Mr. James Newall reports

QUEST CRITICAL METALS CONFIRMS LICENCE RENEWALS OF CZECH AND GERMAN EXPLORATION LICENCES, COMMENCEMENT OF NEGOTIATIONS WITH LOCAL DRILLING COMPANY AND EU FUNDED GEOCHEMICAL PROGRAM

All of Quest Critical Metals Inc.'s exploration licences that were due to expire in 2024 have been renewed both in the Czech Republic and in Germany. A local drilling company has been selected, and negotiations have commenced for the spring drilling program that will commence as soon as the weather conditions allow.

As per the company's press release of Dec. 3, 2024, the testing of the EIS software (exploration information systems, European Union grant-funded project) identified, using artificial intelligence and data analysis, a new prospective location with the licence areas. Therefore, a geochemical (soil sampling) survey will be carried out on this area by the company and its EIS partners at the same time as the spring 2025 drilling program. All the costs of this geochemical work, including lab reports, will be covered by the EU grant.

Following the continuing weakness in the lithium market, an increase in local taxes and further unexpected future costs, the company carried out a strategic review of the Brazilian exploration licences. It was felt that given the continuing successes at Tisova/Klingenthal, particularly with the EU grant-funded projects, it was best to focus all the company's efforts in this area and therefore has relinquished the lithium licence areas.

James Newall, president and chief executive officer, commented: "Extending our licences in both countries required us to demonstrate to the relevant authorities a clear plan and the potential of those licence areas. I am delighted to say that we achieved that and would like to thank our team in the Czech Republic and Beak Consultants for their hard work. Now we can formally engage a drilling contractor, and we are very excited to soon drill the large geophysical anomaly that has been assessed to be a VMS. The EU-funded geochemical program is an added bonus as it is in an untested area that has been identified as prospective by the EIS software."

We seek Safe Harbor.