Champion Electric Metals Inc. has initiated a gravity survey to pinpoint the pegmatite source rock of the spodumene (a primary lithium-bearing mineral) boulder and hundreds of spodumene rock fragments found in the till sampling from the Company's initial regional exploration at the western part of its more than 500 km2 James Bay lithium property in Eeyou Istchee, Quebec. The pristine nature of the spodumene boulder and the delicate crystal fragments discovered in shallow till sampling suggests that they did not travel great distances from their source. The western end of the Property abuts Winsome Resources' property, on which a large lithium resource discovery called Cancet has been announced.

To the east, the Company's Property abuts Patriot Battery Metals' property which also announced a large lithium discovery. The same greenstone belt that hosts these large lithium discoveries runs on the Company's Property. The recent spodumene discovery made during surface rock and till sampling will be the focus of a high- resolution ground gravity survey, which Champion Electric's technical team has already commenced.

Gravity has been shown to be an effective tool to map buried pegmatites with no surface showings, and applied at this scale, it is targeted to yield definitive drill targets. The Survey encompasses the sample site that yielded the spodumene (lithium-rich) boulder and hundreds of spodumene fragments and extends up-ice (the opposite direction of glacial ice movement) for more than 1.5 kilometres. Ground gravity readings will be collected on a 20m x 80m grid pattern along the Trans-Taiga Road and covering an area of approximately 1.35 km2.

The Company engaged local geophysical provider Abitibi Geophysics to complete the two-week-long program under the supervision of NewGen Geo, a consultancy specialising in the latest geophysical techniques in pegmatite exploration. About High-Resolution Gravity and Subsequent Drilling: The gravity method is a low-impact technique that measures spatial variations in the Earth's gravitational field caused by contrasts in rock density. The intrusion of a mineralised pegmatite into metamorphosed basalt basement rocks is expected to produce a detectable gravity response even through snow and shallow transported glacial cover.

Detailed ground gravity surveying has a proven successful track record for Li-bearing pegmatite exploration in the region (Neroni, 2023). Results from the gravity survey are expected to be available at the beginning of February. Gravity anomalies indicative of a possible pegmatite body will be considered high-priority targets for imminent drill testing.

The team already has selected drill permits in place and is currently considering drilling contractors. Drilling at the Western prospect can be done from the Trans-Taiga Road and could be scheduled as early as mid to late March 2024.