Essential Parts Lithium Receives Certificates of Authorization for the Rose Lithium-Tantalum Challenge in Quebec

• Common manufacturing, Yr 2 to Yr 16 of 173,317 tonnes of chemical grade 5.5% spodumene focus
• Common manufacturing, Yr 2 to Yr 16 of 51,369 tonnes of technical grade 6.0% spodumene focus
• Common manufacturing, Yr 2 to Yr 16 of 441 tonnes of tantalum focus
• Anticipated lifetime of mine of 17 years
• Common working prices of US$74.48 per tonne milled, US$540 per tonne of focus (all focus manufacturing mixed)
• Estimated preliminary capital value $US$357 million earlier than working capital
• 100% fairness foundation for undertaking
• Common gross margin of 68.3%
• After-tax NPV of US$1,915 million (at 8% low cost charge), after-tax IRR of 82.4% and common worth assumptions of US$4,039 per tonne technical grade lithium focus, US$1,852 per tonne chemical grade lithium focus, US$130 per kg tantalum pentoxide (Ta₂O₅)
• Anticipated building time to start out of manufacturing of 21 months

The Rose Lithium-Tantalum Challenge is 100% owned by Essential Parts. The Company’s market technique is to enter the lithium market with a low-risk method. The completion of the feasibility on the spodumene plant is step one to enter the market and set up the Company as a dependable prime quality lithium provider. The low-risk method is characterised by easy open-pit mining and traditional lithium processing applied sciences.

Essential Parts has constantly sought to advance the wholly owned Rose Lithium-Tantalum Challenge in a low-risk method. To this finish, the Company has accomplished a brand new Feasibility Examine with a conservative spodumene focus worth deck, in addition to capital and working value estimates reflective of present market situations. The brand new Feasibility Examine incorporates a regular truck and shovel open-pit mining operation and traditional lithium processing applied sciences. The Challenge will produce technical grade spodumene focus for the glass and ceramics business and chemical grade spodumene focus for conversion to be used in batteries for e-mobility, in addition to a tantalite focus.

The mine will excavate a complete of 26.3M tonnes ore grading a mean of 0.87% Li₂O and 138 ppm Ta₂O₅ after dilution. The mill will course of 1.61M tonnes of ore per 12 months to provide an annual common of 224,686 tonnes of technical and chemical grade spodumene concentrates and 441 tonnes of tantalite focus. The ore is contained in a number of parallel and steady shallow dipping pegmatite dykes outcropping on floor. The ore zones are open at depth and a future underground operation is feasible.

Over the lifetime of mine, the open pit will excavate a complete of 182.4M tonnes of waste rock and 10.9 M tonnes of overburden. The typical strip ratio is 7.3 tonnes of waste per tonne of ore.

Desk 1 Rose Key FS Outcomes

*Discounting begins with business manufacturing.

Property

The Rose property is positioned in northern Québec’s administrative area, on the territory of Eeyou Istchee James Bay. It’s positioned on Class III land, on the Conventional Lands of the Eastmain Neighborhood, roughly 40 kilometers north of the Cree village of Nemaska. The latter is positioned roughly 300km north-west of Chibougamau.

The Rose property is accessible by street by way of the Route du Nord, usable all 12 months spherical from Chibougamau. The mine web site will also be reached by Matagami, by way of Route 109 and Route du Nord. Determine 1 reveals the regional location of the undertaking. The undertaking is positioned 80 km south of Goldcorp’s Éléonore gold mine and 45 km north-west of Nemaska’s Whabouchi lithium undertaking and 20 km south of Hydro Québec’s Eastmain 1 hydroelectricity producing plant. The Nemiscau airport companies the area’s air journey wants. The Rose property web site is positioned 50 km by street from the Nemiscau airport.

The Rose property includes 473 claims unfold over a 24,654-ha space. Geologically, the Rose property is positioned on the north-east finish of the Archean Lake Superior Province of the Canadian Defend.

Over the lifetime of mine, the open pit will excavate a complete of 182.4M tonnes of waste rock and 10.9 M tonnes of overburden. The typical strip ratio is 7.3 tonnes of waste per tonne of ore.

