U.S. Critical Metals extends McDermitt option

Mr. Darren Collins reports USCM ANNOUNCES EXTENSION OF OPTION AGREEMENT FOR MCDERMITT EAST LITHIUM PROJECT AMID GOVERNMENT INTEREST IN THACKER PASS U.S. Critical Metals Corp. has received a six-month extension to satisfy its obligations that were due on the second-year anniversary of the option and exploration agreement for the McDermitt Lithium East project, located on the eastern margin of the McDermitt caldera in Nevada. The agreement provides the company with the option to acquire up to a 50-per-cent interest in the project and a further option to acquire an additional 25-per-cent interest for an aggregate total 75-per-cent interest in the project. In consideration for the extension, U.S. Critical Metals will issue an additional 167,000 common shares to Live Energy Minerals Corp. pursuant to the terms of the extension. The shares are being issued at a deemed value of 30 cents. All common shares will be subject to a statutory four-month hold period. Closing of the extension is subject to acceptance of the extension by the Canadian Securities Exchange. This development comes as the Trump administration has signalled strong federal backing for U.S. lithium production, including discussions to acquire an equity stake in Lithium Americas as part of loan revisions to support the Thacker Pass project -- the largest known lithium deposit in North America. U.S. Critical Metals previously reported sampling results of up to 2,129 parts per million lithium at McDermitt East, underscoring the project's potential as part of a strategically vital U.S. lithium district. Darren Collins, chief executive officer of U.S. Critical Metals, commented: "The extension for McDermitt East ensures we maintain a strong foothold in one of the most prospective lithium regions in the U.S. In addition, the U.S. federal interest in Thacker Pass validates the significance of this district, and we believe our asset positions will deliver meaningful long-term value for shareholders." Project overview The project is located within the McDermitt caldera, an extinct 40-kilometre-by-30-kilometre supervolcano formed approximately 16.3 million years ago as part of a hot spot currently underneath the Yellowstone plateau. Following an initial eruption and concurrent collapse of the McDermitt caldera, a large lake formed in the caldera basin. This lake water was extremely enriched in lithium and resulted in the accumulation of lithium-rich clays. Late volcanic activity uplifted the caldera, draining the lake and bringing the lithium-rich moat sediments to the surface resulting in the near-surface lithium present on the project. The McDermitt caldera is potentially one of the largest sources of lithium clays in the world and hosts some of the largest lithium deposits in the United States, including the Thacker Pass project in the southern portion of the caldera. Live Energy Minerals completed a technical report in accordance with National Instrument 43-101 on the project entitled "43-101 Technical Report on McDermitt Lithium East Property," prepared by John Michael William Collins, PGeo, effective date Dec. 16, 2022, which indicates high potential for the project to host large amounts of lithium-bearing sediments. The technical report can be found under Live Energy Minerals' SEDAR+ profile. Qualified person The scientific and technical information contained in this news release has been reviewed and approved by Robert J. Johansing, BSc (geology), MSc (economic geology), who is a qualified person as defined in NI 43-101. Mr. Johansing is a consultant of the company. About U.S. Critical Metals Corp. U.S. Critical Metals is focused on mining projects that will further secure the U.S. supply of critical metals and rare earth elements, which are essential to fuelling the New Age economy. Pursuant to option agreements with private Canadian and American companies, U.S. Critical Metals' assets consist of three agreements, each providing U.S. Critical Metals with the right to acquire interests in four discovery-focused projects in the United States. These projects include the Clayton Ridge lithium property, located in Nevada, the Haynes cobalt property, located in Idaho, Sheep Creek, located in Montana, and Lemhi Pass, located in Idaho. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the United States. U.S. Critical Metals intends to explore and develop critical metals and rare earth assets with near- and long-term strategic value to the advancement of U.S. interests. We seek Safe Harbor.