Critical Elements Provides an Update ON the Rose Project :D Raft Environmental Assessment Report Published BY the Joint Assessment Committee
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PRESS RELEASE
CRITICAL ELEMENTS PROVIDES AN UPDATE ON THE ROSE PROJECT :D RAFT
ENVIRONMENTAL ASSESSMENT REPORT PUBLISHED BY THE JOINT ASSESSMENT
COMMITTEE
March 18 st , 2021 - M ONTRÉAL , QUÉBEC – Critical Elements Lithium Corporation (TSX-V: CRE) (US OTCQX:
CRECF) (FSE: F12) (" Critical Elements " or the " Company ") is pleased to announce that the Joint
Assessment Committee established by the Impact Asse ssment Agency of Canada and the Cree Nation
Government (the “ Committee ”) has published its draft report following the env ironmental impact
assessment on the Rose Lithium Tantalum Project (“ Rose ” or the “ Project ”) in which the Committee
concludes that the Project is not likely to cause s ignificant adverse environmental effects, consideri ng the
implementation of key mitigation measures. The Committee has also published the potential conditions with
which the proponent must comply.
The publication of the provisory conclusions of the environmental impact assessment draft report bring s
the Company one step closer to obtaining the final authorization for the Project. In the meantime, the
provincial authorization process is also underway as provided in its press release dated March 8, 2021 .
Jean-Sébastien Lavallée, Critical Elements’ Chief Executive Officer, noted that: “We are extremely pleased
by the conclusions of the Committee’s draft report conclusions, especially because these findings refl ect
our continued work with key stakeholders to ensure that the Project respects the principles of sustain able
development and is also beneficial for local commun ities. This is an important moment for us and we ar e
looking forward to continue engaging with stakeholders throughout the Project”.
The Committee is now inviting the public to comment on the draft environmental assessment report and
the potential environmental assessment conditions for the Project until April 16, 2021 ( see the Committee’s
press release of March 17, 2021 ). This constitutes the last step before the public ation of the Committee’s
final report, which could then lead to the grant of a federal authorization regarding the Project.
About Critical Elements Lithium Corporation
Critical Elements Lithium Corporation aspires to be come a large, responsible supplier of lithium to th e
flourishing electric vehicle and energy storage sys tem industries. To this end, Critical Elements Lith ium is
advancing the wholly owned, high purity Rose lithium project in Quebec. Rose is our first lithium proj ect to
be advanced within a highly prospective land portfo lio of over 700 square kilometers. In 2017, the
Corporation completed a robust feasibility study on Rose Phase 1 for the production of high quality
spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, wi th a
net present value estimated at C$726 million at an 8% discount rate. Capital and operating cost parameters
were confirmed in 2019 by Primero Group in the cont ext of a Guaranteed Maximum Price under an Early
Contractor Involvement agreement, as a prelude to a n Engineering, Procurement and Construction
process. Detailed engineering for Phase I is expect ed to conclude this year as we also deliver technic al
studies for Phase II, the conversion of spodumene concentrate to high quality lithium hydroxide. In our view,
Quebec is strategically well-positioned for US and EU markets and boasts exceptional infrastructure
including a low-cost, low-carbon power grid featuri ng 93% hydroelectricity. We have a strong, formaliz ed
relationship with the Cree Nation.
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For further information, please contact:
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.