Critical Elements Lithium Obtains Transport Canada Dewatering Exemption Necessary for The Development of The Rose Lithium-Tantalum Project - Seite 2

Jean-Sébastien Lavallée, Corporation's CEO commented: "This is a step further towards the development of the Rose Lithium-Tantalum Project which allows us to continue planning for the work coming ahead. I am confident that the mitigation measures we have elaborated and which have been accepted will allow us to minimize the impact of our activities on the environment and on local communities and particularly the Cree Nation of Eastmain."

More details on the Order and location of the 28 navigable waters subject to the exemption can be found in the Canada Gazette available online at https://www.gazette.gc.ca/rp-pr/p2/2023/2023-10-25/html/sor-dors213-en ....

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:

Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
[e-mail]
www.cecorp.ca

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
[e-mail]
www.cecorp.ca

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SOURCE: Critical Elements Lithium Corporation

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The Critical Elements Lithium Corporation Stock at the time of publication of the news with a raise of +3,95 % to 1,026CAD on Tradegate stock exchange (27. Oktober 2023, 22:26 Uhr).