Consolidated Lithium Metals Provides Update on Kwyjibo Rare Earth Project

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TORONTO, May 07, 2026 (GLOBE NEWSWIRE) — Consolidated Lithium Metals Inc. (TSXV: CLM | FRA: Z36 | OTCQB: JORFF) (“CLM” or the “Company”) is pleased to report continued advancement of its work programs required to exercise its option to earn an undivided interest of up to 80% in the Kwyjibo Rare Earth Project (the “Acquisition”), subject to the satisfaction of certain conditions.

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The Company seeks to address community concerns regarding the Kwyjibo Project footprint and is therefore diligently enhancing and refining the Project’s technical report (the “Report”). The Report is a condition to closing the Acquisition, set out in the conditional approval letter of the TSX Venture Exchange (the “TSXV”). The Report, which is being prepared as part of a preliminary economic assessment, is expected to be completed in June 2026. The Acquisition is more fully described in the Company’s press releases dated November 18, 2025, and February 5, 2026, copies of which are available under CLM’s profile on SEDAR+ at www.sedarplus.ca.

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About Consolidated Lithium Metals Inc.

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CLM is a Canadian junior mining exploration company trading under the symbol “CLM” on the TSX Venture Exchange, “Z36” on the Frankfurt Stock Exchange and “JORFF” on the OTCQB^® Venture Market. The Company is focused on the exploration and development of critical mineral projects in stable jurisdictions. The Company is committed to supporting the energy transition through the responsible development of critical mineral supply chains.

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For Further Information, Contact:

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Richard Quesnel
Chief Executive Officer
Email: [email protected]
Phone: +1 (416) 861-2267
Website: www.consolidatedlithium.com

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Cautionary Statement on Forward-Looking Information

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This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the Acquisition, including the anticipated timing to complete the Report, as well as CLM’s initiatives to address community concerns. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CLM to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including risks related to:
regulatory approvals, such as TSXV approval of the Acquisition and Report, the exercise of any of the options contemplated by the Acquisition, the preparation of the Report and the expected timing thereof, the ability of the Company to address community concerns, and other matters related thereto. Forward-looking statements contained herein are made as of the date of this press release and CLM disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

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NEITHER 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.

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