Critical Elements Lithium confirms ongoing interest, progress in Rose Project

Critical Elements Lithium is pleased with the progress being made to advance the unique Rose Lithium-Tantalum Project in Eeyou Istchee, Quebec and, ultimately, achieve its vision to become a large-scale, sustainable, and reliable vertically integrated supplier of lithium for the emerging electric vehicle and energy storage industries. The Rose Lithium-Tantalum project is situated within the Rose and Rose South property blocks, which constitute 395 km2, or only 38% of the Corporation’s highly prospective 1,050 km2 exploration portfolio in Quebec. During the summer of 2023, Critical Elements conducted a prospecting program over several areas, including the Rose, Rose South, Rose North and Nemaska belt properties. The objective of the field program was to identify new pegmatite bodies using systematic rock geochemical sampling of all pegmatite bodies in order to refine the geological interpretation of the properties and prioritize further exploration work including drilling. A total of 774 rock samples were collected during the exploration campaign with 95 samples reporting values over 100 ppm Ta2O5 and/or values over 0.10% Li2O. As reported on September 12th, 2023 and in October 17th, 2023, the press releases state several new outcrop discoveries have been identified in the Rose pegmatite swarm. To date, 4 spodumene-bearing pegmatite outcrops have been identified in this New Discovery Area. At this early stage, the exact strike length, width and orientations of these dykes is unknown, but the apparent strike length along the outcrops exceeds 400m. All results from the summer program have now been received with selected results over 3% Li2O including 3.18% Li2O, 3.00% Li2O, 3.98% Li2O, 3.91% Li2O, and 5.10% Li2O. Critical Elements is pleased to provide investors with an update on the ongoing assessment of expressions of interest for financing and developing the Rose Project in collaboration with potential strategic partners. Despite expectations for a conclusion earlier this year, the Corporation recognizes the intricacy of these negotiations and due diligence, requiring time and thorough consideration. Investors can be assured of a continued interest from potential partners, and that the Corporation believes that the process is progressing positively. Management is committed to securing an optimal outcome for the Rose Project’s financing and development.