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Comet launches intensive field program on flagship Liberty property

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Classified in: Mining industry, oil industry

Highlights:

  • Start of field work on June 4th on the Liberty Lithium Property with Dahrouge Geological Consulting Ltd.
  • Comet will conduct an intensive and focused exploration program with a total of 32 planned crossings, 20 of which are high priority targets.
  • A 14-day program with 3 experienced teams, with Comets VP Exploration, Vincent Cardin-Tremblay also involved in the exploration efforts.

ROUYN-NORANDA, QC, May 29, 2024 /CNW/ – Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) (“Comet Lithium” or the “Company”) is pleased to announce the commencement of the 2024 Phase 1 exploration program on its 100% owned flagship Liberty property (the “Liberty Property”) at June 4, 2024The Company has engaged Dahrouge Geological Consulting Ltd. to strengthen its team for the surface exploration program.

Three experienced field teams have been assigned to investigate and cross twenty high priority target areas (shown in red in Figures 1 and 2 below) in the most prospective part of the Liberty property in the south. Specifically, three crosses will be made in the first days of the program through all Priority 1 targets to maximize the opportunity for discoveries. Additionally, seven Priority 2 areas (shown in yellow in Figures 1 and 2 below) have been identified in the northern part and five Priority 3 areas (shown in blue in Figures 1 and 2 below) are located in the most prospective zone in the south with an east-west orientation.

The Company's priority prospecting targets were identified using LIDAR. The high priority targets in red represent areas where bedrock is most likely exposed or protruding beneath. The Priority 2 targets in yellow are areas of topographic anomalies that may indicate potential outcrops. There are several interesting topographic anomalies in the central part of the southwestern portion of the Liberty property that show relatively good correlation with magnetic and gravity anomalies.

During the extensive field program, teams will also conduct a fractionation survey in the areas traversed to map potential target zones. A typical approach to identifying lithium-enriched pegmatites is to collect samples of non-lithium minerals such as K-feldspar and muscovite, which serve as reference points for assessing chemical evolution and rare element enrichment in pegmatites.

“We are very excited to commence the Phase 1 exploration program in 2024 on our flagship Liberty property,” commented Vincent MetcalfeChairman and CEO of Comet Lithium. “Thanks to the expertise of our dedicated field teams, we are confident in our strategy to thoroughly investigate and cross-mine high priority target areas. This field program is designed to maximize our chances of discovering lithium mineralization, particularly in the most prospective areas identified by LIDAR and gravity survey results. We look forward to the completion of this field program, the resulting results and ultimately the potential value of the Liberty property.”

Figure 1: Liberty 2024 Field Program – Planned Traverses

Figure 1: Liberty 2024 Field Program – Planned Traverses (CNW Group/Comet Lithium Corp.)

Figure 2: Liberty 2024 Field Program – Lidar Targets

Figure 2: Liberty 2024 Field Program – Lidar Targets (CNW Group/Comet Lithium Corp.)

Qualified person

Vincent Cardin-TremblayP. Geo (ogq #1386, PGO #3347), registered in the provinces of Québec and Ontario is Vice President Exploration at Comet Lithium and a Qualified Person under National Instrument 43-101 ? Disclosure standards for mineral projects. He has reviewed the technical content of this press release and has agreed to the publication of the technical information contained therein.

About Dahrouge Geological Consulting Ltd.

Dahrouge Geological Consulting Ltd. is a global mining and mineral exploration consulting group providing geological, logistics and project management expertise throughout all stages of the mining value chain.

Based in Edmonton, ABMAY, Montreal, Quebec (province)CAN and Denver, ColoradoDahrouge and its predecessor, US-based Halferdahl and Associates, have been advising and assisting clients in the identification, exploration, development and optimization of mineral projects and resources since 1971.

About Comet Lithium Corporation

Comet Lithium is a dynamic lithium-focused exploration company operating in the prolific James Bay District of Quebec (province)Comet Lithium's flagship asset is its 100% owned Liberty property, which is adjacent to Winsome Resources' Adina lithium deposit, a growing high-grade lithium discovery. Comet Lithium is advancing its Liberty property to first drill hole.

Forward-looking statements

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, but is not limited to, statements regarding Comet Lithium's future plans, costs, objectives or performance or the assumptions underlying such plans, costs, objectives or performance. In this news release, words such as “may,” “would,” “could,” “will,” “likely,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” and similar words, as well as the negative of these words, are used to identify forward-looking statements. Forward-looking statements should not be relied upon as guarantees of future performance or results and are not necessarily accurate statements of whether, when or by which such future performance will be achieved. There can be no assurance that the events anticipated in the forward-looking information will occur, including whether planned exploration programs on the Liberty Property, including the planned Phase 1 exploration program described in this news release, will occur, the timing for conducting any such exploration program and the results of such exploration programs, and if so, the benefits Comet Lithium will derive from such exploration programs. Forward-looking information is based on information available at the time and/or management's good faith beliefs regarding future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Comet Lithium's control. These risks, uncertainties and assumptions include, but are not limited to, the risks, uncertainties and assumptions described under “Financial Instruments” and “Risks and Uncertainties” in Comet Lithium's Annual Information Form for the year ended December 31, 2018. December 31, 2023a copy of which is available on SEDAR+ at www.sedarplus.ca and could cause actual events or results to differ materially from those projected in the forward-looking statements. Comet Lithium does not intend, and does not undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except as required by applicable law.

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.

Source: Comet Lithium Corp.

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