CALGARY,
AB, Jan. 25, 2023 /CNW/ - E3 LITHIUM LTD.
(TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), Alberta's leading lithium developer and
extraction technology innovator, is excited to announce it has
acquired the last remaining tenure for metallic and industrial
minerals in the Exshaw Area of the
Bashaw District.
The permit was acquired directly from the Government of
Alberta and covers 4,606 hectares.
In addition to increasing E3 Lithium's (E3) permit area, it ensures
a continuous land position in the Bashaw District, in which first commercial
operations are planned.
Adding Volumes to E3's
Resource
The newly acquired permit will be included in E3's upcoming
technical report where it is likely to contribute additional
resource volumes to E3's already significant 24.3 million tonnes of
inferred lithium resources. The upcoming report will outline
upgrades to E3's resource from Inferred to Measured and
Indicated.
"The small section of tenure has been previously held by another
party since E3 started to acquire mineral rights in this area in
2017," said Chris Doornbos,
President and CEO of E3 Lithium. "Now staked by E3, this last piece
of tenure ensures full access to our entire resource area and
underscores our commitment to our asset and to progressing our
commercial development."
About E3 Lithium
E3 Lithium is a development company with 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 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 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 deliver lithium to market from one
of the best jurisdictions in the world.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President &
CEO
E3 Lithium Ltd.
1: The Preliminary
Economic Assessment (PEA) for the Clearwater Lithium Project NI
43-101 technical report is effective 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 July 11, 2022, identified 23.4Mt LCE (inferred).
All reports are available on the E3 Lithium's website
(e3lithium.ca/technical-reports) and SEDAR
(www.sedar.com).
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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 Lithium