Determine 1 Rose Property Location

Reserve Estimate

A Mineral Reserve Estimate for 17 mineralized zones was ready throughout this examine. The estimation assumed the manufacturing of a chemical grade spodumene focus with a worth of 20 US$ per kg Li₂O and a tantalite focus with a worth of 130 US$ per Kg of Ta₂O₅. The recoveries have been mounted at 85% and 64% for Li and Ta respectively. The grade-recovery curve used for useful resource estimate, which turned accessible after the mineral reserves have been evaluated, was verified and located to have little affect on the reserve estimate. The manufacturing of a better worth technical grade spodumene focus was not assumed within the reserve estimate.

Primarily based on compilation standing, metallic worth parameters, and metallurgical restoration inputs, the efficient date of the estimate is Could 27, 2022.

The estimate was ready in accordance with CIM’s requirements and pointers for reporting mineral assets and reserves.

Desk 2 shows the outcomes of the Mineral Reserve Estimate for the Rose Challenge on the $36.92 NSR per tonne cut-off for the open-pit state of affairs.

Desk 2 Mineral Reserve Estimate

• The Impartial and Certified Particular person for the Mineral Reserve Estimate, as outlined by NI 43‑101, is Simon Boudreau, P.Eng, of InnovExplo Inc. The efficient date of the estimate is Could 27, 2022.
• The mannequin consists of 17 mineralized zones.
• Calculations used metric models (metres, tonnes and ppm).
• The variety of metric tons was rounded to the closest thousand. Any discrepancies within the totals are as a consequence of rounding results. Rounding adopted the suggestions in NI 43‑101.
• InnovExplo is just not conscious of any identified environmental, allowing, authorized, title-related, taxation, socio-political, advertising or different related problem that would materially have an effect on the Mineral Reserve Estimate.

Useful resource Estimate (“MRE”)

The present MRE is based totally on adjustments made to the web smelter return (“NSR”) parameters, supported by new assumptions regarding metallic costs and the creation of doubtless mineable form to constrain the MRE for the potential underground extraction state of affairs. No adjustments to the interpretation and interpolation parameters have been deemed vital. The mineral useful resource mannequin for the present MRE relies largely upon the mannequin generated for the 2011 PEA.

The efficient date of the estimate is Could twenty seventh, 2022, based mostly on compilation standing, metallic worth parameters, metallurgical restoration inputs and creation of the constraining quantity.

Given the density of the processed knowledge, the search ellipse standards, the drill gap density and the particular interpolation parameters, the QP is of the opinion that the present MRE may be categorised as Indicated and Inferred assets. The estimate was ready in accordance with CIM’s requirements and pointers for reporting mineral assets and reserves.

Desk 3 shows the outcomes of the MRE for the Rose Challenge utilizing $31.4 NSR/t cut-off for the open-pit potential extraction state of affairs and and $121.12 NSR cut-off for the underground potential extraction state of affairs.

Desk 3 Mineral Useful resource Estimate

• The Impartial and Certified Particular person for the Mineral Useful resource Estimate, as outlined by NI 43‑101, is Carl Pelletier, P.Geo., of InnovExplo Inc. The efficient date of the estimate is Could 27, 2022. The MRE comply with 2014 CIM Definition Requirements and the 2019 CIM MRMR Finest Follow Pointers.
• These Mineral Sources should not Mineral Reserves as they don’t have demonstrated financial viability.
• The mannequin consists of 23 mineralized zones.
• The cheap prospect for eventual financial extraction is met by having constraining volumes utilized to any blocks (potential open -pit or underground extraction state of affairs) utilizing Whittle and the Deswik Stope Optimizer (DSO) and by the appliance of cut-off grades. The mineral useful resource is reported at a cut-off of $31.4 NSR for the open-pit potential; and of $121.12 NSR for the underground potential based mostly on market situations (metallic worth, change charge and manufacturing value).
• A spread of densities was used on a per-zone foundation based mostly on statistical evaluation of all accessible knowledge.
• A minimal true thickness of two.0 metres was utilized, utilizing the grade of the adjoining materials when assayed or a worth of zero when not assayed.
• Excessive grade capping was completed on uncooked assay knowledge based mostly on the statistical analyses of particular person mineralized zones.
• Compositing was completed on drill gap intercepts falling inside mineralized zones (composite lengths differ from 1.5 m to three m in an effort to distribute the tails adequately).
• Sources have been evaluated from drill holes utilizing a 2-pass OK interpolation technique in a block mannequin (block measurement = 5 m x 5 m x 5 m).
• The inferred class is barely outlined throughout the areas the place blocks have been interpolated throughout move 1 or move 2 the place continuity is enough to keep away from remoted blocks being interpolated by just one drill gap. The indicated class is barely outlined by blocks interpolated by a minimal of two drill holes in areas the place the utmost distance to the closest drill gap composite is lower than 40 metres for blocks interpolated in move 1.
• Outcomes are introduced in-situ. The variety of metric tons was rounded to the closest thousand. Any discrepancies within the totals are as a consequence of rounding results. Rounding adopted the suggestions in NI 43‑101.
• The certified individuals should not conscious of any identified environmental, allowing, authorized, title-related, taxation, socio-political or advertising points, or another related problem, that would materially have an effect on the potential improvement of mineral assets aside from these mentioned within the MRE.

