C RITICAL E LEMENTS FILES NI - 43 - 101 TECHNICAL REPORT FO R THE R OSE L ITHIUM - T ANTALUM FEASIBILITY STUDY O CTOBER 20 , 2017 - M ONTREAL , Q UEBEC – Critical Elements Corporation (the “ Company ” or “Critical
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PRESS RELEASE
C RITICAL E LEMENTS FILES NI - 43 - 101 TECHNICAL REPORT FO R THE
R OSE L ITHIUM - T ANTALUM FEASIBILITY STUDY
O CTOBER 20 , 2017 - M ONTREAL , Q UEBEC – Critical Elements Corporation (the “ Company ” or “Critical
Elements”) (TSX - V: CRE) (US OTCQX: CRECF ) (FSE: F12) is pleased to announce the filing on SEDAR
of a National Instrument ("NI") 43 - 101 technical report representing the qualifying report for the recently -
announced Feasibility Study at the Rose Lithium - Tantalum Project located in James Bay, Québe c.
Highlights of the Feasibility Study, previously reported by Critical Elements on September 6 , 201 7 , are as
follows:
Average annual production of 186,327 tonnes of chemical grade lithium concentrate
Average annual production of 50,205 tonnes of technic al grade lithium concentrate
Average annual production of 429 tonnes of tantalum concentrate
Expected l ife of mine of 17 years
Average operating costs of $66.56 per tonne milled, $458 (US$344) per tonne of concentrate (all
concentrate production combined)
Estimated initial capital cost $341.2 million before working capital
100% equity basis for project
Average gross margin 63.6%
After - tax NPV of $726 million (at 8% discount rate), after - tax IRR of 34.9% and price assumption
of US $ 1,500 per tonne technical g rade lithium concentrate, US$ 750 per tonne chemical grade
lithium concentrate, US$ 130 per kg tantalum pentoxide
A nticipated construction time to start of production of 21 months
A copy of the technical report, which was filed on October 20 , 201 7 , will be available on the Critical
Elements’ website a t https://www.cecorp.ca/en/rose - 43 - 101/ .
Qualified Persons for NI 43 - 101 compliant report
The feasibility study was prepared in accordance to 43 - 101 standa rds by WSP, Bumigeme I nc,
InnovExplo Inc. , and MRB & Associés. InnovExplo Inc . was responsible for the resource estimate and
the mine plan, Bumigeme Inc was responsible for the mineral processing, WSP was responsible for the
environmental study, the proj ect infrastructure, the market s t udy, the financial modelling, and the report
inte r gration , MRB & Associés was responsible for a djacent p roperties.
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The qualified persons for the study are:
InnoExplo Inc ;
- Pierre - Luc Richard, P.Geo, geologist
- Patrick Fre nette, Eng , mining engineer
Bumigeme;
- Florent Baril, Eng , metallurgical engineer
WSP;
- Eric Poirier, Eng , electrical engineer
- Olivier Joyal, geologist
- Philippe Rio Roberge, Eng, civil engineer
Others;
- Vincent Jourdain, PhD Eng, geology engineer
INFORMAT ION
Investor r elations:
Jean - Sébastien Lavallée, P. Geo.
Chairman and CEO
819 - 354 - 5146
www.cecorp.ca
Paradox Public Relations
514 - 341 - 0408
C AUTIONARY S TATEMENT C ONCERNING F ORWARD - L OOKING S TATEMENTS
This news release contains “forwa rd - looking information” 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 “does not expect”, “is expect ed”, “scheduled”, “targeted”, or “believes”, or
variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or
“will be taken”, “occur” or “be achieved”. Forward - looking information contained herei n include, without limitation,
statements relating to mineral reserve estimates, mineral resource estimates, realization of mineral reserve and
resource estimates, capital and operating costs estimates, the timing and amount of future production, costs of
production, success of mining operations, the ranking of the project in terms of cash cost and production, permitting,
economic return estimates, power and storage facilities, life of mine, social, community and environmental impacts,
lithium and tantalum markets and sales prices, off - take agreements and purchasers for the Company’s products,
environmental assessment and permitting, securing sufficient financing on acceptable terms, opportunities for short
and long term optimization of the Project, and cont inued 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 stateme nts will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward - looking information.
Although Critical Elements has atte mpted 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 ca use actual results to differ materially from expected results
described in forward - looking information include, but are not limited to: Critical Elements’ ability to secure sufficient
financing to advance and complete the Project, uncertainties associated with the Company’s resource and reserve
estimates, uncertainties regarding global supply and demand for lithium and tantalum and market and sales prices,
uncertainties associated with securing off - take agreements and customer contracts, uncertainties with respect to
social, community and environmental impacts, uncertainties with respect to optimization opportunities for the Project,
as well as those risk factors set out in the Company’s year - end Management Discussion and Analysis dated August
31, 2016 and o ther disclosure documents available under the Company’s SEDAR profile at www.sedar.com .
Forward - looking information contained herein is made as of the date of this news release and Critical Elements
disclaims any obliga tion 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.
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.