Critical Elements Appoints Eric Zaunscherb to Its Board of Directors
PRESS RELEASE
CRITICAL ELEMENTS APPOINTS ERIC ZAUNSCHERB TO ITS BOARD OF DIRECTORS
MARCH 19, 2020 – M ONTREAL , Q UEBEC – Critical Elements Lithium Corporation (the
“Corporation” or “Critical Elements”) (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) is pleased
to announce the appointment of Mr. Eric Zaunscherb to its Board of Directors as an independent
Director, effective immediately.
Mr. Zaunscherb is a Canadian geologist with over 32 years, and 6 cycles, of experience as a mining
analyst. He most recently served as Managing Direct or, Research – Metals & Mining Analyst at
Canaccord Genuity where he co-ordinated the firm’s global mining equity research team. He has
enjoyed working in Toronto, Vancouver, and London, experiencing best practices in Capital
Markets at several leading firms and conducting hundreds of exploration, development and mining
project site visits globally. He embraces new techn ologies and industry initiatives in diversity and
socially responsible investing, ensuring that local communities receive lasting benefits from mineral
resource development.
In connection with this appointment, Mr. Zaunscherb has been awarded 200,000 stock options of
the Corporation at an exercise price of $0.24 per share exercisable within a five-year period.
Jean-Sébastien Lavallée, Chief Executive Officer of Critical Elements, stated, “We are very pleased
to welcome Eric Zaunscherb to our Board of Director s. Eric’s extensive experience and strengths
in the mining and financial industries makes him an excellent addition to our Board. It is invaluable
to have his combined expertise in mining and financ e as Critical Elements transitions from a
developer to a producer. Critical Elements will continue to strengthen the team as we permit, project
finance and build the Rose Lithium-Tantalum project in Québec”.
Mr. Lavallée, also stated, “During this uncertain and rapidly evolving time, we will continue to make
decisions and take all the measures necessary recom mended by Health Canada/Sante Quebec.
This period requires sacrifices from each and every one of us and I thank you in advance for your
resilience and trust. Let's take care of one anoth er in order to maintain our health and security,
and we will emerge from this stronger and more closely united”.
About Critical Elements Lithium Corporation
The Corporation released a financial analysis for C ritical Elements’ wholly-owned Rose Lithium
Tantalum project (Rose Lithium-Tantalum project fea sibility study, WSP, November 29, 2017),
which is based on price forecasts of US $750/tonne for chemical-grade lithium concentrate (5%
Li 2O), US $1,500/tonne for technical-grade lithium con centrate (6% Li 2O) and US $130/kg for
Ta2O5 in tantalite concentrate, and an exchange rate of US $0.75/CA $. The internal rate of return
(“IRR”) for the Rose Lithium-Tantalum project is estimated at 34.9% after tax, and net present value
(“NPV”) is estimated at CA $726 million at an 8% di scount rate. The estimated payback period is
2.8 years. The pre-tax IRR for the Rose Lithium-Tan talum Project is estimated at 48.2% and the
pre-tax NPV at CA $1,257 million at an 8% discount rate (see press release dated September 6,
2017). The financial analysis is based on the Indic ated mineral resource. An Indicated mineral
resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and
physical characteristics can be estimated with a le vel of confidence sufficient to allow the
appropriate application of technical and economic p arameters, to support mine planning and
evaluation of the economic viability of the deposit . The life-of-mine (LOM) plan provides for the
extraction of 26.8 million tonnes of ore, 182.4 mil lion tonnes of waste, and 11.0 million tonnes of
overburden for a total of 220.2 million tonnes of material. The average stripping ratio is 7.2 tonnes
per tonne of ore. The nominal production rate is es timated at 4,600 tonnes per day, with 350
operating days per year. The open pit mining schedule allows for a 17-year mine life. The mine will
produce a total of 26.8 million tonnes of ore grading an average of 0.85% Li2O and 133 ppm Ta2O5,
including dilution. The mill will process 1.61 mill ion tonnes of ore per year to produce an annual
average of 236,532 tonnes of technical and chemical grade spodumene concentrate and 429
tonnes of tantalite concentrate.
FOR MORE INFORMATION:
Jean-Sébastien Lavallée, P.Geo.
Chief Executive Officer
819-354-5146
www.cecorp.ca
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