Feasibility Examine

The parameters used for the feasibility examine are the next:

• Open pit mining charge of 1,610,000 tpy
• Spodumene course of plant with a 4,600 tpd capability

Mining Operation

The mineralization is hosted inside outcropping pegmatite dykes subparallel to floor. The ore physique is comparatively flat, near floor and comprised of north oriented stacked lenses. Mineralization acknowledged so far on the Rose property consists of uncommon ingredient of Lithium-Cesium-Tantalum or LCT-type pegmatites and molybdenum occurrences.

A standard truck and shovel open-pit method was thought of to mine the Rose Lithium-Tantalum Challenge’s Possible Mineral Reserves. The size of the engineered pit design are roughly 1,620m lengthy x 900m broad x 220m deep.

The lifetime of mine plan (LOM) proposes to mine 26.3 Mt of ore, 182.4 Mt of waste, and 10.9 Mt of overburden for a complete of 219.6 Mt of fabric. The typical stripping ratio is 7.3 tonnes of waste per tonne of ore. The nominal manufacturing charge is estimated at 4,600 tonnes per day and 350 working days per 12 months.

The mining operation manufacturing charge is about to roughly 15 Mt of fabric per 12 months. An open pit mining schedule was deliberate and resulted in a mine lifetime of 17 years.

Contract mining can be used for the elimination of the overburden whereas Essential Parts will undertake the mining of all arduous rock materials with its personal tools fleet and operators.

The principle manufacturing fleet will consist of 1 (1) backhoe excavator, one (1) electrical entrance shovel, one (1) wheel loader, seven (7) haul vans (65t), seven (7) haul vans (135t), two (2) rotary drills, one (1) DTH drill, two (2) bulldozers, one (1) wheel dozer, two (2) graders, one (1) auxiliary excavator, one (1) auxiliary wheel loader, and two (2) water vans.

The Rose undertaking pit was designed with a 10m single benching association. A 57° inter-ramp angle and an general pit slope angle of 55° have been utilized for the final word pit design. A berm width of seven.0m similar to the really useful general slope angle was used. The pit slopes in overburden have a face ratio of two.5:1 with a 10m berm width.

The principle in-pit haulage ramp is designed at 30.9m broad to permit a double-lane site visitors, apart from the final benches on the pit backside which can be designed at 20.4m broad for single lane site visitors. A 2m drainage ditch is included to permit for water drainage and pipe set up. The utmost gradient of the internal curvature of all ramp segments is 10%.

Determine 2 Rose Pit Plan View

Determine 3 Rose Pit Facet View Trying West

Mineral Processing

An ordinary froth flotation course of can be utilized to provide technical grade and chemical grade lithium concentrates and a tantalum focus. The mineral course of plant will include crushing, beneficiation, and dewatering areas. The technical grade lithium focus will grade 6.0% Li₂O whereas the chemical grade lithium focus will grade 5.5% Li₂O. The tantalum focus will grade 20% Ta₂O₅.

The beneficiation course of consists of crushing, grinding, magnetic separation and flotation. The crushing circuit will include a jaw crusher and two (secondary and tertiary) cone crushers, and screens. The crushed ore can have a P80 of 13 mm and can be stockpiled in a 9,200-tonne capability dome; that is enough for about two days of mill operation. The grinding circuit will include a ball mill working in a closed circuit and a two-stage cyclone cluster. The tantalum will first be recovered at a grade of two.0% Ta₂O₅ by excessive depth magnetic separation then upgraded additional to twenty.0% Ta₂O₅ by gravity separation. The lithium flotation circuit will embrace elimination of slimes after magnetic separation adopted by mica flotation, scrubbing, and spodumene flotation to the required grade. The lithium flotation circuit will take away slimes, separate mica, and purify the lithium to the required grade. The spodumene focus will then be thickened, vacuum filtered, dried to 1% moisture, and saved in 1500-tonne silo from the place it may be bulk loaded into vans. The tailings can be thickened, vacuum filtered to fifteen% moisture or much less, and trucked to the waste rock / tailings piles the place it is going to be dry stacked.

