Mr. Roger Lemaitre reports

CONSOLIDATED LITHIUM EXPLORATION AT BAILLARGE, INCLUDING A 4,500 M DIAMOND DRILL PROGRAM

Exploration activities have commenced at Consolidated Lithium Metals Inc.'s 100-per-cent-owned Baillarge lithium project, located in the Abitibi greenstone belt approximately 21 kilometres northwest of Val d'Or, Que. The commencement of the summer program was delayed due to the volatile forest fire situation in Northern Quebec.

The summer exploration program consists of three key but separate components:

1. An outcrop stripping and sampling program;
2. A drilling program;
3. A soil sampling program.

Roger Lemaitre, a Consolidated vice-president, stated: "Given the initial work we have done at Baillarge, we are very excited to begin an intensive three-step program, involving stripping, drilling and soil sampling. We feel that Baillarge offers huge opportunities, and we are excited to add results from this region to our tally to go along with the drilling and work being done at Vallee, together with our partners at Sayona Mining's North American Lithium."

The Baillarge Est showing

The Baillarge Est showing is located just south of Lac Baillarge within the northern half of Consolidated's Baillarge property. Lithium mineralization was first found at Baillarge Est in 1955 by Amos Lithium Corp. Ltd., which completed nineteen shallow drill holes targeting pegmatites just below surface to depths of less than 50 metres from surface. The drilling encountered high-grade lithium mineralization in the form of spodumene in holes that targeted what Consolidated has now named dike 1 and dike 7.

Amos intentionally withheld assay results from half of the holes from its drill program from the Quebec government. However, high concentrations of visible spodumene were reported in Amos's drill logs from several holes. High-grade lithium intersections were encountered from some holes that tested dike 7 that were reported. Highlights from the reported assays included 2.48 per cent Li2O (lithium oxide) over 2.29 m from 8.53 m to 10.82 m in hole DDH No. 2 and 1.13 per cent Li2O over 2.59 m from 8.07 m to 10.66 m in hole DDH No 1. These two drill results were obtained from the government of Quebec's mineral assessment file GM 4109B. The company cautions the reader that those drill results are historical and do not necessarily conform to the requirements of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. However, the company does not have any reason to doubt the validity of the results, as its own observations show similar results.

As defined by the outcrop stripping and historical Amos drilling, dikes 7 and 8 have a current combined strike length of 260 m, dikes 1 and 2 have a combined strike length of 120 m, and dikes 3 and 4 have a combined strike length of up to 190 m. These three known dikes are located within an area 375 m wide by 260 m long and all dikes remain open for expansion along strike to the northwest and southeast and at depth. The company also believes that the potential for the discovery of additional lithium-bearing dikes exist both between the existing dikes and adjacent to the Baillarge Est showing area.

Outcrop stripping program

The company has commenced its phase II outcrop stripping program to expand the known surface strike extent of the three identified spodumene-bearing pegmatite dike systems that comprise the Baillarge Est occurrence. Consolidated undertook phase I of the outcrop stripping program during the fall of 2022 (see the company's news releases dated Dec. 12, 2022, and March 16, 2023, which are also available on the company's SEDAR profile). The 2022 program was successful at extending the strike length of the three known pegmatite dike systems.

Consolidated conducted channel sampling of the stripped dikes 1 and 2 and dikes 7 and 8 pegmatites during the 2022 campaign. Highlights from the channel sampling program included individual samples that assayed 2.36 per cent Li2O over 0.5 m, 1.09 per cent Li2O over one m, 0.97 per cent Li2O over one m and 0.52 per cent Li2O over one m from dikes 7 and 8 as well as 0.97 per cent Li2O over one m from dikes 1 and 2. For details of the company's sample testing procedures, please see the company's news release dated Dec. 12, 2022.

Diamond drilling program

Mobilization of a diamond drill to the property has been completed and drilling is currently under way. The company is planning to drill up to 4,500 m in as many as 33 holes testing four main target areas at Baillarge Est. The highest-priority target is the dike 7 and 8 corridor below the high-grade 1955 Amos drill holes, underneath the outcrop stripping area, and along strike to the northwest and southeast. Second priority will be the dike 1 and 2 corridor, followed by the dike 5 area, and finally drill testing under the 2022 lithium-in-soil anomaly defined during the summer 2022 soil sampling program (see Consolidated news release dated March 16, 2023). Drill holes testing the known dikes will be initially spaced on 100 m wide fences and 50 m spacings to a depth of approximately 100 m. Infill fences at 50 m spacings and holes testing farther down dip will be completed should results warrant.

No outcrop is present in the area of the lithium-in-soil anomaly target which covers an area of approximately 100 m by 75 m located between dikes 3 and 4 and 7 and 8 (the BE anomaly). The BE anomaly comprises three B-horizon soil samples collected on a 50 by 50 m grid with samples ranging from 233 parts per million Li to 310 ppm Li.

Soil sampling program

In 2022, the company undertook a property-wide soil sampling survey on a 400 by 200 m grid spacing. In addition to the BE anomaly, the company defined five other lithium-in-soil anomalies where the lithium-in-soil concentration exceeded 200 ppm Li. The density of soil sampling was tightened to a 50 by 50 m grid in the Baillarge Est showing area, helping to further define the BE anomaly.

The Baillarge Est pegmatites strike southeast toward the Chubb showing, located immediately east of the east property boundary. From various Quebec assessment reports and public disclosures by the Chubb showing owner Burley Resources, the Chubb pegmatites strike northwest in the direction toward the Baillarge Est showing. The 1.2-kilometre-long area between the Baillarge Est and Chubb showings is located on the company's property and has never been explored. A 248 ppm single sample lithium-in-soil anomaly was detected during the 2022 soil sampling program within the 400 by 200 m grid area along the east property boundary adjacent to the Chubb showing.

Consolidated will be undertaking a 50 by 50 m spaced infill soil sampling program to follow up this 248 ppm Li anomaly covering the area between the Baillarge Est and Chubb showings to define future drilling targets in the highly prospective Baillarge lithium corridor.

About soil sampling

Soil samples were collected from the B-horizon of the soil profile in plastic bags shipping to the laboratory for geochemical analysis. The analysis was undertaken by Impact Global Solutions Laboratory in Delson, Que. Upon arrival at the laboratory, the samples were dried, weighed, crushed and split into subsamples of which one 250-gram subsample was pulverized to allow 85 per cent of the material to pass through a 75-micron sieve. The sieved subsample was digested in acid and analyzed using inductively coupled plasma mass spectrometry, inductively coupled plasma optical emission spectroscopy and SPF.

The company implemented quality assurance/quality control procedures to ensure the validity of the sampling by using a series of field duplicates and reference standards in each batch of samples sent for analysis. A review of the field duplicates and reference standards indicate that the soil sample results are likely reasonably precise and accurate.

The Impact Global Solutions Laboratory is an ISO/IEC 17025:2017 accredited facility (No. 889) by the Standards Council of Canada and is independent from Consolidated.

Qualified person

The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, PGeo, an independent consultant that is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Consolidated Lithium Metals Inc.

Consolidated Lithium Metals (formerly known as Jourdan Resources Inc.) is a Canadian junior mining exploration company trading under the symbol CLM on the TSX Venture Exchange and 2JR1 on the Stuttgart Stock Exchange. The company is focused on the acquisition, exploration, production and development of mining properties. The company's properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne batholith, around North American Lithium's Quebec lithium mine.

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