Power Metallic reports New Lion drill intercepts of 36.42 Meters of 2.83% CuEqRec1 in Hole 26-116 including 6.00 Meters of 12.38% CuEqRec1 and Announces AGSM Meeting Results

Critical Elements Lithium Corporation holds a meaningful equity stake in Power Metallic Mines Inc., disclosed as “marketable securities” in CRE’s financials, making the latter’s recent developments directly relevant to the former’s investment portfolio. On July 15, 2026, Power Metallic released final winter 2026 assay results from the Lion Zone at its Nisk project in Québec, a polymetallic Cu-Au-Ag-Pd-Pt-Ni-Co deposit.

The lead intercept came from Hole PML‑26‑116, which returned 36.42 m @ 2.83% CuEqRec₁ from approximately 75 m depth. This interval included 6.00 m @ 12.38% CuEqRec₁ and a second high-grade segment of 4.07 m @ 4.30% CuEqRec₁. Other notable results included Hole PML‑26‑113, which returned 44.50 m @ 0.75% CuEqRec, featuring a 0.81 m bonanza at 21.39% CuEqRec, and Hole PML‑26‑111, which returned 14.00 m @ 0.96% CuEqRec, including 2.00 m @ 3.36% CuEqRec.

The data will feed a maiden NI 43‑101 resource estimate (MRE) due by the end of July 2026, with a preliminary economic assessment (PEA) to follow. The release also announced AGSM results and approval of a quorum amendment to support a U.S. exchange listing.

Critical Elements Lithium Corporation (CRE) reported $28.8 million in current assets on its Q2-2026 balance sheet, comprising $10.4 million in cash and approximately $18.4 million in marketable securities, which likely includes its stake in Power Metallic. A significant increase in the value of Power Metallic’s stock would directly boost CRE’s net asset value and could shift the company’s H1-2026 net loss to a gain, mirroring the $8.8 million fair-value gain recorded in H1-2025.

The recent drill results from Power Metallic represent a discovery-quality intercept characterized by near-surface, high-grade, and broad widths. CRE’s shares, trading at $0.32, are currently at their 52-week low, indicating the market has not yet priced in potential upside from this investment. A positive market reaction to Power Metallic could trigger a valuation reset for CRE.

Power Metallic is treated as a portfolio asset rather than an organic discovery, meaning the results do not alter the fundamental lithium thesis.

Critical Elements Lithium Corporation (CRE) is a junior explorer and developer advancing the Rose Lithium‑Tantalum Project in James Bay, Québec. The company completed a feasibility study in August 2023, which outlined a 26.3 million tonne Proven & Probable resource grading 0.87% Li₂O. The study projected a 17-year mine life, an after-tax NPV₈% of US$2.2 billion, and an internal rate of return (IRR) of 65.7%. While the project is fully permitted with recent amendments, it awaits construction financing for approximately US$471 million in capital expenditures.

The company’s Rose West discovery, located adjacent to the main project, has expanded to 1,250 meters by 800 meters. This area features stacked spodumene-bearing pegmatites up to 40 meters thick, with a maiden mineral resource estimate targeted for Fall 2026.

Critical Elements Lithium also holds Nemaska belt properties with nickel, copper, platinum group elements, and lithium potential. The company maintains a significant equity stake in Power Metallic Mines, the subject of a July 15 release, which owns the high-grade Lion Zone at the Nisk project.

As of February 2026, the company reported 232 million shares outstanding and C$10.4 million in cash, with no debt. It closed a C$7 million financing in December 2025, resulting in a market capitalization of approximately C$74 million.