The spodumene plant will function 24 hours per day, 7 days per week, and 52 weeks per 12 months. The method plant was designed with an working availability of 90%. The crushing circuit was designed utilizing an working availability of fifty%. The concentrator capability has been established at a nominal throughput charge of 4 900 dry tonnes per day. The plant has a capability of 1,610,000 per 12 months.

The method plant flowsheet developed by Bumigeme Inc. is introduced in Determine 4.

Determine 4 Rose Course of Flowsheet

Metallurgy

Bench scale metallurgical testing was carried out at ACME Metallurgical Restricted in Vancouver in 2011. The outcomes from these checks have been used for the PEA examine. Three composites; the Rose (foremost construction), the Rose Sud-Est (Southeast construction) and Tantalum (secondary construction with increased tantalum and decrease lithium content material) have been subjected to varied metallurgical checks.

SGS Canada Inc. in Lakefield carried out checks from 2013 to 2015 to enhance lithium and tantalum recoveries. In 2015 SGS Canada Inc. developed a conceptual flowsheet based mostly on a collection of bench scale checks on numerous samples from the Rose deposit. The proposed flowsheet consists of typical three-stage crushing and single stage grinding adopted by magnetic separation for the restoration of tantalum, mica flotation, and spodumene flotation. This flowsheet was the idea of the method plant design.

SGS Canada additionally carried out a pilot plant program in early 2017 on two samples from the Rose undertaking (Rose and Rose South). The principle goal of the pilot plant program was to generate spodumene focus for testing in a lithium carbonate pilot plant which was carried out by Outotec in Germany and Finland. Secondary targets have been to show metallurgical efficiency on a steady pilot scale and to generate metallurgical and working knowledge for additional research. The spodumene pilot plant demonstrated the robustness of the design course of.

The Feasibility Examine assumes 87.3% and 90% restoration for technical and chemical grade lithium concentrates respectively and 40% minimal restoration for the tantalum focus.

Course of water can be recycled releasing minimal quantities to the equalization pond and closing effluent therapy plant.

Environmental and Social Influence Evaluation

The ultimate environmental impression evaluation (EIA) was submitted to the governments of Canada and Quebec in February 2019. CELC has answered a collection of questions from each authorities our bodies (COMEX and CEAA). In August 2021, Essential Parts introduced that the Federal Minister of Surroundings and Local weather Change had rendered a good resolution in respect of the proposed Rose Challenge. In a Choice Assertion, which included the situations to be complied with by the Company, the Minister confirmed that the Challenge is just not prone to trigger vital opposed environmental results when mitigation measures are taken under consideration.

The ultimate remaining step within the Rose Challenge’s approval course of is the completion of the provincial allowing course of, which runs parallel to the federal course of. Pursuant to the James Bay and Northern Quebec Settlement (JBNQA), the provincial environmental evaluation is carried out collectively by the Cree Nation Authorities and the Authorities of Quebec below the Environmental and Social Influence Assessment Committee (“COMEX”). The provincial evaluation is already effectively superior and has undergone a number of rounds of questions from COMEX and answered by Essential Parts within the regular course of the evaluation course of. At the moment, Essential Parts has obtained no additional questions from COMEX and stays assured in a optimistic final result given the said help for lithium undertaking improvement within the Province of Québec.

Essential Parts has been working for the reason that starting with the Eastmain Neighborhood, on whose lands the Challenge lies. The Company has additionally maintained good relations with the Grand Council of the Cree and with the neighbouring Nation of Nemaska. Consultations have been ongoing and are deliberate all through the lifetime of the Challenge. In 2019, Essential Parts entered into an impression and advantages settlement with the Cree Nation of Eastmain, the Grand Council of the Cree (Eeyou Istchee), and the Cree Nation Authorities referred to as the Pihkuutaau Settlement.

