Progress of the Rose Project - New Government Authorizations Obtained
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PRESS RELEASE
PROGRESS OF THE ROSE PROJECT - NEW GOVERNMENT AUTHORIZATIONS OBTAINED
February 20th, 2024 - 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 been granted three industrial occupancy leases (storage and mining infrastructure) and tailings
management facility leases, which are essential for the deployment of its unique Rose Lithium-Tantalum
project (the "Rose Project" or the “Project”) in Eeyou Istchee, Quebec. These leases are granted by the
Ministère des Ressources naturelles et des Forêts (the "Ministère") under the Act respecting lands in the
domain of the State (Québec) for a period of one year starting February 1st, 2024 and automatically renewed
every year, subject to the respective terms and conditions of the leases granted.
With the obtaining of the mining lease in September 2023 ( see press release dated September 18, 2023)
and the granting of these three leases, Critical Elements continues to move forward with the realization of
the Rose Project by securing the occupancy rights necessary for the activities inherent to a future mining
operation, which remains subject to the conclusion of a strategic partnership and project financing leading
to a final investment decision. Critical Elements thus crystallizes its presence in the region and at the same
time ensures that it has the necessary occupancy rights for the deployment of the Project.
Jean-Sébastien Lavallée, Chief Executive Officer of the Corporation, stated: "We are grateful to the
Ministère for their continued support as we move the Rose Project towards a final investment decision .
Despite the current negative sentiment around lithium equities, management remains confident in the
quality of the Rose P roject, the investment appeal o f Québec as it develops its battery supply chain
ecosystem for the future , and the future global growth of quality lithium demand. Our highly experienced
lithium industry management team is well-positioned to pivot to meet the challenges of today’s market and
we are excited for the future 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 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, 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.
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For further information, please contact:
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 expectations regarding Rose project - including (i) completion of the permitting process and (ii) securing a
strategic partnership and project financing leading to a Final Investment Decision . Such forward-looking information
and statements are based on numerous assumptions, including that general business and economic conditions will not
change in a material adverse manner, that fundamentals of lithium / spodumene de mand and EV market growth and
capacity will continue to be strong, that project financing will be available on reasonable terms, and that governmental
and other approvals required to conduct the Corporation’s development activities and planned exploration will be
available on reasonable terms and in a timely manner.
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: negative operating cash flow and dependence
on third party financing, uncertainty of additional financing, reliance on key management and other personnel, potential
downturns in (i) general economic conditions, (ii) demand for lithium / spodumene and (iii) EV market growth, capacity
and demand, actual results of exploration activities bein g different than anticipated, changes in exploration programs
based upon results, risks generally associated with the mineral exploration industry, environmental risks, changes in
laws and regulations, community relations and delays in obtaining government al or other approvals, as well as those
risk factors set out in the Corporation’s Management Discussion and Analysis for its most recent quarter ended
November 30, 2023 and other disclosure documents available under the Corporation’s SEDAR + profile
(www.sedarplus.ca).
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 results 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. Accordingly, readers should not place undue reliance on forward -
looking statements or information. The Co rporation 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.