Jun 29, 2022 E3 Lithium

E3’S Lithium Used to Produce Lithium Metal Battery

 
E3 Lithium

CALGARY, AB, June 29, 2022 – E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) (the “Company” or “E3 Lithium” or “E3”), Alberta’s leading lithium developer and Direct Lithium Extraction (DLE) technology innovator has created its first successful battery through a collaboration with Pure Lithium. Pure Lithium used lithium produced from E3’s DLE technology to create the lithium metal that was used to produce a pouch cell battery. The goal of this initial testing was to demonstrate the proof of concept. The two companies have now signed a Memorandum of Understanding (MOU) to complete further testing and validation work.

E3 has been working with Pure Lithium, who is advancing lithium metal processes and battery manufacturing. E3 Lithium’s (TSXV:ETMC)(OTCQX:EEMMF) goal is to ensure it has a diverse offering of products to meet the growing and changing landscape of the lithium battery and Electric Vehicle (EV) market. While the strong market for high nickel cathode chemistry batteries will likely mean E3 Lithium’s (TSXV:ETMC)(OTCQX:EEMMF) first phase of its production will be lithium hydroxide, E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) believes lithium metal will be a critical component in the next generation of lithium batteries.

“Creating the first battery using our lithium is a major accomplishment for E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF),” said Chris Doornbos, CEO of E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF). “This small application proves the functionality of our product and assists in validating our business plans into the future. While E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) is focused on manufacturing lithium hydroxide to supply the burgeoning lithium-ion battery market for EVs, we believe lithium metal and solid-state batteries are likely to become a large part of the market.”

E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) provided its lithium concentrate to Pure Lithium who produced a pure lithium metal electrode (lithium on a copper substrate), using its proprietary process. Pure Lithium then verified the purity via ICP-OES and subsequently built a small pouch cell battery.

Given the success of producing lithium metal in the initial test program, the two companies have signed a MOU. The goal of this MOU is to complete a series of testing over the next six to nine months to define how E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) and Pure Lithium’s technologies can be combined to produce a commercially viable production process for both lithium metal electrodes and batteries.

“We are excited by these proof-of-concept results,” said Emilie Bodoin, Founder and CEO of Pure Lithium. “Our collaboration with E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) is very important to us as we work to secure sources of lithium for our future batteries.”

About E3 Lithium

E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) is a development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium’s (TSXV:ETMC)(OTCQX:EEMMF) goal is to produce high purity, battery grade lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) has the potential to deliver lithium to market from one of the best jurisdictions in the world.

1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF) has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective December 21, 2020; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE (inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated June 4, 2018. All reports are available on the Company’s website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)

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.sedar.com. 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.

SOURCE e3 Metals Corp.

SOURCE E3 Lithium (TSXV:ETMC)(OTCQX:EEMMF)

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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 Metals Corp.’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 Metals Corp.’s industry; (b) market opportunity; (c) E3 Metals Corp.’s business plans and strategies; (d) services that E3 Metals Corp. intends to offer; (e) E3 Metals Corp.’s milestone projections and targets; (f) E3 Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) E3 Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Metals Corp.’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 Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) E3 Metals Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) E3 Metals Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) 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 Metals Corp. 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 Metals Corp.’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 Metals Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Metals Corp.’s business operations (e) E3 Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, E3 Metals Corp. 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 Metals Corp. 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 Metals Corp. 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 Metals Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Metals Corp. or such entities and are not necessarily indicative of future performance of E3 Metals Corp. or such entities.