The Company’s mine closure and restoration plan was accepted by the Ministry of Power and Pure Sources of the Province of Québec (MERN) in April 2022.

Infrastructure

The Challenge infrastructure consists of web site foremost entry, companies and haulage roads, explosive and detonator storage, a spodumene processing plant, a upkeep facility, a warehouse, diesel and gasoline storage, LNG storage and distribution, ore stockpile pad, waste rock and dry tailings stockpile, overburden stockpile, foremost electrical substation and distribution, recent and potable water provide, sewage, floor water administration, closing effluent therapy, communication system, gate home, and an administrative constructing.

The mine web site structure is proven in Determine 5.

Determine 5 Rose Web site Format

Waste rock and tailings samples have been analyzed on the SGS Canada’s laboratory in Lakefield and each have been discovered to be non-acid producing. The dry tailings and the waste rock can be saved in the identical facility which has enough capability for the lifetime of mine. Rain and snow soften water can be collected in ditches and pumped to the water therapy plant.

The commercial pad has an space of 296,000 m² and can include the method plant, the upkeep facility, warehouse, administration constructing, diesel and gasoline storage tanks, LNG storage and distribution, and all related companies. LNG can be used for buildings heating and for the drying of the lithium and tantalum concentrates. The ore pad can have a 3.9M tonne capability the place low-grade materials could also be saved.

The hydrology examine has recommended that water influx to the open pit is to be anticipated. As a way to maximize pit slopes, water wells can be constructed across the pit periphery to decrease the water desk beneath the pit ground. One in every of these wells can be used to provide the mine web site with recent water. Water from the opposite wells can be directed to sedimentation ponds and handled, if vital, earlier than being launched to the ultimate effluent.

Water from the waste rock / dry tailings stockpile, the open pit, the economic pad, the overburden stockpile and the roads can be collected in an equalization pond and handled earlier than being launched as closing effluent.

The mine web site can have a 2.7 km foremost entry street from the Eastmain 1 street to the economic pad. Together with the service roads, the positioning will whole 15.8 km of roads.

Electrical energy can be offered by Hydro-Québec. A 315 kV electrical transport line (L3176), owned by Hydro‑Québec, runs North-South over the japanese aspect of the Rose Property. It runs over the deliberate open pit. The portion operating over the open pit representing 4.2 km can be rerouted to permit open pit operation.

Determine 6 Energy Line at Rose Web site

Capital Prices

The capital and working prices have been estimated in Canadian {dollars}. An financial evaluation was carried out with a reduced cash-flow earlier than and after tax. The preliminary capital value is estimated at US$357 M together with all infrastructures described earlier with a ten% contingency. The sustaining capital is estimated at US$126 M over the lifetime of mine.

The full payable merchandise are estimated at 2,797,668 tonnes of chemical grade 5.5% Li₂O focus, 829,198 tonnes of technical grade 6.0% Li₂O focus, and seven,264 tonnes of 20% Ta₂O₅ focus.

Desk 4 Preliminary Capital and Sustaining Capital Prices

Working Prices

The working prices are estimated at $96.73 US$74.48 per tonne of ore processed which embrace:

• Mining – US$29.17 per tonne processed
• Processing – US$15.31 per tonne processed
• G&A – US$15.63 per tonne processed
• Focus transportation – US$14.37 per tonne processed

The full working prices are estimated at US$550/tonne of focus after Tantalite Credit score, as summarized in Desk 5.

Desk 5 Working Prices per Tonne of Focus

Power unit prices are CA$0.06 per kWh for electrical energy, CA$1.70 per litre for diesel, and CA$0.935 per m³ for LNG.

Challenge Economics

The mine will course of 1,610,000 tonnes ore per 12 months grading a mean of 0.87% Li2O and 138 ppm Ta₂O₅ over a interval of 17 years. Over the Lifetime of Mine (LoM), the averages for the value assumptions are US$1,852 per tonne and US$4,039 per tonne of chemical grade and technical grade lithium concentrates respectively (FOB port) and US$130 per kg Ta₂O₅ contained within the tantalum focus (FOB mine web site).

Determine 7 reveals the costs per 12 months for the lithium focus merchandise.

Determine 7 Focus Promoting Value Per Yr

The pre-tax and after-tax NPV at numerous low cost charges are introduced in Desk 6.

