Critical Elements Lithium Corporation (TSX-V: Commission for Racial Equality; OTCC: Crave; FSE: F12) announced details of its upcoming summer 2026 drilling program, including 10,000 meters of systematic drilling planned around the 100% owned Rose West Discovery Area, located in Eeyou Istchee, Quebec.
The winter 2026 drilling program has been highly successful in expanding the lateral footprint of known mineralized pegmatite, as well as identifying new lithium- and tantalum-bearing pegmatites in both the hanging wall and footwall of the main pegmatite 3 zone. Several drilling results from the winter of 2024 and 2026 previously disclosed returned extensive assays of high-grade lithium, including 1.66% Li.2O and 180 ppm Ta2Hey5 Over 12.20 metres, through pegmatite 4, in hole RD-24-07, 1.43% Li.2O and 178 ppm Ta2Hey5 Over 24.95 m, through pegmatite 3, in hole RD-24-16A, 1.31% Li.2O and 235 ppm Ta2Hey5 Over 40.40 m, through pegmatite 3, in hole RD-24-20, 1.30% Li.2O and 142 ppm Ta2Hey5 Over 31.60 m, through pegmatite 3, in hole RD-24-22, 2.22% Li.2O and 95 ppm Ta2Hey5 Over 20.30 m, through pegmatite 3, in hole RD-24-23A, 1.39% Li.2O and 157 ppm Ta2Hey5 Over 35.30 m, through pegmatite 3, in hole RD-24-25A, 1.89% Li.2O and 207 ppm Ta2Hey5 Over 13.50 m, through pegmatite 3, in hole RW-26-32, 1.71% Li.2O and 210 ppm Ta2Hey5 Over 14.75 m, through pegmatite 3, in hole RW-26-39, 1.73% Li.2O and 94 ppm Ta2Hey5 Over 15.60 m, through pegmatite 3, in hole RW-26-40, 2.18% Li.2O and 68 ppm Ta2Hey5 Over 12.60 m, through pegmatite 3, in hole RW-26-46, 1.91% Li.2O and 74 ppm Ta2Hey5 Over 11.75 m, through pegmatite 3, in hole RW-26-47, 1.82% Li.2O and 176 ppm Ta2Hey5 Over 14.60 m, through pegmatite 2, in hole RW-26-46, 1.51% Li.2O and 93 ppm Ta2Hey5 Over 18.50 m, through pegmatite 5 (new), in hole RW-26-41 and 1.72% Li.2O and 117 ppm Ta2Hey5 More than 10.30 m, through pegmatite 5 (new), In hole RW-26-47. The actual thickness ranges from 80 to 95% of the length of the core.
The Rose West Zone is a near-surface zone bearing lithium-rich pegmatites, initially intercepted by drilling on an area of 450 x 370 m2 in the winter of 2024, and now covering a total area of 1,250 x 800 m. Lithium-rich pegmatites typically range from 10 to 40 m thick, and together display a near-horizontal stacked geometry. Recent drilling has identified three new spodumene-bearing pegmatic bodies within the target area. The second phase training program for the summer of 2026 aims to expand this mineral footprint further, and to better determine the geometry and extent of the three new intersecting mineral pegmatites during the winter 2026 campaign.
Rose West is located approximately 10 km west of the Rose Lithium-Tantalum project. Rose is one of the most advanced solid lithium projects in North America and features a robust feasibility study completed in August 2023, key permits and licenses, a formal agreement with our Cree neighbors, and excellent infrastructure including road access and proximity to one of the cleanest electrical grids globally. Rose has received a conditional letter of support in the amount of US$115 million/C$150 million from a leading Canadian financial institution and a conditional approval of C$20 million from the Critical Minerals Infrastructure Fund.
The winter 2026 drilling program at Rose West covered most of the holes planned for Line A, Line E and Line K, with 19 holes drilled for a total of 4,037.75 metres. The winter 2026 Phase 1 drilling program achieved positive results demonstrating the successful expansion of Rose West’s mineral footprint from 450m x 370m to 1,250m x 800m, thicknesses typically ranging from 10 to 40m, and excellent lateral grade continuity. As a large part of a stacked and generally flat lie system, the newly discovered pegmatite 5 shows lateral continuity toward the southern part of the main target area.
The summer 2026 drill program is designed to reach three specific goals: expand horizontally throughout the existing mineral footprint; Drilling along line C, to confirm grade and thickness continuity of cross-linked pegmatites; Follow-up of both newly discovered mineralized pegmatites (6 and 7) below the current mineralization level.
Two drilling rigs are being deployed to improve the duration of the programme. The drilling strategy is straightforward: based on our existing geological model and interpretation, apply a 100m grid approach to grow the known mineral volume from its current boundaries outward. The program aims to expand the mineral footprint to a potential of approximately 1,250 x 2,000 meters and could confirm the addition of at least two more bodies of mineralized pegmatite within the system.
