VAL-23-042, located north of the Core Pegma�te trend (see Figure 3). The first interval averaged 1.43% Li2O over 3.60 m from 167.55 to 171.15 m within an interval of 0.60% Li2O over 17.00 m from 163.00 to 180.00 m. The second interval averaged 0,68% Li2O over 23.30 m from 215.50 to 238.80 m that included a subinterval of 0.95% Li2O over 10.20 m from 216.55 to 226.75 m.

The extension of the Core Pegma�te to the eastern property boundary during the drill program is considered to be a very exci�ng development for CLM. The Company’s East Vallée project is located immediately adjacent to the JV Property (see Figures 2 and 3). We expect that the Core Pegma�te and adjacent spodumene-bearing dykes likely con�nue onto CLM’s 100% owned property. The East Vallée project overlies an addi�onal 5 km of the Vallée Lithium Trend that has never been drill-tested for lithium (see Figure 2). The tracing of the Core Pegma�te to the southeast end of the property, and the discovery of numerous addi�onal lithium-bearing pegma�tes defined during the 2023 summer Vallée JV drilling program immediately south of the Core Pegma�te in the same area has defined highpriority drill targets for the Vallée East project (see Figure 3). The Company is currently in the process of planning and permi�ng a drill program to follow-up these results on the East Vallée project in the coming months.

Table 1 – Highlights of the 2023 Vallée JV Drilling Program

CLM also intends to review and interpret the 2023 results in collabora�on with the 2021-2022 CLM drill results in the northwest end of the Core Pegma�te Trend immediately adjacent to the NAL lithium mine. The objec�ve of the review will be to determine if sufficient drilling has been completed to establish a mineral resource in that area.

“The 2023 drilling helped support CLM’s work over the previous two years to further refine the extension of the NAL Mine Pegmatites where they crossed onto the JV Property. We are eager to work with our partner NAL to dig into these results to determine the potential to develop extensions or satellite lenses along the west boundary adjacent to their current mining operation. However, the Company is also very excited about the possibilities on our 100% owned East Vallée project. Now that the spodumene-bearing pegmatites have been extended right to the property boundary, the Company is focused on continuing to trace the Core Pegmatite along strike to look for what we hope will be the next big pegmatite blow-out somewhere along the 5 km trend that has yet to see any lithium drilling.” - Richard Quesnel, Execu�ve Chair, Consolidated Lithium Metals Inc.

Baillargé 2023 Explora�on Program Results

In addi�on, the Company is pleased to announce that analy�cal results have been received for the 29 drill holes completed and all surface channel samples from the outcrop stripping program, both parts of the 2023 summer explora�on program at the Company’s 100% owned Baillargé Lithium Project (“Baillargé”). Baillargé is located in the Abi�bi Greenstone Belt approximately 21 km northwest of Val D’Or, Quebec (see Figure 1).

The summer explora�on program consisted of three key but separate components:

• a 29 hole, 4747 m drilling program;
• an outcrop stripping and channel sampling program; and
• a soil sampling program covering the area between the Baillargé Est Showing (see Figure 1) and the Chubb Showing, which is located 1.1 km southeast and along strike of the area that was the subject of the summer drilling program.

The completed summer drill program totaled 4,747 m of drilling in 29 holes which targeted the extensions of outcropping pegma�tes at the Baillargé Est Showing, located just south of Lac Baillargé. Lithium mineraliza�on was first found at Baillargé Est in 1955 by Amos Lithium Corpora�on Limited (see Government of Quebec, Ressources Naturelles et Forets, SIGÉOM files GM 3404 and GM 4109-B at:

htps://sigeom.mines.gouv.qc.ca/signet/classes/I1103_index?format=COMPLET&type_reqt=U&mode=NOUVELLE&l =A&ent=GM&alias_table_crit=F4E02&mnen_crit=NUMR_INTER&oper_crit=EGAL&valr_crit=5454.)

The drill program was successful at extending the three known spodumene-bearing pegma�tes at depth and along strike to the southeast. The program also discovered seven addi�onal lithium-bearing pegma�tes between and adjacent to the previously known dykes (see Figure 4) all within an area measuring 500 m by 450 m. All ten dykes remain open for expansion along strike in both direc�ons and at depth.

Seven holes intersected lithium mineraliza�on exceeding 0.20% Li2O (see Table 2). Six anomalous intersec�ons were obtained from the D7 pegma�te, and one each from the D1, D2, D3, D5 and D7 pegma�tes. Assay results from the D7 pegma�te are closely spaced to areas proximal to higher lithium concentra�ons from the channel sampling program and to the historical drill results.

Table 2 – Assay Results from 2023 Summer Drilling – Baillargé Project

Core lengths are estimated to be approximately 90-95% of true width The 2022 outcrop stripping campaign was expanded in 2023 to extend the stripped areas north of Dykes 3 and 7. Stripping was also done under the BE Lithium Soil Anomaly (see CLM News Release dated July 10, 2023) which led to the discovery of Dyke 5. Channel samples were collected along lines spaced at 5 m to 10 m intervals along the new dyke discoveries and along the extended stripped areas at D3 and D7.

Four different lines containing significant channel sample anomalies were discovered at the north end of the D3 stripping area, immediately overlying and within 10 m of the up-dip projec�on of the D3 intersec�on of hole B23-16 (see Figure 4).

Channel R5 returned 0.83% Li2O over 8.16 m and had a peak sample of 2.15% Li2O over 1.02 m. Channel R7, located 5 m south of R5, averaged 0.86% Li2O over 5.37 m including a single sample of 2.10% Li2O over 1.00 m. The highlights of the results of the channel sampling program are included in Table 3 below.

Table 3 – Assay Results from 2023 Summer Channel Sampling – Baillargé Project

Channel R23 was located on the newly discovered Dyke 5 immediately under the BE Lithium Anomaly that averaged 0.38% Li2O over 1.96 m (see Figure 2).

Figure 1 – CLM Regional Projects Map [property boundaries from Company resources and historical drill hole, geology and showing informa�on from the Government of Quebec website htps://sigeom.mines.gouv.qc.ca/signet/classes/I1108_afchCarteIntr Figure 2 – Loca�on of drilling and the Core Pegma�te Trend from the NAL Mine to East Vallée Project.

Figure 3 – Close-up of the 2023 Vallee JV Drilling Program

Figure 4 – Final Assay Results – 2023 Baillargé Program

About the Vallée JV

The JV Property is located immediately adjacent to, and along strike of NAL’s opera�ons, the largest lithium opera�on in North America (see Figure 1). The JV Property is majority-owned by CLM, with NAL having an op�on to earn up to a 51% interest therein (see the Company’s news releases dated November 14, 2022, December 19, 2022, and January 11, 2024, each of which are also available under the Company’s SEDAR+ profile at www.sedarplus.ca). NAL earned its ini�al 25% interest in the JV Property pursuant to its first op�on in late 2023. NAL has a second op�on to spend an addi�onal C$6 million by November 14, 2024 to earn a cumula�ve 50% interest.

Analy�cal Procedures – Vallée JV Project