Mr. Vincent Metcalfe reports

COMET LITHIUM REPORTS LITHIUM ANOMALY FROM TILL SAMPLES ALONG NORTH-EAST STRUCTURE FROM THE INITIAL FIELD PROGRAM AT ITS LIBERTY PROPERTY

Comet Lithium Corp. has provided results from the maiden field program that was conducted on the Liberty property in September, 2023. The field team spent a total of 14 days on the property, which also included some work on the Galli project located approximately 15 kilometres east from Patriot Battery Metals' Corvette project. The field team followed the northeast trend previously identified by the magnetic and lidar surveys and on strike with the lithium pegmatites at the neighbouring Adina lithium deposit held by Winsome Resources Ltd. The field team was able to proceed with the identification of a series of anomalous lithium till samples along the northeast trend. During the field program on the property, an additional abnormal lithium area in the southwest corner and on strike with the Adina property was identified. Throughout the program, the field team was able to identify several large subcrop frost heaves block and glacial boulders and erratic blocks of pegmatite in an overburden covered landscape with sporadic outcrops.

Highlights of 2023 sampling programs:

• Identification of lithium-cesium-rubidium till anomalies along three km of the six km northeastern corridor, for which three km remains untested;
• Identification of anomalous till samples in the southwest corner on strike with the Adina property far east drill holes, located approximately 660 metres west of the property;
• Identification of numerous large subcrop frost heaves block and glacial boulders and erratic blocks of pegmatite in an overburden covered landscape with sporadic outcrops;
• Collected a total of 227 rock samples (197 blocks and boulders samples and 30 bedrock samples) and 272 till samples.

Vincent Metcalfe, executive chair and chief executive officer, commented: "Confirming such a large lithium anomaly on the property is a significant milestone for the corporation as we continue to add the necessary layers of data to our systematic exploration approach. We now have two defined and highly prospective areas to further evaluate as we advance towards a defined drilling program in 2024. The upcoming results from the gravity survey will add valuable additional data, as we continue to refine our geologic understanding of the property."

Comet Lithium is advancing toward a defined drilling program on the property and results from the 2023 gravity survey are still pending. Additionally, given the positive results on the corridor, Comet Lithium expects to expand the till grid to the northeast and is planning an intensive systematic outcrop identification and field mapping program in the spring of 2024 to search for an up-ice source of the till sample anomalies and potential lithium-enriched pegmatites.

Till sampling program

The till sampling program was completed in August, 2023. A total of 272 till samples cover an area approximately 2.5 km by three km. Samples were taken on a random pattern at an average spacing of 100 metres depending on the till exposure.

Samples were described and classified in terms of granulometry and colour and sent to ALS Global to undergo aqua regia digestion for multielement analysis.

Results from the program have identified two anomalies with overlapping elevated values of lithium, cesium and rubidium. These lithium concentrations follow closely the northeast trend identified on both mag and lidar surveys and appear open along the up-ice direction. The interpreted direction of glacial ice movement is from the northeast.

Comet Lithium is planning on expanding the till grid to the northeast as part of the 2024 exploration program on the property.

Sampling techniques and quality assurance/quality control

Under the supervision of senior staff, one-to-two-kilogram till samples were taken with an auger at depth between 0.3 and one m. The location for each sample was recorded using a hand-held GPS. Samples were put in plastic bags with bar-coded sample tags inserted for identification. Samples were packaged after description and sent to ALS Global for processing. Each sample were sieved at 180 mesh, the fine fraction underwent multielement analysis by aqua regia digestion and analysis packages by inductively coupled plasma mass spectrometry for gold and trace elements. ALS Global also routinely inserts certified standards, blanks and duplicates results as part of its internal QA/QC standard procedure.

Rock sampling program

The technical team has now received analytical results for all of the 227 rock samples collected during the 2023 field season. The maximum lithium assay from the program was 133 parts per million Li. A group of 13 boulder samples with concentrations ranging from 64 ppm to 133 ppm lithium oxide are preferentially associated with northeast magnetic contrast and inferred structures in the southern part of the property. As indicated by rare outcrops, the area is within the Trieste formation composed mainly of amphibolite, the main host rock known regionally for spodumene-bearing pegmatite.

Sampling techniques and QA/QC

Under the supervision of senior staff, samplers collected one-to-two-kilogram rock samples from outcrops and boulders using rock hammer and chisel. The location for each sample was recorded using a hand-held GPS Samples were put in plastic bags with bar-coded sample tags inserted for identification. The sample bags were gathered for transport to the lab. Comet Lithium's geologists or contractors maintained secure custody of the samples until transporting them to ALS Laboratories in Val d'Or, Que., for sample preparation and analysis.

Each sample was crushed, split, pulverized and analyzed after peroxide fusion using inductively coupled plasma optical emission spectroscopy plus ICP-MS instruments. ALS Global also routinely inserts certified standards, blanks and pulp duplicates as part of its internal QA/QC standard procedure. Results from these QC samples are also reported.

The results reported herein exhibited satisfactory results from these QA/QC measures.

Qualified person

Vincent Cardin-Tremblay, PGeo (OGQ No. 1386, PGO No. 3347), registered in the provinces of Quebec and Ontario, is vice-president, exploration, for Comet Lithium and 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 lithium deposit, a growing high-grade lithium discovery. Comet Lithium is advancing its Liberty property to first-ever drilling.

We seek Safe Harbor.