18.1m of Visual Spodumene Intersected at Untested Depths in Step Out Hole 5, at Mavis Lake

Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”), is pleased to advise that it has encountered visual spodumene in four of its first five holes including an 18.1-metre interval of ~20% spodumene-bearing pegmatite in step-out hole MF22-64 (Hole 5) at its 100% owned Mavis Lake Lithium Project in Ontario, Canada.

Highlights

Hole 5:

• Spodumene hosted in pegmatite intercept of ~18.1m from 159.1m to 177.2m, in Hole 5. The white to grey pegmatite is estimated to contain approximately 20% of medium to large, cream coloured, spodumene crystals
• Hole 5 confirms lithium mineralisation is open at depth and along strike within pegmatite 6, which will continue to be tested during the remainder of this drill program
• Importantly, Hole 5 is a step-out hole testing new depths of the Pegmatite 6 lithium mineralisation

Hole 4:

• Spodumene hosted in pegmatite intercept of ~5.3m from 65m to 70.3m, in Hole MF22-63 (Hole 4). The white to grey pegmatite is estimated to contain approximately 10-15% of medium to large, cream coloured, spodumene crystals

Hole 2:

• Spodumene hosted in pegmatite intercept of ~4.2m from 105.75 to 109.95, in MF22-61 (Hole 2). The white to grey pegmatite is estimated to contain approximately 20% of medium to large, cream coloured, spodumene crystals

In Summary:

• The first four out of five holes of the Mavis Lake drill program have intercepted visual spodumenebearing pegmatites
• The Company remains committed to its goal of defining a JORC compliant Resource at Mavis Lake which if successful, represents a transformational opportunity for the company to position itself in the Lithium sector in Ontario, Canada

Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”), is pleased to advise that it has encountered its largest visual spodumene intersection in Hole 5 of its inaugural 5,000m drill program at its 100% owned, Mavis Lake Lithium Project in Ontario, Canada.

Spodumene hosted in pegmatite intercept of 18.1m from 159.1m to 177.2m, in Hole 5 of white to grey pegmatite is estimated to contain approximately 20% of medium to large, cream coloured, spodumene crystals and represents an at depth extension of the Pegmatite 6 ore body. Hole 5 is a step-out hole and tests down-dip mineralisation.

Critical Resources Managing Director Alex Biggs said: “Hole 5 represents the largest spodumene intersection we have seen so far during the 2022 drill program. An 18.1m intersection with a high mineral content of ~20% represents a significant milestone in what are still the early stages of our inaugural drill program. Furthermore, to intersect visual spodumene in four of the five initial holes is an excellent outcome. The story of Mavis Lake is beginning to unfold and we see this drill campaign as a potentially transformational catalyst for both the project and the Company”

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