Critical Elements Lithium Corporation progresses in the Rose project with the acquisition of three leases

Critical Elements Lithium Corporation has announced the acquisition of three leases for industrial purposes and for a mining residue storage area. These leases, crucial for the development of the lithium-tantalum Rose project, were granted by the Quebec Ministry of Natural Resources and Forestry. Valid from February 1, 2024, these leases are renewed annually, contributing to the advancement of the project in the Eeyou Istchee region, Quebec.

The realization of these leases adds to the acquisition of the mining lease in September 2023, marking a crucial step towards the future operation of the Rose project. Critical Elements' management remains optimistic despite the current challenges in the sector, emphasizing Quebec's strategic position in the battery supply chain ecosystem and the expected growth in demand for high-quality lithium. The company aims to become a major supplier for the electric vehicle and energy storage system markets.

Supported by a recent feasibility study, the project shows an after-tax internal rate of return of 65.7%, with a net present value of USD 2.2 billion. The Rose Project has also received several environmental and regulatory approvals, underlining the company's commitment to sustainable development and cooperation with local communities and the government.