CALGARY, Alberta, August 08, 2024–E3 LITHIUM LTD. (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce its plan to build a fully integrated Lithium Brine Demonstration Facility (the “Demo Project”) with the goal to produce battery grade lithium carbonate from brines located within the Leduc reservoir in Alberta. The Demo Project takes a significant step forward in the Company’s strategic plan to develop a commercial lithium facility that will reinforce western Canada as a major lithium resource jurisdiction.
The Demo Project will be an advancement from the successful Direct Lithium Extraction (“DLE”) pilot program conducted in 2023. The Company operated and evaluated multiple technologies, showcasing the technical feasibility of DLE technology including its own proprietary DLE. The 2023 pilot provided critical data used in the recently released Pre-Feasibility Study (“PFS”) validating the economic feasibility of lithium projects in Alberta.
The Demo Project will operate a fully integrated process that will include an increase in the scale of the DLE system and add into the processes for the purification, concentration and chemical conversion to continually process brine into battery grade lithium carbonate. Additional hydroxide developments will be conducted offsite. The objectives of the Demo Project are to unify the necessary components onsite into a fully integrated process replicating, as best as possible at a reduced scale, a commercial system. This will provide real-time data while the Company continues to design a commercial system through advanced engineering. It will also provide samples for commercial discussions with potential strategic partners. The Demo Project will enable the Company to continually optimize and de-risk each step of the flowsheet as it moves towards completing its feasibility study.
This facility is unique in Canada and will serve as an economic driver for Alberta’s battery supply chain. The Company will publish more details on the Demo Project over the coming months while it finalizes the design and operational aspects.
“We are thrilled to take this next step towards demonstrating the production of battery quality lithium carbonate from our Leduc Brine,” said Chris Doornbos, President and CEO of E3 Lithium. “E3 Lithium aims to be a direct supplier of products to the battery industry. The Demo Project is an important step towards progressing the Clearwater Project, providing samples to potential strategic partners and an overall advancement for lithium assets on a commercial scale in Alberta.”
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 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral resources1 in Alberta. As outlined in E3’s Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. 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 Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is amended Sept 17, 2021. Gordon MacMillan, P.Geol, QP, Fluid Domains Inc. and Grahame Binks, MAusIMM, QP (Metallurgy), formerly of Sedgman Canada Limited (Report Date: June 15, 2018, Effective Date: June 4, 2018, Amended Date: September 17, 2021). The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9Mt LCE (inferred). The mineral resource NI 43-101 Technical Report for the Bashaw District Project, effective March 21, 2023, identified 16.0Mt LCE (measured & indicated). All reports are 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. Forward looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking 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, competitive risks and the availability of financing, as described in more detail in our recent securities filings available 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
E3 Lithium – Investor and Media Relations
Alexis de la Renaudiere
Investor Relations
[email protected]
587-324-2775
