Critical Elements Lithium (TSX-V: CRE; OTCQX: CRECF; FSE: F12) released assay results from four holes at its Rose West Discovery on August 12, 2026 — the first results since drilling resumed following a precautionary forest-fire suspension announced July 6, 2026.

Hole RW-26-35A returned 1.89% Li2O and 161 ppm Ta2O5 over 27.35 metres through Pegmatite 3, per the company's August 12, 2026 news release. The interval includes 2.70% Li2O and 222 ppm Ta2O5 over 10.50 metres and 1.84% Li2O and 115 ppm Ta2O5 over 9.00 metres within the same hole.

Three additional holes completed the August 12 release. Hole RW-26-51 cut Pegmatite 5 for 1.23% Li2O and 227 ppm Ta2O5 over 6.45 metres (including 1.64% Li2O and 179 ppm Ta2O5 over 4.00 metres) and Pegmatite 3 for 1.58% Li2O and 118 ppm Ta2O5 over 16.85 metres. Hole RW-26-52 returned 1.00% Li2O and 88 ppm Ta2O5 over 19.40 metres through Pegmatite 3, including 1.11% Li2O and 176 ppm Ta2O5 over 6.70 metres and 1.43% Li2O and 83 ppm Ta2O5 over 4.00 metres. Hole RW-26-58 intersected Pegmatite 5 for 1.33% Li2O and 145 ppm Ta2O5 over 14.05 metres, including 1.81% Li2O and 122 ppm Ta2O5 over 9.00 metres.

Every reported interval in the August 12 release carries a Ta2O5 value, per the company's assay tables, with readings spanning 83 ppm to 227 ppm across the four holes.

Drilling had been suspended following a forest fire near the project camp and drill rigs. The company announced resumption of its Phase 2 Summer 2026 program on August 4, 2026, per its news release. Two drill rigs are now deployed to optimize the duration of the program. As of the August 12 release, eleven holes had been completed in the northeast corner of the Main Target Area for a total of 2,073 metres out of the 10,000-metre program target.

Rose West is a 100%-owned asset located in Eeyou Istchee, Québec. The discovery was initially intercepted over a 450 metre by 370 metre footprint in the winter of 2024. The current program targets expansion to approximately 1,250 by 2,000 metres and aims to extend the lateral continuity of at least two additional mineralized pegmatite bodies within the system — an overall footprint the company describes as a six-fold increase in surface expression from the original discovery area, per the August 12 news release.

The broader Rose Lithium Project — the flagship asset on the same property — carries a completed positive feasibility study reporting an after-tax net present value of US$1,915 million at an 8% discount rate and an after-tax internal rate of return of 82.4%, per the company's public disclosures on investingnews.com.

CRE.V was trading at CAD $0.2950 as of August 25, 2026, down 1.67% on the session, per Yahoo Finance quote data. A market capitalization figure of $58.01M was cited by The Motley Fool ahead of the August 12 release, though the precise share count and current cash position were not available in the sources accessed.

With 2,073 metres drilled against a 10,000-metre program target as of the August 12 release, per the company's news release, the Phase 2 program has the bulk of its meterage remaining. The August 12 release states the program aims to expand the mineralized footprint and extend the lateral continuity of at least two additional pegmatite bodies within the system.