Desk 6 Pre-Tax and After-Tax NPV

*Discounting commences with business manufacturing.

The after-tax inside charge of return is 82.4%.

Sensitivity Evaluation

The sensitivity of the NPV to change charge and chemical grade lithium focus worth is introduced in Desk 7.

Desk 7 After-Tax NPV Sensitivity to Alternate Fee and Chemical Grade Lithium Focus

Figures 8 and 9 current the sensitivity of the NPV at 8% low cost charge and IRR to costs, Li₂O restoration, change charge, working prices, and capital value. The economics are most delicate to Li₂O worth, change charge, and Li restoration.

Determine 8 Sensitivity on After-Tax NPV 8%

Determine 9 Sensitivity on After-Tax IRR

Lithium Demand Outlook

The longer term progress of the lithium market will clearly be dominated by e-mobility powered by Li-ion batteries but additionally more and more power storage methods (ESS). With the declining value of Li-cells, targets for 1 kWh being now very near 150 US$, they’re additionally changing into enticing to be used in personal installations mixed with rising use of photovoltaic roof-top electrical energy technology (PV). For instance, in Germany a brand new regulation calls for that for all PV tasks exceeding 1MW energy technology an power storage system needs to be put in by 2025. That is meant to keep away from peak power stressing the electrical energy distribution methods, a phenomenon which already pushes European methods to their limits through the summer time months and more and more so with the continuing addition of latest PV methods, be they business or personal.

Within the coming years the most important driver of the Lithium demand progress continues to be the electro mobility. The IHS Markit World Manufacturing Forecasts from December 2021 assumes an electrical car penetration charge of twenty-two% in 2025 and 39% in 2030. This primarily together with the anticipated progress of common battery measurement will lead to a robust improve of the Lithium demand.

Contemplating about 100 million new vehicles per 12 months by 2030, and assuming that 40% of them are BEVs geared up with a mean 55-kWh battery, this market phase alone would require in extra of 1.5 million metric tons of LCE. As well as, this doesn’t embrace different transport segments reminiscent of two/three-wheelers, mild obligation vans, heavy obligation vans, electrical stationary storage (ESS), and so forth.

Most lately, all main lithium producers in addition to the main market analysts have elevated their forecasts considerably. Determine 10 reveals the precise demand forecast in addition to earlier projections from Albemarle.

Determine 10 Lithium Demand Forecast for 2025 and 2030

Lithium Value Outlook

Primarily based on the precise demand forecast, the elevated manufacturing value of incumbents and newcomers, the rising high quality necessities and extra stringent ESG necessities resulting in increased capital expenditures, a worth increased than 1,500 US$/MT for six% spodumene focus leading to an approximate worth of twenty-two,000 US$/MT of LCE is a prerequisite for placing new tasks into manufacturing. Because the market faces a structural provide deficit for the rest of this decade, costs are anticipated to exceed minimal worth necessities. Benchmark Minerals and Fastmarkets each reported in Q2 2022 contractual costs exceeding 60 US$/kg for lithium carbonate and lithium hydroxide in addition to 5,500 to six,000 US$/mt for spodumene 6%. Additionally, suppliers who’re capable of present a better high quality chemical grade spodumene yielding decrease conversion value can even be capable to obtain increased costs.

The marketplace for technical grade spodumene is a specialty chemical compounds market, which addresses the particular wants for patrons within the glass and ceramics business. Traditionally, costs have been reflecting the upper worth of iron free spodumene like in lithium carbonate and particular properties of the crystalline materials.

Subsequently, pricing for technical grade spodumene is straight linked to the lithium oxide content material in lithium carbonate.

Ongoing Work

The geotechnical program is being accomplished.

Entrance-Finish Engineering is being carried out and detailed engineering work will comply with.

The detailed design of the co-disposal facility for the stacked tailings and pit waste rock is below approach.

Report Submitting

The Company plans to file an NI 43-101 technical report that summarizes the Rose Lithium-Tantalum undertaking on SEDAR (http://www.sedar.com) and on the Company’s web site (http://www.cecorp.ca/en/) inside 45 days.

