District-Scale Potential at Mavis Lake Northern Prospects with Multiple Drill Targets

Lithium exploration and project developer Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to report highly encouraging workstreams underway over the northern prospects at its flagship 100%-owned Mavis Lake Lithium Project in Ontario, Canada.

Highlights

• Multiple exploration techniques being deployed to refine future drill targets surrounding the large spodumene-bearing outcrops in the northern prospects of the Mavis Lake Project Area (Gullwing and Tot).
• Comprehensive Mobile Metal Ion (MMI) soils program completed by CRR field crews, with 1,356 soil samples collected proximal to the outcropping Tot Pegmatite.
• UAV-Borne Magnetometry Survey commenced flying in late October, at low elevation, with tight 25m line spacing to deliver granular detail for structural delineation.
• Capture of LiDAR survey and orthometric imagery completed with data analysis ongoing.
• District-scale potential highlighted with up to 8km in length of known LCT-Type pegmatite clusters identified.
• Active drilling program continues to test and extend the significant Swell Zone at Mavis Lake.

Since acquiring the Gullwing and Tot properties in late 2022, the Company has been diligently developing and refining drill targets around this large-scale prospect. Fieldwork has continued during the month of October, following on from successful highly encouraging litho-geochemical results from the earlier 2023 spring field program and taking advantage of the final fieldwork window before snowfall sets in.

Combining and layering multiple exploration techniques and outputs – including geological mapping, litho-geochemical sampling as well as LiDAR and airborne-magnetometry surveys – will help to refine higher-confidence drill targets around the already known large-scale spodumene- bearing outcrops.

The results of the current programs are pending and will be used to produce geological, geochemical and geophysical overlays, which in combination with previous field work programs, will be extremely useful to determine high priority, high-confidence drill targets.

Mobile Metal Ion (MMI) Soil Survey

An MMI survey was chosen to be carried out as it has a track record of success with identifying LCT pegmatite deposits, specifically when overlain by the glacial lacustrine overburden.

The Company engaged highly-credentialed lithium exploration company Coast Mountain Geological Ltd. to provide field personnel and equipment for the MMI program, which was completed over a two week period.

The MMI orientation survey consisted of 1,356 glacial lacustrine overburden samples being collected. A depth of 40-50cm below the organic-horizon was targeted, with each sample weighing approximately 300g.

Samples have been shipped from Critical Resource’s Dryden Core Facility to an SGS Laboratory located in Burnaby, British Columbia, Canada. A 53 element Standard package – Mobile Metal Ion (MMI) leach, ICPMS will be conducted on the samples with results expected in 6-8 weeks.

Figure 1 – MMI Sample labeled and ready for shipment for MMI analysis.

UAV Magnetometry

Critical Resources also scheduled a UAV-Magnetometry survey, at a tight 25m line spacing with 250m tie lines pattern, to be flown at low altitude across the entirety of the prospective LCT-Type pegmatite corridor of the Gullwing and Tot Prospects (see Figure 2).

The survey commenced in late October and is expected to conclude in early November with results expected in December 23/January 24.

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