New Strategic Agreement a Major Step Toward Turning Historic Canadian Oil Field into Leading Lithium Source

The lithium market is in desperate need of reliable suppliers. As gas prices soar, electric vehicle (EV) demand, which was already high, is growing even stronger around the world.1

Lithium is needed for the batteries to power all those in-demand EVs.

But a supply crisis of the silvery-white wonder metal, which has been made even worse due to volatility in Eastern Europe created by the Ukraine-Russia War …

Is threatening to stunt the EV market’s growth and prevent it from reaching the high sales numbers it could be generating.

If this is allowed to continue, the results could be “devastating,” according to Bloomberg, which recently wrote “if battery makers can’t get enough lithium, it would curb the expansion of clean-energy vehicles, making it harder to meet global emissions targets.”2

The current state of the market with its limited lithium supply and escalating demand already has China, which produces 80% of the world’s lithium-ion batteries, scouring Tibet to find more of the metal to mine.3

All of This is Why Reliable Lithium Producers Have Never Been in Greater Demand!

It’s also why big lithium stocks have taken off like rockets over the past year:

Albemarle Corp. shot up 41%!

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) saw its price rise a whopping 94.5%!        

But with the big names already having made big gains, investrs are wondering what producers will be next to benefit from the “perfect storm” conditions that currently exist in the lithium market?

One under-the-radar company that appears well-positioned to benefit from rising lithium demand is E3 Lithium (TSXV:ETL) (OTCQX:EEMMF)(TSXV:ETL) (OTCQX:EEMMF) Here’s why:

The Little-Known Company With the Massive Lithium Project

E3 Lithium owns more than 600,000 ha of brine permits in its Clearwater Project in industry-friendly Alberta, Canada. The holdings cover the Leduc Reservoir, where +7,000 oil and gas wells have already been drilled. Why is this important?

Because E3 Lithium is able to leverage +70 years of historical drilling data to gain an in-depth understanding of the site’s lithium potential at depth without the need for new, costly drilling!

In fact, that data helped lead to an exciting new strategic agreement between E3 Lithium and Imperial Oil Limited (TSX:IMO) (NYSEAmerican:IMO).

As part of the agreement, Imperial has agreed to invest USD$5.0 million into E3 Lithium (TSXV:ETL) (OTCQX:EEMMF)(TSXV:ETL) (OTCQX:EEMMF)

Also under the agreement, E3 Lithium will continue to operate the Clearwater Project and retain its IP, with technical and development support from Imperial in areas such as water and reservoir management.

In addition, the agreement includes access for E3 Lithium to freehold lands in the area, which are operated by Imperial. This access further establishes E3 Lithium’s already dominant land position in the area and completes a strategic, large and contiguous land block, providing long-term certainty on a development framework for the project.

Plus, the attention-grabbing Clearwater Project isn’t all that E3 Lithium has going for it either.

The Company Has Also Developed Groundbreaking Lithium Extraction Technology

E3 Lithium (TSXV:ETL) (OTCQX:EEMMF)(TSXV:ETL) (OTCQX:EEMMF) Direct Lithium Extraction (DLE) technology has consistently demonstrated:

  • Rapid kinetics, in minutes, not months
  • Peak lithium recoveries exceeding 90%, with capability for recoveries exceeding 95%
  • High contaminant rejection exceeding 98% removal

Compared to other lithium extraction methods including mining and evaporation ponds, or salars, E3 Lithium’s process:

  • Is faster – allowing lithium to be recovered in minutes, not months.
  • Has a much smaller land disturbance footprint – E3’s process requires less than 3% of the land of typical lithium projects and requires no evaporative ponds, mining waste dumps, open pit mines or tailings ponds.
  • Requires minimal fresh waterE3’s process only uses saline formation water from far below the groundwater table and returns the saline formation water back to where it came from. Large volumes of fresh water are not required.

E3 Lithium has already engaged an engineering firm to begin the design work for a field pilot plant that will demonstrate on a near commercial scale the company’s DLE process under real world operating conditions.4

The Field Pilot will be tied into an existing well that produces brine directly from the Leduc Aquifer in the Company’s Clearwater Project. This is the next stage of development, moving forward from the Company’s DLE lab-pilot prototype.

E3 Lithium Sees a Clear Opening in the Marketplace & is Taking Fast Action to Fill It!

Recent announcements show this is a company on the move. For instance:

  • E3 Lithium (TSXV:ETL) (OTCQX:EEMMF)(TSXV:ETL) (OTCQX:EEMMF) received a license for the first brine production well in Alberta for the purpose of evaluating lithium. E3 anticipates the start of drilling to occur before the end of June and anticipates completing the drilling operation by mid-July.5
  • E3 Lithium completed a seismic interpretation across the Clearwater Project Area to increase confidence and understanding of the Leduc Aquifer and the continuity between drill holes.6

E3 Lithium is making progress while maintaining a strong capital structure that includes a cash balance of $16 million (CAD), 57.8 million shares outstanding, and 6.6 million warrants outstanding with the value of unexercised warrants at $9.2 million (CAD).

To learn much more about E3 Lithium and how it is on track to delivering much-needed lithium to a marketplace that is literally starving for the precious metal, click on the link below.

Now is the time to do your due diligence and consider investing in the company before others catch on to its assets and growth potential.

1https://oilprice.com/Energy/Energy-General/The-World-Is-Scrambling-For-Lithium-Supply.html
2 https://www.bloomberg.com/news/features/2022-05-25/lithium-the-hunt-for-the-wonder-metal-fueling-evs
3 https://www.bloomberg.com/news/features/2022-05-25/lithium-the-hunt-for-the-wonder-metal-fueling-evs
4 https://www.e3lithium.ca/_resources/news/nr-20220421.pdf
5 https://www.e3lithium.ca/_resources/news/nr-20220608.pdf
6 https://www.e3lithium.ca/_resources/news/nr-20220308.pdf

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This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding E3 Lithium future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to E3 Lithium industry; (b) market opportunity; (c) E3 Lithium business plans and strategies; (d) services that E3 Lithium intends to offer; (e) E3 Lithium milestone projections and targets; (f) E3 Lithium expectations regarding receipt of approval for regulatory applications; (g) E3 Lithium intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Lithium expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute E3 Lithium business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Lithium ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) E3 Lithium ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) E3 Lithium ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of E3 Lithium to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) E3 Lithium operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact E3 Lithium business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Lithium business operations (e) E3 Lithium may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.

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