CALGARY, AB, Sept. 17, 2021 /CNW/ - E3 METALS CORP.
(TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3
Metals"), an emerging lithium developer and leading direct lithium
extraction ("DLE") technology innovator, reports that it has filed
an amended technical report titled "NI 43-101 Technical Report
Lithium Resource Estimate for the Exshaw West Property,
South-Central Alberta, Canada" effective June 15 2018, and dated September 17, 2021 (the "Amended Exshaw West
Technical Report"), and an amended technical report titled "E3
Metals Corp. NI 43-101 Technical Report Preliminary Economic
Assessment Clearwater Lithium Project Alberta, Canada" effective
November 16, 2020, and dated
September 17, 2021 (the
"Amended Clearwater PEA", and together with the Amended Exshaw West
Technical Report, the "Amended Technical Reports").
The Amended Technical Reports have been prepared to correct
minor, non-material deficiencies identified by the Alberta
Securities Commission. The Amended Clearwater PEA has been amended
to correct clerical errors and to clarify certain portions of the
report. Examples include: clarifications in Section 12 and in
Qualified Person statements, the revision of language in Section 14
to remove the word "production" in certain circumstances, and the
clarification of recommendations in Section 26 to be specific to
the next stage of project development towards a pre-feasibility
study. There were no changes to the report's conclusions,
recommendations, calculations or numerical values. There are no
material changes to the Amended Clearwater PEA.
The Amended Exshaw West Technical Report has been amended to
clarify certain portions of the report. Examples include
clarifications in Section 12 and in Qualified Person statements.
There were no changes to the report's conclusions,
recommendations, calculations or numerical values. There are no
material changes to the Amended Exshaw West Technical Report.
Copies of both Amended Technical Reports will be filed on SEDAR at
www.sedar.com.
The Amended Technical Reports have been prepared in accordance
with the disclosure and reporting requirements set forth in the
Canadian Securities Administrators' National Instrument 43-101 ("NI
43-101"), Companion Policy 43-101CP, and Form 43-101F1, as well as
with the Canadian Institute of Mining, Metallurgy and Petroleum's
"CIM Definition Standards For Mineral Resources and Reserves,
Definitions and Guidelines" adopted by the CIM Council on
May 10, 2014.
The Qualified Persons who prepared the Amended Clearwater PEA
are Gordon MacMillan P.Geol. of
Fluid Domains Inc., Damian
Bransby-Williams, P. Eng., of SCOVAN Engineering,
Scott Pattinson, P. Eng. of SCOVAN
Engineering, Werner Vorster, PhD,
P.Eng., C. Eng. of NORAM Engineering and Greg Owen, P. Eng. of GLJ Ltd. The Qualified
Persons who prepared the Amended Exshaw Technical Report are
prepared Gordon MacMillan, P.Geol,
of Fluid Domains Inc., and Grahame
Binks, MAusIMM, formerly of Sedgman Canada Limited and
currently of Pinnacle Processing Pathways.
About E3 Metals Corp.
E3 Metals is a lithium
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 Metals' goal is to produce
high purity, battery grade, lithium products. With a significant
lithium resource and innovative technology solutions, E3 Metals has
the potential to deliver lithium to market from one of the best
jurisdictions in the world.
For more information about E3 Metals, visit
http://www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President &
CEO
E3 METALS CORP.
1: The Preliminary Economic Assessment (PEA) of the Clearwater
Lithium Project NI 43-101 technical report is effective
Sept 17, 2021. E3 Metals 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 Sept 17, 2021; 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
Sept 17, 2021. All reports are
available on the Company's website
(e3metalscorp.com/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.