Lion Delivers High-Grade Copper Intercepts and Positive Metallurgy on Low-Low Grade Mineralization

The final holes of the Phase 1 Winter 2026 drill program at Rose West expanded the known mineralized footprint to 1,250 m × 800 m – more than double the original 450 m × 370 m. A new spodumene‑bearing body (Pegmatite 5) was delineated in the southern part of the target area. Assays from four holes confirmed lithium (Li₂O) and tantalum (Ta₂O₅) continuity, with intercepts including: - 1.03 % Li₂O and 233 ppm Ta₂O₅ over 14.65 m (including 1.68 % Li₂O over 8.25 m) in Pegmatite 2. - 1.71 % Li₂O and 210 ppm Ta₂O₅ over 14.75 m (including 2.47 % Li₂O over 8.05 m) in Pegmatite 3. - 0.98 % Li₂O over 11.20 m in Pegmatite 5 and 1.73 % Li₂O over 15.60 m (including 2.90 % Li₂O over 7.35 m) in Pegmatite 3. - A cesium‑rich interval returning 2,796 ppm Ta₂O₅ and 876 ppm Cs₂O over 1.20 m. The company confirmed that the winter program (19 holes, 4,038 m) met its expansion objective and that planning for a summer 2026 follow‑up is underway.

The release is a routine delivery of the final batch of assays from a program whose successful step‑out results were already well‑telegraphed by the April 1, April 29, and May 4 updates. The market had already seen intercepts as high as 2.49 % Li₂O over 9.60 m (May 4) and 3.11 % Li₂O over 7.40 m (April 29) from this program, so the May 21 numbers confirm continuity but do not materially change the Rose West story. The stock price slipped from $0.43 to $0.41 on the day after the release and has yet to recover, which is consistent with an anticipated, non‑catalytic update. No resource estimate was provided, and the projected “material impact” on the Rose project resource that management referenced in February remains a forward‑looking statement, not a realized event. The news is positive in the sense that it further validates the geological model, but it lacks the transformative data point (maiden resource or a significant new discovery beyond the already‑known footprint) that would move the needle.

Critical Elements Lithium Corp. is a Canadian junior lithium developer. Its 100 %‑owned Rose Lithium‑Tantalum Project in Eeyou Istchee, Québec, is one of North America’s most advanced hard‑rock lithium deposits. A feasibility study (August 29, 2023) outlined an after‑tax NPV (8 %) of US$2.2 billion and an IRR of 65.7 %, underpinned by a 17‑year mine life producing high‑purity spodumene concentrate and tantalum. The project benefits from Québec’s low‑cost hydroelectric power and proximity to U.S. and European battery markets. Beyond Rose, the company holds over 1,050 km² of prospective ground along the Nemaska Belt, where summer 2025 prospecting returned high‑grade copper, nickel, cobalt, and PGE grab samples, adding polymetallic optionality.