Critical Elements Lithium Obtains Transport Canada Dewatering Exemption Necessary FOR the Development of the Rose Lithium-Tantalum Project
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PRESS RELEASE
CRITICAL ELEMENTS LITHIUM OBTAINS TRANSPORT CANADA DEWATERING EXEMPTION
NECESSARY FOR THE DEVELOPMENT OF THE ROSE LITHIUM-TANTALUM PROJECT
October 30th, 2023 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Corporation (TSX -V: CRE) (US
OTCQX: CRECF) (FSE: F12) (“Critical Elements” or the “Corporation”) is pleased to announce having
obtained an order from the Minister of Transport of Canada (the “Order”) exempting the Corporation from
the prohibition to dewater navigable waters under the Canadian Navigable Waters Act (“CNWA”) impacting
28 navigable waters located either on top of or around the perimeter of the future open pit mine site for the
Rose Lithium-Tantalum project.
Indeed, Subsection 23(1) of the CNWA prohibits taking any action, such as dewatering, that lowers the
water level of a navigable water or any part of a navigable water to a level that extinguishes navigation for
vessels, unless the Minister of Transport receives an application for an exemption and the Governor in
Council is satisfied that it would be in the public interest to permit the dewatering that extinguishes
navigation. Following a detailed review and analysis of the Corporation’s request, Transport Canada
concluded that it would be in the public interest to permit the dewatering, thereby reducing water levels in
the 28 navigable waters and making navigation impracticable. As a result, an exemption was granted to the
Corporation pursuant to subsection 24(1) of the CNWA.
As mentioned in the Order, despite the dewatering, mitigation measures relevant to navigation have been
implemented to assist in safeguarding Indigenous trapping rights, such as relocation of a camp used for
trapping and a beaver management plan. Furthermore, navigation is not the ma in means of transportation
to access the territory. Access to the territory can and is being achieved by additional methods such as
snowmobiles, all-terrain vehicles and/or snowshoes/foot. Second, the anticipated creation of 580 jobs from
the mining project in an area with a population of only 760 people is expected to be a significant benefit to
the local economy. Finally, the Order mentions that the mining project itself would help facilitate obtaining
the raw materials needed in the manufacture of the essential parts of zero -emission vehicles ( “ZEV”),
thereby contributing to ZEV availability to improve air quality.
Jean-Sébastien Lavallée, Corporation’s CEO commented: “This is a step further towards the development
of the Rose Lithium-Tantalum Project which allows us to continue planning for the work coming ahead. I
am confident that the mitigation measures we have elaborated and which have been accepted will allow us
to minimize the impact of our activities on the environ ment and on local communities and particularly the
Cree Nation of Eastmain.”
More details on the Order and location of the 28 navigable waters subject to the exemption can be found
in the Canada Gazette available online at https://www.gazette.gc.ca/rp-pr/p2/2023/2023-10-25/html/sor-
dors213-eng.html.
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
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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, co mprised of representatives 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.
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
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.