Critical Elements Lithium Announces the Continued Strengthening of its Board of Directors with Two New Appointments - Seite 2

In connection with their appointments, Ms. Habelrih and Ms. Laplante have each been awarded 200,000 stock options of the Corporation at an exercise price of $1.35 per share for a term of five years.

Eric Zaunscherb, Chair of the Board of Critical Elements commented: "It is a pleasure to welcome Maysa and Vanessa to our board. Once we receive our Certificate of Authorization from the Province of Quebec, we will be well-positioned to finance and advance the high-purity Rose lithium-tantalum project into production. This quality Board of Directors now has the requisite skill set to support management at this intense and exciting time, for the benefit of the Corporation's stakeholders."

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 project in Québec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. On June 13^th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B 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 93% 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; The Corporation is working to obtain similar approval under the Québec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

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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