COMEX Recommends the Approval of Hydro-Québec’S Connection and Powerline Relocation Project to Power the Rose Lithium- Tantalum Project
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PRESS RELEASE
COMEX RECOMMENDS THE APPROVAL OF HYDRO-QUÉBEC’S CONNECTION
AND POWERLINE RELOCATION PROJECT TO POWER THE ROSE LITHIUM-
TANTALUM PROJECT
February 6, 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 the
Environmental and Social Impact Review Committee (the “ COMEX ”) ”), an independent body composed of
members appointed by the governments of Québec and the Cree Nation, has completed its review of
Hydro-Québec’s connection of the Rose Lithium-Tanta lum mine and 315-kV Eastmain-1-Nemiscau
powerline relocation project, and recommends that t he Québec Minister of the Environment, the Fight
against Climate Change, Wildlife and Parks (the “ Minister ”) authorize the connection and powerline
relocation project, subject to certain conditions.
The recommendation was adopted at the 408 th meeting of the COMEX held on November 2, 2022, however
it was just recently made public with the release of the minutes of the meeting on the COMEX website.
This is another significant step for the Rose Lithi um-Tantalum Project (“ Rose ” or the “ Project ”). For the
Project to go forward, Hydro-Québec will have to re locate 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 transfor mer
substation, and connect the mine to the Eastmain-1-Nemiscau powerline.
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
COMEX recommending that the Minister authorize Hydr o-Québec’s connection and powerline relocation
project, the Corporation is getting a step closer to moving forward with the Project.
“With the COMEX recommending the authorization of Hydro-Québec’s connection and powerline relocation
project, we hope that Hydro-Québec will soon get th e required authorization from the Minister of the
Environment, the Fight against Climate Change, Wild life and Parks. We are excited about the prospect o f
moving forward with the Rose Lithium-Tantalum Proje ct in the 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 93% 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
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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.
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 Rose
Lithium-Tantalum Project. Forward-looking informati on is based on assumptions management believes to b e
reasonable at the time such statements are made. Th ere can be no assurance that such statements will p rove 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 Corpor ation’s Management Discussion and Analysis for its most recent
quarter ended November 30, 2022 and other disclosur e 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.