Critical Elements Lithium Continues to Expand Major Discovery at Rose West with Additional Multiple Wide Lithium-Rich Intercepts

Highlights:

• 1.39% Li₂O and 157 ppm Ta₂O₅ over 35.30 m, including 2.33% Li₂O and 152 ppm Ta₂O₅ over 9.00 m in hole RD-24-25A
• 1.29% Li₂O and 121 ppm Ta₂O₅ over 31.50 m, including 1.69% Li₂O and 127 ppm Ta₂O₅ over 13.50 m in hole RD-24-24
• 1.22% Li₂O and 250 ppm Ta₂O₅ over 20.50 m, including 1.60% Li₂O and 181 ppm Ta₂O₅ over 15.00 m in hole RD-24-17
• 1.27% Li₂O and 192 ppm Ta₂O₅ over 18.65 m in hole RD-24-27
• 1.59% Li₂O and 127 ppm Ta₂O₅ over 13.80 m in hole RD-24-18
• 1.75% Li₂O and 201 ppm Ta₂O₅ over 10.10 m in hole RD-24-19

MONTRÉAL, QC / ACCESSWIRE / April 22, 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 Lithium-Tantalum 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:

• 1.39% Li₂O and 157 ppm Ta₂O₅ over 35.30 m, including 2.33% Li₂O and 152 ppm Ta₂O₅ over 9.00 m in hole RD-24-25A
• 1.29% Li₂O and 121 ppm Ta₂O₅ over 31.50 m, including 1.69% Li₂O and 127 ppm Ta₂O₅ over 13.50 m in hole RD-24-24
• 1.22% Li₂O and 250 ppm Ta₂O₅ over 20.50 m, including 1.60% Li₂O and 181 ppm Ta₂O₅ over 15.00 m in hole RD-24-17
• 1.27% Li₂O and 192 ppm Ta₂O₅ over 18.65 m in hole RD-24-27
• 1.59% Li₂O and 127 ppm Ta₂O₅ over 13.80 m in hole RD-24-18
• 1.75% Li₂O and 201 ppm Ta₂O₅ over 10.10 m in hole RD-24-19

A summary of the new assay results is presented in Table 1 and in Figures 2 to 7. A summary of the previously announced assay results is presented in Table 2 and in Figures 2 to 7.

"With the complete results of the Rose West winter program, we recognize the opportunity to add significantly to the Rose Project's resource inventory and, potentially, augment its mine life and already robust economic appeal," commented Chair of the Board Eric Zaunscherb. "As a reminder, the Rose Lithium-Tantalum Project Feasibility Study published in August 2023 (see press release dated August 23, 2023) returned an after-tax NPV8% of US$2.2B and an after-tax IRR of 65.7%. The next step is a second-round drill program, currently being planned, followed by an initial mineral resource estimate if warranted. In the interim, management sees no reduction in urgency on the part of lithium end-users to see quality spodumene concentrate sourced from a world-class jurisdiction flow into their supply chains. Québec, with its clean grid and exceptional regulatory standards, is well-regarded globally."

Table 1: New results from Rose West Discovery 2024 winter drill program