Final assays from Croinor phase 1 drilling confirm widespread reserve block extensions

MAY 18, 2011 – MONTREAL, QUEBEC – Critical Elements Corporation (TSX.V: CRE) (US OTCQX: CRECF) (FSE: F12) (“Critical Elements”) and Blue Note Mining Inc. (TSX.V: BNT) (“Blue Note”) are pleased to announce results from the final 12 holes of the first phase 2011 diamond drill program at the Croinor Gold Project located in Val-d’Or, Quebec.

The 2011 drill program which commenced in February, 2011 set out to increase Mineral resources and Mineral reserves laterally east and west along strike, within the current reserve block and at depth (see press release of December 6, 2010). This first phase of the Croinor drill program included 7,185 meters drilled in 23 holes.

All assays have now been received for holes drilled to test the host diorite sill to the west of the ore reserves reported in the July, 2010 43-101 compliant prefeasibility study. The assays confirm the potential to significantly increase the resource along strike to the west, and indicate the presence of gold mineralization near the footwall contact between the diorite dyke and volcanics. This is significant in that much of the historical drilling focused on testing the diorite dyke closer to the hanging wall without drilling through to the footwall of the dyke.

The results obtained for the 2011 drill program to date clearly demonstrate the potential to increase the Croinor mineral resource to the east of the current reserve (see press release dated 26 April 2011), within the current reserve block and to the west of the current reserves. The results also indicate the potential to increase the Croinor mineral resources at depth.

There is also a strong indication of gold mineralization at depth in the form of multiple lenses at depth. Intersections from holes drilled on Section 750W include 21.70 g/t gold over 1.0 meter and 28.15 g/t gold over 1.0 meter in CR-11-395, 9.62 g/t gold over 2.5 meters including 17.83 g/t gold over 0.8 meter in CR-11-398 and 44.04 g/t gold over 0.5 meter in CR-11-400. The drill holes on Section 750W are 50 meters west of planned development in the current ore reserves. Step-out drilling on Section 880W intersected 4.04 g/t gold over 1.3 meters that included 6.88 g/t gold over 0.5 meter, indicating continuity of gold mineralization further to the west.  Core analysis of the significant mineralized zones in the western extension of the Croinor deposit are presented in Table 1.
 
Table 1 – Mineralized Zones – Croinor Western Extension

Assays received for drill holes completed between sections 200E and  390W to test extensions of ore lenses proximal to the current ore reserves, returned up to 10.11 g/t gold over 0.9 meter in CR-11-390 and 6.35 g/t gold over 1.2 meters in CR-11-393. Core analyses of the significant mineralized zones within the current reserve block identified during this phase of the 2011 drill program are presented in Table 2.
 
Table 2 – Mineralized Zones – Croinor Reserve Block

Drilling has resumed with 2,000 meters planned in the next phase to follow up the western extension of the Croinor deposit.

The drill program was carried out by Forages La Virole and was supervised by InnovExplo personnel under Carl Pelletier P.Geo., a qualified and independent person as defined under NI 43-101 guidelines. Gold values were determined by fire assay and AAS, or fire assay and gravimetric analyses if over 3 g/t, at the ALS Laboratory Group, Minerals Division laboratory in Val d’Or.

Arthur Hamilton, P.Geo., Exploration Manager for Blue Note Mining Inc. is a Qualified Person as defined under NI 43-101 guidelines and has reviewed the technical information contained in this release.
 

About Critical Elements Corporation
Critical Elements is actively developing its 100%-owned Rose lithium-Tantalum flagship project located in Quebec. The project hosts a current Indicated resource of 11.4 million tonnes of 1.34% LI₂O and 165 ppm Ta₂O₅ and Inferred resource of 2.1 million tonnes of 1.27% LI₂O and 138 ppm Ta₂O₅.

Critical Elements has commissioned a prefeasibility study for the project from Genivar, one of the largest independent engineering firms in Canada. Genivar is also doing an environmental study, and Acme Metallurgical Ltd. of Vancouver is carrying out project metallurgy.

Critical Elements’ portfolio also includes rare-earth and Tantalum-Niobium projects in the Rocky Mountains of British Columbia and in Quebec, as well as a 50% interest in the Croinor project, which is located in Quebec and contains a measured and indicated resource of 814,228 tonnes at 9.11 g/t Au, for 238,414 ounces of gold at a 5 g/t cut-off.
 

About Blue Note Mining
Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with properties located in known gold regions of Canada, including the prolific Val-d’Or region of Quebec and northern New Brunswick.
 

Forward-looking statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company’s products, technical uncertainties associated with operating an underground mine and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
 

Critical Elements shareholders, please contact:
Jean-Sébastien Lavallée, P.Geo
President and CEO
819 824-2425

www.cecorp.ca

Relations publiques Paradox
514 341-0408

Blue Note shareholders, please contact :
Jean Mayer
Executive Vice President
800 937-3095 x 236

www.bluenotemining.ca