Critical Elements Lithium Has Received the Land Use Lease FOR Its Worker CAMP
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PRESS RELEASE
CRITICAL ELEMENTS LITHIUM HAS RECEIVED THE LAND USE LEASE FOR ITS WORKER CAMP
October 16th, 2024 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Corporation (TSX -V: CRE) (US
OTCQX: CRECF) (FSE: F12) ( "Critical Elements" or the "Corporation") is pleased to announce that it
has been granted the Industrial occupancy lease for its worker camp, which is essential for the development
of its unique Rose Lithium-Tantalum project (the " Rose Project " or the “ Project”) in Eeyou Istchee,
Quebec. This lease is granted by the Ministère des Ressources naturelles et des Forêts (the "Ministère")
under the Act respecting lands in the domain of the State (Québec) for a period of one year starting October
1st, 2025 and automatically renewed every year. Renewal is subject to the respective terms and conditions
of the working camp lease (recently granted), and the storage and mining infrastructure and tailing
management facility leases (previously granted).
With the obtaining of the mining lease in September 2023 ( see press release dated September 18, 2023)
the granting of the storage and mining infrastructure and tailing management facility leases ( see press
release dated February 20th, 2024) and the newly granted worker camp lease, Critical Elements continues
to move toward the realization of the Rose Project by securing the occupancy rights necessary for the
activities inherent to a future mining operation, which remains subject to the conclusion of a strategic
partnership and project financing leading to a final investment decision. Critical Elements thus crystallizes
its presence in the region and at the same time ensures that it has the necessary occupancy rights for the
development of the Project.
Critical Elements’ management and board of directors continue work in preparation for the completion of a
financing package for the Project that allows for a final investment decision while maintaining an attractive
capital structure and mitigating risk. Critical Elements i s working to arrange a comprehensive financing
package to fully fund the development of Rose. Shareholders will be updated as the financing package
progresses and timelines will be updated as the project financing package is assembled.
We would also like to congratulate Power Nickel Inc. (“Power Nickel”) on the exploration success on the
Nisk property. Power Nickel has earned an 80% interest in the Nisk property and Critical Elements retains
a 20% interest in the property, which is carried until such time as a definitive Feasibility Study regarding
extraction and production activities on the Property is delivered to the Joint Venture. Critical Elements also
holds approximately 13 million shares of Power Nickel.
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,
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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.
For further information, please contact:
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 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 expected”, “scheduled”,
“targeted”, or “believes”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “cou ld”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward -looking
information contained herein include, without limitation, statements relating to expectations regarding Rose
project-level activities including (i) completion of the permitting process, (ii) securing a strategic partnership
and project financing leading to a Final Investment Decision and (iii) respecting the Rose project ramp up
and commissioning timeline, expectations regarding potential value creation from ongoing and futu re
exploration activities on the Corporation’s projects, and the Corporation’s ongoing business plan. Such
forward-looking information and statements are based on numerous assumptions, including that general
business and economic conditions will not change in a material adverse manner, that fundamentals of
lithium / spodumene demand and EV market growth and capacity will continue to be strong, that project
financing will be available on reasonable terms, and that governmental and other approvals required to
conduct the Company’s development activities and planned exploration will be available on reasonable
terms and in a timely manner. Although the assumptions made by the Corporation in providing forward -
looking information or making forward -looking statements are considered reasonable by management at
the time, there can be no assurance that such assumptions will prove to be accurate.
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, estimat ed or intended. Factors that may cause actual results to differ
materially from expected results described in forward -looking information include, but are not limited to:
negative operating cash flow and dependence on third party financing, uncertainty of additional financing,
reliance on key management and other personnel, potential downturns in (i) general economic conditions,
(ii) demand for lithium / spodumene and (iii) EV market growth, capacity and demand, actual results of
exploration activities being different than anticipated, changes in exploration programs based upon results,
risks generally associated with the mineral exploration industry, environmental risks, changes in laws and
regulations, community relations and delays in obtaining governmental or other approvals, as well as those
risk factors set out in the Corporation’s Management Discussion and Analysis for its most recent quarter
ended May 31, 2024 and other disclosure documents available under the Corporation’s SEDAR+ profile
(www.sedarplus.ca).
Forward-looking information contained herein is made as of the date of this news release. Although the
Corporation has attempted to identify important factors that could cause actual results to differ materially
from those contained in the forward -looking information or implied by forward -looking information, there
may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers
should not place undue reliance on forward -looking statements or information. The Com pany undertakes
no obligation to update or reissue forward -looking information as a result of new information or events
except as required by applicable securities laws.