Critical Elements Corporation

Further High-Grade Lithium at Lemare

MONTREAL, QUEBEC--(Marketwired - Aug. 3, 2016) -

• Up to 3.34% Li2O from Lemare spodumene pegmatite
• Latest grades average 1.73% Li2O
• Project contains an undrilled spodumene pegmatite at least 200 m long and grading up to 12 m @ 1.96% Li2O, as defined by surface channel sampling
• Drilling permit expected imminently
• Field camp permit in place, and awaiting drill rig

Critical Elements Corporation ("Critical Elements" or the "Company") (TSX VENTURE:CRE)(OTCQX:CRECF)(FRANKFURT:F12) and Platypus Minerals Ltd (ASX:PLP) ("Platypus") advise that preparations for field work at Lemare are progressing, with the granting of a permit to establish a field camp.

A drilling permit is expected imminently, with the arrival of a diamond drilling rig due by mid-August.

The Lemare lithium project is located in the James Bay region of Quebec, Canada (Figure 1). The project is secured by an option agreement ("Lemare Option") entered into by Platypus wholly owned subsidiary Lepidico Ltd ("Lepidico") and the owner of Lemare, Critical Elements on February 11, 2016. Full details were reported to the market on February 11, 2016.

To view Figure 1. Location of Lemare lithium project in Quebec, Canada: http://media3.marketwire.com/docs/1064684_1.pdf

During site investigations for a suitable field camp, an additional six grab samples were collected from an outcropping portion of the Lemare spodumene pegmatite (Figures 2 and 3). Results confirm robust lithium grades at Lemare, with up to 3.34% Li2O recorded. The average across the six samples is 1.73% Li2O (Table 1).

As previously reported, in summary, the Lemare project covers approximately 70 km² of tenure in a proven lithium district that hosts several advanced lithium deposits in the vicinity. Lemare is located only 25 km east-northeast of the Whabouchi deposit, held by Nemaska Lithium, within a similar geological setting, namely, on the margin of a belt of metamorphosed greenstones fringing a zone of granulite and migmatite rocks (Figure 4).

The project contains an undrilled spodumene pegmatite discovered in 2012 at least 200 m long and grading up to 12 m @ 1.96% Li2O, including 6 m @ 2.68% Li2O, as defined by surface channel sampling.

Table 1. Lemare spodumene pegmatite grab sampling¹ July 2016

Sample ID	Northing (m)	Easting (m)	Li2O (%)
I669460	471639	5734456	0.24%
I669461	471639	5734456	1.02
I669462	471670	5734472	0.82
I669463	471670	5734472	3.34
I669464	471693	5734488	1.80
I669465	471752	5734509	3.19
	Average		1.73

1 Grab samples are selective by nature and are unlikely to represent the average grade of the deposit.

To view Figure 2. Outcropping Lemare pegmatite: http://media3.marketwire.com/docs/1064684_2.pdf