Champion Electric Metals Inc. announced that the Company has made a spodumene discovery from rock and till sampling at its James Bay lithium properties (the "Property"). Spodumene is the primary ore mineral in lithium pegmatite deposits. The ongoing exploration program, which began in spring 2023, included close to 700 rock samples and well over 300 till samples which were collected late this summer and fall 2023.

The outcrop sampling and mapping concentrated in areas of reported potential pegmatite occurrences Some of the rock samples contained highly anomalous lithium (Li), cesium (Cs), tantalum (Ta), and beryllium (Be), but significant outcropping spodumene has yet to be encountered. Additionally, field portable analytical methods and laboratory geochemistry identified three large areas with favourable chemistry for the formation of lithium pegmatites. The till sampling program discussed in the exploration update provided on 5 October 2023 was completed on 26 October 2023.

A total of 338 till samples are being processed for pegmatite indicator minerals, heavy minerals, and geochemical analysis. The Champion Electric technica team is testing and comparing two different processing and analytical methodologies. The highlight of the preliminary results received for 91 samples to date is the presence of spodumene grains in several till samples at the newly identified Western prospect.

One sample returned several thousand spodumen grains and two fist-sized angular boulders of spodumene. The spodumene grains in the till samples are dominated by delicate crystals, which would not survive great transport distances. The team is extremel encouraged by these exceptional results which are evidence of a mineralised system being present nearby.

The interpreted direction of glacial ice movement is from the northeast, as shown on the maps. The Company controls the mineral rights for tens of kilometres up-ice from this new showing. The spodumene crystals in the till sample have been confirmed by microscopy, and multiple geologists have confirmed the spodumene in hand sample.

Geologists at the lab also independently confirmed the spodumene boulder by scanning electron microscope (SEM). Small fragments from the suspected spodumene boulder were glued on a double-sided carbon tape and put into a Zeiss Sigma 300 VP SEM to perform point analyses. The SEM measured the Al2O3/SiO2 ratio of the mineral.

Even though conventional energy-dispersive spectrometry (EDS) cannot detect nor quantify lithium, spodumene has a very specific Al2O3/SiO2 ratio, which can only be mismatched with pyrophyllite (a talc- like mineral). The analysis confirmed that the boulder is composed of spodumene. The Company is awaiting the reporting of the data from the full till sampling program, which will include extensive mineralogical data on heavier minerals from within the till.

The resulting database will also include valuable indications of gold, copper, nickel, and zinc that may occur within the large area being sampled. Silt-sized portions of the samples will also be submitted for geochemical analysis.