Further Spodumene-Bearing Pegmatite Intersections of up to 15m at Mavis Lake

Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”), is pleased to advise that another seven step-out holes have intersected intervals of spodumene-bearing pegmatite. 30 of 32 holes have intersected spodumene-bearing pegmatites within the Pegmatite 6 zone at the Company’s 100% owned Mavis Lake Lithium Project (“the Project”) in Ontario, Canada. Over 4,300 metres has now been drilled of the Company’s inaugural 5,000m drill program, at the Project.

Highlights^1,2,3

Hole 26

• 15m of ~20% fine to large spodumene laths from 148.15 to 163.15m

Hole 27

• 9.4m of ~20% fine to large spodumene laths from 116.7 to 126.1m

Hole 30

• 3.55m of ~20% fine to large spodumene laths from 47 to 50.55m of pegmatite, and
• 1.5m of ~20% fine to large spodumene laths from 51.35 to 52.85m of pegmatite

Hole 31

• 3.3m of ~10% fine to large spodumene laths from 45.75 to 49.05m

Hole 28

• 7.95m of <5% fine to large spodumene laths from 113.2 to 121.15m of pegmatite

Hole 29

• 4.55m of <5% fine to large spodumene laths from 45.8 to 50.35m of pegmatite
• 30 out of 32 drill holes have intersected spodumene-bearing pegmatite mineralisation
• The Company continues to prioritise its Mavis Lake program as it looks to double its initial drilling campaign over the coming months

Figure 1: White-grey spodumene-bearing pegmatite from MF22-65 (Hole 26)

Critical Resources Managing Director Alex Biggs said: “For 30 out of our first 32 holes to intersect spodumene bearing mineralisation is a significant achievement. We are focusing on the Pegmatite 6 zone initially which will form the basis of a JORC compliant Resource estimate and next we plan to be testing the strike extent of mineralisation to the east and north towards the Pegmatite 18 occurrence. We are very pleased with what we are seeing at Mavis Lake so far and are looking forward to more excellent drill and assay results”.