Approval of the Rehabilitation and Restoration Plan Concerning the Rose Lithium -T Antalum Mining Project
NEWS RELEASE
APPROVAL OF THE REHABILITATION AND RESTORATION PLAN CONCERNING THE ROSE
LITHIUM -T ANTALUM MINING PROJECT
May 13, 2022 - M ONTRÉAL , QUÉBEC – Critical Elements Lithium Corporation (the “ Company ” or
“Critical Elements ”) (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) is pleased to announce that
the Québec Minister of Energy and Natural Resources (the “ Minister”) has approved the
rehabilitation and restoration plan concerning the Rose Lithium-Tantalum Mining Project (the “ Rose
Lithium-Tantalum Project” or the “ Project”).
The approval of the rehabilitation and restoration plan is a prerequisite to the granting of the mining
lease that will be necessary to move forward with t he Project. The rehabilitation and restoration
plan contains, in particular the description of the rehabilitation and restoration work relating to th e
Project and a detailed estimate of the expected costs to be incurred for completing the work. Now
that the rehabilitation and restoration plan is app roved, the Corporation must furnish a guarantee
covering the anticipated cost of completing the wor k required under the rehabilitation and
restoration plan, in accordance with the schedule o f payments established pursuant to applicable
laws.
"We are very pleased with the decision regarding th e rehabilitation and restoration plan for the
Rose Lithium-Tantalum Project, which is a necessary step toward securing the mining lease,"
stated Jean-Sébastien Lavallée, CEO of Critical Elements.
With the approval of the plan, the Company is making progress in the overall approval process for
the Project. In August 2021, Critical Elements announced that the Federal Minister of Environment
and Climate Change had rendered a favourable decision in respect of the proposed Rose Project.
In a Decision Statement, which included the conditi ons to be complied with by the Company, the
Minister confirmed that the Project is not likely t o cause significant adverse environmental effects
when mitigation measures are taken into account (se e the Company’s news release dated
August 11, 2021 , for more details). The final remaining step in th e Project’s approval is the
completion of the provincial permitting process, which runs parallel to the federal process. Pursuant
to the James Bay and Northern Quebec Agreement (JBNQA), the provincial environmental
assessment is conducted jointly by the Cree Nation Government and the Government of Quebec
under the Environmental and Social Impact Review Co mmittee (“ COMEX ”). The provincial
assessment is well advanced and has undergone sever al rounds of questions from COMEX that
have been answered by Critical Elements in the normal course of the assessment process. At this
time, Critical Elements has received no further questions from COMEX and remains confident in a
positive outcome.
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. Rose is the Corporation’s first lithium project to
be advanced within a land portfolio of over 700 squ are kilometers. In 2017, the Corporation
completed a feasibility study on Rose for the produ ction of spodumene concentrate. The internal
rate of return for the Project is estimated at 34.9 % after tax, with a net present value estimated at
C$726 million at an 8% discount rate. In the Corpor ation’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 93% hydroelectricity. The proj ect has received approval from the Federal
Minister of Environment and Climate Change on the r ecommendation of the Joint Assessment
Committee, comprised of representatives from the Impact Assessment Agency of Canada and the
Cree Nation Government; The Corporation is working to obtain similar approval under the Québec
environmental assessment process. The Corporation also has a good, formalized relationship with
the Cree Nation.
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
legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology
such as “scheduled”, “anticipates”, “expects” or “d oes not expect”, “is expected”, “scheduled”, “targe ted”, or
“believes”, or variations of such words and phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occu r” or “be achieved”. Forward-looking information co ntained
herein include, without limitation, statements relating to the completion of the 2022 exploration program and
its related objectives, the completion of the provincial permitting process and its potential positive effects on
the Corporation and the Project, the completion of engineering study for a chemical plant to produce high
quality lithium hydroxide monohydrate, the preparat ion of the front-end engineering design work for th e
process plant and related infrastructure, the updat e to the 2017 Feasibility Study, off-take agreement s and
purchasers for the Corporation’s products, securing sufficient financing on acceptable terms and conti nued
positive discussions and relationships with local communities and stakeholders. 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 st atements. Accordingly, readers should not place und ue
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 may cause actual results to differ materially from
expected results described in forward-looking infor mation include, but are not limited to: results of the
Corporation’s 2022 exploration program and effects on the Corporation’s stated objectives, results of the
engineering study for a chemical plant to produce h igh quality lithium hydroxide monohydrate, issues
encountered in connection with the front-end engine ering work, impact of the Updated Feasibility Study on
the Project, Critical Elements’ ability to secure s ufficient financing to advance and complete the Pro ject,
uncertainties associated with the Corporation’s resource and reserve estimates, uncertainties regarding global
supply and demand for lithium and tantalum and mark et and sales prices, uncertainties associated with
securing off-take agreements and customer contracts , uncertainties with respect to social, community a nd
environmental impacts, uncertainties with respect to optimization opportunities for the Project, as well as those
risk factors set out in the Corporation’s year-end Management Discussion and Analysis dated August 31, 2021
and other disclosure documents available under the Corporation’s SEDAR profile. Forward-looking
information contained herein is made 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.