Significant Progress for the Rose Lithium-Tantalum Project in Quebec

Critical Elements Lithium Corporation has announced the acquisition of three key industrial occupation leases crucial for the implementation of its Rose Lithium-Tantalum project in Eeyou Istchee, Quebec. Granted by the Quebec Ministry of Natural Resources and Forestry, these leases, renewable annually, mark a crucial step towards the development of this strategic extraction project.

Following the acquisition of a mining lease in September 2023, this new development reaffirms the steady progress of the Rose project towards a final investment decision by securing the necessary occupancy rights for future mining operations. Although the lithium equity market is currently unfavorable, Critical Elements' management maintains confidence in the quality of the Rose project and in the growth potential of the global demand for high-quality lithium.

The Rose project aims to position Critical Elements as a significant and responsible supplier of lithium for the emerging electric vehicle and energy storage industries. With a recent feasibility study projecting an after-tax internal rate of return of 65.7% and a current net present value of $2.2 billion USD, the project benefits from environmental and regulatory support, as well as the strategic appeal of Quebec for the American and European markets due to its low-carbon infrastructure and electrical network.