Critical Elements Lithium Intercepts 1.04% LI 2O over 33.85 Meters IN Drilling at Lemare
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PRESS RELEASE
CRITICAL ELEMENTS LITHIUM INTERCEPTS 1.04% LI 2O OVER 33.85 METERS IN
DRILLING AT LEMARE
June 20 th , 2023 - M ONTRÉAL ,Q UÉBEC – Critical Elements Lithium Corporation (TSX-V: CRE) (US OTCQX:
CRECF) (FSE: F12) (" Critical Elements " or the " Corporation ") is pleased to report results from the winter
drill program completed on the Lemare Project in th e James Bay region, Eeyou Istchee, Québec. During
winter 2023, the Corporation completed a 5,554-meter drill program, encompassing thirty-one drillholes to
test the known lithium bearing zone on the East-West extension, as well at depth. The best intercepts are
presented in Table 1 and Figure 2.
Selected drill intersection highlights include:
LE-23-32: 1.04% Li 2O and 67.91 ppm Ta 2O5 over 33.85 m, including
1.42% Li 2O and 74.24 ppm Ta 2O5 over 18.8 m
LE-23-33: 0.88% Li 2O and 113.92 ppm Ta 2O5 over 12.90 m
LE-23-35: 1.63% Li 2O and 104.30 ppm Ta 2O5 over 5.25 m
LE-23-44: 1.51% Li 2O and 54.15 ppm Ta 2O5 over 4.95 m
LE-23-48: 0.89% Li2O and 48.89 ppm Ta 2O5 over 7.10 m
LE-23-49: 0.97% Li2O and 64.43 ppm Ta 2O5 over 8.85 m, including
1.59% Li 2O and 61.34 ppm Ta 2O5 over 2.40 m.
Critical Elements controls one of the largest hard rock lithium exploration land positions in North America,
totalling 1,050 square kilometres specifically assembled for their geological setting and proximity to roads
and Québec’s 100% renewable energy grid. For exampl e, its land position includes the Corporation’s
advanced Rose lithium-tantalum project (“Rose”) and covers the extrapolated northeast and southwest
structural extensions of the Nemaska Belt, which hosts the Whabouchi mine being developed by Nemaska
Lithium.
Critical Elements has outlined its exploration plans in several news releases, most recently on February 1 ,
May 16 , and May 31 . In addition to demonstrating the value inherent in the Corporation’s exploration land
package, there are three goals:
1. Extend the life of the primary Rose project;
2. Advance the Lemare project toward an initial res ource estimate and technical studies if warranted;
and
3. Demonstrate the potential of new targets highlig hted via machine learning, or artificial intelligence.
Table 1: Lemare project – Summary of the significant lithium results from the winter drilling program
Hole #
UTM NAD 83 ZN18 Length Azimuth Dip Number From To Interval* Li 2O T a 2O5
Easting Northing (m) () () of
samples (m) (m) (m) (%) (ppm)
LE -23 -32 471182 5734263 150.00 155 -70 32 25.10 58.95 33.85 1.04 67.91
including 30.30 58.15 27.85 1.23 70.99
including 30.30 49.10 18.80 1.42 74.24
LE -23 -33 471143 5734249 150.00 160 -70 56 41.40 54.30 12.90 0.88 113.92
including 50.60 53.80 3.20 1.65 186.93
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56.10 60.15 4.05 0.18 135.91
75.70 77.20 1.50 0.56 71.43
89.95 90.45 0.50 0.43 48.60
91.95 93.20 1.25 0.21 192.32
102.05 102.55 0.50 0.14 100.86
106.00 106.70 0.70 0.14 129.44
139.10 139.60 0.50 0.11 131.88
LE -23 -34 471103 5734237 150 155 -60 64 46.00 60.15 14.15 1.12 78.80
including 48.25 52.25 4.00 1.99 63.53
68.00 69.50 1.50 0.39 727.78
69.80 70.35 0.55 1.97 4249.43
77.50 79.00 1.50 0.85 159.96
83.00 83.40 0.40 0.71 74.61
116.20 118.30 2.10 0.23 74.58
LE -23 -35 471063 5734209 150 155 -70 54 70.10 71.85 1.75 1.09 38.70
91.00 92.20 1.20 0.46 192.32
93.65 98.90 5.25 1.63 104.30
LE -23 -36 470993 5734175 253 155 -50 122 63.40 67.95 4.55 0.4 4 138.38
85.50 86.05 0.55 0.27 111.85
103.85 104.70 0.85 0.12 120.89
214.15 219.80 5.65 0.16 66.00
LE -23 -37 470972 5734101 222 155 -50 88 2.10 2.65 0.55 0.10 337.02
35.30 35.85 0.55 0.12 307.72
53.10 56.40 3.30 0.83 141.66
144.9 149.50 4.60 0.11 83.60
LE -23 -38 470923 5734095 286 155 -60 139 89.00 90.40 1.40 0.18 250.33
102.75 103.05 0.30 0.14 145.31
LE -23 -39 470937 5733931 186 155 -50 68 No significant value
LE -23 -40 470942 5733934 147 335 -50 33 81.45 81.90 0.45 0.11 119.42
LE -23 -41 471062 5734018 150 155 -50 60 No significant value
LE -23 -42 471490 5734606 300 155 -50 64 No significant value
LE -23 -43 471412 5734532 276 155 -50 110 173.95 175.20 1.25 0 .13 42.13
LE -23 -44 A 471344 5734464 18 155 -50 0 Abandoned hole
LE-23-44 471344 5734464 282 155 -50 72 113.50 136.25 22.75 0 .44 87.41
including 130.50 135.45 4.95 1.51 54.15
LE -23 -45 471344 5734464 234 155 -65 57 No significant value
LE -23 -46 471339 5734460 207 200 -50 51 No significant value
LE -23 -47 471263 5734428 201 155 -50 16 No significant value
LE -23 -48 471177 5734368 225 155 -50 47 144.80 147.00 2.20 0. 23 133.66
161.00 165.50 4.50 0.47 68.02
172.10 179.20 7.10 0.89 48.89
186.90 188.00 1.10 0.11 172.79
LE -23 -49 471129 5734342 203.2 155 -50 51 181.75 190.60 8.85 0.97 64.43
including 181.75 184.15 2.40 1.59 61.34
including 187.50 190.60 3.10 1.13 79.87
LE -23 -50 A 471085 5734320 30 155 -55 0 Abandoned hole
LE -23 -50 471085 5734320 213 155 -55 28 185.60 188.10 2.50 1.08 51.01
LE -23 -51 470558 5733806 207 155 -50 45 No significant value
LE -23 -52 470377 5733697 204 155 -50 124 No significant value
LE -23 -53 471905 5734613 168 150 -50 41 37.20 45.00 7.80 0.13 35.24
77.20 88.35 11.15 0.12 37.47
LE -23 -54 471947 5734638 165 155 -50 34 38.15 42.80 4.65 0.10 51.95
49.10 57.40 8.30 0.11 28.51
