Critical Elements Lithium Corporation announced that the progress being made to advance the unique Rose Lithium-Tantalum Project "Rose Project" in Eeyou Istchee, Québec and, ultimately, achieve its vision to become a large-scale, sustainable, and reliable vertically integrated supplier of lithium for the emerging electric vehicle and energy storage industries. The Rose Lithium-Tantalum projectis situated within the Rose and Rose South property blocks which constitute 395 km2, or only 38% of the Corporation's highly prospective 1,050 km2 exploration portfolio in Québec. Project Financing and Strategic Partner Negotiations Critical Elements is pleased to provide investors with an update on the ongoing assessment of expressions of interest for financing and developing the Rose Project in collaboration with potential strategic partners.

Despite expectations for a conclusion earlier this year, the Corporation recognizes the intricacy of these negotiations and due diligence, requiring time and thorough consideration. Investors can be assured of a continued interest from potential partners, and that the Corporation believes that the process is progressing positively. Management is committed to securing an optimal outcome for the Rose Project's financing and development.

Company appreciated continued support and patience as work towards a mutually beneficial partnership. Additionally, it is crucial to note that this process is progressing in tandem with the overall development of the Rose Project, as detailed below. The Rose Project Timeline Critical Elements continues to work towards a Rose Project timeline that targets commencement of production of high quality spodumene concentrate for chemical conversion and high purity technical concentrate for the glass and ceramics industry in 2026.

Furthermore, protecting the Rose Project's timeline has been a primary objective for management. Significant steps include the change in project scope to incorporate the construction of own 500-worker camp 4km from the proposed mine site. In addition, Critical Elements has commenced its procurement program focused on ensuring long lead time items are available as needed, advanced detailed engineering, and continued delivery of construction pre-conditions.

These pre-conditions are required under the Pihkuutaau Agreement signed in July 2019, the favorable decision statement from the federal Minister of the Environment and Climate Change announced August 11, 2021, the Certificate of Authorization under Section 164 of Québec's Environment Quality Act announced November 2, 2022, and the mining lease granted under the Québec Mining Act and announced September 18, 2023. Critical Elements is proud to have achieved these very important milestones, which collectively ensure that eventual production is achieved at the highest levels of environmental and cultural sustainability, an essential component in close relationship with Cree neighbours in Eeyou Istchee and a unique quality highly valued input in the global battery value chain. Procurement Program Critical Elements announces that following the order to purchase long lead time equipment (315 kV to 25 kV transformers ­ see press release October 12, 2023), the Corporation has now ordered several batches of electrical equipment.

These include 315 kV circuit breakers from industry-leading GEPR Energy Canada Inc. (GE). These purchases will secure the start-up of the power station as quickly as possible. Jean-Sébastien Lavallée, Exploration Update Critical Elements has recently received the required drilling permit and has initiated preparation for a drilling program on the exciting new discovery discussed above located only 8km west of the Rose Project, located within a portion of the Corporation's highly prospective 1,050 km2 exploration portfolio.

The objective of the drilling program is to test, confirm and expand the new zone identified by prospection during the summer. The Corporation plans to start with a program of approximately 5,000m during its winter program on the new discovery with the objective to quickly test the dimension and grade of the new zone and assess the potential to expand the Corporation's mineral resource inventory. The drilling program will be adjusted and, potentially, expanded based on results of the initial drilling results on the new discovery.