Mr. Rene Bharti reports

DRILLING COMMENCES ON CLM'S VALLEE JOINT VENTURE

The 2023 drilling program is under way at Consolidated Lithium Metals Inc.'s Vallee joint venture lithium project, located approximately 30 kilometres north of Val d'Or, Que., within the heart of the Vallee lithium corridor.

The Vallee JV is located immediately adjacent to, and along strike of, Sayona Mining Inc.'s North America Lithium (NAL) operation, the largest lithium operation in North America. The project is owned by Consolidated, with NAL having an option to earn up to a 51-per-cent interest in the Vallee JV (see the company's news releases dated Nov. 14, 2022, and Dec. 19, 2022). NAL is required to spend $4-million on exploration activities prior to Nov. 14, 2023, to earn an initial 25-per-cent interest in the Vallee JV. NAL has a second option to spend an additional $6-million by Nov. 14, 2024, to earn a cumulative 50-per-cent interest.

The objectives of the 2023 drilling program are to expand upon the lithium pegmatites discovered by the company's drilling programs in 2021, 2022 and 2023, which remain open along strike to the southeast and at depth, as well as testing the on-strike extension of the NAL pegmatite swarm on the project. While Consolidated's 2021 and 2022 drill programs were successful at discovering multiple spodumene-bearing pegmatites, these programs appear to have tested the area just north of the main NAL mine trend. Testing the heart of the trend will be a core objective of the 2023 program, as this area is located only 1,200 metres southeast and along strike of the current NAL open pit. Until this year, neither Sayona or the previous mine operators have conducted a significant drilling program between the pit margin and the western boundary of the Vallee JV.

The 2023 exploration program will consist of 14,500 m of drilling in approximately 45 drill holes, spaced on lines approximately 150 m apart with closer-spaced infill holes to be drilled where results warrant. The first holes of the program will be drilled along the western property boundary with NAL, testing the southern extension of Consolidated's currently defined lithium pegmatites and in the heart of the NAL mine trend extending southeast from the NAL open pit. The company has been informed that all required permits have been received from the Quebec government, and that the drilling operations have commenced.

Qualified person

The scientific and technical information contained herein has been reviewed and approved by Alexandr Beloborodov, PGeo, an independent consultant who 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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