Critical Elements Lithium Summer Exploration Plans

Rhea-AI Summary

Critical Elements Lithium Corporation has completed a significant 2,701-line kilometre VTEM survey across its Nemaska Belt properties in Quebec's Eeyou Istchee region. The survey, covering their 1,050 square kilometre portfolio, aims to identify conductors potentially indicating high-grade Nickel-Copper-PGE mineralization. The company plans to launch a surface exploration program from late May through August 2025, focusing on both Nickel-Copper-PGE and lithium-bearing spodumene targets. Critical Elements is also progressing with funding arrangements for its Rose Lithium-Tantalum project, building on $20 million conditional funding from Natural Resources Canada and a support letter for up to US$115 million in project debt from a Canadian financial institution.

Positive

• Secured $20 million conditional funding from Natural Resources Canada's Critical Minerals Infrastructure Fund
• Received support letter for up to US$115 million in project debt financing from a Canadian financial institution
• Completed comprehensive 2,701-line kilometre VTEM survey across extensive 1,050 square kilometre portfolio

Negative

• None.

MONTRÉAL, QC / ACCESS Newswire / May 12, 2025 / Critical Elements Lithium Corporation (TSX-V:CRE)(US OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce the recommencement of active exploration on its highly prospective, 1,050 square kilometre land portfolio, including the 100% owned Nemaska Belt properties.

An important helicopter-borne electromagnetic VTEM plus time-domain system ("VTEM") survey covering the Nemaska Belt group of properties in the Eeyou Istchee region of Québec has been completed (Figure 1). The 2,701-line kilometre VTEM survey executed by Geotech Airborne Geophysical Survey covers the entirety of Critical Elements' 100%-owned Nemaska Belt properties with flight lines at a 200-metre spacing. The objective of the survey was to identify conductors that could correlate with high-grade Nickel-Copper-PGE mineralization and define high-priority drill targets.

Figure 1: VTEM survey map Nemaska Belt properties

The Corporation plans to begin a surface exploration program on the Nemaska Belt portion of the portfolio and the Rose blocks at the end of May and intends to pursue a prospecting, mapping, and sampling program until late August. Dahrouge Geological Consulting Ltd. ("Dahrouge") has been mandated to perform the summer exploration program targeting potentially economic mineralization including high-grade Nickel-Copper-PGE as well as lithium-bearing spodumene.

Management continues to be engaged in assembling the funding required to make a final investment decision on the Corporation's flagship Rose Lithium-Tantalum project. These efforts build on the $20 million conditional funding from Natural Resources Canada's Critical Minerals Infrastructure Fund (see press release dated February 6, 2025) and the support letter from a leading Canadian financial institution stating its interest in providing long term debt financing of up to US$115 million (approximately C$150 million) of project debt (see press release dated February 10, 2025).

Qualified Person

François Gagnon, P. Geo, Operations Director - Québec for Dahrouge Geological Consulting Ltd., is the Qualified Person who has reviewed and approved the technical content of this press release on behalf of the Corporation.

About Critical Elements Lithium Corporation

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 Québec, the Corporation's first lithium project to be advanced within a land portfolio of over 1,050 km². On August 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%, with an estimated after-tax net present value of US$2.2B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 94% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government, received the Certificate of Authorization pursuant to section 164 of Québec's Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks, and the project mining lease from the Québec Minister of Natural Resources and Forests under the Québec Mining Act.

For further information, please contact:

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement concerning forward-looking statements

This news release contains "forward-looking information" within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information contained herein include, without limitation, statements relating to the results and completion of the 2025 exploration program and its related objectives, securing a strategic partnership and project financing leading to a Final Investment Decision. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: final and complete results of the Corporation's 2025 exploration program and effects on the Corporation's stated objectives, as well as those risk factors set out in the Corporation's Management Discussion and Analysis for its most recent quarter ended February 28, 2025 and other disclosure documents available under the Corporation's SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

Forward-looking information contained herein is made as of the date of this news release. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

SOURCE: Critical Elements Lithium Corp.

View the original press release on ACCESS Newswire

FAQ

What is the size of Critical Elements Lithium's (CRECF) land portfolio in Quebec?

Critical Elements Lithium owns a 1,050 square kilometre land portfolio, including the Nemaska Belt properties in Quebec's Eeyou Istchee region.

How much funding has Critical Elements Lithium (CRECF) secured for its Rose Lithium-Tantalum project?

Critical Elements has secured $20 million conditional funding from Natural Resources Canada and a support letter for up to US$115 million in project debt from a Canadian financial institution.

What exploration activities is Critical Elements Lithium (CRECF) planning for summer 2025?

The company plans to conduct surface exploration, including prospecting, mapping, and sampling from late May through August 2025, focusing on Nickel-Copper-PGE and lithium-bearing spodumene targets.

What was the purpose of CRECF's VTEM survey at the Nemaska Belt properties?

The VTEM survey was conducted to identify conductors that could indicate high-grade Nickel-Copper-PGE mineralization and define high-priority drill targets.