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Critical Elements Lithium Corporation (TSX-V:CRE)(US OTCQX:CRECF)(FSE:F12) has announced the filing of a National Instrument 43-101 (NI 43-101) compliant technical report. This report represents the qualifying report for the recently-announced Feasibility Study at the Rose Lithium-Tantalum Project in James Bay, Québec.

Highlights of the Feasibility Study

• Expected 17-year mine life
• Average production Year 2-17: 157,706 tonnes of chemical grade 5.56% spodumene concentrate
• Average production Year 2-17: 46,059 tonnes of technical grade 6.16% spodumene concentrate
• Average production Year 2-17: 580 tonnes of tantalum concentrate
• Average operating costs: US$81,30 per tonne milled, US$587 per tonne of concentrate (all concentrate production combined)
• Estimated initial capital cost: US$471 million (before working capital)
• Average gross margin: 78.8%
• After-tax NPV8% of US$2,195 million, after-tax IRR of 65.7%
• Anticipated construction time: 21 months to start of production
• Average price assumptions of US$4,699 per tonne technical grade lithium concentrate, US$2,162 per tonne chemical grade lithium concentrate and US$150 per kg tantalum pentoxide (Ta2O5)

Critical Elements’ Aspirations

Critical Elements aims to become a large, responsible supplier of lithium to the growing electric vehicle and energy storage system industries. The Rose Lithium-Tantalum project in Québec is the Corporation’s first lithium project to be advanced within a land portfolio of over 1,050 km. The Project has received approval from various environmental and governmental bodies.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian Securities legislation. Forward-looking information includes statements relating to the completion of the 2023 exploration program, the provincial permitting process, and the preparation of the front-end engineering design work for the process plant and related infrastructure.

Company Website: https://www.cecorp.ca

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