Consolidated Lithium Metals Provides Update on Kwyjibo Rare Earth Project

• On 7 April 2026 Consolidated Lithium Metals (CLM) announced that the technical report required for TSX‑V conditional approval of its option to acquire up to an 80 % undivided interest in the Kwyjibo Rare Earth Project will now be completed in May 2026.
• The announcement reiterates earlier disclosures from November 2025, February 2026 and March 2026 that the acquisition is subject to: (i) completion of a NI‑43‑101 technical report, (ii) regulatory approvals, and (iii) satisfaction of the option terms with SOQUEM.
• No new financing, resource estimate, or permitting milestone was disclosed; the company simply confirms the expected timing of the pending technical work.

• Expectation vs. reality: The May 2026 completion window had already been signalled in February‑March 2026 releases (technical report slated for April 2026). Moving it to May is a modest delay, not a surprise.
• Catalyst strength: The technical report is a prerequisite for closing the earn‑in and for any downstream financing. Its timing remains within the original acquisition schedule, so the news does not materially alter the project’s valuation trajectory.
• Market reaction potential: Because investors were already aware of the pending report, the update is routine. No new capital is raised, no resource change disclosed, and no regulatory hurdle has been cleared. Consequently, the impact on share price should be minimal.

Conclusion: The announcement is a routine operational update with no material upside or downside; it merely confirms an expected timeline shift of one month.

• Consolidated Lithium Metals Inc. focuses on rare‑earth (Kwyjibo) and lithium projects in Québec.
• Flagship asset: Kwyjibo Rare Earth Project, ~125 km NE of Sept‑Îles, targeting a heavy‑REE (Nd, Pr, Dy, Tb, Y) IOCG system with proximity to rail and hydroelectric power.
• The company holds an option to earn up to 80 % interest; Phase I (60 %) requires C$23.15 M (cash, shares, project investment), Phase II (additional 20 %) requires a further C$22 M.