Mr. Rene Bharti reports

CONSOLIDATED LITHIUM CLOSES PRIVATE PLACEMENT FINANCING

Consolidated Lithium Metals Inc. has closed its previously announced non-brokered private placement financing of units at a price of six cents per unit for gross proceeds of $1,687,591. For more information on the offering, please see the company's news release dated Nov. 1, 2023, which is available under the company's SEDAR+ profile.

Pursuant to the offering, Consolidated Lithium issued 28,126,517 units at a price of six cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of eight cents until Dec. 6, 2026. The securities issued in connection with the offering are subject to a statutory four-month hold period, which expires on April 7, 2024. Completion of the offering is subject to receipt of final approval of the TSX Venture Exchange. The company intends to use the net proceeds from the offering for working capital and general corporate purposes.

In connection with the offering, Consolidated Lithium paid finders' fees of $88,373.46 in cash and issued 1,472,891 non-transferable finder's warrants to an eligible finder in accordance with TSX-V policies. Each finder's warrant entitles the holder thereof to acquire one common share at a price of eight cents at any time prior to Dec. 6, 2025.

About Consolidated Lithium Metals Inc.

Consolidated Lithium Metals (formerly known as Jourdan Resources) 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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