Quarterly Activities/Appendix 5B Cash Flow Report

Lithium exploration and project development company Critical Resources Limited ASX:CRR (“Critical Resources” or “the Company”) is pleased to report on its activities for the quarter ended 30 September 2023 (“the Quarter”).

Highlights

• Spectacular drilling results at the Mavis Lake Lithium Project throughout the Quarter, including:
  • Drill Hole MF23-207 with 74.4m @ 1.18% Li2O from 176.15m down-hole;
  • Drill Hole MF23-210 with 41.25m @ 1.25% Li2O from 208.3m down-hole;
  • Drill Hole MF23-211 with 41.0m @ 1.18% Li2O from 206.6m down-hole;
  • Drill Hole MF23-213 with 50.2m @ 1.28% Li2O from 203.6m down-hole; and
  • Drill Hole MF23-214 with 65.45m @ 0.84% Li2O from 186.25m down-hole, including 25.85m @ 1.30% Li2O from 214m down-hole.
• The consistent, thick, high-grade drilling results confirm and extend the Swell Zone discovery, setting the pathway for future significant resource growth.
• Mapping and sampling at the Gullwing and Tot pegmatite fields delivered excellent results with spodumene-bearing pegmatite rock-chip samples returning grades from 2.2% Li2O to 3.2% Li2O.
• Key appointments bolstered the management team with hard-rock lithium project delivery and operations expertise, supporting continued project development efforts and environmental studies.
• Successful AUD$10.2M capital raising completed, underpinning ongoing programs to drive resource growth and project development.

During the Quarter, the Company remained firmly focused on the development of its 100%-owned flagship asset in Canada, the Mavis Lake Lithium Project (“Mavis Lake”), with highly successful resource drilling programs following up the breakthrough discovery of the Swell Zone.

Drilling throughout the quarter was focused on in-filling and extending this important new zone of mineralisation, establishing a clear pathway for continued resource growth at Mavis Lake.

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