PRESSRELEASE
CRITICALELEMENTSENGAGESGOLDSPOTDISCOVERIES
TOAPPLYAIEXPLORATIONTECHNOLOGIESATITSLITHIUM-TANTALUMPROJECTS
WITHINTHE NEMISCAU BELT IN QUEBEC
● GoldSpotwillutilizemachinelearningsolutionstouncoverEVbatterymaterialatCritical Elements'ExplorationProjects
● Engagementshowcases GoldSpot's work with industry leaders across resources to identify new mineralexplorationtargets
June 18, 2021-MONTRÉAL,QUÉBEC -CriticalElementsLithiumCorporation(TSX-V:CRE)(USOTCQX: CRECF) (FSE: F12) ("Critical Elements" or the "Company") and GoldSpot DiscoveriesCorp.(TSXV:
SPOT; OTCQX: SPOFF) ("GoldSpot"),a leading technology services company leveraging machine
learning to transform the mineral discovery process, are pleased toannouncethatGoldSpothasbeen
engaged by Critical Elements to apply it proprietary machine learning technology and geoscience
expertiseon Critical Elements' extensive property package located in James -Bay,Quebec .
Globally,Any Resource
GoldSpotworkswithleadingexplorationandminingclientsacrossallcommoditiesanddeposittypesto
apply cutting edge Artifcial Intelligence ("AI") algorithms to signifcantlyincrease the effciency and successrateofmineralexplorationacrossresources.
GoldSpotwillworkcloselywiththetechnicalteamatCriticalElementstoanalyzegeosciencedatasetsto
develop and refne Smart Targets at the company's 100% owned exploration projects, which features
multiplelithium showings, as well as nickel, copper and gold .
OnestrengthoftheGoldSpotSmartapproachofAIandgeosciencemethodstoexplorationistheability
totakelargelandpackagesanddistillallavailablegeologicalinformationtoidentifythemosteffcientand cost-effective way to explore prospective terrane. As is standard in GoldSpot's workfow, most of all
available public geosciencedata will be compiled and synthesizedfor the permits of scope and
surrounding areas . Structural, geological, metamorphism,hydrothermalfootprint, geophysical,and remotesensingcomponentswillallbeanalysedthroughGoldSpot'sproprietaryAItoolstoproducehighpriority targets for feld prospecting . Additionally,machine learning -based outcrop detection will be
achievedto better orient the feld investigations.
"OurengagementwithCriticalElementsshowcasesGoldSpot'sabilitytoworkwithminingleadersacross
resources to identify new mineral explorationtargets" said Denis Laviolette,Executive Chairman and PresidentofGoldSpot."Signifcantglobalcapitalisbeinginvestedthroughouttheelectricvehiclesupply
chain, which will drive demand for high-quality lithiumsources.WeareexcitedtoworkwiththeCritical Elements team to capitalize on their existing infrastructure and exploration potential as well as
demonstrateour advanced analytical technology ."
Jean-SébastienLavallée,CriticalElements'ChiefExecutiveOffcer,commented:"Wearereallyexcitedto beabletoworkwithGoldSpottoapplytheirexclusivetechnologytogeneratetargetsonourprojectsfrom
geological and geochemicaldata, as well as more recent geophysicaldata acquired during our last survey. Resumption of exploration work onourdifferentprojectscoveringmorethan700km2 aimingto
show the full potential is part of thedevelopmentplanputinplacebyourteamtobecomealargeand responsiblelithiumproducer."
CriticalElements'primaryfocusremainsonadvancingandde-riskingtheRoseProject.InFebruary2021, the Environmental and Social Impact Review Committee ("COMEX") held public hearing sessions in Matagami, Eastmain and Nemaska. As a follow-up to those public hearing sessions, the COMEX communicated to the Company a list of questions and undertakings based on the observations and comments expressed by the participants during the publichearingsessions.TheCompanyiscurrently working on duly responding to those questions and fulflling the undertakings set out in the COMEX's correspondence,whichispartoftheenvironmentalandsocialimpactassessmentandreviewprocedure. The COMEX's mission is to contribute to the protection of human healthandtheenvironmentandthe economic and social well-being of the peoples inhabiting the territorygovernedbytheJamesBayand Northern Quebec Agreement(JBNQA)thatliessouthofthe55th parallel.TheRoseproperty(wherethe RoseLithium-TantalumProjectisproposed)islocatedinnorthernQuébec'sadministrativeregion,onthe territory of Eeyou Istchee James Bay. ItislocatedonCategoryIIIland,ontheTraditionalLandsofthe CreeNationofEastmain.Oncetheenvironmentalandsocialimpactassessmentandreviewprocedureis completed, the COMEX will make a recommendation in respect of the authorization of the Project by provincialauthorities.
AboutGoldSpot DiscoveriesCorp .
GoldSpot Discoveries(TSXV: SPOT; OTCQX: SPOFF) is a technology services company in mineral exploration. GoldSpotisaleadingteamofexpertscientistswhomergegeoscienceanddatascienceto deliverbespokesolutionsthattransformthemineraldiscoveryprocess.Intheracetomakediscoveries, GoldSpotproducesSmartTargetsandadvancedgeologicalmodellingthatsavestime,reducescostsand
providesaccurate results .
