Mr. Mansoor Jan reports

COMET LITHIUM TO COMMENCE FIELD PROGRAM AT TROILUS EAST

Comet Lithium Corp. will be commencing a lithium-focused exploration program at the 100-per-cent-owned Troilus East property, located in Eeyou-Istchee Baie James, Que. The past exploration program completed at Troilus did not take lithium into consideration but it succeeded in identifying lithium anomalies. The new work program will target these areas for pegmatite prospecting.

The Troilus property was initially explored in 2020 for gold and copper, however, upon review of the database and results obtained from the program, five high-priority target areas were identified for lithium potential. More importantly, all five targets follow a northeast alignment along the southeastern flank of the Parker granite intrusion over a strike length of about 20 kilometres. Further, the targets generated from the historical results are based on a collection of samples that carried lithium values up to 248 parts per million.

Mansoor Jan, interim president and chief executive officer of Comet Lithium, states: "While Liberty is the flagship property for Comet, we have decided that a small program at Troilus East is also worth advancing, as it is strategically located in an emerging lithium belt which has already stimulated the interest of major players such as Sayona Mining. We believe that we have a head start with Troilus East considering our previous exploration on the property with initial work highlighting the presence of lithium in the background rocks. In addition, the property is adjoining the Troilus Gold copper-gold deposit and can benefit from an accessibility standpoint."

Troilus East lithium highlights:

1. The Troilus East property has never been explored for lithium despite being located proximate to strike and inside the same geological units as the lithium bearing pegmatites of Lac Moblan located about 50 kilometres south of the property.
2. Geological mapping at Troilus East shows granitic dikes and occasional pegmatite veins intruded in mafic rocks. This context is well known to host spodumene-bearing pegmatites, the main lithium carrier in the James Bay area.
3. Ninety-five samples among 475 surface samples across the Troilus East property, are anomalous in lithium above 30 ppm and up to 248 ppm. By comparison, the same range of lithium grade was found inside 300 metres from the Moblan pegmatite system.
4. They are mostly composed of basalt with quartz veinlets. This initial prospecting was oriented toward gold-copper and did not consider pegmatites as prospective targets; meaning no pegmatites observed in 2020 were sampled.
5. The five lithium target areas have been identified based on clusters of lithium values. Two of them are located inside the Parker granite, while two others are located close to lenticular granitic intrusion-hosted mafic terrains.
6. Elements such as scandium (Sc, up to 964 ppm), tin (Sn, up to 1,100 ppm) and tungsten (W, up to 100 ppm) are present in the environment of some of the targets, showing the potential influence of a large, possibly zoned magmatic system.

Troilus East project and surrounding area -- Frotet-Evans greenstone belt

Troilus East lithium targets

The systematic exploration approach focusing on the predetermined targets will allow Comet Lithium to gain a better grasp on the vast lithium potential that exists on the property. This program will become the basis to establish a larger more in-depth lithium exploration program during 2024.

Five separate target areas identified to date follow a northeast alignment along the eastern flank of the Parker intrusion over a strike length of approximately 20 kilometres.

As part of this field program a maximum number of samples will be collected for lab analysis across all five targets. In addition, field crew will do a comprehensive mapping and measurement of the visible pegmatites and include channel sampling where necessary.

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.

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