Consolidated Lithium Metals Provides Update on Kwyjibo Rare Earth Project

Executive Summary

• Consolidated Lithium Metals Inc. announced an amendment to its option agreement for acquiring up to an 80% interest in the Kwyjibo Rare Earth Project, clarifying share‑issuance mechanics with optionor SOQUEM Inc.
• The TSX Venture Exchange conditionally accepted the acquisition on February 9, 2026, subject to submission of a NI 43‑101 technical report and a financial plan.
• The company expects to complete the required technical report in April 2026.

Key Details

• Acquisition Scope: Option to earn up to 80% undivided interest in the Kwyjibo Rare Earth Project (located ~125 km NE of Sept‑Îles, Québec).
• Amendment Date: February 4, 2026 – amendment to agreement with SOQUEM Inc. to clarify mechanics for issuing CLM common shares as consideration.
• TSX Venture Exchange Conditional Acceptance: February 9, 2026 – acceptance subject to:
• Submission of a financial plan.
• Completion and filing of a NI 43‑101 technical report (“Report”).
• Technical Report Timeline: Expected completion in April 2026.
• Prior Disclosures: Acquisition previously described in CLM press releases dated November 18, 2025, and February 5, 2026 (available on SEDAR+).
• Contact for Further Information:
• Rene Bharti – Vice President Corporate Development
• Email: [email protected]
• Phone: +1 (647) 965 2173

Notable Quotes

(No direct quotes were provided in the release.)