23.1 Metres of Visual Spodumene-Bearing Pegmatite Intersected in Step-Out Hole 13

Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”), is pleased to advise that it has encountered visual spodumene in another four drill holes at its 100% owned Mavis Lake Lithium Project in Ontario, Canada (“the Project”).

Intersections include a 23.1 metre interval estimated at 32% spodumene in drill hole MF22-72 (Hole 13), which is a step-out hole targeting the Pegmatite 6 zone of mineralisation.

Highlights

Hole 13:

• 23.1 metres of ~32% white-grey to silvery-green, fine to large spodumene laths hosted from 142.25 to 165.35 metres of pegmatite, including : ^{1, 2, 3}
  • 2.3 metre interval hosts ~50% spodumene from 143.1 to 145.4 metres downhole
  • 1.6 metre interval hosts ~60% spodumene from 155 to 156.6 metres downhole
  • 2.0 metre interval hosts ~60% spodumene from 157.1 to 159.1 metres downhole
  • 2.8 metre interval hosts ~60% spodumene from 159.6 to 162.4 metres downhole

• 8.75 metres of ~27% white-grey to silvery-green, fine to large spodumene laths hosted from 110.5 to 119.25 metres of pegmatite, including: ^{1, 2, 3}
  • 3.15 metre interval hosts ~50% spodumene from 111.3 to 114.45 metres downhole

Holes 10 and 11:

• Other new drill hole intersections in the Pegmatite 6 zone include: ^{1, 2, 3}
  • 4.85 metres of ~10% fine to coarse spodumene laths from 101 to 105.85 metres downhole in Hole 10
  • 3.0 metres of ~10% fine to coarse spodumene laths from 84 to 87 metres downhole in Hole 11
• 12 out of 13 holes have intersected spodumene-bearing pegmatite mineralisation
• Due to the current success of the inaugural 5,000m drill program, exploration works on 28 new targets have been identified, including 11 high priority targets (ASX Announcement 12 May 2022) . Work has commenced to extend drilling to a ~10,000m program
• Samples and core from completed drill holes have been sent for analysis and are expected in due course

Figure 1: Close up images of large white-cream coloured spodumene crystals intercepted in Hole MF22-72 (Hole 13)

Critical Resources Managing Director Alex Biggs said: “Hole 13 represents the widest intersection we have seen so far in our drill campaign. The fact that this intersection is at depth, further along strike and importantly a step out hole is significant for the Project and very exciting. The high-grade visual estimates are particularly intriguing and we’re seeing the fundamentals of Mavis Lake improving all the time. Working towards a JORC compliant Resource remains the key focus of the Company. We look forward to updating the market on further results as we receive them”.

Figure 2: Core comprising almost entirely of spodumene laths. Visual estimates were as high as 60% in metre-scale intervals in Hole MF22-72 (Hole 13)

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