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Critical Elements Lithium Corporation announces that it has obtained a receipt for the final short-form prospectus dated November 29, 2021 in respect of its recently announced "bought deal" underwritten offering . The Corporation anticipates that the closing of the Offering will occur on December 3, 2021About Critical Elements Lithium CorporationCritical Elements aspires to become a large, responsible supplier of ...

Critical Elements Lithium Corporation (TSX-V:CRE) (OTCQX:CRECF) (FSE:F12) (the "Corporation" or "Critical Elements") announces that it has obtained a receipt for the final short-form prospectus dated November 29, 2021 in respect of its recently announced "bought deal" underwritten offering (the "Offering") (see the press release dated November 4, 2021 for details of the Offering). The Corporation anticipates that the closing of the Offering will occur on December 3, 2021

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 Quebec. Rose is the Corporation's first lithium project to be advanced within a land portfolio of over 700 square kilometers. In 2017, the Corporation completed a feasibility study on Rose for the production of spodumene concentrate. The internal rate of return for the Project is estimated at 34.9% after tax, with a net present value estimated at C$726 million at an 8% discount rate. In the Corporation's view, Quebec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% 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; The Corporation is working to obtain similar approval under the Quebec environmental assessment process. The Corporation also has a good, formalized relationship with the Cree Nation.

For further information, please contact:

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 press release contains "forward-looking information" within the meaning of applicable securities laws, including statements with regard to the closing date of the Offering as well as our objectives and the strategies to achieve these objectives. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Corporation's control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Corporation does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

SOURCE: Critical Elements Lithium Corporation



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Critical Elements Lithium Corporation

Critical Elements Lithium Corporation

Overview

Critical Elements Lithium Corporation's (TSXV:CRE,OTCQX:CRECF,FWB:F12) vision is to be a large, responsible supplier of lithium hydroxide to the emerging electric vehicle and energy storage industries. The company is well-positioned, wholly owning over 530 km² of prospective lands hosting one of the highest purity spodumene deposits globally. This deposit is in Quebec, one of the company's premier mining investment jurisdictions. The company aspires to achieve its goals with a minimal environmental footprint by drawing electricity from Quebec's established low-carbon power grid, and in cooperation with the Cree Nation and local First Nations communities, with whom relationships have been formalized.

The Rose lithium-tantalum deposit, one of the largest highest purity lithium deposits in the world, can supply multiple lithium markets because of its unique purity with low iron oxide and mica content. The Rose lithium-tantalum deposit has an updated NI 43-101 resource estimate that outlines an indicated resource of 31.9 million tonnes grading 1.04 percent lithium oxide equivalent or 0.93 percent lithium oxide and 148 ppm of tantalum pentoxide with an inferred resource of 2.8 million tonnes grading 0.92 percent lithium oxide equivalent or 0.82 percent lithium oxide and 145 ppm of tantalum pentoxide.

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