Critical Resources : Visual Massive and Semi Massive Mineralisation at Depth

17 March 2022

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Visual Massive and Semi Massive Mineralisation Demonstrates

Further Depth Potential at Gibsons

Critical Resources Limited (ASX:CRR) ("Critical Resources" or the "Company"), is pleased to advise that it has encountered further visual massive and semi-massive mineralisation1 in Hole CRR21DD_07A (Hole 07A), indicating further depth potential of the Halls Peak system.

Highlights

• Visual massive and semi-massivebase-metal sulphide mineralisation intersected over 6.6m from 98-104.6m downhole 1
• Chalcopyrite, sphalerite and galena mineralisation intersected
• Hole 07A represents a previously untested, undrilled step out area
• Depth of mineralisation continues to demonstrate the potential extent of the Halls Peak system
• Further drilling at Gibsons before relocating to Sunnyside
• Assays for Holes 11A, 02, 02A and 04 pending at ALS laboratory in Brisbane
• Previously announced step out Holes 09 and 11A also detected mineralisation at previously unknown depths (see ASX Announcement 17 January 2022)

Figure 1: Close up images of half core with pyrite-chalcopyritesphalerite-galena mineralisation (Diamond drill hole CRR21DD_07A,

Scale: NQ core 50mm diameter variety)

1In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of sulphide and oxide material abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available.

Critical Resources Ltd | Level 11, 40 The Esplanade, Perth, WA, 6000 | P: [phone] | web:criticalresources.com.au

Email: [e-mail] | ABN 12 145 184 667 | ASX:CRR

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The Company is pleased to report further visual intersections visual massive and semi-massive mineralisation in Hole 07A, indicating further depth potential of the Halls Peak system. Mineralisation was intersected over 6.6m from 98-104.6m downhole. The abundances of the primary base metals are typically sphalerite dominant with lesser galena and minor chalcopyrite

Critical Resources Managing Director Alex Biggs said: "We are pleased that we continue to see massive sulphide mineralisation at Gibsons. What really gets us excited is seeing strong mineralisation at depths across multiple holes, depths which have previously been untested. The Halls Peak system continues to provide us with excellent results, we look forward to continuing our drill program at Halls Peak and will continue to update the market in due course".

Base Metal Sulphide Intersections in Hole 07A

Sphalerite- Galena-Chalcopyrite-mineralisation, described below in order of relative abundance, has been intersected in Hole 07A north of the Gibsons Open Cut mine workings on EL4474 near Halls Peak, New South Wales. The abundances of the primary base metals are typically sphalerite dominant with lesser galena and minor chalcopyrite.The mineralisation is hosted by pyritic chert breccia.

97-98m	Brecciated cherty pelite with disseminated pyrite-chalcopyrite
	mineralisation.
98-99.9m	Strongly mineralised chert breccia,sphalerite dominant- lesser galena,
	minor chalcopyrite. Banded and massive in places.
99.9-101.4m	Vugg-y, intensely silicified chert breccia, pyritic, with disseminations and
	stockwork veins of chalcopyrite, ~1% chalcopyrite.
101.4-102.5m	Chert breccia containing abundant sphalerite, lesser galena and minor
	chalcopyrite. The sulphides are crudely banded, but disseminated
	throughout the rock.
102.5-104.6m	As above but chalcopyrite mineralisation dominant, lesser sphalerite and
	galena.

This intensely mineralised zone is contained in a broader envelope of lower grade disseminated pyrite-sphalerite mineralisation.

Note:Descriptions of the amounts of base metal sulphide seen and logged in the core of Hole 07A (above), are qualitative, visual estimates (they are listed in order of abundance of estimatedmated combined percentages of sphalerite -zinc mineral, galena-lead mineral, chalcopyrites-copper mineral). Quantitative assays will be completed by an ALS laboratory in Brisbane.

