CRE.V · 2024-04-15 12:00:00

Critical Elements Lithium Confirms Major Discovery at Rose WEST with Multiple Wide Lithium-Rich Intercepts

Drill Results

PRESS RELEASE

CRITICAL ELEMENTS LITHIUM CONFIRMS MAJOR DISCOVERY AT ROSE WEST WITH MULTIPLE

WIDE LITHIUM-RICH INTERCEPTS

HIGHLIGHTS

- 1.31% Li2O and 235 ppm Ta 2O5 over 40.40 m, including 1.64% Li2O and 219 ppm Ta 2O5 over

22.50 m in hole RD-24-20

- 2.22% Li2O and 95 ppm Ta2O5 over 20.30 m, including 2.78% Li2O and 92 ppm Ta2O5 over 10.50

m in hole RD-24-23A

- 1.30% Li2O and 142 ppm Ta2O5 over 31.60 m, including 1.59% Li2O and 130 ppm Ta2O5 over

25.50 m in hole RD-24-22

- 1.43% Li2O and 178 ppm Ta 2O5 over 24.95 m, including 1.91% Li2O and 145 ppm Ta 2O5 over

13.50 m in hole RD-24-16A

- 1.16% Li 2O and 145 ppm Ta 2O5 over 24.30 m , including 1.41% Li 2O et 159 ppm Ta 2O5 over

10.50 m in hole RD-24-21

- 1.66% Li2O and 180 ppm Ta2O5 over 12.20 m, including 2.34% Li2O and 153 ppm Ta 2O5 over

7.50 m in hole RD-24-07

April 15th, 202 4 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Corporation (TSX -V: CRE) (US

OTCQX: CRECF) (FSE: F12) ("Critical Elements" or the "Corporation") is pleased to announce the most

recent results from the winter 31-hole, 3,670-meter drill program on its 100% owned Rose West Discovery

with multiple wide intersections of lithium-rich pegmatites.

The Rose West Discovery (“Rose West”) is situated within the Rose and Rose South property blocks

(Figure 1) , which constitute 395 km2, or only 38% of the total 1,050 km2 in the Corporation’s highly

prospective exploration portfolio in Québec.

The 2024 winter drill campaign successfully completed 3,670 meters of drilling in 3 1 holes on the

spodumene-bearing pegmatite showings discovered during the 2023 summer prospecting campaign,

herein referred to as Rose West. Drilling results to date have demonstrated the continuity of a mineralized

pegmatite body, which thus far extends over 450 m strike, 370 m down dip and to a vertical depth of 140

m. In the west, the body is comprised of multiple near surface mineralized pegmatites that range up to an

apparent thickness of 12.40 m individually. These bodies appear to coalesce into a more substantial

spodumene-bearing pegmatite in the east with an apparent width of up to 40.4 0 m. The near surface

pegmatites appear to strike northwesterly with a gentle dip of 15 °, while the thicker pegmatite appears to

strike easterly with a near -horizontal dip of 13 °. The body is still open in all directions, while the greatest

exploration potential appears to be to the east.

New assay results from the drill program have been received for fourteen new drillholes. Several of the new

drillhole results returned wide high grade lithium assays, as highlighted:

- 1.31% Li2O and 235 ppm Ta 2O5 over 40.40 m, including 1.64% Li2O and 219 ppm Ta 2O5 over

22.50 m in hole RD-24-20

- 2.22% Li2O and 95 ppm Ta2O5 over 20.30 m, including 2.78% Li2O and 92 ppm Ta2O5 over 10.50

m in hole RD-24-23A

- 1.30% Li2O and 142 ppm Ta2O5 over 31.60 m, including 1.59% Li2O and 130 ppm Ta2O5 over

25.50 m in hole RD-24-22

- 1.43% Li2O and 178 ppm Ta 2O5 over 24.95 m, including 1.91% Li2O and 145 ppm Ta 2O5 over

13.50 m in hole RD-24-16A

- 1.16% Li 2O and 145 ppm Ta 2O5 over 24.30 m , including 1.41% Li 2O et 159 ppm Ta 2O5 over

10.50 m in hole RD-24-21

- 1.66% Li2O and 180 ppm Ta 2O5 over 12.20 m, including 2.34% Li2O and 153 ppm Ta 2O5 over

7.50 m in hole RD-24-07

- 2.16% Li2O and 81 ppm Ta2O5 over 6.70 m in hole RD-24-06

- 1.55% Li2O and 105 ppm Ta2O5 over 9,00 m, including 2.41% Li2O and 90 ppm Ta2O5 over 4.50

m in hole RD-24-08

In addition to these early intersections of lithium-rich pegmatites, the program also discover ed a different

style of mineralization associated with an aplite dyke with high grade tantalum values, including 2009 ppm

Ta2O5 over 0.70m in hole RD-24-07. A summary of the assay results received to date is presented in Table

1 and in Figures 2 to 7. Results of the last batch of assays will be released as soon as they are received

and compiled, as expected over the next few weeks.

