Comet Lithium Corporation provided a summary of the key exploration developments in 2023 as well as its exploration perspective for 2024. Key Accomplishments in 2023: Liberty: Completed a gravity survey which covered an area of approximately 2.5 km2 for a total of about 1,219 stations, which followed a 20 metre x 100 metre grid pattern. The Corporation will be using the collected data to better interpret the subsurface geology and structures of Liberty and detect potential pegmatite contacts in amphibolitized basalt.

The data will enable drill target generation and assist in validating the possibility that Liberty and Winsome Resources Limited's ("Winsome") Adina project ("Adina") together may potentially be part of a similar corridor. Data processing is ongoing, and results and interpretation are pending. Identified numerous pegmatite veins in outcrop during a 2-phase field exploration program on Liberty.

The exploration team covered approximately 90% of the ground and collected a total of 224 rock samples and 273 till samples, which were sent to the laboratory in September 2023 for further analysis. Assays and data interpretation are pending. Completed a LIDAR survey.

The objective of the LIDAR survey was to obtain a ground image that ignores the vegetation masking effect to facilitate the interpretation of structures possibly related to pegmatite emplacement. Completed a high-resolution magnetic survey outlining a potential structural connection between Liberty and the Adina projects contiguous to the western border of Liberty. Two trends were identified, an important 2.75 km long (east-west) by 500 metre wide (north-south) low magnetic corridor at Liberty is on strike with Adina's pegmatite system.

The high-resolution magnetic survey also identified a second strong magnetic contrast extending for 6.5 km in the northern half of Liberty. These two trend orientations clearly connect to the west with the Adina pegmatite system. The area is entirely covered by glacial glaciofluvial sediments.

Submitted and received a drill permit for a potential program on the southwestern block of Liberty. Troilus East: Completed an Induced Polarization ("IP") survey on Troilus East. The IP survey was conducted on a 100-metre line spacing and totaled 16.7-line kilometres.

The program covered three unique grids, which were centered on a strong conductor coincident with a kilometric gold in soil anomaly combined with a polymetallic copper, silver, scandium, and tungsten signature identified during the 2020 field work and partially covered during the 2021 IP survey. Data processing is ongoing, and results are pending. Identified five lithium target areas based on clusters of lithium values.

All five targets follow a northeast alignment along the south-eastern flank of the Parker granite intrusion over a strike length of about 20 kilometres. Two targets are located inside the Parker granite, two others are located close to lenticular granitic intrusion-hosted mafic terrains. Further, the targets generated from the historical results are based on a collection of samples that carried lithium values up to 248 ppm (see Comet Lithium's press release dated October 16, 2023, available on SEDAR+).

The past exploration programs completed at Troilus East did not take lithium into consideration, but it succeeded in identifying lithium anomalies. A new work program, anticipated to be conducted in 2024, will target these prospective areas. Galli: Completed a preliminary field program on Galli and collected 39 samples, samples were sent to the laboratory in September, 2023 for further analysis.

Assays and data interpretation are pending. Pontax South and Pontax East: Completed a high-resolution magnetic survey of its Pontax South and Pontax East properties, located in the west-central James Bay. Results and interpretation are pending.

2024 Exploration Perspectives: The Trieste Formation greenstone belt is one of the most active exploration areas within the James Bay region of Québec and an emerging lithium district. Several companies, including Winsome, Azimut Exploration Inc., Rio Tinto, Midland Exploration Inc., and Loyal Lithium Limited have extensive ongoing exploration programs on neighboring properties of its Liberty lithium property, which are supporting its substantial data collection and analysis. Data processing, and pending results from Comet Lithium's 2023 exploration program, combined with the ongoing results from the neighboring properties are contributing greatly to increasing its knowledge and understanding of the Corporation's Liberty lithium property and its context within the Trieste Formation, which will ultimately support a future comprehensive drilling program.