40.9m of Spodumene-Bearing Pegmatite Intersected in New Step out Hole at Mavis Lake

Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to announce further results from its latest drilling campaign at the Company’s 100 per cent-owned Mavis Lake Lithium Project (“the Project”) in Ontario, Canada.

Highlights

Multiple pegmatite dykes totalling 40.9m intersected within step out hole MF22-116, including1,2,3

• 24.1m spodumene mineralisation from 53 to 77.1m downhole
• 8.15m spodumene mineralisation from 89 to 97.15m downhole
• 8.65m spodumene mineralisation from 112.75 to 121.4m down hole

MF22-116 is located 80m east along trend from the nearest previous drilling, in an area not previously tested, demonstrating continuity and scale potential

Phase 2 drill campaign underway, focused on stepout and infill program to test the potential strike length of ~3km between Pegmatite 6 and Pegmatite 18

A total of 51 of 57 drill holes have intersected spodumene-bearing pegmatite to date, including most recent holes from MF22-109 to MF22-116

Assay work is ongoing and will be release as received

The Company continues its pursuit of a maiden JORC-compliant resource

The MF22-116 step out hole intersected multiple visual pegmatite dykes, with cumulative intersections totalling up to 40.9 metres, with local visual estimates of up to 75 per cent spodumene mineralisation, in metre-scale intervals (Table 1)1,2,3.

The significant visual intersections of thick pegmatites from MF22-116 are likely related to zones defined by the 2018 drilling campaign, with the step out hole located approximately 80m east from the nearest significant zones drilled in the 2018 program, an area that has not been previously tested.

The 2018 drilling program was unable to demonstrate the continuity of significant intercepts, however, MF22-116 has proven that these zones continue along strike to the east.

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