Consolidated Lithium Metals Inc. announced that joint venture partner North American Lithium ("NAL") has reported to the Company the first set of assay results from the summer drilling program at the Vallee joint venture (the "Vallee JV") lithium project (the "JV Property"), located approximately 30 km north of Val-d'Or, Quebec within the heart of the Vallee Lithium Corridor. NAL and CLM (the "JV Partners") elected to expand the summer program to 58 holes totaling 15,607 m, which has now been completed. NAL is a wholly owned subsidiary of Sayona Quebec Inc., which is owned 75% by Sayona Mining Limited and 25% by Piedmont Lithium Inc. The first hole of the summer program (hole VAL23-01) intersected two separate high-grade pegmatite dykes.

The first returned a composite assay grade of 1.04% Li2O over 6.46 m from 55.12 m to 61.58 m, and the second, 1.35% Li2O over 3.39 m from 129.14 m to 132.53 m. Four of the remaining holes in which assays have been reported returned assay grades exceeding the cut-off grade of 0.25% Li2O over lengths exceeding 1 m. All 58 holes of the 15,607 m program were located within the high-priority area along strike of the NAL open put mine and within the main NAL Mine Trend. The JV Partners have received final assay results from 18 holes to date. The key highlight of the program to date was confirmation of the extension of the core pegmatite across the entire width of the JV Property, where it remains open along strike to the east onto the Company's 100%-owned East Vallee project lands where there is no historical drilling for several kilometres along strike to the east-southeast along the favorable La Corne Batholith margin.

The core pegmatite also remains open in the down-dip direction along the entire length of its strike length on the property. The core pegmatite has now been defined over a strike length of 4.2 km extending from the NAL open pit to the east boundary of the JV Property. The core pegmatite is one of the larger dykes present within the NAL open pit.

The JV Property is majority-owned by CLM, with NAL having an option to earn up to a 51% interest therein. NAL earned its initial 25% interest in the JV Property pursuant to its first option in late 2023. NAL has a second option to spend an additional CAD 6 million by November 14, 2024 to earn a cumulative 50% interest.

Analytical Procedures. NAL, as the project operator, selected samples from the drill core using visual identification of lithium-bearing minerals in the drill core using visual identification the drill core with the assistance of a Laser Induced Breakdown Spectrometer (" LIBS") handheld analyser. Core samples were sawn into two half being submitted for analysis and the other half retained and returned to the core tray and stored for future reference.

All samples were analysed at ALS Laboratories, Vancouver, an independent accredited laboratory. The samples were crushed and pulverized. Excess crushed and pulverized material not used in the analysis have been retained for future reference.