E3 Lithium on Track for Field Pilot in Q3 2023

CALGARY, AB, Feb. 2, 2023 /PRNewswire/ — E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), Alberta’s leading lithium developer and extraction technology innovator, is pleased to provide an update on its lithium-ion exchange (Li-IX) pilot plant under construction there the Clearwater project area is scheduled to be built and operated this year.

Significant progress was made in 2022 with E3 Lithium (E3) on track to commence pilot plant operations in Q3 2023 with a goal of commissioning on-site plants in the summer.

The pilot plant will test the Li-IX direct lithium extraction technology on a larger scale under real operating conditions. At pilot scale, the demonstration of Li-IX technology enables significant de-risking of the commercial design and is a critical step in unlocking the value of E3’s 24.3 million tonnes of Inferred Lithium Resources.

Pilot Plant Updates

Preliminary Engineering Complete: E3 has completed the front-end engineering and design (FEED) for the pilot plant, which outlines the technical requirements and preliminary cost estimates and provides the initial design basis. Selected Site: Based on its 2022 drill program and consistent lithium concentration results from its first three drill holes, E3 plans to construct its pilot rig at its first drill site and has submitted the required license documentation to the Alberta Energy Regulatory Authority under review. Final Engineering and Design Commissioned: E3 has commissioned Scovan Engineering to provide detailed engineering and design for the pilot plant and expects to begin construction immediately upon completion; Details of the pilot project will be announced once detailed engineering is complete. Funding Available: The construction cost of the facility is estimated at $4-6 million with final cost estimation to be completed during detailed design. E3 has the funds to build and operate its pilot plant in 2023. This includes non-dilutive support from Alberta Innovates ($1.8M grant) and the Canadian Government’s Strategic Innovation Fund (SIF) (up to 34% of pilot costs are eligible).

“The pilot plant is an important milestone for the Company and we are very pleased with the progress we have made in construction and operations this year,” said Chris Doornbos, President and CEO of E3 Lithium. “The field demonstration of Li-IX extraction technology moves the Company significantly towards bringing battery grade lithium to the market; it is the paradigm shift E3 needs to move towards our lithium plant design and eventually production.”

test facility design

The pilot plant will consist of two main parts. The first part is the ancillary equipment to move the Leduc brine water from the aquifer and perform the necessary pre-treatment required for the Li-IX extraction process. The second part is the process equipment that houses the ion exchange media that manages the extraction of the lithium from the Leduc brine and produces the concentrated lithium liquor. As outlined in previous announcements, E3 has developed several potential flowcharts and the pilot project is designed to test several lithium extraction systems to define the optimal commercial design.

E3 will continue to provide updates on its field pilot throughout 2023.

Join our webinar today

Join Chris Doornbos to learn more about E3’s pilot plant update and upcoming developments for 2023 in our webinar today.

Date: Thursday February 2, 2023
Time: 12pm MST / 2pm EST / 11am PST
Registration: https://redcloudfs.com/rcwebinar-etl-2/

About E3 lithium

E3 Lithium is a developer with a total of 24.3 million tonnes of Lithium Carbonate Equivalent (LCE) Inferred Mineral Resources1 in Alberta. As outlined in E3’s Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of $1.1 billion with a 32% pre-tax IRR and $820 million with a 27% post-tax IRR1. By successfully scaling its DLE technology towards commercialization, E3 Lithium’s goal is to produce high-purity, battery-grade lithium products. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to bring lithium to market from one of the premier jurisdictions in the world.

ON BEHALF OF THE BOARD OF DIRECTORS

Chris Doornbos, President and CEO
E3 Lithium Ltd.

1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 Technical Report is effective September 17, 2021 Mt LCE (Inferred). The NI 43-101 Mineral Resource Technical Report for the Bashaw District Project, effective July 11, 2022, identified 23.4 million tonnes of LCE (Inferred). All reports are available on E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com).

Forward-Looking and Cautionary Statements

This press release contains certain forward-looking statements, as well as management’s goals, strategies, beliefs and intentions. Forward-looking statements are often identified by words such as “may,” “will,” “plan,” “expect,” “anticipate,” “estimate,” “intend” and similar words as they relate to future events and results. Forward-looking statements are based on management’s current beliefs and expectations. All forward-looking information is inherently uncertain and is 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 new lithium extraction technologies that have not yet been tested or become commercial scale or proven in the Company’s brine, competitive risks and the availability of financing as more fully described in our most recent securities filing available at www.sedar.com. Actual events or results could differ materially from those projected in the forward-looking statements and we caution not to place undue reliance on them. We undertake 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 Lithium

For more information: E3 Lithium – Investor and Media Relations: Robin Boschman, Director, External Relations, [email protected]587-324-2775