Critical Metals Corp. (NasdaqGM:CRML) signed a binding heads of agreement to acquire a 42% interest in Tanbreez Greenland Rare Earth Mine from Rimbal Pty. Ltd. on June 5, 2024. Under the terms of the Heads of Agreement, the Company has the ability to acquire up to 92.5% of the Tanbreez Project over a multi-stage process. Initially, the Company would acquire a 5.55% interest in Tanbreez upon payment of $5 million in cash. After this initial investment, the Company would acquire an additional 36.45% of Tanbreez in exchange for the issuance of $90 million of newly issued ordinary shares of the Company (the ?Stage 1 Interest?). Subject to the Company first spending an additional $10 million in cash over a period of two years to further the development of the Tanbreez Project, the Company would have the option to acquire an additional 50.5% of Tanbreez in exchange for the issuance of $116 million of newly issued ordinary shares of the Company (the ?Stage 2 Interest?). If the Company consummates the acquisition of the Stage 1 Interest and the Stage 2 Interest, it would acquire an aggregate 92.5% interest in Tanbreez. European Lithium Ltd. owns the remaining 7.5% interest in Tanbreez. The Heads of Agreement values the Tanbreez Project at $211 million. As of June 19, 2024, Critical Metals Corp. has completed the initial investment as part of its plans to acquire a 92.5% controlling interest in the Tanbreez Greenland Rare Earth Mine from Rimbal Pty Ltd. Following the initial cash payment of $5 million to Rimbal, Critical Metals Corp now holds a 5.55% equity interest in the Tanbreez Project. The completion of this investment is a key step to acquire Tanbreez, a foundational rare earth asset for the West. By acquiring Tanbreez, Critical Metals Corp will be strategically positioned to become a reliable and sustainable supplier of both light and heavy rare earth elements to meet the growing demand of these materials from the technology and defense industries in western countries. With this development, the transaction is further de-risked.

Jett Capital Advisors, LLC and Cohen & Company Capital Markets, LLC acted as financial advisor and White & Case LLP acted as legal advisor to Critical Metals.