COMET ANNOUNCES CLOSING OF PONTAX SOUTH AND PONTAX EAST PROPERTIES ACQUISITION

ROUYN-NORANDA, QC, Nov. 10, 2023 /CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) ("Comet Lithium") is pleased to announce the closing of the previously announced acquisition of a 100% interest in two lithium exploration stage mineral properties (the "Properties") from Nomad Resource Partners Inc. ("Nomad Resource Partners") pursuant to an asset purchase and sale agreement dated October 25, 2023.

The newly acquired Properties consists of 76 mining claims within an active hard rock lithium district. The Properties are made up of 32 claims comprising the Pontax South property and 44 claims comprising the Pontax East property. The consideration for the acquisition of the Properties was paid by the issuance of 1,850,000 common shares of Comet Lithium (the "Consideration Shares") to Nomad Resource Partners. The Consideration Shares are subject to a resale restriction period of four months and one day. Please refer to Comet Lithium's press release dated October 26, 2023 for more details on the Properties.

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%-owned Liberty Property contiguous to Winsome Resources' Adina deposit, a growing high-grade discovery. Comet Lithium is advancing Liberty to first-ever drilling, with the aim to deliver long-term value for its stakeholders.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

SOURCE Comet Lithium Corp.

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