Critical Resources Limited announced further assay results confirming high-grade lithium mineralisation along a significant strike length at the Company's 100%-owned Mavis Lake Lithium Project in Ontario, Canada. The latest assay results have been delivered from drilling completed over the period November 2022 to February 2023. With two drill rigs on site, the Company was able to continue testing mineralisation of the Main Zone, whilst simultaneously testing new targets in the Southern Zone.

Lithium mineralisation extended within the Main Zone: Thick spodumene-bearing pegmatites continue to be intersected at the Main Zone with assay results highlighting significant intercepts of high-grade lithium mineralisation. Assay data is being incorporated into the current resource modelling that will underpin the release of a Maiden Mineral Resources Estimate (MRE) for Mavis Lake. Assays confirm consistent lithium mineralisation at the newly discovered South Zone: Assay data also confirms consistent lithium mineralisation throughout mapped Pegmatites 11, 12 and 20, a newly discovered southern zone.

This is an excellent result for the Company from the first round of drill testing on these southern targets. Future Work: Drilling continues at Mavis Lake with the immediate focus on the Southern Zone and the testing of the multiple mapped pegmatites within the area. Resource modelling work is ongoing in support of the release of a JORC 2012 compliant, Maiden MRE for Mavis Lake.

Technical and environmental studies are being completed in support of a Scoping Study for Mavis Lake.