Mr. Jean-Sebastien Lavallee reports

CRITICAL ELEMENTS LITHIUM INTERCEPTS 1.04% LI2O OVER 33.85 METERS IN DRILLING AT LEMARE

Critical Elements Lithium Corp. has released results from the winter drill program completed on the Lemare project in the James Bay region, Eeyou Istchee, Quebec. During winter 2023, the corporation completed a 5,554-metre drill program, encompassing 31 drill holes to test the known lithium-bearing zone on the east-west extension, as well as at depth. The best intercepts are presented in an attached table.

Selected drill intersection highlights include:

• LE-23-32 -- 1.04 per cent lithium oxide and 67.91 parts per million tantalum pentoxide over 33.85 metres, including:
  • 1.42 per cent Li2O and 74.24 ppm Ta2O5 over 18.8 m.
• LE-23-33 -- 0.88 per cent Li2O and 113.92 ppm Ta2O5 over 12.90 m;
• LE-23-35 -- 1.63 per cent Li2O and 104.30 ppm Ta2O5 over 5.25 m;
• LE-23-44 -- 1.51 per cent Li2O and 54.15 ppm Ta2O5 over 4.95 m;
• LE-23-48 -- 0.89 per cent Li2O and 48.89 ppm Ta2O5 over 7.10 m;
• LE-23-49 -- 0.97 per cent Li2O and 64.43 ppm Ta2O5 over 8.85 m, including:
  • 1.59 per cent Li2O and 61.34 ppm Ta2O5 over 2.40 m.

Critical Elements controls one of the largest hardrock lithium exploration land positions in North America, totalling 1,050 square kilometres, specifically assembled for its geological setting and proximity to roads and Quebec's 100-per-cent-renewable energy grid. For example, its land position includes the corporation's advanced Rose lithium-tantalum project and covers the extrapolated northeast and southwest structural extensions of the Nemaska belt, which hosts the Whabouchi mine being developed by Nemaska Lithium.

Critical Elements has outlined its exploration plans in several news releases, most recently on Feb. 1, May 16 and May 31. In addition to demonstrating the value inherent in the corporation's exploration land package, there are three goals:

1. Extend the life of the primary Rose project;
2. Advance the Lemare project toward an initial resource estimate and technical studies if warranted;
3. Demonstrate the potential of new targets highlighted via machine learning, or artificial intelligence.

The winter 2023 drilling program on the Lemare spodumene project confirmed the 400-metre extension to the southwest and the 500-metre extension to the northeast of the main known spodumene-bearing pegmatite with variable width and spodumene content. At least two different types of subparallel pegmatites were intersected by the drilling. The main spodumene-bearing pegmatite features coarse quartz-feldspar-muscovite, while the second pegmatite is aphanitic quartzo-feldspathic, generally lower grade and only sporadically mineralized. The main spodumene-bearing pegmatite is controlled by a northeast-southwest structure that is recut by at least two north-south-oriented faults. The information collected during the winter drilling program will be useful to better define the three-dimensional model and better understand the pinch-and-swell character of the pegmatites at Lemare. The confirmed spodumene-prospective pegmatite strike length at Lemare now exceeds 2.2 kilometres. However, based on Goldspot Discoveries' machine-learning methodology and surface sampling results, the LCT pegmatite trend on the Lemare property has been estimated to extend for over five kilometres.

Critical Elements intends to pursue further work on Lemare over the summer with surface mapping and a sampling program, followed by incremental drilling. Lemare is well situated within three kilometres of road access and is an excellent candidate for initial technical studies. At the moment, the corporation has temporarily suspended exploration activities on the Nemaska belt projects in the Eeyou Istchee-James Bay region of Quebec, in accordance with a directive from the Ministere des Ressources Naturelles et des Forets, which has banned forest access on Crown land and closed roads to help combat forest fires across the province.

Quality assurance/quality control

Quality assurance/quality control procedures have been implemented to ensure best practices in sampling and analysis of the core samples. The drill core was logged and then split, with one-half sent for assay and the other retained in the core box as a witness sample. Duplicates, standards and blanks were regularly inserted into the sample stream. The core samples were delivered, in secure tagged bags, directly to the ALS Minerals laboratory facility in Val d'Or, Que. The samples are weighed and identified prior to sample preparation. The samples are crushed to 70 per cent passing minus two millimetres, then separated and pulverized to 85 per cent passing 75 micrometres. All samples are analyzed using sodium peroxide fusion (ME-MS-89L), with full analysis for 52 elements. Values over 25,000 parts per million lithium were reassayed using Li-ICP-82b, and values over 2,500 ppm Ta2O5 were reassayed using Ta-XRF10.

Qualified person

Paul Bonneville, Eng, is the qualified person that has reviewed and approved the technical contents of this news release on behalf of the corporation.

About Critical Elements Lithium Corp.

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric-vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high-purity Rose lithium project in Quebec, the corporation's first lithium project to be advanced within a land portfolio of over 1,050 square kilometres.

We seek Safe Harbor.