Critical Elements Lithium Orders First Long Lead Equipment for the Rose Lithium-Tantalum Project

MONTRÉAL, QC / ACCESSWIRE / October 12, 2023 / Critical Elements Lithium Corporation (TSX-V:CRE)(US OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce that it has ordered the equipment with the longest lead time to manufacture, namely transformers (315 kV to 25kV) for the main power station of the Rose Lithium-Tantalum project (the "Project"). The order was concluded with one of the leaders in the design and construction of industrial transformers, the Italian company Tamini Trasformatori Srl.

In order to meet the electrical energy needs of the Project, the Corporation will install two electrical transformers with a ventilation stage during the construction period. The two transformers will operate simultaneously to supply the site and the operating processing plant. A single transformer will be able to support all loads in the event of failure of one of the two transformers.

In addition, in order to reduce greenhouse gases and reduce the use of diesel generators, the sub-station will be able to support electrical energy at the end of the construction period with only one transformer.

Jean-Sébastien Lavallée, Chief Executive Officer of the Corporation, stated: "Today's news represents another action to reduce the risks associated with the Project schedule. This is another step towards the development of the Rose Lithium-Tantalum Project. With every step completed, management's confidence increases in achieving the Corporation's goal to make a final investment decision, commence construction, and achieve initial production in 2026."

Critical Elements' Rose Lithium-Tantalum project is one of the most advanced hard rock lithium projects in North America, having achieved key milestones including:

• The Pikhuutaau Agreement, an impact and benefits agreement for the development and operation of the Rose Lithium-Tantalum project, signed with the Cree Nation of Eastmain, the Grand Council of the Crees (Eeyou Istchee) and the Cree Nation Government in July 2019;
• A favorable decision statement from the federal Minister of the Environment and Climate Change, issued in August 2021 following the thorough environmental assessment conducted by the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government;
• The approval by the Québec Minister of Natural Resources and Forests of the rehabilitation and restoration plan concerning the Rose Lithium-Tantalum project, in May 2022;
• The receipt of the Certificate of Authorization under Section 164 of Québec's Environment Quality Act, in November 2022, following the environmental and social impact assessment and review procedure under the responsibility of the Environmental and Social Impact Review Committee (COMEX);
• The receipt of the Rose Lithium-Tantalum project mining lease in September 2023 from the Québec Minister of Natural Resources and Forests. The mining lease is granted under the Québec Mining Act and gives the holder the right to mine mineral substances for the Rose Lithium-Tantalum project. The mining lease is granted for a period of 20 years.

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