The drilling depth will depend on the location of the hole but is expected to average between 150 and 200 metres.
The stacked nature of the mineralized system allows multiple pegmatite bodies to intersect along a given drill hole. Maintaining the same “grid-based” methodological approach, it is not expected that every drill hole will intersect every pegmatite.
From these detailed chart projections, a simple visual analysis reveals that Pegmatite 5 could see its footprint double in size. While the area appears to be closed by holes RW-26-43 and -48 to the east, there appears to be significant potential for enlargement in the central area, where backfill drilling is planned, and to the north, even pegmatite 5 is expected.
The main pegmatite 3 appears to be open in all directions, except again to the east where it is closed by holes RW-26-38 and RW-26-49. Drilling along Line C should confirm the presence of mineralization between the high-grade core zone, which includes high-grade intersections in holes RW-26-45 to -47, and high-grade intersections in both holes RW-26-39 and RW-26-40 approximately 550 meters to the south.
Pegmatite 2 is located downstream of pegmatite 3, presents a different geometry and is interpreted to be amalgamated with the latter. The pegmatites intersect each other along a northwest-southeast trend, virtually closing at approximately their now defined southern boundary. Pegmatite 2 remains open to the north, while it gradually deepens and diverges away from pegmatite 3.
Both pegmatites 6 and 7 were interpreted from individual intersections at depth, along with two deeper holes planned to test the geological model at depth. Hole RW-26-29 is located at the western edge of the mineralized zone, intersecting pegmatite 4 near the surface but also intersecting new pegmatite 6 at a depth of 177 metres.
Hole RW-26-50 in the eastern margin did not intersect with any pegmatite other than the new pegmatite 7 at a depth of 328 metres. Follow-up pegmatite 6 will be processed by extending holes in the ‘fill’ block to the required depth. Pegmatite 7 is located much deeper and the strategy will be to expand hole RW-26-49 to reach the target; This knowledge is required before a decision is made to drill the deeper holes planned in the eastern target area.
“The summer 2026 drilling program is designed to complement existing drill coverage and will prepare the project for the upcoming Mineral Resource Estimation (MRE) planned for next fall 2026. This drilling campaign is expected to provide the data needed to improve the growth potential of various mineralized zones and increase the level of confidence in our 3D geological model. Last winter, we aimed to expand the zones beyond the central 2024 zone; and given the success of the recent program, we will Saifi will help prove the continuity of not just one area, but several pegmatites rich in lithium and tantalum, over a much larger area.”
The Company also announces that, effective today, it has granted deferred stock units (DSUs) and restricted stock units (RSUs) pursuant to its Omnibus Stock Incentive Plan (Omnibus Plan).
These awards include awards made to satisfy compensation obligations made with respect to certain directors and officers during fiscal years 2024 and 2025. Details of these commitments are included in the Corporation’s annual audited financial statements as well as in Management’s Discussion and Analysis for Fiscal Year 2025.
The DSUs and RSUs for fiscal years 2024 and 2025 were vested at the fair value of each unit based on the stock price on the date the Compensation Committee made its recommendation to the Board of Directors.
Each DSU gives the recipient the right to receive one common share of the company upon settlement of the DSU. Fully vested DSUs will vest on the first anniversary of the grant date and will vest upon termination.
Each RSU entitles the recipient to receive one common share of the Company, or a cash payment equal to the equivalent of one common share of the Company, after the vesting period of the RSUs. Vested RSUs will be fully vested on the first anniversary of the grant date.
All foregoing RSUs and DSUs are subject to the terms of the plan, the applicable grant agreement, and the requirements of the TSX Venture Exchange.
Critical Elements aspires to become a large, responsible supplier of lithium to the burgeoning electric vehicle and energy storage systems industries. To this end, Critical Elements is developing the wholly-owned Rose Lithium-Tantalum Project, the company’s first lithium project to be developed within a land portfolio of more than 1,016 square kilometres.2.
On August 29, 2023, the company announced the results of a new feasibility study on rose for the production of spodumene concentrate. The project’s after-tax internal rate of return is estimated at 65.7%, with an estimated after-tax net present value of US$2.2 billion at a discount rate of 8%. From the company’s perspective, Quebec is well strategically located relative to the US and EU markets and boasts good infrastructure including a low-cost, low-carbon energy grid that is 94% hydroelectric.
The project received approval from the Federal Minister of the Environment and Climate Change on the recommendation of the Joint Evaluation Committee, composed of representatives of the Canadian Impact Assessment Agency and the Cree Nation government, and received a Certificate of Authorization under Environmental Quality Law From the Quebec Minister of Environment, Climate Change, Wildlife and Parks, and a mining project lease from the Quebec Minister of Natural Resources and Forestry under the Quebec Mining Code.
