Critical Elements Receives Amended Certificate of Authorization for the Rose Lithium-Tantalum Project in Quebec

MONTRÉAL, QC / ACCESSWIRE / August 14, 2024 / Critical Elements Lithium Corporation (the "Corporation" or "Critical Elements") (TSX.V:CRE)(US OTCQX:CRECF)(FSE:F12) is pleased to announce that it has received the amended certificate of authorization ("CA") for the Rose Lithium-Tantalum project ("Rose" or the "Project") from the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs du Québec. The amendments to the original CA issued on October 31, 2022, include the addition of the following points:

- The construction and development of the permanent workers' camp with a capacity of 250 people;

- The temporary provision of an additional 250 people at the camp during the construction phase;

- The use of two (2) borrow Pit.

This will allow for the Project to submit its Construction permit applications for the Early Earth Works and the Workers' Camp.

The Corporation is also pleased to provide a Project and activities update. While global Electric Vehicle and Energy Storage System sales have continued to grow to record levels, the overall lithium market sentiment and media coverage remains negative as seen through the material share price and valuation challenges experienced by producers through to developers and explorers since April 2022. Critical Elements has not been immune to this correction phase.

Critical Elements management and board of directors continue work in preparation for the completion of a financing package for the Project that allows for a final investment decision while maintaining an attractive capital structure and mitigating risk. Critical Elements is working to arrange a comprehensive financing package to fully fund the development of Rose. Shareholders will be updated as the financing package progress and timelines will be updated as the project financing package is assembled.

The Corporation recognizes the intricacy of these negotiations and due diligence required. At this time, there can be no guarantees as to the timing and outcome of this process. Management is committed to securing an optimal outcome for Rose's development and appreciates the continued support and patience of its investors as the Corporation works to secure the required capital in its stated objective to become a significant and responsible supplier of high-quality lithium to the global supply chain.