Mr. Vincent Metcalfe reports

COMET LITHIUM EXPANDS DISCOVERY WORK AT ELMER EAST, CONFIRMING A CONTINUOUS CAESIUM PEGMATITE OVER MORE THAN 200 METRES

Comet Lithium Corp. has released results from its October, 2025, channel sampling program at the Elmer East project in the Eeyou Istchee James Bay region of Quebec. The program identified several out crops of high-grade cesium-dominant LCT pegmatites extending over more than 200 metres of projected strike. The five sawn channel samples collected along the trend returned strong cesium grades along with significant tantalum and lithium values. Importantly, the 200-metre corridor represents only the currently exposed portion of the system. Geological and structural mapping indicate the mineralized trend may extend beyond current exposures, and additional parallel dikes have already been identified.

These results elevate Elmer East into a rare class of global discoveries. High-grade primary cesium systems are uncommon, with only a handful of notable examples worldwide (Tanco, Sinclair, Bikita). The continuity, grade and multielement enrichment now documented at Elmer East position Comet Lithium at the forefront of a rapidly emerging critical-mineral opportunity.

Global significance of the discovery

High-grade primary cesium pegmatites are among the rarest critical-mineral systems on Earth. Only three deposits globally: Tanco (Canada), Sinclair (Australia) and Bikita (Zimbabwe) have ever been commercially mined for cesium. The multi per cent Cs2O grades, accompanying Ta2O5 and Rb enrichment, and structural continuity observed at Elmer East are all characteristic of this very small class of deposits.

These results suggest Comet Lithium may be delineating the first significant cesium-rich LCT system ever identified in the James Bay region, underscoring the strategic importance of this discovery. Given the growing demand for cesium in advanced electronics, perovskite solar, aerospace alloys, quantum technologies and specialized chemical applications, Elmer East represents a potential cornerstone discovery within Canada's critical mineral landscape.

The exploration results disclosed herein are early stage in nature, and additional work is required to fully understand the extent, continuity and significance of the mineralized system.

Program highlights:

• All five channels cut across the mineralized corridor returned high-grade cesium, with robust Li2O, Ta2O5 and Rb support;
• Mineralized trend now confirmed over 200 metres, remaining open in all directions;
• Multiple intervals returned greater than 4 per cent Cs2O, characteristic of pollucite-bearing or pollucite-proximal LCT systems;
• The strength and consistency of results indicate potential for a significant cesium asset, a category with only a handful of global peers;
• Preparations advancing for a 2026 drilling program.

Detailed channel results

CH-1 (EE25-CH1):

• 2.45 metres at 1.11 per cent Li2O, 469 ppm (parts per million) Ta2O5 and 3.39 per cent Cs2O:
  • Including 1.0 m at 0.49 per cent Li2O, 375 ppm Ta2O5 and 4.91 per cent Cs2O.

CH-2 (EE25-CH2) (open to the north and south):

• 3.0 m at 1.97 per cent Li2O, 866 ppm Ta2O5, and 2.27 per cent Cs2O:
  • Including 0.5 m at 1.15 per cent Li2O, 495 ppm Ta2O5 and 3.75 per cent Cs2O;
  • Including 2.0 m at 2.35 per cent Li2O, 1,045 ppm Ta2O5 and 2.06 per cent Cs2O.

CH-3 (EE25-CH3) (open to the south):

• 3.2 m at 1.20 per cent Li2O, 520 ppm Ta2O5 and 2.45 per cent Cs2O:
  • Including 0.5 m at 1.02 per cent Li2O, 477 ppm Ta2O5 and 4.66 per cent Cs2O.

CH-4 (EE25-CH4) (open to the north and south):

• 2.2 m at 1.22 per cent Li2O, 1160 ppm Ta2O5 and 2.18 per cent Cs2O:
  • Including 0.5 m at 1.04 per cent Li2O, 694 ppm Ta2O5 and 4.19 per cent Cs2O.

