Mr. Rene Bharti reports

CONSOLIDATED LITHIUM METALS AMENDS PREVIOUSLY ANNOUNCED FINANCING AND EXTENDS EXCLUSIVITY PERIOD OF LETTER OF INTENT WITH SOQUEM

Consolidated Lithium Metals Inc., further to its news release dated Oct. 22, 2025, intends to complete a non-brokered private placement and amends the terms of the offering to a sale of up to 66,666,666 units of the company at the previously announced price of six cents per unit for gross proceeds to the company of up to $4-million. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of 10 cents per common share and the company amends the exercise period to 36 months commencing on the date that is 60 days after the closing date. It is anticipated that the closing of the offering will occur on or about Nov. 7, 2025.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the units will be offered for sale to purchasers resident in Canada, except Quebec, pursuant to one or more of the following exemptions from the prospectus requirement under NI 45-106: (i) the listed issuer financing exemption under Part 5A of NI 45-106, as modified by and in reliance on the exemptions set out in Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption; and (ii) other available exemptions under NI 45-106.

Finders' fees may be paid to eligible finders in accordance with the policies of the TSX Venture Exchange, consisting of a cash commission equal to up to 8 per cent of the gross proceeds raised under the offering and finders' warrants in an amount equal to up to 8 per cent of the number of units sold pursuant to the offering. Each finder's warrant will entitle the holder thereof to purchase one common share of the company at a price of 10 cents per common share for a period of 36 months. The company intends to use the net proceeds from the offering to advance exploration activity of the company's lithium properties in Quebec, and for working capital and general corporate purposes.

Completion of the offering is subject to regulatory approvals, including the TSX-V.

While details have yet to be finalized, senior management of the company and certain members of the company's board of directors, including Richard Quesnel, Brett Lynch and Rene Bharti, may participate in the offering. Insider participation, if any, will be considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Additional information will follow in a subsequent news release once details of the insider participation, if any, have been confirmed.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and at the company's website. Prospective investors should read this offering document before making an investment decision.

Extension of exclusivity period of letter of intent with SOQUEM INC.

Further to its news release dated Aug. 27, 2025, the company has extended the exclusivity period of the non-binding letter of intent (LOI) with SOQUEM, a wholly owned subsidiary of Investissement Quebec, to Nov. 14, 2025. Pursuant to the LOI (subject to completion of several conditions precedent, including the negotiation and execution of a definitive agreement respecting the proposed transaction), the company may acquire an option to earn up to an 80-per-cent interest in the Kwyjibo rare earth project, located 125 kilometres northeast of the city of Sept-Iles, in the Cote-Nord region of Quebec. For further details on the LOI, please refer to the company's news release dated Aug. 27, 2025, a copy of which is available under the company's SEDAR+ profile.

U.S. offering and no U.S. registration

The company may also offer the units for sale pursuant to exemptions from the prospectus requirement under Ontario Securities Commission Rule 72-503, Distributions Outside of Canada in the United States, pursuant to available exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in certain other jurisdictions outside of Canada and the U.S., provided it is understood that no prospectus filing or comparable obligation, continuing reporting requirement, or requisite regulatory or governmental approval arises in such other jurisdictions.

About Consolidated Lithium Metals Inc.

Consolidated Lithium Metals is a Canadian junior mining exploration company trading under the symbol CLM on the TSX Venture Exchange and Z36 on the Frankfurt Stock Exchange. The company is focused on the exploration and development of critical mineral projects in stable jurisdictions. The company is committed to supporting the energy transition through the responsible development of critical mineral supply chains.

We seek Safe Harbor.