Critical Elements Lithium samples up to 2.22% Li2O at Duval and 2.44% Li2O in the southwestern extension of Lemare
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PRESS RELEASE
Critical Elements Lithium samples up to 2.22% Li2O at Duval and 2.44% Li2O in
the southwestern extension of Lemare
September 5th, 2023 - MONTRÉAL, QUÉBEC – Critical Elements Lithium Corporation (TSX-V: CRE) (US
OTCQX: CRECF) (FSE: F12) ( "Critical Elements" or the "Corporation") is pleased to report the results
of exploration of multiple lithium-tantalum pegmatite (“LCT pegmatite ”) trends with positive prospecting
sampling results on the Duval (Table 1) and Lemare (Table 2) sites.
Progression of the wholly owned Rose lithium-tantalum deposit toward a final investment decision is Critical
Elements’ primary goal. Rose is one of the most advanced hardrock lithium development projects in North
America (see updated feasibility study results in the news release dated August 29, 2023), with key
environmental permits and crucial Impact and Benefits Agreement in place. However, the Corporation also
owns over 1,050 square kilometres of concessions that are highly prospective in the Eeyou Istchee region
of Québec and management intends to catalyze the value inherent in this asset. To this end, Critical
Elements launched a surface exploration program as announced in the news release dated May 31, 2023.
During June 2023, Critical Elements conducted a prospect ing program over several area s of the
Corporation’s Nemaska belt property portfolio using ground -based and helicopter -borne teams of
geologists. The program was interrupted for several weeks due to the unprecedented wildfire situation in
the region. The Corporation is deeply concerned by the damage caused to the environment, as well as the
negative impact on the people of Eeyou Istchee. Our teams have now returned to the field to continue with
the planned program. The program’s objective is to identify new pegmatite bodies using systematic rock
geochemical sampling of ranked LCT -pegmatite targets as defined by ALS Goldspot “SmartTarget”
methodology, which combines both expert-driven and machine-learning data-driven targeting approaches
to refine the geological interpretation of the properties for further exploration work.
A total of 108 rock samples were collected during the short exploration campaign of June 2023. Prospecting
confirms the discovery of the new two-kilometre-long trend of white pegmatite on the Corporation’s 100%
owned Duval property that hosts several lithium, cesium, and tantalum anomalies. Individual results include
2.22% Li 2O, 1.54% Li 2O and 0.54% Li 2O in an angular pegmatite boulder field that may have been
transported one kilometre from the main discovery outcrops during glaciation (Table 1 and Figure 1). These
mineralized pegmatites are spatially associated with mafic volcanics along an interpreted regional-scale
shear zone that borders the Nemiscau Belt, in a similar geological setting that extends to the Whabouchi
lithium deposit, three kilometres off the claims to the northeast (Figure 3). These results begin to show the
potential of the Corporation’s Nemaska trend properties.
In addition, the Corporation has received sample r esults confirming the summer 2022 discovery of the
extension of the LCT pegmatite trend on the Lemare property marked by a sample grading 0.38% Li2O.
Recent high-grade results include up to 2.44% Li2O and 1.60% Li2O (Table 2 and Figure 2 ) in in situ
pegmatite outcrop. This highlights the potential for future drilling to extend the LCT pegmatite trend to over
5 kilometres on the Lemare property.
The reader is cautioned that grab samples are selective by nature and may not represent average grades
of the mineralization in the pegmatites.
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Table 1: Selected Duval Sample results
Property Sample UTM NAD 83 ZN18 Li2O T a2O5 Cs
number Easting Northing (%) (ppm) (ppm)
Duval H874004 437589 5722597 2.22 70 42
Duval H874005 437605 5722603 1.54 67 12
Duval H874006 437645 5722627 0.54 43 14
Note: Grab samples are selective by nature and may not to represent average grades of the pegmatite.
All samples are angular boulder.
Figure 1: Duval Project Sample Location Map
*2.08% Li2O, 2.22% Li2O 1.54% Li2O, 0.54% Li2O (Table 1) in an angular pegmatite boulder field.
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Table 2: Lemare best results
Property Sample UTM NAD 83 ZN18 Li2O T a2O5 Cs
number Easting Northing (%) (g/t) (ppm)
Lemare H873901 466653 5731271 2.44 57 117
Lemare H873902 466654 5731272 1.60 32 72
(Grab samples are selective by nature and are unlikely to represent average grades of the deposits).
Figure 2: Lemare Project Sample Location Map
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Figure 3: Nemaska Belt Portfolio Sample Location Map with Sample Highlights
*2.08% Li2O, 2.22% Li2O 1.54% Li2O, 0.54% Li2O (Table 1) in an angular pegmatite boulder field.
The surface exploration program with five crews continues to ground-truth several LCT-pegmatite targets.
Results will be released in context as the program progresses. Management is currently engaged in
designing a significant fall and winter drill program with multiple rigs to drill-test new targets including the
Duval discovery, advance the Lemare deposit, and expand the Rose project resource inventory including
protential proximal satellite mineralization. Details of this extensive program will be forthcoming near-term.
Quality assurance/quality control
Quality assurance and quality cont rol procedures have 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 witness sample. Duplicates, stand ards and blanks were
regularly 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 using 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 Ta2O5
were re-assays using Ta-XRF10.
The Corporation has resumed its mineral exploration and development programs as of early August 2023,
as the wildfires in the region gradually abate. This includes surface exploration program over the Rose,
Rose North and South and Nemaska Belt properties with five crew support by helicopter. Additionally, the
corporation is conducting environmental baseline fieldwork, lidar survey and geotechnical work on Rose
site to support the advancement of the details engineering work.
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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, high-
purity Rose lithium project in Québec, the Corporation’s first lithium project to be advanced withi n 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 receiv ed 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 and also received the C ertificate 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. 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”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. Forwa rd-looking information contained herein include, without limitation, statements
relating to the results and completion of the 202 3 exploration program (including the potential of the Corporation’s
Nemaska trend properties ) and its related objectives. Forwa rd-looking information is based 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 may cause actual results to differ materially from expected results
described in forward-looking information include, but are not limited to: final and complete results of the Corporation’s
2023 exploration program and effects on the Corporation’s stated objectives, as well as those risk factors set out in the
Corporation’s Management Discussion and An alysis for its most recent quarter ended May 31, 202 3 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.