CBLT Reports Results from Shatford Lake (Lithium)

Burlington, November 30, 2021 - CBLT Inc. (TSXV: CBLT) ("CBLT") is excited to report the results from its first sampling program at Shatford Lake, Manitoba in the Bird River Pegmatite Field.

Based in part on guidance from historical field notes and drill logs, CBLT's field team located and sampled several pegmatite outcrops during the 2021 field season. A total of 14 samples were collected. Results have now been returned.

"Our first round of exploration at Shatford Lake was a good one," said Peter M. Clausi, CBLT's CEO. "The results are consistent with what one would expect from LCT pegmatites in the Bird River Pegmatite Field, which means our geologic goals were achieved. We are eager for 2022 so we can get back in the field."

Several samples were elevated in rubidium (see table below) and some samples were also anomalous for cesium and tantalum. This geochemistry indicates the pegmatites in the area are LCT type (lithium-caesium-tantallum) and are highly prospective for further lithium exploration.

Figure 1

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One sample, 14210, was inadvertently taken immediately adjacent to CBLT's Shatford Lake property. This sample returned 0.534% Li₂O and 0.62% Rb₂O. Though this sample was taken off CBLT's property it gives an indication of the presence of lithium-bearing LCT pegmatites in the area. The structure hosting this sample has been inferred to cross back onto CBLT's property, and will be followed and sampled in future exploration programs.

All the above samples were from pegmatites on the western side of Shatford Lake near where a structure has been mapped by CBLT. The field program will continue in 2022 with further sampling and mapping of as much of Shatford Lake as possible.

In addition to that data, part of the reason for CBLT's enthusiasm about Shatford Lake is its proximity to the Tanco Mine, which also hosts LCT pegmatites. It has been estimated that Tanco's lithium reserves are 7.3 million tonnes at 2.76% Li2O (GSWA Mining Bulletin No. 22, page 66). This is a historical third party estimate from 1991 and CBLT has no information as to the methodology used to calculate this estimate or whether it was carried out under the supervision of a Qualified Person, as that term is defined in NI43-101. Readers are cautioned not to rely upon this estimate.

The historical field notes referred to above also noted several other areas at Shatford Lake where pegmatites were observed, but CBLT was not able to visit these in 2021 due to extensive forest fires, the commandeering of helicopters by the province of Manitoba, and an early deep snowfall. Mapping and sampling are planned for these areas in the 2022 season.

To provide further technical support, CBLT is pleased to announce the appointment of Dr. Lesley Rose to its board of directors. Dr. Rose has over 10 years' experience working as a geologist in the exploration industry in northwestern Ontario. She has most recently been focused on gold exploration around the Hemlo camp as a Senior Geologist with Hemlo Explorers Inc. Dr. Rose has experience with QA/QC, data management, compositional analysis, technical report writing, academic research and university teaching.

QA/QC

Samples were analyzed by AGAT Labs in Mississauga, Ontario by sodium peroxide fusion with an ICP-OES finish. Jessica Daniel, P.Geo., supervised the field work and is the Qualified Person for this release.

CONTACT INFORMATION
Peter M. Clausi
CEO and Director
1 416 890 1232
pclausi@cbltinc.com
@ClausiPeter

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