Critical Elements Lithium TSXV:CRE Stock Report

Critical Elements Announces A Positive Feasibility Study for the Rose Lithium Project Generating

Critical Elements Lithium Corporation Successfully Produces Battery Grade Lithium Hydroxide in Pilot Plant Testing

Critical Elements Lithium Corporation announced the results from the Corporation's pilot plant program recently completed at the Metso Outotec Research Center, successfully converting spodumene concentrate from the Rose Project ("Rose") into battery grade lithium hydroxide using a thermal leaching process. The pilot plant conversion process from spodumene concentrate to lithium hydroxide was further optimized and confirmed the previous strong results with extraction and conversion rates of 92 %. In addition, the pilot plant produced battery grade lithium hydroxide. A summary of impurity levels is provided: The two critical steps of the process to recover the lithium from spodumene are the conversion from alpha spodumene to beta spodumene where the piloting work achieved 98% conversion rate and the separation of the lithium hydroxide from the calcined spodumene by soda-leaching (98% efficiency) and conversion to lithium hydroxide (96% efficiency). Battery grade lithium hydroxide with a further improved quality profile, High spodumene alpha/beta conversion /leaching /conversion rates of combined 92%, Efficiency for the calcination 98%, Efficiency for the soda-leaching 98%, Efficiency for the lithium hydroxide conversion 96%. The pilot plant work program was conducted at Metso Outotec's Research Center in Finland: Test work campaign, related to Metso Outotec's lithium hydroxide production process, was carried out for Critical Elements Lithium Corporation at the Metso Outotec Research Center in Finland and Germany. Varying concentrate grades were tested during the test work campaign. Two different North American lime sources have been qualified and approved. Process parameters have been modified and adapted. Concentrate used for pilot plant testing was provided from sample taken from Critical Elements Rose and Rose South zones. During the test campaign, the process flowsheet was optimized. The main unit operations in the pilot process were: Calcination of alpha spodumene, Slurry preparation for soda leach, Soda leach of calcined spodumene, Soda leach residue filtration and washing, Lithium hydroxide conversion by lime, Conversion residue filtration and washing, Solution purification by ion exchange, Lithium hydroxide crystallization, Crystallization mother liquor recycling. High, 92% Li extraction from alpha spodumene and after calcination/soda leach and lithium hydroxide conversion. Test work results produced lithium hydroxide with the following impurity profile: Successful results using a thermal leaching process demonstrate that Critical Elements can deliver a battery grade lithium hydroxide to the electric vehicle market. Additional tests may need to be conducted by the Corporation in order to meet customer specific requirements. To date Critical Elements has completed the following testing and piloting work: Piloting of the chosen concentrator plant design. Piloting of the thermal conversion of the ore from -spodumene to -spodumene. Piloting of the Thermal Leaching Process + bicarbonization for lithium carbonate. Piloting of the Thermal Leaching + Lime Process to produce lithium hydroxide. Metso Outotec is a leading technology company in multiple mining and extraction industries, including the lithium industry, with a global presence and owned R&D facilities in Frankfurt, Germany and Pori, Finland, as well as other locations. They offer competent knowledge of the various processing options for both beneficiating spodumene, as well as converting spodumene into saleable lithium salts. Their lithium expertise includes multiple years of research into various lithium processing options, including the understanding and optimizing of the process Critical Elements has chosen for lithium extraction. Following this successful lithium hydroxide process optimization campaign, Critical Elements will finalize its feasibility study for a lithium hydroxide conversion facility. As the study is still underway, it is important to note that the Corporation is not in a position to confirm as of the date hereof if the hydroxide chemical plant to produce high quality lithium hydroxide monohydrate will ever be implemented or that it will form part of the Rose project.

Critical Elements Lithium Corporation Announces That the Québec Minister of Energy and Natural Resources Approves the Rehabilitation and Restoration Plan Concerning the Rose Lithium-Tantalum Mining Project

Critical Elements Lithium Corporation announced that the Québec Minister of Energy and Natural Resources has approved the rehabilitation and restoration plan concerning the Rose Lithium-Tantalum Mining Project. The approval of the rehabilitation and restoration plan is a prerequisite to the granting of the mining lease that will be necessary to move forward with the Project. The rehabilitation and restoration plan contains, in particular the description of the rehabilitation and restoration work relating to the Project and a detailed estimate of the expected costs to be incurred for completing the work. Now that the rehabilitation and restoration plan is approved, the Corporation must furnish a guarantee covering the anticipated cost of completing the work required under the rehabilitation and restoration plan, in accordance with the schedule of payments established pursuant to applicable laws. With the approval of the plan, the Company is making progress in the overall approval process for the Project. In August 2021, Critical Elements announced that the Federal Minister of Environment and Climate Change had rendered a favourable decision in respect of the proposed Rose Project. In a Decision Statement, which included the conditions to be complied with by the Company, the Minister confirmed that the Project is not likely to cause significant adverse environmental effects when mitigation measures are taken into account. The final remaining step in the Project's approval is the completion of the provincial permitting process, which runs parallel to the federal process. Pursuant to the James Bay and Northern Quebec Agreement (JBNQA), the provincial environmental assessment is conducted jointly by the Cree Nation Government and the Government of Quebec under the Environmental and Social Impact Review Committee. The provincial assessment is well advanced and has undergone several rounds of questions from COMEX that have been answered by Critical Elements in the normal course of the assessment process. At this time, Critical Elements has received no further questions from COMEX and remains confident in a positive outcome.

Price target increased to CA$2.42

Up from CA$2.21, the current price target is provided by 1 analyst. New target price is 68% above last closing price of CA$1.44. Stock is up 5.1% over the past year. The company posted a net loss per share of CA$0.013 last year.