Mr. Vincent Metcalfe reports

COMET LITHIUM COMPLETES PHASE 1 GRAVITY SURVEY AT LIBERTY AND EXPANDS TO PHASE 2 AND 3

Comet Lithium Corp. has completed phase 1 of the ground geophysical gravity survey. Following completion of phase 1, the corporation has decided on completing phase 2 and phase 3 of the gravity survey at its 100-per-cent-owned Liberty property in James Bay, Quebec, Canada. The survey crew expects to complete these two additional phases of the gravity survey by mid-December. Phase 1 of the gravity survey has increased the confidence to move forward with phases 2 and 3 in 2023. A comprehensive gravity survey will assist the future drill program by generating multiple exploration targets. The gravity survey will assist in optimizing pegmatite drill targets across the Liberty property for the anticipated inaugural drill program. This ground geophysical gravity survey will complement the recently completed field and soil sample program.

Gravity survey approach

Phases 2 and 3 of the ground gravity survey will be carried out by Val d'Or, Que.-based Geophysique TMC using a Scintrex CG-6 and will cover approximately 3.5 square kilometres, following a 20-metre by 100 m grid pattern for approximately 2,100 stations. This expanded gravity survey is built upon the insights generated from phase 1 and aims to delimit the extents of the Winsome Resources' Adina pegmatite trend to the east, inside the Liberty property. Comet Lithium is using bespoke data generated from phase 1 to better interpret the subsurface geology and structures of the Liberty property, and detect potential pegmatite contacts in amphibolitized basalt.

Vincent Metcalfe, executive chairman of Comet Lithium, commented: "Preliminary work from gravity data phase 1 assisted the technical team in expanding the survey to phase 2 and 3. Comet Lithium's technical team is impressed by the ground crew in safely executing the day-to-day survey and maintaining robust QA/QC [quality assurance/quality control] of the gravity survey. Early insights are work in progress and we believe the gravity survey may provide encouraging insights into validating the Adina trend at Liberty property. In addition, the expanded gravity survey, covering approximately 2,100 stations, will add a robust building block to generate multiple drill targets, and assist in validating the evidence that the Liberty property and Adina together may potentially be part of a similar corridor."

The Comet Lithium technical team is working in close collaboration with a Perth-based consultancy to assist in the interpretation of data from the gravity survey and drill target generation, as well as providing continuing technical guidance.

The corporation also wishes to draw attention to Winsome Resource Ltd.'s recent update regarding "Adina strike extension to 1,340 metres." This update brings the reported significant spodumene pegmatites located at approximately 660 metres from Comet's Liberty property.

Winsome Resource reported the following in its press release dated Nov. 27, 2023: "Intersections reported in this announcement confirm the continuity of lithium mineralization in spodumene-bearing pegmatites to the east of Adina Main, with drilling completed on 100 m centres up to 300 metres east of drilling previously reported." Additional, high-grade mineralization also continues to be intersected north of Adina Main, with further results from the near-surface, up-dip extensions of the Main and Footwall zones.

Qualified person

Vincent Cardin-Tremblay, PGeo (OGG No. 1386, PGO No. 3347), registered in the provinces of Quebec and Ontario, is vice-president of exploration for 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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