Consolidated Lithium Metals Inc. announced that joint venture partner North American Lithium, Sayona Mining Inc.?s majority-owned subsidiary, (?NAL?) has reported to the Company the final set of assay results from the last 40 holes of the 2023 summer drilling program at the Vallée joint venture (Vallée JV) lithium project, located approximately 30 km north of Val-d?Or, Quebec within the heart of the Vallée Lithium Corridor. The 2023 summer drilling program consisted of 58 holes totaling 15,607 m. The Company also announced that analytical results have been received for the 29 drill holes completed and all surface channel samples from the outcrop stripping program, both parts of the 2023 summer exploration program at the Company?s 100% owned Baillargé Lithium Project (Baillargé). Baillargé is located in the Abitibi Greenstone Belt approximately 21 km northwest of Val D?Or, Quebec.

The 2023 summer drilling program succeeded at tracing lithium-bearing pegmatite mineralization associated with the adjacent NAL operating lithium mine across the entire width of the Vallée JV property (the ?JV Property?) from northwest to southeast. Thicker high-grade mineralized intersections were located along the northwestern and southeastern sections of the Core Pegmatite Dyke. The 2023 program extended the Core Pegmatite 700 m to the southeast from the area defined by CLM?s 2021 and 2022 drilling programs. Highlights from the second set of results include a high grade intersection in hole VAL-23-051 that averaged 1.04% Li2O over 7.15m from 157.15 to 164.30 m, an interval in VAL-23-051 of 17.60 m that averaged 0.55% Li2O from 112.50 to 130.10 m that included a higher grade subinterval of 1.25% Li2O over 3.20 m from 112.50 to 115.70 m, and a wide intersection of 16.02 m from VAL-23-057 that averaged 0.50% Li2O from 132.73 to 148.75 m that included a subinterval of 1.29% Li2O over 2.36 m from 140.74 to 143.10 m. Two high-grade intersections were also discovered in VAL-23-042, located north of the Core Pegmatite trend.

The first interval averaged 1.43% Li2O over 3.60 m from 167.55 to 171.15 m within an interval of 0.60% Li2O over 17.00 m from 163.00 to 180.00 m. The second interval averaged 0,68% Li2O over 23.30 m from 215.50 to 238.80 m that included a subinterval of 0.95% Li2O over 10.20 m from 216.55 to 226.75 m. The extension of the Core Pegmatite to the eastern property boundary during the drill program is considered to be a very development for CLM. The Company?s East Vallée project is located immediately adjacent to the JV Property. The East Vallée project overlies an additional 5 km of the Vallée Lithium Trend that has never been drill-tested for lithium.

The tracing of the Core Pegmatite to the southeast end of the property, and the discovery of numerous additional lithium-bearing pegmatites defined during the 2023 summer Vallée JV drilling program immediately south of the Core Pegmatite in the same area has defined high-priority drill targets for the Vallée East project. The Company is currently in the process of planning and permitting a drill program to follow-up these results on the East Vallée project in the coming months.