Critical Elements Lithium Confirms Major Discovery at Rose West with Multiple Wide Lithium-Rich Intercepts

Highlights

• 1.31% Li₂O and 235 ppm Ta₂O₅ over 40.40 m, including 1.64% Li₂O and 219 ppm Ta₂O₅ over 22.50 m in hole RD-24-20
• 2.22% Li₂O and 95 ppm Ta₂O₅ over 20.30 m, including 2.78% Li₂O and 92 ppm Ta₂O₅ over 10.50 m in hole RD-24-23A
• 1.30% Li₂O and 142 ppm Ta₂O₅ over 31.60 m, including 1.59% Li₂O and 130 ppm Ta₂O₅ over 25.50 m in hole RD-24-22
• 1.43% Li₂O and 178 ppm Ta₂O₅ over 24.95 m, including 1.91% Li₂O and 145 ppm Ta₂O₅ over 13.50 m in hole RD-24-16A
• 1.16% Li₂O and 145 ppm Ta₂O₅ over 24.30 m, including 1.41% Li₂O et 159 ppm Ta₂O₅ over 10.50 m in hole RD-24-21
• 1.66% Li₂O and 180 ppm Ta₂O₅ over 12.20 m, including 2.34% Li₂O and 153 ppm Ta₂O₅ over 7.50 m in hole RD-24-07

MONTRÉAL, QC / ACCESSWIRE / April 15, 2024 / Critical Elements Lithium Corporation (TSX-V:CRE)(OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce the most recent results from the winter 31-hole, 3,670-meter drill program on its 100% owned Rose West Discovery with multiple wide intersections of lithium-rich pegmatites.

The Rose West Discovery ("Rose West") is situated within the Rose and Rose South property blocks (Figure 1), which constitute 395 km², or only 38% of the total 1,050 km² in the Corporation's highly prospective exploration portfolio in Québec.

The 2024 winter drill campaign successfully completed 3,670 meters of drilling in 31 holes on the spodumene-bearing pegmatite showings discovered during the 2023 summer prospecting campaign, herein referred to as Rose West. Drilling results to date have demonstrated the continuity of a mineralized pegmatite body, which thus far extends over 450 m strike, 370 m down dip and to a vertical depth of 140 m. In the west, the body is comprised of multiple near surface mineralized pegmatites that range up to an apparent thickness of 12.40 m individually. These bodies appear to coalesce into a more substantial spodumene-bearing pegmatite in the east with an apparent width of up to 40.40 m. The near surface pegmatites appear to strike northwesterly with a gentle dip of 15°, while the thicker pegmatite appears to strike easterly with a near-horizontal dip of 13°. The body is still open in all directions, while the greatest exploration potential appears to be to the east.

New assay results from the drill program have been received for fourteen new drillholes. Several of the new drillhole results returned wide high grade lithium assays, as highlighted:

• 1.31% Li₂O and 235 ppm Ta₂O₅ over 40.40 m, including 1.64% Li₂O and 219 ppm Ta₂O₅ over 22.50 m in hole RD-24-20
• 2.22% Li₂O and 95 ppm Ta₂O₅ over 20.30 m, including 2.78% Li₂O and 92 ppm Ta₂O₅ over 10.50 m in hole RD-24-23A
• 1.30% Li₂O and 142 ppm Ta₂O₅ over 31.60 m, including 1.59% Li₂O and 130 ppm Ta₂O₅ over 25.50 m in hole RD-24-22
• 1.43% Li₂O and 178 ppm Ta₂O₅ over 24.95 m, including 1.91% Li₂O and 145 ppm Ta₂O₅ over 13.50 m in hole RD-24-16A
• 1.16% Li₂O and 145 ppm Ta₂O₅ over 24.30 m, including 1.41% Li₂O et 159 ppm Ta₂O₅ over 10.50 m in hole RD-24-21
• 1.66% Li₂O and 180 ppm Ta₂O₅ over 12.20 m, including 2.34% Li₂O and 153 ppm Ta₂O₅ over 7.50 m in hole RD-24-07
• 2.16% Li₂O and 81 ppm Ta₂O₅ over 6.70 m in hole RD-24-06
• 1.55% Li₂O and 105 ppm Ta₂O₅ over 9,00 m, including 2.41% Li₂O and 90 ppm Ta₂O₅ over 4.50 m in hole RD-24-08

In addition to these early intersections of lithium-rich pegmatites, the program also discovered a different style of mineralization associated with an aplite dyke with high grade tantalum values, including 2009 ppm Ta₂O₅ over 0.70m in hole RD-24-07. A summary of the assay results received to date is presented in Table 1 and in Figures 2 to 7. Results of the last batch of assays will be released as soon as they are received and compiled, as expected over the next few weeks.

"It is very satisfying that assay results continue to confirm the discovery at Rose West, as well as the efficacy of our exploration model," observed Chief Executive Officer of the Corporation, Jean-Sébastien Lavallée. "We look forward to launching follow up drill programs to extend Rose West, Rose Lithium-Tantalum, and the mineralization at Lemare and Duval, not to mention applying our proven exploration model to test new targets identified on Critical Elements' extensive land package." He added, "Management continues to work diligently to deliver a financing package for the Rose Lithium-Tantalum Project that minimizes shareholder dilution."

Table 1: Results from Rose West Discovery 2024 winter drill program