Approval of Hydro-Québec’S Connection and Powerline Relocation Project to Power the Rose Lithium-Tantalum Project
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PRESS RELEASE
APPROVAL OF HYDRO-QUÉBEC’S CONNECTION AND POWERLINE
RELOCATION PROJECT TO POWER THE ROSE LITHIUM-TANTALUM PROJECT
February 28, 2023 - M ONTRÉAL , QUÉBEC – Critical Elements Lithium Corporation (TSX-V: CRE ) (US
OTCQX: CRECF) (FSE: F12) (" Critical Elements " or the " Corporation ") is pleased to announce that, on
January 9, 2023, following the positive recommendat ion by the Environmental and Social Impact Review
Committee (the “ COMEX ”), the Québec Minister of the Environment, the Fig ht against Climate Change,
Wildlife and Parks (the “ Minister ”) has authorized Hydro-Québec’s connection and pow erline relocation
project, subject to certain conditions.
This is another significant step forward for the Ro se Lithium-Tantalum Project (“ Rose ” or the “ Project ”).
For the Project to go forward, Hydro-Québec will have to relocate a segment of the Eastmain-1-Nemiscau
line (which currently crosses the future mine site on a distance of 4.1 km), construct a 315/25-kV transformer
substation, and connect the mine to the Eastmain-1-Nemiscau powerline. Hydro-Québec derives over 94%
of its electricity from hydropower with almost all of the remainder generated from renewable sources. Critical
Elements is fortunate to be situated in Québec for several reasons including access to one of the cleanest
electricity grids globally.
With the favourable decision of the Federal Ministe r of Environment and Climate Change rendered in
August 2021, the approval by the Québec Minister of Natural Resources and Forests of the rehabilitatio n
and restoration plan concerning the Project in May 2022, the receipt of the Certificate of Authorizati on
pursuant to section 164 of Québec’s Environment Quality Act from the Minister in November 2022, and the
Minister authorizing Hydro-Québec’s connection and powerline relocation project in January 2023, the
Corporation is getting a step closer making a final investment decision for the Project.
“With the Minister of the Environment, the Fight aga inst Climate Change, Wildlife and Parks authorizing
Hydro-Québec’s connection and powerline relocation project, we are excited about the prospect of moving
forward with the Rose Lithium-Tantalum Project in t he James Bay Eeyou Istchee region ,” stated Jean-
Sébastien Lavallée, CEO of Critical Elements.
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle
and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high
purity Rose lithium project in Québec, the Corporat ion’s first lithium project to be advanced within a land
portfolio of over 1,050 square kilometers. On June 13 th , 2022, the Corporation announced results of a
feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return
for the Project is estimated at 82.4%, with an esti mated after-tax net present value of US$1.9 B at an 8%
discount rate. In the Corporation’s view, Québec is strategically well-positioned for US and EU markets and
boasts good infrastructure including a low-cost, low-carbon power grid featuring 94% hydroelectricity. The
project has received approval from the Federal Mini ster of Environment and Climate Change on the
recommendation of the Joint Assessment Committee, c omprised of representatives from the Impact
Assessment Agency of Canada and the Cree Nation Gov ernment and also received the Certificate of
Authorization pursuant to section 164 of Québec's Environment Quality Act from the Québec Minister of the
Environment, the Fight against Climate Change, Wildlife and Parks.
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For further information, please contact:
Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
www.cecorp.ca
Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
www.cecorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement concerning forward-looking statements
This news release contains “forward-looking informa tion” within the meaning of Canadian Securities leg islation.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “scheduled”,
“anticipates”, “expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, or “believes”, or variations of such
words and phrases or statements that certain action s, events or results “may”, “could”, “would”, “migh t” or “will be
taken”, “occur” or “be achieved”. Forward-looking information contained herein include, without limitation, the permitting
process of the Rose Lithium-Tantalum Project,as well as the outcome of such process and positive effects for the the
Rose Lithium-Tantalum Project. Forward-looking information is based on assumptions management believes to be
reasonable at the time such statements are made. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such s tatements.
Accordingly, readers should not place undue reliance on forward-looking information.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially
from those contained in forward-looking information , there may be other factors that cause results not to be as
anticipated, estimated or intended. Factors that ma y cause actual results to differ materially from ex pected results
described in forward-looking information include, but are not limited to: the final outcome of the permitting process, the
Corporation’s ability to meet all conditions imposed thereunder and its effects on the development of the Rose Project,
, as well as those risk factors set out in the Corp oration’s Management Discussion and Analysis for its most recent
quarter ended November 30, 2022 and other disclosure documents available under the Corporation’s SEDAR profile.
Forward-looking information contained herein is mad e as of the date of this news release and Critical Elements
disclaims any obligation to update any forward-looking information, whether as a result of new information, future events
or results or otherwise, except as required by applicable securities laws.