“It is very satisfying that assay results continue to confirm the discovery at Rose West, as well as the efficacy

of our exploration model, ” observed Chief Executive Officer of the Corporation, Jean-Sébastien Lavallée.

“We look forward to launching follow up drill programs to extend Rose West, Rose Lithium-Tantalum, and

the mineralization at Lemare and Duval, not to mention applying our proven exploration model to test new

targets identified on Critical Elements’ extensive land package.” He added, “Management continues to work

diligently to deliver a financing package for the Rose Lithium-Tantalum Project that minimizes shareholder

dilution.”

Table 1: Results from Rose West Discovery 2024 winter drill program

Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval** Li2O Ta2O5 Lithology

Easting Northing (m) () () (m) (m) (m) (%) ppm

(g/t)

RD-24-01* 411119 5763973 153.00 235 -50 6.80 13.70 6.90 1.61 135 Pegmatite

including 7.70 12.00 4.30 2.17 77 Pegmatite

24.00 25.10 1.10 0.02 571 Aplite

95.10 102.80 7.70 0.03 374 Pegmatite

RD-24-02* 411104 5763903 156.00 325 -50 10.60 19.25 8.65 1.00 285 Pegmatite

including 10.60 15.00 4.40 1.34 376 Pegmatite

100.80 102.20 1.40 0.04 394 Aplite

103.70 104.20 0.50 0.04 339 Aplite

126.30 128.50 2.20 0.04 145 Pegmatite

130.25 133.25 3.00 0.03 153 Pegmatite

145.20 147.10 1.90 0.03 239 Pegmatite

RD-24-03 411105 5763898 114.00 145 -50 PENDING RESULTS

RD-24-04 411145 5763933 111.00 325 -70 16.40 20.20 3.80 1.11 163 Pegmatite

including 18.00 19.20 1.20 2.12 55 Pegmatite

67.60 72.60 5.00 0.94 256 Pegmatite

including 67.60 69.00 1.40 1.92 177 Pegmatite

RD-24-04 103.80 108.00 4.20 2.24 170 Pegmatite

RD-24-05 411188 5763963 51.00 315 -70 24.30 27.25 2.95 0.83 506 Pegmatite

including 24.30 25.65 1.35 1.41 397 Pegmatite

including 26.55 27.25 0.70 0.21 1066 Pegmatite

RD-24-06 411244 5763876 69.00 315 -70 26.60 28.70 2.10 0.14 458 Pegmatite

46.60 49.80 3.20 1.08 273 Pegmatite

including 48.00 48.80 0.80 2.41 278 Pegmatite

56.60 63.30 6.70 2.16 81 Pegmatite

Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval** Li2O Ta2O5 Lithology

Easting Northing (m) () () (m) (m) (m) (%) ppm

(g/t)