Certified Individuals

The Feasibility Examine was ready in accordance to 43-101 requirements by WSP Canada Inc (WSP), Bumigeme inc, and InnovExplo Inc.. InnovExplo Inc was chargeable for the useful resource estimate and the mine plan, Bumigeme Inc was chargeable for the mineral processing, WSP was chargeable for environmental examine, undertaking infrastructure, monetary modelling, and report integration. Data relating to the outlook for lithium comes from a market examine ready by Mr. Gerrit Fuelling on behalf of the Company. Mr. Fuelling is an impartial guide specializing within the lithium market.

The certified individuals for the examine are:

InnoExplo Inc;

• Carl Pelletier, P.Geo, Geologist
• Simon Boudreau, P.Eng, Mining Engineer

Bumigeme;

• Florent Baril, Eng, Metallurgical Engineer

WSP;

• Eric Poirier, Eng, PMP, Challenge Supervisor
• Rick McBride, P.Eng., Mining Engineer
• Olivier Joyal, Geologist

About Essential Parts Lithium Company

Essential Parts aspires to grow to be a big, accountable provider of lithium to the flourishing electrical car and power storage system industries. To this finish, Essential Parts is advancing the wholly owned, excessive purity Rose lithium undertaking in Québec. Rose is the Company’s first lithium undertaking to be superior inside a land portfolio of over 700 sq. kilometers. Within the Company’s view, Québec is strategically well-positioned for US and EU markets and boasts good infrastructure together with a low-cost, low-carbon energy grid that includes 93% hydroelectricity. The undertaking has obtained approval from the Federal Minister of Surroundings and Local weather Change on the advice of the Joint Evaluation Committee, comprised of representatives from the Influence Evaluation Company of Canada and the Cree Nation Authorities; The Company is working to acquire comparable approval below the Québec environmental evaluation course of. The Company additionally has , formalized relationship with the Cree Nation.

For additional info, please contact:

Patrick Laperrière
Director of Investor Relations and Company Growth
514-817-1119
plaperriere@cecorp.ca
www.cecorp.ca

Jean-Sébastien Lavallée, P. Géo.
Chief Govt Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca

Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is described within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.

Cautionary assertion regarding forward-looking statements

This information launch accommodates “forward-looking info” throughout the which means of Canadian Securities laws. Usually, forward-looking info may be recognized by means of forward-looking terminology reminiscent of “scheduled”, “anticipates”, “expects” or “doesn’t anticipate”, “is anticipated”, “scheduled”, “focused”, or “believes”, or variations of such phrases and phrases or statements that sure actions, occasions or outcomes “could”, “may”, “would”, “may” or “can be taken”, “happen” or “be achieved”. Ahead-looking info contained herein embrace, with out limitation, statements regarding mineral reserve estimates, mineral useful resource estimates, realization of mineral reserve and useful resource estimates, capital and working prices estimates, the timing and quantity of future manufacturing, prices of manufacturing, success of mining operations, the rating of the undertaking by way of money value and manufacturing, allowing, financial return estimates, energy and storage amenities, lifetime of mine, social, neighborhood and environmental impacts, lithium and tantalum markets and gross sales costs, off-take agreements and purchasers for the Company’s merchandise, environmental evaluation and allowing, securing enough financing on acceptable phrases, alternatives for brief and long run optimization of the Challenge, and continued optimistic discussions and relationships with native communities and stakeholders. Ahead-looking info relies on assumptions administration believes to be cheap on the time such statements are made. There may be no assurance that such statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking info.

Though Essential Parts has tried to establish necessary elements that would trigger precise outcomes to vary materially from these contained in forward-looking info, there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant. Elements that will trigger precise outcomes to vary materially from anticipated outcomes described in forward-looking info embrace, however should not restricted to: Essential Parts’ capability to safe enough financing to advance and full the Challenge, uncertainties related to the Company’s useful resource and reserve estimates, uncertainties relating to international provide and demand for lithium and tantalum and market and gross sales costs, uncertainties related to securing off-take agreements and buyer contracts, uncertainties with respect to social, neighborhood and environmental impacts, uncertainties with respect to optimization alternatives for the Challenge, in addition to these threat elements set out within the Company’s year-end Administration Dialogue and Evaluation dated August 31, 2021 and different disclosure paperwork accessible below the Company’s SEDAR profile. Ahead-looking info contained herein is made as of the date of this information launch and Essential Parts disclaims any obligation to replace any forward-looking info, whether or not on account of new info, future occasions or outcomes or in any other case, besides as required by relevant securities legal guidelines.

SOURCE:Essential Parts Lithium Company

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