MONTREAL, May 16, 2018 (GLOBE NEWSWIRE) -- Critical Elements Corporation (TSX-V:CRE)
(OTCQX:CRECF) (FRANKFURT:F12) announce that, at its annual meeting held today, shareholders of the Company approved all the items,
including:
- Election of Jean-Sébastien Lavallée, Jean-François Meilleur, Richard Saint-Jean, Jean-Raymond Lavallée, Marc
Simpson, Steffen Haber, Marcus Brune and Matthew Starnes Lauriston as directors;
- The appointment of KPMG s.r.l./S.E.N.C.R.L. as auditors of the Corporation for the current financial year.
About Critical Elements Corporation
The Company recently released a financial analysis for Critical Elements’ wholly-owned Rose Lithium Tantalum
project (Rose Lithium-Tantalum project feasibility study, WSP, October 20, 2017), which is based on price forecasts of US
$750/tonne for chemical-grade lithium concentrate (5% Li2O), US $1,500/tonne for technical-grade lithium concentrate (6% Li2O) and
US $130/kg for Ta2O5 in tantalite concentrate, and an exchange rate of US $0.75/CA $. The internal rate of return (“IRR”) for the
Rose Lithium-Tantalum project is estimated at 34.9% after tax, and net present value (“NPV”) is estimated at CA $726 million at an
8% discount rate. The estimated payback period is 2.8 years. The pre-tax IRR for the Rose Lithium-Tantalum Project is estimated at
48.2% and the pre-tax NPV at CA $1,257 million at an 8% discount rate (see press release dated September 6, 2017). The financial
analysis is based on the Indicated mineral resource. An Indicated mineral resource is that part of a mineral resource for which
quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to
allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic
viability of the deposit. The life-of-mine (LOM) plan provides for the extraction of 26.8 million tonnes of ore, 182.4 million
tonnes of waste, and 11.0 million tonnes of overburden for a total of 220.2 million tonnes of material. The average stripping ratio
is 7.2 tonnes per tonne of ore. The nominal production rate is estimated at 4,600 tonnes per day, with 350 operating days per year.
The open pit mining schedule allows for a 17-year mine life. The mine will produce a total of 26.8 million tonnes of ore grading an
average of 0.85% Li2O and 133 ppm Ta2O5, including dilution. The mill will process 1.61 million tonnes of ore per year to produce
an annual average of 236,532 tonnes of technical- and chemical-grade spodumene concentrate and 429 tonnes of tantalite
concentrate.
FOR MORE INFORMATION:
Jean-Sébastien Lavallée, P.Geo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca
Investor Relations:
Paradox Public Relations
514-341-0408
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