RD-24-07 411163 5763819 66.00 315 -70 3.60 4.30 0.70 0.04 2009 Aplite

17.80 30.00 12.20 1.66 180 Pegmatite

including 22.50 30.00 7.50 2.34 153 Pegmatite

50.90 52.40 1.50 0.02 423 Pegmatite

54.30 56.20 1.90 0.10 426 Pegmatite

RD-24-08 411122 5763795 57.00 315 -70 16.90 25.90 9.00 1.55 105 Pegmatite

including 19.50 24.00 4.50 2.41 90 Pegmatite

37.95 40.00 2.05 0.03 296 Pegmatite

RD-24-09 411080 5763759 60.00 315 -70 PENDING RESULTS

RD-24-10 411106 5763725 63.00 315 -70 3.55 10.50 6.95 2.21 111 Pegmatite

including 5.00 9.00 4.00 2.76 104 Pegmatite

RD-24-11 411139 5763690 66.00 315 -70 PENDING RESULTS

RD-24-12 411176 5763719 102.00 315 -70 14.45 20.00 5.55 1.75 212 Pegmatite

including 17.45 18.95 1.50 2.67 133 Pegmatite

RD-24-13 411302 5763798 97.00 290 -70 PENDING RESULTS

RD-24-14 411357 5763709 117.00 290 -70 4.75 5.50 0.75 0.05 365 Aplite

22.90 23.70 0.80 0.07 143 Aplite

36.00 40.40 4.40 0.08 87 Aplite

43.80 45.80 2.00 0.93 265 Pegmatite

55.30 57.00 1.70 1.02 294 Pegmatite

RD-24-15 411438 5763775 114.00 300 -70 54.50 57.40 2.90 0.59 60 Pegmatite

RD-24-15 96.40 99.20 2.80 2.08 221 Pegmatite

RD-24-16 411384 5763852 113.5 300 -70 PENDING RESULTS

RD-24-16A 411385 5763851 144.00 300 -70 53.70 56.70 3.00 0.01 162 Pegmatite

109.60 112.25 2.65 1.36 77 Pegmatite

118.25 143.20 24.95 1.43 178 Pegmatite

including 119.75 133.25 13.50 1.91 145 Pegmatite

including 139.25 141.60 2.35 2.22 167 Pegmatite

RD-24-17 411320 5763930 159.00 300 -70 PENDING RESULTS

RD-24-18 411269 5764015 207.00 300 -70 PENDING RESULTS

RD-24-19 411347 5764073 186.00 245 -70 PENDING RESULTS

RD-24-20 411408 5763990 177.00 245 -70 82.10 122.50 40.40 1.31 235 Pegmatite

including 82.10 104.60 22.50 1.64 219 Pegmatite

including 112.10 118.10 6.00 2.12 73 Pegmatite

141.30 144.30 3.00 0.02 339 Pegmatite

RD-24-21 411469 5763910 177.00 245 -70 120.40 144.70 24.30 1.16 145 Pegmatite

including 120.40 130.90 10.50 1.41 159 Pegmatite

including 127.90 130.90 3.00 2.27 137 Pegmatite

including 133.90 142.90 9.00 1.35 107 Pegmatite

including 133.90 136.90 3.00 2.28 183 Pegmatite

RD-24-22 411524 5763824 177.00 245 -70 128.20 159.80 31.60 1.30 142 Pegmatite

including 129.70 155.20 25.50 1.59 130 Pegmatite

RD-24-23 411605 5763887 18.00 245 -70 ***

RD-24-23A 411606 5763887 153.00 245 -70 122.60 142.90 20.30 2.22 95 Pegmatite

including 125.60 136.10 10.50 2.78 92 Pegmatite

Drillhole UTM NAD 83 ZN18 Length Azimuth Dip From To Interval** Li2O Ta2O5 Lithology

Easting Northing (m) () () (m) (m) (m) (%) ppm

(g/t)

RD-24-24 411547 5763965 147.00 235 -70 PENDING RESULTS

RD-24-25 411490 5764049 84.60 245 -70 PENDING RESULTS***

RD-24-25A 411489 5764049 168.00 245 -70 PENDING RESULTS

RD-24-26 411431 5764131 117.00 245 -70 PENDING RESULTS

RD-24-27 411519 5764187 111.00 245 -70 PENDING RESULTS

RD-24-28 411569 5764115 135.00 235 -70 PENDING RESULTS

* Results already been released on March 13th 2024.

** Core length; the true thickness is between 80 to 95% of the core length.

*** Hole abandoned before reaching target length.

Figure 1: Location map of the Rose West Discovery

Figure 2: Location map of drillholes from the winter 2024 campaign

Figure 3: Cross section N5764100 view to the North

Figure 4: Cross section N5764000 view to the North

Figure 5: Cross section N5763900 view to the North

Figure 6: Cross section N5763800 view to the North

Figure 7: Cross section N5763700 view to the North

Quality assurance/quality control

Quality assurance and quality control procedures have been implemented to ensure best practices in

sampling and analysis of the drill core samples. Standards, duplicate and blanks were regularly inserted

into the sample stream. The drill core samples were delivered, in secure tagged bags to the ALS Minerals

laboratory facility in Val-d'Or, Québec. The samples are weighed and identified prior to sample preparation.

The samples are crushed to 70% minus 2 mm, then separated and pulverized to 85% passing 75 μm. All

samples are analyzed using sodium peroxide fusion ME -MS-89L, with full analysis for 52 elements. Value

over 25,000 ppm Li were re -assays using Li -ICP-82b and value over 2,500 ppm T a2O5 were re-assays

using Ta-XRF10.

Qualified persons

Sebastien Perreault, P. Eng., is the qualified persons that have reviewed and approved the technical

contents of this news release on behalf of the Corporation.

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-Tantalum project in Québec, the Corporation’s first lithium project to be advanced within

a land portfolio of over 1,050 km 2. On August 29, 2023, the Corporation announced results of a new

Feasibility Study on Rose for the production of spodumene concentrate. The after-tax internal rate of return

for the Project is estimated at 65.7%, with an estimated after -tax net present value of US$2.2B 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 Minister of Environment and Climate Change on the

recommendation of the Joint Assessment Committee, comprised of represen tatives from the Impact

Assessment Agency of Canada and the Cree Nation Government, 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 , and the project mining lease from the Québec

Minister of Natural Resources and Forests under the Québec Mining Act.

← Back to feed