Mr. Vincent Metcalfe reports

COMET LITHIUM COLLABORATES WITH VRIFY TO REVEAL NEW EXPLORATION TARGETS USING MACHINE LEARNING TECHNOLOGY

Comet Lithium Corp. is collaborating with Vrify Technology Inc. to, among other things, generate targets from a proprietary machine learning algorithm. The algorithm will be trained using previously disclosed data along with other publicly available information related to the Comet Lithium properties. It will generate multiple scenarios, which will be continually refined as new data become available or is published in the public domain. The Vrify machine learning tool will provide an additional layer of information to enhance Comet Lithium's exploration database and exploration programs.

Vincent Metcalfe, the executive chair and chief executive officer of Comet Lithium, commented: "We are thrilled to announce our collaboration with Vrify, which will leverage machine learning algorithms to actively identify new exploration targets within Comet Lithium's portfolio of properties. This innovative approach will significantly enhance the prospectivity of our properties by adding new targets to our exploration pipeline."

The initial phase of Vrify's collaboration is focusing on Comet Lithium's 100-per-cent-owned Liberty lithium property, and the initial targets generated to date by Vrify will be presented by Comet Lithium and Vrify on Monday, March 4, 2024, at 1 p.m. (Eastern Time) at the Prospectors & Developers Association of Canada (PDAC) Convention in Toronto, Canada. The presentation will be held at Vrify's lounge (booth 3321) on the investors exchange floor at the Metro Toronto Convention Centre, located at 255 Front St. W, Toronto, Ont., M5V 2W6. It is expected that the algorithm will generate additional targets on Comet Lithium's properties, including on its Liberty property, as additional work is completed on such properties and data of neighbouring properties also become publicly available.

Vrify artificial intelligence system

Vrify's artificial intelligence (AI) targeting system uses a combination of deep learning and computer vision architectures to train predictive models with data from various exploration features like drill holes, rock geochemistry and mineral occurrences. The approach leverages complex data relationships to predict mineral exploration targets, streamlining the process of identifying viable mineral deposits. The automation of target generation will allow the trained model to be updated quickly with new data from continuing exploration work. By using locally trained models, Vrify will be able to deliver prediction accuracy metrics and feature importance maps, giving true insight into exploration vectors.

The Vrify modelling is conducted by compiling the exploration data into a gridded data space. Feature engineering steps include geophysical standard filtering such as vertical derivatives (FVD), tilt angle (tilt) and other Fourier filtering. Geological information from outcrops is used to generate a probabilistic lithological map and geochemical data are interpolated using a random forest regression process. The feature engineering process is validated using statistical evaluation of the products, together with visual validation. All exploration features are then compiled as entry to the Vrify targeting algorithm. Learning examples are derived from known mineralized samples established from drill holes, surface sampling et cetera.

The available learning data points are separated between training and validation sets in order to train and test the algorithm. This allows Vrify to evaluate the performance metrics associated with the predictive modelling.

Qualified person

Vincent Cardin-Tremblay, PGeo (OGQ (Ordre des geologues du Quebec) No. 1386, PGO (Professional Geoscientists Ontario) No. 3347), registered in the provinces of Quebec and Ontario, is vice-president of exploration to Comet Lithium, and 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.

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