December 12, 2022 – Montréal, Québec – Critical Elements Lithium Corporation (TSX-V: CRE) (US OTCQX: CRECF) (FSE: F12) (“Critical Elements” or the “Corporation“) is pleased to announce the appointment of Mr. Michel Clément, P. Eng., PMP as Senior Project Control Director.
Mr. Michel Clément, P.Eng., PMP brings to the Corporation a vast experience in project control and risk analysis acquired in Québec and internationally. Mr. Clément has more than 25 years of experience in engineering, construction, project management and control, as well as project risk analysis in the industrial and mining sectors. He has been involved in numerous projects, notably with Stornoway Diamonds, Rio Tinto Alcan, the Iron Ore Company of Canada, and Mason Graphite (Lac Guéret, Québec). He also held different engineering positions, including Project Leader, with Rolls-Royce. Mr. Clément holds a bachelor’s degree in Mechanical Engineering from the Université de Sherbrooke and also holds the Project Management Professional certification from the Project Management Institute.
Jean-Sébastien Lavallée, Chief Executive Officer of the Corporation, commented: “We are very pleased to welcome Michel Clément to the position of Senior Project Control Director within our Corporation. Michel will be part of our growing project team. Michel has been an important player in the success of several projects, including the construction of the Renard mine, a project in the James Bay territory. We are confident that Michel’s solid experience in the control of mining projects will help us achieve the Rose Lithium-Tantalum project objectives and make it a success.“
The Chair of the Board of Directors of Critical Elements, Eric Zaunscherb, added, “Everything that the management of this Corporation does, is done in a deliberate, professional, and well thought out manner. In the highly competitive market for skilled and experienced mine-builders in Quebec, the team being assembled at this time is second-to-none. Their combined record of delivering projects on time and on budget should give investors great confidence in the future of the Rose project, one of the few lithium projects in North America with key environmental authorizations and the essential Impact and Benefits Agreement in place.”
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly owned, high purity Rose lithium project in Québec, the Corporation’s first lithium project to be advanced within a land portfolio of over 850 square kilometers. On June 13th, 2022, the Corporation announced results of a feasibility study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at 82.4%, with an estimated after-tax net present value of US$1.9 B at an 8% discount rate. In the Corporation’s view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure including a low-cost, low-carbon power grid featuring 93% hydroelectricity. The project has received approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government and also received the Certificate of Authorization pursuant to section 164 of Québec’s Environment Quality Act from the Québec Minister of the Environment, the Fight against Climate Change, Wildlife and Parcs.
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Cautionary statement concerning forward-looking statements
This news release contains “forward-looking information” within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “scheduled”, “anticipates”, “expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: Critical Elements’ ability to secure sufficient financing to advance and complete the Rose Project, uncertainties associated with the Corporation’s resource and reserve estimates, uncertainties regarding global supply and demand for lithium and tantalum and market and sales prices, uncertainties associated with securing off-take agreements and customer contracts, uncertainties with respect to social, community and environmental impacts, uncertainties with respect to optimization opportunities for the Rose Project, as well as those risk factors set out in the Corporation’s year-end Management Discussion and Analysis dated August 31, 2022 and other disclosure documents available under the Corporation’s SEDAR profile. Forward-looking information contained herein is made as of the date of this news release and Critical Elements disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.