Mr. Mansoor Jan reports

COMET LITHIUM RECEIVES DRILLING PERMIT AND LIDAR SURVEY RESULTS AT LIBERTY

Comet Lithium Corp. has received the drilling permit that was submitted on Sept. 20, 2023. The company also announces that it has received the results of the lidar (light detection and ranging) survey and now has approval to begin the inaugural heliborne drill program on its 100-per-cent-owned Liberty property located in James Bay, Que.

The Liberty property is located adjacent to Winsome Resources' Adina lithium project where Winsome has recently discovered a 1.6-kilometre lithium-bearing pegmatite system trending eastward (see Winsome news dated Jan. 24, 2023). Comet Lithium wants to highlight a possible structural connection between the Winsome Adina project and the Liberty property.

Comet Lithium is actively following the activities on the neighbouring Winsome Resources' Adina project. According to a drilling update on Sept. 4, 2023, Winsome had reported a position for DDH AD-23-045 collared approximately 700 metres west of the Liberty property limit. The Lithium results that Winsome released included 1.26 per cent LiO2 over 15 metres from 47.4 to 62.4 metres (ASX: WR1 Winsome Resources announcement April 3, 2023).

Lidar survey highlights

The lidar (light detection and ranging) survey was produced by XEOS Aerial Imagery and Lidar Services Sept. 12, 2023. The objective was to obtain a ground image that ignores the vegetation masking effect to facilitate the interpretation of structures possibly related to pegmatite emplacement.

The point cloud survey generated a point density of 0.45 metre at ground level, the final resolution produced after the treatment is 0.5 metre. These data are consistent but not referred at altitude due to lack of ground surveying. Resulting files used included different classification to differentiate water surface, ground, hard ground, low vegetation and canopy. The survey showed the smooth modelling of the glacial sediment blanket in most areas of the property. These details reinforce the preliminary structural interpretation built from satellite imagery and magnetic survey.

The southern half of the survey was done over the Trieste formation, which is composed mainly of amphibolitized volcanic rocks. Clear east-west magnetic contrast following unit's orientation is cut by northeast breaks apparent on the lidar model. Based on field observations, the proximity of this topographical feature is also the focus of different episodes of pegmatite veining and late tectonic granitic intrusion hosted in amphibolite.*

* Geological terms such are granite or pegmatite are not evidence of spodumene, the main lithium silicate in rocks.

Both the magnetic and lidar surveys identified a well-defined magnetic contrast with a surface expression in the northern half of the property, extending for approximately 6.5 km. It is noticeable that the trend's orientation connects to the west with the Adina pegmatite system. The area is entirely covered by glacial glaciofluvial sediments.

Mansoor Jan, Comet Lithium's interim chief executive officer and president, stated: "We are pleased to achieve two important milestones to assist in the planning and execution of Comet Lithium's inaugural drilling program at our Liberty property. We are confident that the interpretation work completed so far is allowing us to better understand the continuity of pegmatites and structural orientation inside the Liberty property."

Qualified person

Martin Demers, PGeo (ogq No. 770, APEGNB L5980, PGO No. 3785), registered in the provinces of Quebec, New-Brunswick and Ontario a consultant to Comet Lithium, is a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.

About Comet Lithium Corp.

Comet Lithium is a dynamic lithium-focused exploration company active in the prolific James Bay district of Quebec. Comet Lithium's flagship asset is its 100-per-cent-owned Liberty property contiguous to Winsome Resources' Adina deposit, a growing high-grade discovery. Comet Lithium is advancing Liberty to first-ever drilling.

We seek Safe Harbor.