Critical Elements Lithium Identifies New LCT Pegmatite Targets and Announces a Surface Exploration Program in the Nemaska Belt Portfolio
1
PRESS RELEASE
Critical Elements Lithium Identifies New LCT Pegmatite Targets and Announces a
Surface Exploration Program in the Nemaska Belt Portfolio
May 31 st, 2023 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Cor poration (TSX-V: CRE) (US
OTCQX: CRECF) (FSE: F12) ( "Critical Elements" or the "Company" ) is pleased to report the
identification of new lithium-cesium-tantalum pegma tite (“LCT pegmatite ”) trends following advanced
geochemical interpretations made by ALS GoldSpot Discoveries Ltd. (“ALS GoldSpot”), and announces a
surface exploration program at Duval, Lemare, Valiquette, Arques, Caumont, Dumoulon, New Block 1 to 6,
Rose and Rose Nord properties.
Critical Elements has actively explored its Nemaska belt properties (Figure 1) since 2021, which led to the
discovery in 2022 of new multi-kilometre-long LCT pegmatite prospective trends on the Company’s 100%
owned Lemare and Duval properties ( see press release dated October 27, 2022 ). Following the 2022 field
program, the Company mandated ALS GoldSpot to conduct a geochemical interpretation of the Company’s
multi-element rock sample data, along with legacy geochemical data, for exploration vectoring.
Figure 1 – Nemaska Belt Property Portfolio Location Map.
2
Geochemical Vectoring
A total of 3,900 surface rock samples were collecte d in 2021 and 2022, and then prepared by four-acid
digestion and analyzed by ICP-MS61 for 47 elements at ALS Laboratory in Val d’Or. Geochemical vectoring
effectively isolated fertile pegmatite suites from unprospective rock samples.
ALS GoldSpot applied a signal enhancement and denoi sing technique coupled with a density-based
clustering method on selective immobile elements – lithium, cesium, tantalum elements were not include d
- to characterize geochemical populations. This approach isolated a unique geochemical signal associated
with mineralized LCT pegmatite without considering lithium, cesium or tantalum as input elements, and
resulted in the identification of 162 pegmatite samples.
The distribution of fertile LCT pegmatite environme nts is consistent with interpreted major SW-NE
structures that span the Company’s Nemaska belt properties (Figure 2). The geochemical approach offers
a new outlook on the multi-elements geochemical database to orient early lithium exploration.
Figure 2 – Geochemical Vectoring of LCT pegmatite at the Nemaska belt property portfolio.
2023 Surface Exploration Program
The Company announces a surface exploration program focussed on prospecting the identified fertile
pegmatite environments. Starting early June, the 12 -week program will consist of prospecting, mapping
and trenching. The Company has mandated ALS GoldSpo t to manage the 2023 exploration program, in
collaboration with the Company’s teams. Following the surface exploration program, the results will inform
a drill program designed to confirm in three dimensions the discovery of new spodumene-bearing pegmatite
bodies.
3
Qualified persons
Ludovic Bigot, P. Geo., Senior Project Manager at A LS GoldSpot Discoveries ltd., and Qualified Person
under NI 43-101 on standards of disclosure for mineral projects, has prepared and reviewed the content of
this press release.
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, hi gh
purity Rose lithium project in Québec, the Corporat ion’s first lithium project to be advanced within a land
portfolio of over 1,000 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, lo w-carbon power grid featuring 94% 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
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. Geo.
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 i nformation contained herein include, without limita tion, statements
relating to the completion of the 2023 exploration program and its related objectives. Forward-looking information is
based on assumptions management believes to be reas onable at the time such statements are made. There can be
no assurance that such statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordin gly, readers should not place undue reliance on for ward-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, b ut are not limited to: results of the Corporation’s 2023 exploration
program and effects on the Corporation’s stated obj ectives, as well as those risk factors set out in t he Corporation’s
Management Discussion and Analysis for its most rec ent quarter ended February 28, 2023 and other discl osure
documents available under the Corporation’s SEDAR profile. Forward-looking information contained herein is made as
of the date of this news release and Critical Eleme nts 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.