Champion Electric Metals Inc. is providing an update on its ongoing exploration work at its James Bay lithium property (the "Property") in Quebec. While fieldwork is still underway and data is continuously being collated, three high-priority prospects have already emerged as being likely hosts of a lithium caesium tantalum (LCT) type pegmatite system, including a new target on the southeast side of the Property near the neighbouring Patriot Battery Metals' Corvette lithium deposit. Detailed follow-up work over these three newly identified targets is the priority of the concluding field mapping season.

Applications for drilling permits over these targets have been submitted in anticipation of confirmatory results from the sampling program. Field activities recommenced on August 3, 2023, as soon as the team could safely return to the project after the wildfires in the region were under control. In addition to the light detection and ranging (LiDAR) and high-resolution aerial photography survey being completed, the team undertook a first-pass project-wide mapping and sampling campaign, including in-field X-ray fluorescence (XRF) analysis, targeted rock saw sampling, and till geochemical sampling.

As of this update, the Champion Electric team has collected 678 rock samples for laboratory analysis, of which 670 have been classified as pegmatites or rocks having pegmatitic texture. Geological Mapping and Rock Sampling. Over the last two months, a mixed team of geologists and technicians of up to 12 people led by Dr. Eric Hebert, P.Geo., a member of the Ordre des Geologues du Quebec (OGQ), visited and documented dozens of areas of outcrop.

The work was supported by helicopter and 4x4 trucks where road access permitted. Geologists and technicians collected rock samples were from outcrops using a rock hammer and chisel, and in selected areas with the use of a rock saw. The rock samples are typically fist-sized and intended to be representative of the overall outcrop.

Certified standards and blanks were systematically inserted into the sample stream as a check on laboratory Quality Control (QC). Blind field duplicate samples were also taken, bagged and labeled separately. The samples were stored in the Company's secure camp and custody maintained until authorized contractors delivered the samples to Activation Laboratories (Actlabs) in Val d'Or.

The Company has selected a total geochemical analysis for a suite of elements utilizing sodium peroxide fusion and inductively coupled plasma emission spectrometry (ICP-ES) and mass spectrometry (IC P-MS). Actlabs' Quality System is registered to international quality standards through the International Organization for Standardization /International Electrotechnical Commission (ISO/IEC) 17025:2017 (including ISO 9001:2015 and ISO 9002 specifications). Qualified Person.

Dr. Eric Hebert, p.Geo., Senior Geological consultant, is a member (#0842) of the Ordre des Geologicues du Quebec (OGQ) and a qualified person within the meaning of National Instrument 43-101, and has reviewed and approved the technical information contained in this press release.