Critical Resources Ltd | Level 11, 40 The Esplanade, Perth, WA, 6000 | P: [phone] | web:criticalresources.com.au Email: [e-mail] | ABN 12 145 184 667 | ASX:CRR

Figure 2: Sulphide Mineralisation intersected in Hole 07A (Diamond drill hole CRR21DD_07A, Scale: NQ core 50mm diameter variety)

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Critical Resources Ltd | Level 11, 40 The Esplanade, Perth, WA, 6000 | P: [phone] | web:criticalresources.com.au

Email: [e-mail] | ABN 12 145 184 667 | ASX:CRR

Figure 3: Gibsons Prospect Hole Layout (drilled holes in red)

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Critical Resources Ltd | Level 11, 40 The Esplanade, Perth, WA, 6000 | P: [phone] | web:criticalresources.com.au Email: [e-mail] | ABN 12 145 184 667 | ASX:CRR

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Halls Peak Project Description

The 100% owned Halls Peak project is located in New South Wales approximately 45km SouthEast of Armidale in the New England Fold Belt, an area well known for its mineral endowment and production. The Halls Peak massive sulphide deposits were discovered in 1896 where near surface mining extracted high-grade Zinc, Lead, Copper and Silver. More recent near surface exploration has been conducted by Precious Metal Resources Limited, Sovereign Gold Company Limited (now Critical Resources Limited) and Force Commodities Limited (now Critical Resources Limited) yielding high-grade intercepts to a depth of approximately 150m at the Gibsons prospect. Some near surface historic mining has occurred around the Sunnyside prospect.

Previous drilling results includes:

Critical Resources Limited - ASX Announcements

3.6 metres @ 15.06% Zn, 8.38% Pb, 0.69% Cu, 37.51g/t Ag, 0.09g/t Au (refer ASX Announcement dated 09 March 2022)

7.53m @ 4.20% Zn, 1.92% Pb, 0.39% Cu, 19.15g.t Ag, 0.11g/t Au

7.18m @ 3.63% Zn, 1.89% Pb, 0.77% Cu, 15.82g/t Ag, 0.09g/t Au 1.28m @ 13.5% Zn, 4.75% Pb, 0.71% Cu, 21.5g/t Ag, 0.09g/t Au (refer ASX Announcement dated 21 February 2022)

5.30m @ 26.29% Zn, 12.49% Pb, 1.28% Cu, 49.18g/t Ag, 0.15g/t Au 5.99m @ 8.17% Zn, 4.33% Pb, 0.84% Cu, 25.36g/t Ag, 0.13g/t Au (refer ASX announcement dated 09 February 2022)

12.45m @ 10.91% Zn 5.73% Pb , 1.15% Cu, 331.63g/t Ag and 1.50g/t Au (refer ASX announcement dated 11 January 2022)

1Sovereign Gold Company and Force Commodities Limited - ASX Announcements 11.3m @ 15.18% Zn, 8.02% Pb, 597g/t Ag, 1.61% Cu from hole SG-03

(refer ASX announcement dated 15 December 2016)

11.2m @ 19.71% Zn, 10.77 % Pb, 134.96 g/t Ag, 0.8% Cu from hole SG-06 (refer ASX announcement dated 29 December 2016)

7.2m @ 20.19% Zn, 7.17 % Pb, 30.93gpt Ag, 0.66% Cu from hole SG-05 (refer ASX announcement dated 29 December 2016)

5.7m @ 9.44% Zn, 7.09% Pb, 155g/t Ag, 0.53% Cu from hole SG-03 (refer ASX announcement dated 15 December 2016)

2Precious Metal Resources Limited - ASX Announcements

37.2m @ 8.7% Zn, 3.0% Pb, 85g/t Ag, 1.4% Cu from hole DDH HP 026 (refer to ASX announcement dated 03 January 2014)

7.45m @ 8.88% Zn, 3.11% Pb, 22 g/t Ag, 0.56% Cu from hole DDH HP 027 (refer ASX announcement dated 15 January 2014)

1,2The information required pursuant to listing rule 5.7 is included in ASX announcement dated 08 July 2021

Halls Peak is considered to have potential to contain world class deposits similar to those already being mined in north Australia. The project area comprises multiple historic mines and prospects including Gibsons, Sunnyside, Firefly, Faints, Khans Creek, Keys and Mickey Mouse. All current exploration activities are focused on exploration licence EL 4474 with primary targets being the Gibsons and Sunnyside prospects. A summary of the project location is shown in Figure 4.

Critical Resources Ltd | Level 11, 40 The Esplanade, Perth, WA, 6000 | P: [phone] | web:criticalresources.com.au Email: [e-mail] | ABN 12 145 184 667 | ASX:CRR