AboutCriticalElementsLithiumCorporation
Critical Elements Lithium Corporation aspires to become a large, responsible supplier of lithiumtothe fourishingelectricvehicleandenergystoragesystemindustries.Tothisend,CriticalElementsLithiumis advancingthewhollyowned,highpurityRoselithiumprojectinQuebec.Roseisourfrstlithiumprojectto
be advanced | within | a highly | prospective | land | portfolio | of over | 700 | square | kilometers | . In 2017, | the | |||||||||||||||||||||||||||||||
Corporation completed | a robust | feasibility | study | on | Rose | Phase | 1 for the | production | of high | quality | ||||||||||||||||||||||||||||||||
spodumeneconcentrate.TheinternalrateofreturnfortheProjectisestimatedat34.9%aftertax,witha | ||||||||||||||||||||||||||||||||||||||||||
netpresentvalueestimatedatC$726millionatan8%discountrate.Capitalparameterswereconfrmed | ||||||||||||||||||||||||||||||||||||||||||
in 2019 | by Primero | Group | in | the | context | of a Guaranteed | Maximum | Price | under | an | Early | Contractor | ||||||||||||||||||||||||||||||
Involvementagreement,asapreludetoanEngineering,ProcurementandConstructionprocess.Detailed | ||||||||||||||||||||||||||||||||||||||||||
engineeringforPhaseIisexpectedtoconcludethisyearaswealsodelivertechnicalstudiesforPhaseII, | ||||||||||||||||||||||||||||||||||||||||||
the conversion | of spodumene | concentrate | to high | quality | lithium | hydroxide | . In our | view, | Quebec | is | ||||||||||||||||||||||||||||||||
strategically well -positioned for US | and | EU | markets | and | boasts | exceptional | infrastructure | including | a | |||||||||||||||||||||||||||||||||
low-cost,low-carbonpowergridfeaturing93%hydroelectricity.Wehaveastrong,formalizedrelationship | ||||||||||||||||||||||||||||||||||||||||||
withthe Cree | Nation | . | ||||||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||
Forfurtherinformation,pleasecontact: | | |||||||||||||||||||||||||||||||||||||||||
Jean-SébastienLavallée, | P .Géo. | |||||||||||||||||||||||||||||||||||||||||
ChiefExecutive | Offcer | | ||||||||||||||||||||||||||||||||||||||||
819-354-5146 | ||||||||||||||||||||||||||||||||||||||||||
jslavallee@cecorp.ca | ||||||||||||||||||||||||||||||||||||||||||
www.cecorp.ca | |
Cautionarystatementconcerningforward-lookingstatements
This news release contains "forward -looking information"within the meaning of Canadian Securities legislation .
Generally, forward -looking informationcan be identifed by the use of forward -looking terminologysuch as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", or "believes", or
variations of such words and phrases or statementsthatcertainactions,eventsorresults"may","could","would",
"might" or "will be taken", "occur" or "be achieved". Forward-looking information contained herein include,without
limitation, statementsrelating to the preparationof the Phase II engineeringstudy,theresultsofsuchstudyand
lithium hydroxide plant feed, capacity and production, mineral reserve estimates, mineral resource estimates, realizationofmineralreserveandresourceestimates,capitalandoperatingcostsestimates,thetimingandamount of future production, costs of production,successofminingoperations,therankingoftheProjectintermsofcash
cost and production,permitting,economic return estimates,power and storage facilities, life of mine, social, community and environmental impacts, lithium and tantalum markets and sales prices, off-take agreements and
purchasersfortheCorporation'sproducts,environmentalassessmentandpermitting,securingsuffcientfnancingon
acceptableterms,opportunitiesforshortandlongtermoptimizationoftheProject,andcontinuedpositivediscussions
and relationshipswith local communitiesand stakeholders. Forward -looking informationis based on assumptions managementbelievestobereasonableatthetimesuchstatementsaremade.Therecanbenoassurancethatsuch statementswillprovetobeaccurate,asactualresultsandfutureeventscoulddiffermateriallyfromthoseanticipated insuchstatements.Accordingly,readersshouldnotplaceunduerelianceonforward-lookinginformation.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ materiallyfromthosecontainedinforward-lookinginformation,theremaybeotherfactorsthatcauseresultsnottobe asanticipated,estimatedorintended.Factorsthatmaycauseactualresultstodiffermateriallyfromexpectedresults describedinforward-lookinginformationinclude,butarenotlimitedto:thePhaseIIengineeringstudyandadditional
pilot studies not producingthe results anticipatedmy the Company,Critical Elements' ability to secure suffcient fnancingtoadvanceandcompletetheProject,uncertaintiesassociatedwiththeCorporation'sresourceandreserve estimates,uncertaintiesregardingglobalsupplyanddemandforlithiumandtantalumandmarketandsalesprices, uncertainties associated with securing off-take agreements and customer contracts, uncertainties with respect to social,communityandenvironmentalimpacts,uncertaintieswithrespecttooptimizationopportunitiesfortheProject,
as well as those risk factors set out in the Corporation'syear -end ManagementDiscussionand Analysis dated August31,2020andotherdisclosuredocumentsavailableundertheCorporation'sSEDARprofle.Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligationtoupdateanyforward-lookinginformation,whetherasaresultofnewinformation,futureeventsorresults
orotherwise, except as requiredby applicable securities laws .
Neitherthe TSXVenture Exchange nor its Regulation Services Provider (asthat term is described in the policies of theTSXVentureExchange)acceptsresponsibilityfortheadequacyoraccuracyofthisrelease.
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Critical Elements Lithium Corporation published this content on 18 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2021 12:24:03 UTC.