Mr. Jean-Sebastien Lavallee reports

CRITICAL ELEMENTS LITHIUM COMPLETES DRILL PROGRAM AT ROSE WEST DISCOVERY AND INTERCEPTS MULTIPLE, WIDE SPODUMENE-RICH PEGMATITES

Critical Elements Lithium Corp. has completed a 31-hole, 3,670-metre drill program on its 100-per-cent-owned Rose West discovery with multiple spodumene-rich pegmatites intersected.

The Rose West discovery is situated within the Rose and Rose South property blocks, which constitute 395 square kilometres, or only 38 per cent of the total 1,050 square km in the corporation's highly prospective exploration portfolio in Quebec.

The 2024 winter drill campaign successfully completed 3,670 metres of drilling in 31 holes on the spodumene-bearing pegmatite showings discovered during the 2023 summer prospection campaign, herein referred to as Rose West. Drilling results demonstrated the continuity of a mineralized pegmatite body thus far over 450 m strike, 370 m down dip and to a vertical depth of 140 m. In the west, the body comprises multiple near-surface mineralized pegmatites that range up to an apparent thickness of 12.4 m individually. These bodies appear to coalesce into a more substantial spodumene-bearing pegmatite in the east with an apparent width of up to 40.4 m. The near-surface pegmatites appear to strike northwesterly with a gentle dip of 15 degrees, while the thicker pegmatite appears to strike easterly with a near-horizontal dip of 13 degrees. The body is still open in all directions, while the greatest exploration potential appears to be to the east.

Initial assay results from the drill program have been received for the first two holes, RD-24-01 and RD-24-02. Both drill holes returned high-grade results with 1.61 per cent Li2O (lithium oxide) and 135 parts per million Ta2O5 (tantalum pentoxide) over 6.9 m, including 2.17 per cent Li2O over 4.3 m in hole RD-24-01, and 1 per cent Li2O and 285 ppm Ta2O5 over 8.65 m, including 1.34 per cent Li2O and 376 ppm Ta2O5 over 4.4 m in hole RD-24-02. In addition to these early intersections of lithium-rich pegmatites, the program also discovered a different style of mineralization associated with an aplite dike with high-grade tantalum values, including 571 ppm Ta2O5 over 1.1 m.

Jean-Sebastien Lavallee, chief executive officer of the corporation, stated: "Drill confirmation of high-grade lithium mineralization at Rose West is the beginning of an important new chapter for Critical Elements. While management is focused on delivery of a project financing package for the Rose project that minimizes shareholder dilution, the resumption of drilling on the corporation's extensive land position should begin to crystalize that position's value for shareholders. Additional drilling on multiple promising targets identified on Critical Elements' large, prospective land position could also yield economically valuable mineralization later this year."

Quality assurance/quality control

Quality assurance and quality control procedures have been implemented to ensure best practices in sampling and analysis of the drill core samples. Standards, duplicate and blanks were regularly inserted into the sample stream. The drill core samples were delivered in secure tagged bags 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 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. Value over 25,000 ppm Li were reassays using Li-ICP-82b and value over 2,500 ppm Ta2O5 were reassays using Ta-XRF10.

Qualified person

Sebastien Perreault, PEng, 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-tantalum project in Quebec, the corporation's first lithium project to be advanced within a land portfolio of over 1,050 square km. On Aug. 29, 2023, the corporation announced results of a new feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the project is estimated at 65.7 per cent, with an estimated after-tax net present value of $2.2-billion (U.S.) at an 8-per-cent discount rate. In the corporation's view, Quebec is strategically well positioned for U.S. and European Union markets and boasts good infrastructure, including a low-cost, low-carbon power grid featuring 94-per-cent hydroelectricity. The project has received approval from the federal Minister of Environment and Climate Change on the recommendation of the joint assessment committee, comprising representatives from the Impact Assessment Agency of Canada and the Cree Nation government, received the certificate of authorization pursuant to Section 164 of Quebec's Environment Quality Act from the Quebec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks, and the project mining lease from the Quebec Minister of Natural Resources and Forests under the Quebec Mining Act.

We seek Safe Harbor.