Approval of Hydro-Québec's Connection and Powerline Relocation Project to Power the Rose Lithium-Tantalum Project

Approval of Hydro-Québec's Connection and Powerline Relocation Project to Power the Rose Lithium-Tantalum Project

Critical Elements Lithium Corporation (TSX-V:CRE)(US OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce that, on January 9, 2023, following the positive recommendation by the Environmental and Social Impact Review Committee (the "COMEX"), the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks (the "Minister") has authorized Hydro-Québec's connection and powerline relocation project, subject to certain conditions

This is another significant step forward for the Rose Lithium-Tantalum Project ("Rose" or the "Project"). For the Project to go forward, Hydro-Québec will have to relocate a segment of the Eastmain-1-Nemiscau line (which currently crosses the future mine site on a distance of 4.1 km), construct a 315/25-kV transformer substation, and connect the mine to the Eastmain-1-Nemiscau powerline. Hydro-Québec derives over 94% of its electricity from hydropower with almost all of the remainder generated from renewable sources. Critical Elements is fortunate to be situated in Québec for several reasons including access to one of the cleanest electricity grids globally.

With the favourable decision of the Federal Minister of Environment and Climate Change rendered in August 2021, the approval by the Québec Minister of Natural Resources and Forests of the rehabilitation and restoration plan concerning the Project in May 2022, the receipt of the Certificate of Authorization pursuant to section 164 of Québec's Environment Quality Act from the Minister in November 2022, and the Minister authorizing Hydro-Québec's connection and powerline relocation project in January 2023, the Corporation is getting a step closer making a final investment decision for the Project.

"With the Minister of the Environment, the Fight against Climate Change, Wildlife and Parks authorizing Hydro-Québec's connection and powerline relocation project, we are excited about the prospect of moving forward with the Rose Lithium-Tantalum Project in the James Bay Eeyou Istchee region," stated Jean-Sébastien Lavallée, CEO of Critical Elements.

About Critical Elements Lithium Corporation

Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec, the Corporation's first lithium project to be advanced within a land portfolio of over 1,050 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation's view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 94% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government and also received the Certificate of Authorization pursuant to section 164 of Québec's Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parks.

For further information, please contact:

Patrick Laperrière
Director of Investor Relations and Corporate Development
514-817-1119
plaperriere@cecorp.ca
www.cecorp.ca

Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement concerning forward-looking statements

This news release contains "forward-looking information" within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "scheduled", "anticipates", "expects" or "does not expect", "is expected", "scheduled", "targeted", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information contained herein include, without limitation, the permitting process of the Rose Lithium-Tantalum Project,as well as the outcome of such process and positive effects for the the Rose Lithium-Tantalum Project. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: the final outcome of the permitting process, the Corporation's ability to meet all conditions imposed thereunder and its effects on the development of the Rose Project, , as well as those risk factors set out in the Corporation's Management Discussion and Analysis for its most recent quarter ended November 30, 2022 and other disclosure documents available under the Corporation's SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.

SOURCE: Critical Elements Lithium Corporation



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Critical Elements Lithium Obtains Transport Canada Dewatering Exemption Necessary for The Development of The Rose Lithium-Tantalum Project

Critical Elements Lithium Obtains Transport Canada Dewatering Exemption Necessary for The Development of The Rose Lithium-Tantalum Project

Critical Elements Lithium Corporation (TSX-V:CRE)(OTCQX:CRECF)(FSE:F12) ("Critical Elements" or the "Corporation") is pleased to announce having obtained an order from the Minister of Transport of Canada (the "Order") exempting the Corporation from the prohibition to dewater navigable waters under the Canadian Navigable Waters Act ("CNWA") impacting 28 navigable waters located either on top of or around the perimeter of the future open pit mine site for the Rose Lithium-Tantalum project

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In order to meet the electrical energy needs of the Project, the Corporation will install two electrical transformers with a ventilation stage during the construction period. The two transformers will operate simultaneously to supply the site and the operating processing plant. A single transformer will be able to support all loads in the event of failure of one of the two transformers.

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Jean-Sébastien Lavallée, Corporation's CEO commented: "Today's news represents one of the final steps towards the development of the Rose Lithium-Tantalum project. As of today, we can say that the regulatory process is for the most part behind us."

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As outlined in the news release dated September 5, 2023, Critical Elements has recommenced ground exploration focused on defining drill targets for a significant fall and winter drill program. Multiple rigs will be deployed to drill-test new targets. The Rose project is situated within the Rose and Rose South claim blocks (Figure 1), which constitute 395 km2, or only 38 % of the 1,050 km2 in the Corporation's highly prospective exploration portfolio in Québec. It is important to note that the Rose project mineral resource estimate is based largely on drilling that concluded in 2016 as management focused on delivering technical studies and advancing permitting at that time.

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Highlights of the Coronado Copper Project

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Nevada Sunrise Metals Corporation Logo (CNW Group/Nevada Sunrise Metals Corporation)

The indicative term sheet outlines a potential transaction whereby CopAur would acquire Nevada Sunrises' 18.74% ownership interest in Kinsley Mountain in consideration of the payment of CDN$475,000 and the issuance of 1,000,000 common shares of CopAur (the "Shares"). The Shares would be deposited in escrow and released in successive releases of 250,000 Shares once every calendar quarter commencing after expiry of the four-month statutory hold period following the closing date. The terms of the transaction are indicative and the final terms are subject to the negotiation and completion of a definitive agreement on terms acceptable to Nevada Sunrise and CopAur. The transaction is subject to a number of conditions including CopAur arranging a financing in the amount of a minimum of CDN$475,000 , completion of satisfactory due diligence, and the fulfilment of various closing conditions, including acceptance by the TSX Venture Exchange.

About Kinsley Mountain

Kinsley Mountain was a historical past producer that yielded 138,000 ounces of near-surface, open-pit oxide gold between 1995 and 1999, and currently hosts a compliant National Instrument 43-101 mineral resource. A technical report on Kinsley Mountain entitled "Technical Report of the Kinsley Project, Elko and White Pine Counties, Nevada, U.S.A. ", dated June 21, 2021 , with an effective date of May 5, 2021 , prepared by Michael M. Gustin and Gary L. Simmons , is available for review under New Placer Dome Gold Corp.'s issuer profile on sedarplus.ca

About Nevada Sunrise

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC , Canada , that holds interests in lithium, gold and copper exploration projects located in the State of Nevada, USA .

Nevada Sunrise owns 100% interests in the Gemini, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV , and in the Pelican lithium project in Saskatchewan, Canada . The Company owns Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Gold Point, NV.

Nevada Sunrise has the right to earn a 100% interest in the Coronado Copper Project , located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.

The Company owns an 18.74% interest in the Kinsley Mountain Gold Project near Wendover, NV , in a joint venture with CopAur, which is now the subject of a potential transaction between Nevada Sunrise and CopAur.

FORWARD LOOKING STATEMENTS

This release may contain forward–looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward–looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward–looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to: the completion of the potential transaction with CopAur Minerals Inc. for the purchase of the Company's remaining participating interest in the Kinsley Mountain Gold Project joint venture; reliance on technical information provided by third parties on any of our exploration properties; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months Ending March 31 , 2024,  which is available under Company's SEDAR profile at www.sedar.com .

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Nevada Sunrise Metals Corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/08/c5338.html

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