LE -23 -55 472144 5734688 171 150 -50 9 No significant value
LE -23 -56 472144 5734688 84 330 -45 47 No significant value
LE -23 -57 472200 5734777 105 155 -50 28 No significant value
LE -23 -58 472200 5734777 102 330 -45 78 No significant value
LE -23 -59 472305 5734821 135 330 -50 75 No significant value
LE -23 -60 472305 5734821 180 330 -63 123 No significant value
*Length along drill core. The Corporation does not have enough information at this stage to estimate the true width.
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Figure 1: Location of the Lemare spodumene project in the James Bay region in Québec
Figure 2: Drill results from the Lemare Property
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The winter 2023 drilling program on the Lemare spodumene project confirmed the 400-metre extension to
the southwest and the 500-metre extension to the no rtheast of the main known spodumene-bearing
pegmatite with variable width and spodumene content . At least two different types of sub-parallel
pegmatites were intersected by the drilling. The ma in spodumene-bearing pegmatite features coarse
quartz-feldspar-muscovite, while the second pegmatite is aphanitic quartzo-feldspathic, is generally l ower
grade, and is only sporadically mineralized. The ma in spodumene-bearing pegmatite is controlled by a
northeast-southwest structure that is recut by at l east two north-south oriented faults. The informati on
collected during the winter drilling program will b e useful to better define the 3D model and better
understand the pinch-and-swell character of the peg matites at Lemare. The confirmed spodumene-
prospective pegmatite strike length at Lemare now e xceeds 2.2 kilometres. However, based on Goldspot
Discoveries’ machine learning methodology and surface sampling results, the LCT pegmatite trend on the
Lemare property has been estimated to extend for over 5 kilometres.
Critical Elements intends to pursue further work on Lemare over the summer with surface mapping and a
sampling program followed by incremental drilling. Lemare is well-situated within 3 kilometres of road
access and is an excellent candidate for initial te chnical studies. At the moment, the Corporation has
temporarily suspended exploration activities on the Nemaska Belt projects in the Eeyou Istchee-James Bay
region of Québec in accordance with a directive fro m the Ministère des Ressources Naturelles et des
Forêts, which has banned forest access on Crown land and closed roads to help combat forest fires across
the province.
Quality assurance/quality control
Quality assurance and quality control procedures ha ve been implemented to ensure best practices in
sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for
assay and the other retained in the core box as a w itness sample. Duplicates, standards and blanks
wereregularly inserted into the sample stream. The core samples were delivered, in secure tagged bags,
directly to the ALS Minerals laboratory facility in Val-d'Or, Quebec. 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 usi ng 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 Ta 2O5 were re-assays using Ta-XRF10.
Qualified persons
Paul Bonneville, 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, hi gh
purity Rose lithium project in Québec, the Corporat ion’s first lithium project to be advanced within a land
portfolio of over 1,050 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, low-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.
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For further information, please contact:
Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
www.cecorp.ca
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 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 information contained herein include, without limitation, statements
relating to the results and completion of the 2023 exploration program, the permitting process, the results and outcome
of the Front-End Engineering Design Study, eligibility of equipment required for the Rose Project to the 30% investment
tax credit (ITC) announced by the Federal government in its last budget, as well as the outcome of the formal process
launched by the Corporation in connection with the Project financing. Forward-looking information is b ased on
assumptions management believes to be reasonable 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. Accordingly, readers should not place undue reliance on forward-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, but are not limited to: final and complete results of the Corporation’s
2023 exploration program, the final outcome of the permitting process and the Corporation’s ability to meet all conditions
imposed thereunder, the final results of the Front-End Engineering Design Study and its effects on the development of
the Rose Project, the formal process launched in connection with the Project financing not producing the anticipated
and expected results, the criteria for eligibility to the 30% investment tax credit (ITC) announced in the last federal
budget not being those expected, as well as those r isk factors set out in the Corporation’s Management Discussion
and Analysis for its most recent quarter ended February 28, 2023 and other disclosure 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 Elements 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