Comet Lithium Corporation announced the successful completion of the Induced Polarization (?IP?) survey on its 100% owned, 92 km² Troilus East property, situated in the Frotet Evans greenstone belt, approximately 130 kilometres north of Chibougamau, Québec. Additionally, the Corporation is thrilled to report that the review and reinterpretation of historical work programs have identified multiple lithium and gold priority targets. Building on the positive IP results and the newly identified targets from the historical program reviews, the Corporation is planning a comprehensive property-wide exploration program.

This upcoming program will include mapping, outcrop and/or boulder sampling, and a glacial untill geochemical survey, targeting gold, copper, and lithium, and is scheduled for early summer. Highlights: The IP survey outlined three significant anomalies centered around a strong conductor with a northeast orientation. Thorough compilation and review of historical data have revealed additional lithium and copper-gold prospects.

A comprehensive summer exploration program is being prepared, set to feature the property's first extensive mapping and glacial untill geochemical survey. IP Survey Program: The IP survey, conducted to the southwest of the Troilus East property, aimed to highlight the presence of structures rich in copper and gold. This survey utilized a 200-metre line spacing and covered a total of 15.70 line kilometres across 13 lines of IP data.

It extended over two unique grids from the southwest grid surveyed in 2021, centered on a strong conductor. This conductor coincides with a kilometric gold anomaly in humus and soil, alongside a polymetallic signature of copper, silver, and tungsten identified during the 2020 fieldwork and partially examined in the 2021 IP survey. Several anomalies were identified, centered on this strong conductor, coinciding with the aforementioned gold and polymetallic signature.

Previous exploration efforts yielded Cu-Ag-W values from various lithologies along a regional mafic to felsic contact. Field observations noted alterations such as silicification, calc-silicates, and biotite-rich assemblages, drawing parallels with the Troilus Gold project located approximately three kilometres northwest of Comet Lithium's Troilus East property. The identified anomalies exhibit high chargeability and low resistivity with complex shapes, spanning apparent widths of 50 to 400 metres.

These anomalies, centered on the strong conductor, extend over 900 metres in some areas along the strike. The grid was designed to examine the overlapping geochemical and geophysical anomalies around the 2021 IP survey's extension and vicinity. Comet Lithium's IP coverage aimed to investigate a favorably oriented parallel trend, mirroring the northeast-southwest orientation of the nearby Troilus gold-copper project of Troilus Gold Corporation, proximal to a regional fault and coinciding with magnetic anomalies.

Compilation and Review of Historical Data on Troilus East: Over the past months, Comet Lithium has recompiled historical data on its Troilus East property, allowing the team to identify several highly prospective areas. The review of historical programs, which included mapping, untill sampling in 2017 and 2020, drilling of eight holes totaling 1,560 metres, IP survey results from 2021 and 2023, and a high-resolution magnetic survey from 2018, identified multiple new priority target areas. The first target area is defined by samples with an promoted number of gold grains, several of which were classified as ?Pristine?.

The second target area is marked by anomalous and coincident gold values in till. These targets are located along a northeast-southwest trend along the contact with the Parker Intrusion. A detailed follow-up geochemical survey and prospecting effort covering both priority areas is planned for this summer.

Additionally, a larger, property-wide survey is planned to fill in areas where no untill sampling was previously conducted. Lithium Potential at Troilus East: Comet Lithium has identified five lithium target areas based on clusters of lithium values. All five targets follow a northeast alignment along the south-eastern flank of the Parker granite intrusion over a strike length of about 20 kilometres.

Two targets are located inside the Parker granite, two others are located close to lenticular granitic intrusion-hosted mafic terrains. Further, the targets generated from the historical results are based on a collection of samples that carried lithium values up to 248 ppm. The past exploration programs completed at Troilus East did not take lithium into consideration, but it succeeded in identifying lithium anomalies.

A work program to be conducted during the summer will target these prospective areas. Gold Potential at Troilus East: The review of historical programs has highlighted that 72 out of 78 untill samples tested positive for gold grains. The number of gold grains varied from one to 13 per 10 kilogram sample, totaling 283 gold grains.

Remarkably, 71 of these gold grains were classified as ?Pristine?, indicating that the untill samples containing these grains are likely located less than 500 meters from their source. These findings stem from the 78 samples collected during the 2017 untill sampling program. In the summer of 2020, to complement the initial program, five additional grids with spacings between 100 and 150 meters were completed to infill the 2017 untill sampling effort.

Some of these samples revealed gold anomalies exceeding 0.001 ppm. These analyses led to the identification of multiple gold prospects concentrated along a northeast trend, which correlates with findings from the 2018 magnetic survey. Notably, these prospects align with the geological contact of the Parker intrusion, mirroring the configuration observed at the Troilus gold-copper project of Troilus Gold Corporation which is located on the site of the former Troilus Gold Mine.

Copper Potential at Troilus East: Following the 2021 drilling campaign and preliminary survey, initial explorations at Troilus East property unveiled a new trend of disseminated copper mineralization situated three kilometres east of the Troilus gold-copper project of Troilus Gold Corporation. Several diamond drill holes from 2021 exhibited copper enrichment ranging from 0.1% to 0.3% across metric intervals reaching up to seven meters. Notably, some of these intercepts align with the strong IP anomaly detected on the southwest grid in 2021.

The drilling campaign in 2021 encompassed eight holes, covering a total of 1,560 metres.