MONTREAL, QC / ACCESSWIRE / June 7, 2021 / Critical Elements Lithium Corporation (TSXV: CRE, Financial)(OTCQX: CRECF, Financial) (FSE: F12) (“Critical elements“or the”Company“) is pleased to announce that it has retained the services of Metso Outotec and WSP in Canada (WSP) to prepare a Phase II engineering study for a chemical plant to produce lithium hydroxide monohydrate high quality for the electric vehicle battery and energy storage system industries.

Phase II engineering study for an integrated lithium hydroxide plant

Metso Outotec will design the calcination process for the spodumene concentrate (which would include the spodumene concentrate from Phase I of its Rose Lithium-Tantalum project but also possibly other sources) and study the chemical process to produce lithium hydroxide monohydrate from calcined spodumene concentrate. WSP Canada Inc. will design the infrastructure related to the processing plant and act as the integrator for the study. Critical Elements will provide the market research information for economic analysis.

Metso Outotec is at the forefront of sustainable technologies, end-to-end solutions and services for the aggregates, mineral processing, metal refining and recycling industries globally. Metso Outotec has global experience in developing lithium mining technology and has designed and delivered industrial mineral processing plants around the world for decades. It has undertaken its own R&D; for the development of processes and equipment for lithium processes, targeting in particular battery-grade lithium hydroxide. Its reference list of studies and engineering projects of lithium factories as well as its deliveries of proprietary equipment continues to grow on projects all over the world.

As one of the world’s leading professional services companies, WSP provides engineering, design and strategic consulting services in the transportation and infrastructure, real estate and buildings, environment , electricity and energy, resources and industry. WSP has already carried out the feasibility study of the surface infrastructure and the environmental impact assessment of the Rose Lithium-Tantalum project.

The end product of the plant would be lithium hydroxide monohydrate (LMH,> 56.5%). The plant’s capacity is currently expected to be around 27,000 tpa of LMH, in lithium carbonate equivalent (LCE). The plant would also be capable of producing battery-grade lithium carbonate. It is further planned that the plant would include the following main processing areas:

• Pressure leaching
• Pressure leach filtration
• Conversion
• Filtration of leach residues
• Ion exchange
• LiOH * H2O crystallization
• Preparation of reagents
• Utilities

Metso Outotec will also continue to perform additional pilot studies to further expand the hydroxide process dataset envisaged for use by Critical Elements. Collecting additional data points will provide valuable data for supplier selection and speed up a smooth plant start-up phase. For this purpose, the spodumene concentrate produced during the pilot plant program conducted at SGS’s Lakefield laboratory in 2017 is shipped to Metso Outotec’s facilities in Europe.

Previous pilot plant studies conducted by Metso Outotec (see press release of October 29, 2018) successfully converted the spodumene concentrate from the Rose Lithium-Tantalum project into battery-grade lithium hydroxide using a thermal leaching process. The pilot plant conversion process has shown strong results with extraction rates of 93%. This extraction rate exceeds the global average of 70-75% in what is accepted as an industry standard. In addition, the pilot plant produced battery grade lithium hydroxide monohydrate (LMH,> 56.5%).

Based on the results of previous Metso Outotec studies, Critical Elements estimates that the overall total recovery rate should be around 80%, which compares very favorably to industry standards. This estimate of the recovery rate is based on the following:

• Concentrator plant recovery – 90% as shown in variability tests
• Recovery of the decrepitation furnace – 96% verified in the pilot plant
• Thermal leaching process – 93% on average verified in the pilot plant
• Overall return – potentially over 80%

Critical Elements is eagerly awaiting the results of the Phase II Integrated Engineering Study, the economic results of which may add to the economic results of the Phase I Feasibility Study (see press release of September 6, 2017) which dealt with the production of spodumene concentrate. only. The Phase I feasibility study yielded strong results, including an internal rate of return of 34.9% after-tax and a NPV of $ 726 million (8%). The Company continues to anticipate receipt of environmental authorizations, detailed engineering, project financing and a final investment decision for Phase I of the Rose project before year end.

Qualified people

Paul Bonneville, P.Eng., Is the qualified person who has reviewed and approved the technical content of this press release on behalf of the Company.

About Critical Elements Lithium Corporation

Critical Elements Lithium Corporation aspires to become a large, responsible supplier of lithium to the thriving electric vehicle and energy storage systems industries. To this end, Critical Elements Lithium is advancing the wholly-owned high purity Rose lithium project in Quebec. Rose is our first lithium project to progress in a very promising land portfolio of over 700 square kilometers. In 2017, the Company carried out a solid feasibility study on Rose Phase 1 for the production of high quality spodumene concentrate. The project’s internal rate of return is estimated at 34.9% after tax, with an estimated net present value of C $ 726 million at a discount rate of 8%. The capital parameters were confirmed in 2019 by Primero Group as part of a guaranteed maximum price as part of an agreement for the early involvement of contractors, as a prelude to an engineering, procurement and construction process. . Detailed engineering for Phase I is expected to be completed this year as we also deliver technical studies for Phase II, the conversion of spodumene concentrate to high quality lithium hydroxide. In our opinion, Quebec is strategically well positioned for the US and EU markets and has exceptional infrastructure, including a low-cost, low-carbon electricity grid containing 93% hydropower. We have a strong and formal relationship with the Cree Nation.

For more information, please contact:

Jean-Sébastien Lavallée, P. Geo.
Chief executive officer
819-354-5146
[email protected]
www.cecorp.ca

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terms such as “expected”, “anticipates”, “expects” or “does not expect”, “is expected”, “expected”. , “Targeted”, or “believes” or variations of these words and phrases or statements that certain actions, events or results “could”, “could”, “would”, “could” or “would”, “occur” or “will be achieved.” Forward-looking information contained herein includes, without limitation, statements relating to the preparation of the Phase II engineering study, the results of this study and the power to the lithium hydroxide plant, capacity and production, mineral reserve estimates, mineral resource estimates, realization of mineral reserves and resource estimates, capital and operating cost estimates, schedule and the amount of productio n future, production costs, success of mining operations, project ranking in terms of cash cost and production, permits, economic return estimates, electrical and storage facilities, mine life , social, community and environmental impacts, markets and selling prices for lithium and tantalum, take-back agreements and buyers for the Company’s products, environmental assessment and permits, obtaining sufficient financing on acceptable terms, possibilities of short- and long-term optimization of the project, and the continuation of discussions and positive relations with local communities and stakeholders. Forward-looking information is based on what management believes to be reasonable assumptions at the time these 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. Therefore, 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, other factors may cause results not to be as anticipated, estimated or planned. Factors that may cause actual results to differ materially from the expected results described in the forward-looking information include, but are not limited to: the Phase II engineering study and additional pilot studies not producing the expected results of the Company, Critical Elements’ ability to secure sufficient funding to advance and complete the project, uncertainties associated with estimates of the Company’s resources and reserves, uncertainties regarding global lithium and tantalum supply and demand, and market and selling prices, uncertainties related to obtaining purchase agreements and contracts with customers, uncertainties regarding social, community and environmental impacts, uncertainties regarding the possibilities of optimizing the project, as well as than the risk factors set out in the Company’s year-end management report dated August 31, 2020 and other Disclosure documents available on SEDAR for the Company profile. Forward-looking information contained herein is made as of the date of this press 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 securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Critical Elements Lithium Corporation

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