Critical Elements Reports Robust Tantalum Recoveries in Optimization Batch Testing With Up to 84% Ta2O5 Recovery Compared to 50% in Initial PEA

MONTREAL, QUEBEC--(Marketwired - Sept. 23, 2013) - Critical Elements Corporation (TSX VENTURE:CRE)(OTCQX:CRECF) (FRANKFURT:F12) is pleased to report the latest results of the optimization metallurgical program underway at SGS Canada Inc. (Lakefield) for its Rose lithium-tantalum deposit in James Bay, Quebec.

The program has resulted in significant tantalite optimization recoveries, achieving tantalum recoveries of up to 84% with a concentration grade of 11,713 g/t Ta (14,303 g/t Ta₂O₅) in laboratory batch tests using wet high intensity magnetic separation (WHIMS). The average Ta recovery rate for the program stands at 77.6% with a concentration grade of 10,700 g/t Ta (13,066 g/t Ta₂O₅) in batch magnetic separation tests (see table below).

The Corporation expects these results to dramatically increase the projected amount of tantalite (Ta₂O₅) produced from the Rose project, although additional testing is needed to confirm this with greater certainty. The initial economic numbers from the December 2011 PEA analysis were based on a tantalum recovery of 50%. The latest results indicate a 27.6% increase in average recovery compared to the PEA figures, which could potentially mean more than 100,000 additional pounds of tantalite (Ta₂O₅) produced per year. The estimated final recovery rate and quantity of tantalite to be produced will be better defined by pilot plant testing, as well as in the upcoming feasibility study.

''To the best of our knowledge, the Rose lithium-tantalum deposit is the only new economic conflict-free tantalum industrial-scale source in the world. The recent robust recoveries and high purity results from the optimization testing program prove the stand-alone class of the deposit, which has the potential to become a key source of strategic metal supply,'' said Jean-Sébastien Lavallée, President and Chief Executive Officer of Critical Elements Corporation.

Results of Batch Magnetic Separation Tests to Recover Ta Concentrate

Test No.	Assay	Assay	Distribution %
	Ta g/t	Ta2O5g/t	Ta
F10	11,713	14,303	80.3
F11	10,388