Highlights:
- E3 Lithium welcomes new additions to its team, including technical and corporate members who will help propel the Company’s growth and the advancement of the Clearwater Project
- The Company is looking forward to upcoming presentations in the U.S. and Canada in March, discussing North American energy security and methodologies for resource estimation in confined saline aquifers
CALGARY, Alberta–(BUSINESS WIRE)–$EEMMF #canadianenergy–E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce recent additions to its team to help progress towards commercializing the Clearwater Project and share its upcoming presentation schedule.
Since the beginning of 2024, E3 Lithium has expanded its subsurface team, welcoming a new senior reservoir engineer and transitioning a former E3 Lithium lab employee, who spent the last two years working on Direct Lithium Extraction (DLE) technology and is a Geoscientist in Training, to the team to support resource development. The Company has also welcomed three new employees to corporate functions, including a new executive assistant and head of staff, a financial accountant and a marketing and digital communications specialist, all of whom will help steward the Company’s growth and achievement of upcoming catalysts.
“The new additions to the E3 Lithium team, along with the expertise and experience they bring, will make a significant impact on our key focus areas in 2024,” said Chris Doornbos, President and CEO of E3 Lithium. “The milestones we achieve this year, including progressing advanced engineering studies, will outline how lithium will be produced commercially in Alberta and advance us toward operations. Continuing to build the team that will deliver these important pieces of work will allow us to accelerate our development.”
E3 Lithium is also looking forward to speaking at the following conferences in March.
Securing America’s Future Energy (SAFE) Summit
- Dates: March 12-13, 2024
- Location: Washington, DC
- Details: E3 Lithium will be attending Securing America’s Future Energy (SAFE) Summit from March 12 to 13, with Chris Doornbos, President and CEO, presenting at the Minerals and New Materials for Defense and the Energy Transition session on Tuesday, March 12.
Society of Petroleum Engineers Canadian Energy Technology Conference and Exhibition
- Dates: March 13-14, 2024
- Location: Calgary, Alberta
- Details: E3 Lithium’s Reservoir Manager, Kirsten Pugh, will deliver a presentation based on E3 Lithium’s 2023 Whitepaper titled Mining A Liquid: Case Study for Resource Evaluation Methodology in a Confined Saline Aquifer, Bashaw District, Central Alberta, Canada at the Clean Tech – Lithium session on Thursday, March 14.
E3 completed the issuance of options and RSUs as part of the Company’s yearly staff compensation, and to new hires that have recently joined the Company. The Company had a significant and successful 2023 and the team at E3 has been fundamental to that success. In light of that, and to protect E3’s balance sheet, the Company has granted 1,738,000 options (the “Options”) and 395,000 restricted share units (the “RSUs”) to certain directors, officers and employees of the Company under its omnibus equity incentive plan (the “Plan”). The Options are exercisable to acquire up to 1,738,000 common shares of the Company at a price of $1.58 per common share. The Options have terms and vesting provisions over a period of five years in line with the Company’s Plan. The 395,000 RSUs have terms and vesting provisions over a period of three years. Upon vesting, each RSU is redeemable for one common share of the Company in accordance with the Plan. The grant of the Options and RSUs is subject to approval by the TSX Venture Exchange.
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
Robin Boschman
Director, Investor Relations and Corporate Communications
[email protected]
587-324-2775
