E3 Lithium Files Clearwater Project NI 43-101 Technical Report

On behalf of E3 Lithium Ltd

CALGARY, Alberta, July 30, 2024–E3 LITHIUM LTD. (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce that, in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), it has filed the technical report, entitled “Clearwater Project NI 43-101 Technical Report on Pre-Feasibility Study, Bashaw District Mineral Property, Central Alberta, Canada” with an effective date of June 20, 2024 (the “Technical Report”) summarizing the results of the Pre-Feasibility Study (the “PFS”) previously announced in the Company’s news release dated June 26, 2024. The Technical Report is available under the Company’s profile on SEDAR+ at www.sedarplus.com and on the Company’s website at www.e3lithium.ca.

During the final validation and completion of the PFS in the Technical Report, minor adjustments were made to the classification of capital and operating costs of the Clearwater Project. A summary of these changes is shown in the table below, compared to the originally reported figures.

chart E3 Lithium Files Clearwater Project NI 43-101 Technical Report

Finalized by the QP’s, the capital expenditure for carbonation is now reclassified to be included with the lithium extraction and purification unit costs. Economic metrics have been slightly adjusted, as the initial working capital has been excluded from the economic assessment and reclassified as a corporate cost. Abandonment costs and major maintenance are now included in capital expenditures rather than operating expenses.

The Technical Report was prepared for E3 Lithium by Daron Abbey, M.Sc., P. Geo of Matrix Solutions Inc; Alex Haluszka, M. Sc., P. Geo of Matrix Solutions Inc; Meghan Klein, P. Eng, of Sproule Associates Limited; Antoine Lefaivre, P. Eng, of Sedgman Canada Ltd.; and Keith Wilson, P. Eng., of Stantec Consulting Inc., each of whom is a “Qualified Person” as defined under NI 43-101 (collectively, the “Qualified Persons”). Each of the Qualified Persons prepared or supervised the preparation of the information that forms the basis of the PFS; has reviewed and approved the technical information in this news release within their area of expertise; and is independent of E3 Lithium.

We encourage readers to review the Technical Report in its entirety, including all assumptions, qualifications, and exclusions.

ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.

About E3 Lithium

E3 Lithium is a development company with a total of 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated¹ as well as 0.9 million tonnes LCE Inferred mineral resources² in Alberta and 2.5 million tonnes LCE Inferred mineral resources³ in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR¹. E3 Lithium’s goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.

1: The Clearwater Pre-Feasibility Study news release dated June 26, 2024 is available on the E3 Lithium’s website (e3lithium.ca/newsroom/news-releases/) and SEDAR+ (www.sedarplus.ca).

2: The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).

3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).

Forward-Looking and Cautionary Statements

This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as “believe”, “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “potential”, “possible” and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the estimated mineral resources and mineral resources at the Clearwater Project; expectations regarding the PFS, including statements regarding the results of the PFS and interpretations thereof; expectations concerning the Clearwater Project, including extraction, production, pretreatment, purification, volume reduction and conversion process and features and the expected outcomes thereof; the expected economic performance of the Clearwater Project, including capital costs, operating costs, water usage, land use and carbon emissions; statements regarding the Company’s strategy for minimizing environmental impact and liquid waste and maximizing water reuse, with no planned tailings or waste piles; the potential for a secondary revenue stream should the Company be able to sell the calcium carbonate generated during the production of lithium hydroxide; plans and objectives of management for the Company’s operations and the Clearwater Project; and the inherent hazards associated with mineral exploration and mining operations. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company’s expectations; that the current exploration, development, environmental and other objectives concerning the Clearwater Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Clearwater Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium.

All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company’s brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company’s lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

Contacts

E3 Lithium – Investor and Media Relations
Alexis de la Renaudiere
Investor Relations
[email protected]
587-324-2775

Visit here for a free report on E3 Lithium Ltd. (TSXV:ETL) (OTCQX:EEMMF)

Disclaimer

QUICK LINKS TO PREFERRED BROKERAGES

Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, E3 Lithium Ltd. Market Jar Media Inc. has or expects to receive from E3 Lithium Ltd’s Digital Marketing Agency of Record (Native Ads Inc.) approximately fifty-five thousand and eight hundred sixty CA dollars per month over a term of approximately twelve (12) months or until budget exhaustion as dictated by E3 Lithium Ltd.

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding E3 Lithium Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to E3 Lithium Ltd.’s industry; (b) market opportunity; (c) E3 Lithium Ltd.’s business plans and strategies; (d) services that E3 Lithium Ltd. intends to offer; (e) E3 Lithium Ltd.’s milestone projections and targets; (f) E3 Lithium Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) E3 Lithium Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Lithium Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute E3 Lithium Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Lithium Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of E3 Lithium Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) E3 Lithium Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact E3 Lithium Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Lithium Ltd.’s business operations (e) E3 Lithium Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, E3 Lithium Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does E3 Lithium Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither E3 Lithium Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of E3 Lithium Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Lithium Ltd. or such entities and are not necessarily indicative of future performance of E3 Lithium Ltd. or such entities.

8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.

PressReach

SEARCH FOR AN ARTICLE

PressReach

PressReach

E3 Lithium Files Clearwater Project NI 43-101 Technical Report

QUICK LINKS TO PREFERRED BROKERAGES

More News From This Company

E3 Lithium Ltd.

Company News

Don't Hestitate! Get The Corporate Presentation Now

PLUS

Don't Hestitate! Get The Corporate Presentation Now

PLUS

PressReach

Get Money Saving Tips

QUICK LINKS TO PREFERRED BROKERAGES

More News From This Company

E3 Lithium Ltd.

Company News

Don't Hestitate! Get The Corporate Presentation Now

PLUS

Don't Hestitate! Get The Corporate Presentation Now

PLUS

Get Money
Saving Tips