Mr. Richard Quesnel reports

CONSOLIDATED LITHIUM METALS ANNOUNCES FIRST TRANCHE CLOSING OF PRIVATE PLACEMENT FINANCING

Consolidated Lithium Metals Inc. has closed the first tranche of its previously announced non-brokered offering of securities of the company. The company obtained aggregate gross proceeds of approximately $7,885,000 by issuing securities in a combination of:

• 27.5 million units of the company that were issued pursuant to the listed issuer financing exemption (as defined herein) and other available exemptions from Canadian prospectus requirements at a price of eight cents per LIFE unit for an aggregate of $2.2-million in gross proceeds; each LIFE unit consists of one common share of the company and one-half of one common share purchase warrant;
• 23,437,502 flow-through shares of the company at a price of 9.6 cents per critical FT share for an aggregate of $2.25-million in gross proceeds; each critical FT share consists of one common share that will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada); and
• 28,625,000 flow-through units of the company that were issued as part of a charity arrangement at a price of 12 cents per charity FT unit pursuant to the listed issuer financing exemption, for an aggregate of $3,435,000 in gross proceeds; each charity FT unit consists of one common share and one-half of one warrant that will each qualify as a flow-through share within the meaning of Subsection 66(15) of the tax act.

Each warrant entitles the holder thereof to purchase one common share at an exercise price of 12 cents until March 17, 2029. Warrants sold pursuant to the listed issuer financing exemption are not exercisable until May 16, 2026.

Richard Quesnel, Consolidated Lithium's chief executive officer, commented: "We are very pleased to have successfully closed the first tranche of our financing, which represents an important milestone for the company and a strong vote of confidence from our investors. We look forward to completing the second tranche, which we currently expect to close on or about April 7, 2026, and to deploying the capital to advance our exploration, development and business plans."

Certain of the LIFE units and the charity FT units distributed in connection with the offering were issued and sold pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) and the Coordinated Blanket Order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). LIFE units, critical FT shares and charity FT units were also issued and sold pursuant to other exemptions from the prospectus requirements available under NI 45-106 and Ontario Securities Commission Rule 72-503 (Distributions Outside of Canada).

Offered securities that were issued under the listed issuer financing exemption and OSC Rule 72-503 are not subject to a hold period pursuant to applicable Canadian securities laws. The 23,437,502 critical FT shares issued pursuant to Canadian prospectus exemptions under NI 45-106 (other than the listed issuer financing exemption or OSC Rule 72-503) are subject to a statutory four-month hold period ending July 18, 2026, pursuant to applicable Canadian securities laws.

In connection with the offering, certain purchasers of charity FT units subsequently: (i) donated some or all of such charity FT units to registered charities; and/or (ii) sold some or all of such charity FT units to purchasers arranged by a finder (such charity FT units described in (i) and (ii), being the reoffer units). Sales of reoffer units were made to purchasers located in Canada pursuant to the listed issuer financing exemption and outside of Canada pursuant to OSC Rule 72-503.

The company paid an aggregate of approximately $630,800 and issued a total of 6,365,000 non-transferable finder warrants as finders' fees to certain persons which assisted the company in connection with the first tranche of the offering, including Integrity Capital Group Inc., iA Capital Markets, BT Global Growth Inc., Research Capital Corp., PB Markets Inc. and Independent Trading Group. Two million two hundred thousand of the finder warrants were issued at an exercise price equal to eight cents per finder warrant for finder warrants issued due to sales of LIFE units, 1,875,000 of the finder warrants were issued at 9.6 cents per finder warrant for finder warrants issued due to sales of critical FT shares and 2.29 million of the finder warrants were issued at 12 cents per finder warrant for finder warrants issued due to sales of charity FT units. Each finder warrant entitles the holder thereof to purchase one common share and one-half of one warrant. The finder warrants and common shares and warrants issuable upon exercise of the finder warrants are subject to a statutory four-month hold period ending July 18, 2026, pursuant to applicable Canadian securities laws.

The company intends to use the gross proceeds from the issuances of critical FT shares and charity FT units for exploration expenses and critical mineral mining expenditures on the Kwyjibo rare earth project, as detailed in the company's press release dated Nov. 18, 2025, and its lithium properties. The company intends to use the net proceeds from the issuances of the LIFE units for working capital and general corporate purposes.

The offering remains subject to the final acceptance of the TSX Venture Exchange.

About Consolidated Lithium Metals Inc.

Consolidated Lithium is a Canadian junior mining exploration company trading under the symbol CLM on the TSX Venture Exchange, Z36 on the Frankfurt Stock Exchange and JORFF on the OTCQB Venture Market. 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.