Critical Elements Lithium Corporation Signs Impact and Benefit Agreement with the Cree Nation of Eastmain , the Grand Council of the Crees (E Eyou Istchee ) and the Cree Nation Government :a ROAD Map FOR a Mutually Beneficial Development of the Rose Lithium -T Antalum Project
PRESS RELEASE
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
CRITICAL ELEMENTS LITHIUM CORPORATION SIGNS IMPACT AND BENEFIT AGREEMENT
WITH THE CREE NATION OF EASTMAIN , THE GRAND COUNCIL OF THE CREES (E EYOU
ISTCHEE ) AND THE CREE NATION GOVERNMENT :A ROAD MAP FOR A MUTUALLY
BENEFICIAL DEVELOPMENT OF THE ROSE LITHIUM -T ANTALUM PROJECT
JULY 8, 2019 – EASTMAIN , QUÉBEC – Critical Elements Lithium Corporation (the “ Corporation ” or
“Critical Elements ”) (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) is pleased to announce that
the Cree Nation of Eastmain, the Grand Council of t he Crees (Eeyou Istchee), the Cree Nation
Government and the Corporation have signed an impact and benefit agreement, referred to as the
Pikhuutaau Agreement (the " Pikhuutaau Agreement "), concerning the development and
operation of the Rose Lithium-Tantalum Project (“ Rose Lithium-Tantalum Project ” or the
“Project ”) in Eeyou Istchee.
The Pikhuutaau Agreement is a binding agreement tha t will govern the long-term working
relationship between the parties while respecting C ree traditional activities and ensuring the
promotion of Cree economic and social development based on mutual trust and respect during all
phases of the Project through a sustainable develop ment approach. It provides for training,
employment and business opportunities for the Crees and particularly the Crees of Eastmain at the
Project, as well as for the cooperation and involve ment of the Cree parties with Critical Elements
in the environmental monitoring during all phases o f the Project. The Pikhuutaau Agreement also
ensures financial benefits for the Cree parties on a long term basis, consistent with the Cree Nation
Mining Policy and with Critical Elements’ approach to develop the Project while ensuring the
promotion of Cree economic and social development in a mutually beneficial manner.
“We are very proud of this agreement, which is the first impact and benefit agreement signed with
the Cree Nation of Eastmain regarding a mining project, and we are grateful to all members of the
Cree Nation of Eastmain and the Cree Nation as a wh ole for their support towards the further
development of the Rose-Lithium-Tantalum Project. I t has always been a high priority of the
Corporation to collaborate with local communities and the Pikhuutaau Agreement provides a road
map for all parties to make this project a mutually beneficial success”, stated Jean-Sébastien
Lavallée, CEO of Critical Elements.
“The Pikhuutaau Agreement embodies the partnership that the Crees have forged with Critical
Elements. This partnership will endure because it was built on trust and respect. It is another vibrant
example of how the Crees can strike the right balance between protection of our traditional way of
life and environment and our growing need to participate in the modern economy. The Pikhuutaau
Agreement will further allow for the active participation of the Cree in the economic development of
Eeyou Istchee”, stated Grand Chief Dr Abel Bosum of the Grand Council of the Crees (Eeyou
Istchee) and of the Cree Nation Government.
“The signing of the Pihkuutaau Agreement marks the beginning of an important partnership that
will allow for the development of the community thr ough joint effort and cooperation. This
Agreement constitutes an important step forward by ensuring us, the Cree Nation of Eastmain, to
have an active voice in the decision-making process . Future generations will continue to benefit
from this Agreement as well as from the employment and business opportunities it will bring”, stated
Chief Kenneth Cheezo of the Cree Nation of Eastmain.
Critical Elements, the Cree Nation of Eastmain, the Grand Council of the Crees (Eeyou Istchee)
and the Cree Nation Government are planning to hold an official signing ceremony in the Cree
community of Eastmain to celebrate this significant milestone in the fostering of their long-term
relationship. Details about this ceremony will be communicated at a later date.
Jean-Sébastien Lavallée (OGQ #773), geologist, shar eholder and Chairman and Chief Executive
Officer of the Corporation and a Qualified Person under NI 43-101, has reviewed and approved the
technical content of this release.
ABOUT CRITICAL ELEMENTS LITHIUM CORPORATION
The Company recently released a financial analysis for Critical Elements’ wholly-owned Rose
Lithium Tantalum project (Rose Lithium-Tantalum pro ject feasibility study, WSP, November 29,
2017), which is based on price forecasts of US $750/tonne for chemical-grade lithium concentrate
(5% Li2O), US $1,500/tonne for technical-grade lithium concentrate (6% Li2O) 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
Investor Relations:
Paradox Public Relations
514-341-0408
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accepts responsibility for the adequacy or accuracy of this release.