Mr. Rene Bharti reports

CONSOLIDATED LITHIUM CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FINANCING

Consolidated Lithium Metals Inc. has closed a first tranche of its previously announced non-brokered private placement financing of units at a price of one cent per unit for gross proceeds of $210,000. For more information about the offering underlying the first tranche, please see the company's news release dated Feb. 14, 2025, which is available under the company's SEDAR+ profile.

Pursuant to the first tranche, Consolidated Lithium issued 21 million units at a price of one cent per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of five cents until April 2, 2027. The securities issued in connection with the first tranche are subject to a statutory four-month hold period, which expires on Aug. 3, 2025. Completion of the first tranche is subject to receipt of final approval of the TSX Venture Exchange.

The company intends to use the net proceeds from the first tranche for working capital and general corporate purposes. None of the proceeds are expected to be used to make payments to persons conducting investor relations activities (as such terms are defined in the policies of the TSX Venture Exchange). Approximately 25 per cent of the gross proceeds are expected to be used to satisfy current and future payment obligations owing to non-arm's-length parties (as such term is defined in the policies of the TSX-V). Except as set out herein, no specific use has yet been identified by the company for amounts representing 10 per cent or more of the gross proceeds.

In connection with the first tranche, Consolidated Lithium paid finders' fees of $600 in cash and issued 60,000 non-transferable finders' warrants to eligible finders in accordance with TSX-V policies. Each finder's warrant entitles the holder thereof to acquire one common share at a price of five cents at any time prior to April 2, 2027.

Richard Quesnel, the chief executive officer and a director of the company, and Brett Lynch, the executive chairman of the company, each subscribed for 10 million units pursuant to the first tranche. The insider participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The insider participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The company did not file a material change report more than 21 days before closing the first tranche as the details of the abovementioned insider participation were not settled until shortly prior to closing and the company wished to close the first tranche on an expedited basis.

In addition, the company announces today that it has received conditional approval from the TSX-V to extend the closing of future tranches of the offering to April 9, 2025.

About Consolidated Lithium Metals Inc.

Consolidated Lithium Metals is a Canadian junior mining exploration company trading under the symbol CLM on the TSX-V and Z3" on the Frankfurt Stock Exchange. The company is focused on the acquisition, exploration, production and development of mining properties. The company's properties are in Quebec, Canada, primarily in the spodumene-bearing pegmatites of the La Corne batholith, around North American Lithium's Quebec lithium mine.

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