CALGARY, Alberta / Aug 23, 2023 / Business Wire / E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or “the Company,” Alberta’s leading lithium developer and extraction technology innovator, today announced it has successfully produced lithium carbonate, the last major step in a conventional process before conversion to battery quality lithium hydroxide monohydrate (LHM).

The test work used concentrate generated from brines located in E3 Lithium’s Clearwater Project Area, produced during the Direct Lithium Extraction (DLE) testing completed in preparation for the pilot plant.

E3 Lithium has engaged a major lithium refining technology and equipment vendor to develop the downstream lithium production processes in preparation for the upcoming Pre-Feasibility Study. The testing was conducted to treat a sample of concentrate, or eluate, produced by DLE technology. The test program has successfully progressed through the coarse purification and concentration phases, and the eluate has been converted into lithium carbonate. The final steps include further downstream polishing to achieve the desired purity and then conversion of the carbonate into battery-grade LHM.

As the pilot plant produces more concentrate, E3 Lithium will be creating more carbonate and LHM for commercial development purposes. Outlined in the picture below is a sample of the lithium carbonate produced during the current test program.

“Producing high quality carbonate from our Leduc brines with a major equipment vendor is an incredibly exciting milestone for the Company,” said Chris Doornbos, President and CEO of E3 Lithium. “While downstream lithium refining processes are already commercially operating, demonstrating the success of these processes on E3 Lithium’s brine provides more certainty for our commercial processes.”

The objectives of the test program are to validate the downstream flowsheet, generate data required for engineering design purposes and produce LHM for potential offtake partners. E3 Lithium will provide updates as its test program progresses.

Field Pilot Plant Commissioning Update

E3 Lithium is pleased to report that commissioning of its DLE field pilot plant is progressing. The Company anticipates beginning operations soon and will update the market when commissioning is complete.

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. 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.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.