CH-5 (EE25-CH5) (open to the north and south):

• 3.0 m at 1.13 per cent Li2O, 929 ppm Ta2O5 and 1.35 per cent Cs2O:
  • Including 1.5 m at 1.26 per cent Li2O, 1,315 ppm Ta2O5 and 2.09 per cent Cs2O.

Geological observations

The October program was the second phase following the company's August grassroots discovery and the company has now defined:

• A wide, mineralized LCT pegmatite corridor;
• Strong enrichment in Cs2O, Ta2O5, Rb and Li2O;
• Multiple internal zones with greater than 4 per cent Cs2O, comparable with grades historically mined at cesium operations;
• Structural continuity suggesting a large, evolving pegmatite system, open along strike and at depth.

These grades and zonation patterns are hallmarks of pollucite-rich cesium systems, known for their rarity, strategic value and high commodity pricing.

Comparable global systems

The grades reported at Elmer East, including multiple greater than 4 per cent Cs2O intervals, are consistent with the high-grade zones historically mined at the Tanco mine in Manitoba, the Sinclair mine in Australia and the Bikita mine in Zimbabwe. These deposits supplied the global cesium market for decades. Comparisons at this early stage provide valuable context to the emerging potential of Elmer East, particularly as cesium-rich pegmatites remain extremely rare in modern exploration.

References to deposit analogues are for geological context only and there is no certainty that the Elmer East project will exhibit similar grades, tonnages, mineralogy or economic potential.

Next steps

• Final structural mapping and drill hole planning over the 3-D modelled mineralized corridor;
• Potential additional mechanical stripping to extend exposures;
• Drill permit amendments and pad planning;
• 2026 drill program to test depth, thickness and potential additional parallel pegmatites.

"In management's view, Elmer East is now clearly emerging as a leading cesium discovery, these type of deposits are rare. The continuity we are seeing over 200 metres, combined with consistently high grades across the channel samples, is great. Cesium-dominant LCT pegmatites are rare, and to find one of this scale, grade and multielement enrichment in James Bay is remarkable. Elmer East is quickly becoming one of Comet's most strategic assets, and we are accelerating work to get drills turning in 2026," commented Vincent Metcalfe, chair and chief executive officer of Comet Lithium.

Cautionary statements

Channel sample intervals represent sample lengths and may not represent true widths. Grab samples are selective by nature and may not be representative of mineralized zones.

QA/QC (quality assurance/quality control)

A quality assurance/quality control protocol following industry best practices was incorporated into the sampling program.

All rock samples were collected under the supervision of Comet Lithium and Dahrouge Geological Consulting employees. All samples were logged and photographed on site while being collected. Samples were then bagged, and blanks and certified reference materials were inserted at regular intervals. Groups of samples were placed in large bags, sealed with numbered tags in order to maintain a chain of custody, and shipped to AGAT Laboratories in Val d'Or, Que.

All assays reported were analyzed at AGAT Laboratories in Mississauga, Ont., for multielement using sodium peroxide fusion and ICP-OES/ICP-MS finishes under AGAT Laboratories code 210378. In the case of overlimit for cesium (greater than 10,000 parts per million), assays were analyzed under package 201-179 using sodium peroxide fusion and ICP-OES finish.

Qualified person

Vincent Cardin-Tremblay, PGeo (ogq No. 1386, PGO No. 3347), registered in the provinces of Quebec, and Ontario is vice-president, exploration, 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 exploration company with a growing portfolio of highly prospective assets located in Quebec, including several properties in the prolific James Bay district. The company's land package includes the Liberty property, located adjacent to Winsome Resources' Adina lithium discovery and the Troilus East property, positioned next to Troilus Gold's gold-copper project. Comet's strategy is focused on systematic exploration and unlocking the value of its diverse property portfolio through targeted fieldwork and strategic partnerships. Comet Lithium has 29,710,953 common shares outstanding.

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