CRITICAL ELEMENTS LITHIUM (CRECF) Stock News, Oct 2020-Jun 2021

Critical Elements Lithium Corporation has announced the retention of Metso Outotec and WSP to conduct a Phase II engineering study for a lithium hydroxide monohydrate chemical plant. This plant aims to produce approximately 27,000 tonnes per annum of battery-grade lithium hydroxide. Metso Outotec will design the calcination and chemical processes, while WSP will oversee infrastructure design. Previous pilot studies have shown extraction rates of up to 93%, exceeding industry standards. This project builds on a robust financial background from Phase I, demonstrating a 34.9% after-tax internal rate of return.

Critical Elements Lithium Corporation (CRECF) has achieved UL 2723 ECOLOGO® Certification for Mineral Exploration, marking a significant milestone in its commitment to responsible mineral resource development. The certification, completed on May 25, 2021, enhances the company’s operational credibility and stakeholder relationships. This certification is expected to promote better work environments and improve project completion times. Chairman Eric Zaunscherb emphasized that this is an essential step towards obtaining environmental authorizations and advancing the Rose Lithium-Tantalum Project.

Critical Elements Lithium Corporation has appointed Andrew Baribeau as an advisor focused on communications with Cree communities. His role will involve executing the Pikhuutaau Agreement signed in July 2019. Baribeau brings 25 years of expertise in community and territorial development, enhancing the company's commitment to respectful operations in Cree territory. The company anticipates receiving permits for Phase I of its Rose Lithium-Tantalum Project, with a robust feasibility study indicating a 34.9% IRR and a NPV of C$726 million.

Critical Elements Lithium Corporation has entered into an option agreement with Lomiko Metals regarding the Bourier project, allowing Lomiko to acquire up to a 70% interest. This agreement is driven by increased consumer interest in electric vehicles and the demand for lithium and graphite, key components of lithium-ion batteries. The Bourier project covers 10,252.20 hectares and is located in a lithium-rich area of Quebec. Lomiko can earn its interest through share issuance, cash payments, and exploration expenditures. The agreement is subject to TSX Venture Exchange approval.

Critical Elements Lithium Corporation has announced the release of a draft report by the Joint Assessment Committee regarding the Rose Lithium Tantalum Project. The Committee concludes that the Project is unlikely to cause significant adverse environmental effects with the implementation of mitigation measures. This finding brings the Company closer to final authorization. Public comments on the draft report are invited until April 16, 2021. The Project is targeted to become a major lithium supplier, with a robust feasibility study indicating a 34.9% internal rate of return and a net present value of C$726 million.

Critical Elements Lithium Corporation has provided an update on the Rose Lithium Tantalum Project. The company is expanding its exploration over 700 square kilometers in Quebec and has completed public hearings for provincial permitting. A high-resolution heliborne magnetic survey will identify new lithium targets and is expected to conclude by the end of March. Although the federal environmental assessment is delayed due to COVID-19, Critical Elements remains optimistic about its project, which aims to become a significant lithium supplier for electric vehicles and energy storage.

Critical Elements Lithium Corporation (TSXV:CRE)(OTCQX:CRECF) has acquired 12,051,770 shares of Chilean Metals Inc., representing approximately 19.6% of the Issuer's total outstanding shares. This acquisition is part of an option agreement established in December 2020. Prior to this transaction, Critical Elements did not hold any shares in Chilean Metals. The company may consider acquiring more securities or selling its current holdings in the future. The transaction has been reported under Canadian securities legislation's early warning provisions.

Critical Elements Lithium Corporation has successfully completed a bought deal private placement, raising $15 million through the issuance of 13,636,400 units at $1.10 each. Each unit consists of one common share and a half warrant, with the warrants allowing purchase of additional shares at $1.75 for two years. Insiders subscribed for 50,000 units, totaling $55,000. The funds will be used for exploration, development, and working capital, subject to TSX Venture Exchange approval. The offering includes compensation for underwriters totaling 6% of gross proceeds.

Critical Elements has provided a corporate update on its Rose Lithium-Tantalum Project, emphasizing its potential as a key global player in lithium supply. Highlights include a successful lithium extraction process with a 93% recovery rate and strong demand forecasts for lithium hydroxide. The company has submitted the necessary information to provincial authorities for environmental impact assessments. Furthermore, the European Commission's strategy calls for critical mineral suppliers like Canada. The average annual production capacity is targeted at 236,532 tons of spodumene concentrate.