Critical Elements' 10,000-Meter Summer Drill Program at Rose West Continues to Deliver Positive Results

Critical Elements Lithium Corporation (CRE) has released the first assay results from the North Extension Area at Rose West, defining a new offset body known as Pegmatite 3B. This pegmatite sits approximately 75 meters above the main Pegmatite 3 and covers an area claimed to be 300 by 300 meters. The company reported assays for ten drill holes, RW-26-59 through RW-26-68, with an additional 26 holes, RW-26-69 to RW-26-96, drilled and pending results.

The reported intervals, all core length, are as follows:

• RW-26-59: 85.15–99.20 m, 14.05 m @ 0.58% Li2O, 226 ppm Ta2O5 (incl. 3.85 m @ 0.84% and 1.90 m @ 1.83%)
• RW-26-60: 45.80–62.00 m, 16.20 m @ 1.35% Li2O, 160 ppm Ta2O5 (incl. 9.25 m @ 1.85%)
• RW-26-61: 59.65–68.05 m, 8.40 m @ 0.61% Li2O, 227 ppm Ta2O5 (incl. 5.15 m @ 0.96%)
• RW-26-62: 72.45–78.75 m, 6.30 m @ 0.93% Li2O, 162 ppm Ta2O5 (incl. 1.65 m @ 3.39%)
• RW-26-63: 88.30–92.55 m, 4.25 m @ 0.15% Li2O, 166 ppm Ta2O5
• RW-26-64: 69.60–72.80 m, 3.20 m @ 1.32% Li2O, 280 ppm Ta2O5
• RW-26-65: 59.30–63.20 m, 3.90 m @ 0.05% Li2O, 106 ppm Ta2O5
• RW-26-66: 49.30–56.40 m, 7.10 m @ 0.18% Li2O, 217 ppm Ta2O5
• RW-26-67: 59.90–63.80 m, 3.90 m @ 0.00% Li2O, 163 ppm Ta2O5
• RW-26-68: 15.90–20.00 m, 4.10 m @ 0.01% Li2O, 161 ppm Ta2O5

A further 16 holes, RW-26-74 to RW-26-92, are tabulated with spodumene-rich pegmatite core lengths ranging from 2.30 meters to 37.90 meters, with all assays marked as pending. Notable lengths include 37.90 meters in RW-26-85, 33.30 meters in RW-26-90, and 28.10 meters in RW-26-89.

Drilling along Lines C and D suggests a shallow west-dipping branch of the main zone coinciding with Pegmatite 6, with intersections averaging 15 to 20 meters in thickness. The company states that the Rose West footprint has grown more than ten-fold since winter 2024 and now measures 1,250 meters by 1,500 meters.

Critical Elements Lithium Corporation (CRE) released technical data without accompanying financial results, meaning there is no revenue, margin, or guidance content to assess. Prior-period financial context, not disclosed in this release, includes a nine-month net loss of C$3.42M through May 31, 2026, an operating cash outflow of C$4.19M, and cash holdings of C$8.29M. The company reported no revenue and included going-concern language in the MD&A regarding financing needed for Rose construction, with 232.0M shares outstanding and a book value of C$0.35 per share.

The deposit-scale story at Rose West remains the main zone, characterized by 20–40 m true widths at 1.3–2.2% Li2O, plus Pegmatites 5, 6 and 7. This release adds a shallow, thin, low-grade offset body at the northern margin and confirms that Pegmatite 3B exists. The drill programme is now in infill mode "in support of a Mineral Resource Estimate," shifting market expectation toward the resource rather than fringe fence.

The stock closed at C$0.26 on Nov 9, 2026, marking the 52-week low and a 33% decline from C$0.39 on Aug 24, 2026, when the last real step-out assays were published. The price is also 35% below the C$0.40 hard-dollar placement price of December 2025. The August anchor result is emphatically not embedded in the current valuation.

As a pre-revenue explorer/developer, CRE carries a C$60M market cap against a C$81M book and a feasibility study claiming US$2.2B after-tax NPV that requires US$471M of construction capital it does not have. At this stage, only a resource-defining result, a financing/FID at Rose, or a genuinely high-grade new zone moves the equity; margin-zone assays do not.

Critical Elements Lithium Corporation (CRE) is a pre-revenue Quebec developer holding the 100%-owned Rose lithium-tantalum project in Eeyou Istchee James Bay. The property comprises 502 EERs covering 26,034 hectares, plus a 157-hectare mining lease. An August 2023 feasibility study outlined a 26.3 million-tonne probable reserve grading 0.87% Li2O and 138 ppm Ta2O5. The plan calls for a 17-year mine life at a rate of 1.61 million tonnes per year, producing approximately 157,700 tonnes per year of chemical-grade and 46,100 tonnes per year of technical-grade spodumene concentrate, plus approximately 580 tonnes per year of Ta2O5. The study calculated an after-tax NPV8% of US$2,195 million and an IRR of 65.7% on a US$471 million initial capex. Federal and provincial environmental authorisations and the mining lease are in hand.

Adjacent to Rose is the Rose West discovery, the subject of this release, which is being drilled toward a maiden resource. The company also holds the Nemaska Belt property group, consisting of approximately 591 square kilometres across 12 properties, and a 20% carried interest in the Nisk property, with Power Metallic Mines holding the remaining 80%.

Cash at May 31, 2026 was C$8.29 million, with no conventional debt. There are 232.0 million shares outstanding plus 1.65 million options, 956,871 DSUs, 1,829,645 RSUs, 40,416 PSUs and 850,000 broker warrants at C$0.40. The MD&A carries going-concern uncertainty regarding the financing required to build Rose. The CEO holds NSR royalties on parts of the property.