Critical Elements Lithium Orders First Long Lead Equipment FOR the Rose Lithium-Tantalum Project
1
PRESS RELEASE
CRITICAL ELEMENTS LITHIUM ORDERS FIRST LONG LEAD EQUIPMENT FOR
THE ROSE LITHIUM-TANTALUM PROJECT
October 12th, 2023 - 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 ordered the equipment with the longest lead time to manufacture, namely transformers (315 kV to
25kV) for the main power station of the Rose Lithium-Tantalum project (the " Project"). The order was
concluded with one of the leaders in the design and construction of industrial transformers, the Italian
company Tamini Trasformatori Srl.
In order to meet the electrical energy needs of the Project, the Corporation will install two electrical
transformers with a ventilation stage during the construction period. The two transformers will operate
simultaneously to supply the site and the operating proces sing plant. A single transformer will be able to
support all loads in the event of failure of one of the two transformers.
In addition, in order to reduce greenhouse gases and reduce the use of diesel generators, the sub-station
will be able to support electrical energy at the end of the construction period with only one transformer.
Jean-Sébastien Lavallée, Chief Executive Officer of the Corporatio n, stated: " Today's news represents
another action to reduce the risks associated with the Project schedule. This is another step towards the
development of the Rose Lithium-Tantalum Project. With every step completed, management’s confidence
increases in achieving the Corporation’s goal to make a final investment decision, commence construction,
and achieve initial production in 2026."
Critical Elements’ Rose Lithium-Tantalum project is one of the most advanced hard rock lithium projects in
North America, having achieved key milestones including:
• The Pikhuutaau Agreement, an impact and benefits agreement for the development and operation
of the Rose Lithium-Tantalum project, signed with the Cree Nation of Eastmain, the Grand Council
of the Crees (Eeyou Istchee) and the Cree Nation Government in July 2019;
• A favorable decision statement from the federal Minister of the Environment and Climate Change,
issued in August 2021 follo wing the thorough environmental assessment conducted by the Joint
Assessment Committee, comprised of representatives from the Impact Assessment Agency of
Canada and the Cree Nation Government;
• The approval by the Québec Minister of Natural Resources and Fo rests of the rehabilitation and
restoration plan concerning the Rose Lithium-Tantalum project, in May 2022;
• The receipt of the Certificate of Authorization under Section 164 of Québec’s Environment Quality
Act, in November 2022, following the environmental and social impact assessment and review
procedure under the responsibility of the Environmental and Social Impact Review Committee
(COMEX);
• The receipt of the Rose Lithium-Tantalum project mining lease in September 2023 from the Québec
Minister of Natural Resources and Forests. The mining lease is granted under the Québec Mining
Act and gives the holder the right to mine mineral substances for the Rose Lithium-Tantalum
project. The mining lease is granted for a period of 20 years.
2
Qualified person
Yves Perron, Eng. MBA, Vice -President Engineering, Construction and Operations for the Corporation is
the qualified person who has 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, 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 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
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, even ts or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. Forward -looking information contained herein include, without limitation, statements
relating to mineral reserve estimates, mineral resource estimates, realization of mineral reserve and resource
estimates, capital and operating costs estimates, the timing and amount of future production, costs of production,
success of mining operations, the ranking of the project in terms of cash cost and production, permitting, e conomic
return estimates, power and storage facilities, life of mine, social, community and environmental impacts, lithium and
tantalum markets and sales prices, off-take agreements and purchasers for the Corporation’s products, environmental
assessment and permitting, securing sufficient financing on acceptable terms, opportunities for short and long term
optimization of the Project, and continued positive discussions and relationships with local communities and
stakeholders. Forward-looking information is based on assumptions management believes to be reasonable at the time
such statements are made.
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 may cause actual results to differ materially from expected results
described in forward -looking information include, but are not limited to: Critical Elements’ ability to secure sufficient
financing to advance and complete the Project, uncertainties associated with the Corporation’s resource and reserve
estimates, uncertainties regarding global supply and demand for lithium and tan talum and market and sales prices,
3
inflation and its impact on the Project’s capital and operating costs estimates, uncertainties associated with securing
off-take agreements and customer contracts, uncertainties with respect to social, community and envir onmental
impacts, uncertainties with respect to optimization opportunities for the Project, as well as those risk factors set out in
the Corporation’s year-end Management Discussion and Analysis for its most recent quarter ended May 31, 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 Although the Corporation has
attempted to identify important factors that could cause actual result s 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. There can be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated
or intended. Accordingly, readers should not place undue reliance on forward -looking statements or information. The
Company 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.