E3 Lithium Secures Site for Alberta’s First Lithium Production Facility

CALGARY, Alberta--(BUSINESS WIRE)--Nov 21, 2024--

E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce it has secured a strategic brownfield site for its Clearwater Project’s Central Processing Facility. Located on the former Dyck Gravel Pit land in Mountain View County or the “County”, the site is well situated for infrastructure, including accessible utilities and roadways, to support E3 Lithium's development of the first commercial lithium facility in Western Canada.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241121617088/en/

The County and E3 Lithium share the goal of limiting new disturbances in the area, and the acquisition of a brownfield site offers a unique opportunity to repurpose industrial land in order to help reduce overall project disturbance. The end-of-life gravel pit is centrally located in the Clearwater Project area to the east of Olds, Alberta. It will host the central facility where brine will be collected, lithium will be extracted and battery-grade lithium salts will be produced for incorporation into the North American battery supply chain.

The site is located adjacent to major power infrastructure and close to secondary highways and rail lines (see Figure below). As operations to produce lithium will be very similar to well-established energy industry operations, E3 Lithium is excited to engage Alberta’s skilled local workforce for drilling, construction and operations roles as the Company progresses the development of the Clearwater Project.

This Clearwater facility will be the first of its kind in Alberta, bringing substantial economic benefits to the local community through job creation and revenues for the County and Province. The Clearwater Project will serve as a catalyst for the lithium industry in Alberta by enabling broader expansion of lithium production across E3 Lithium’s other project areas, and the province of Alberta. The province boasts significant lithium resources, and the Company is taking steps that will enable Alberta to play a key role in the onshoring of lithium in Canada and North America, contributing to the global supply shortage of battery-grade lithium products.

E3 Lithium remains committed to ongoing engagement with local stakeholders and nearby residents throughout the development process, maintaining open channels of communication and addressing questions as they arise. Local landowners can expect to receive additional details on the Clearwater Project from E3 Lithium in the coming weeks.

A phase 1 commercial environmental assessment has been completed for the site and detected no material environmental concerns. The Company looks forward to creating lasting benefits that support both the County and Alberta’s broader economic and environmental objectives.

"We have a significant opportunity to build the Clearwater Project in an ideal location; repurposing an existing industrial site fits into the vision for E3,” said Chris Doornbos, President and CEO of E3 Lithium. “The site also happens to be easily accessible and surrounded by essential infrastructure for successful operations. This positioning is crucial for securing future growth pathways as the Company develops into a key player in the expanding global lithium market in Western Canada."

The land was secured under option from the County and will include provisions for a municipal reclamation cost. E3 Lithium takes on the obligation to rehabilitate and return the site to pastureland once commercial operations are completed.

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 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.9 million tonnes LCE Inferred mineral resources 2 in Alberta and 2.5 million tonnes LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. 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 Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium’s website ( https://e3lithium.ca/our-assets/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 or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as “believe”, “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “potential”, “possible” and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the estimated mineral resources and mineral resources at the Clearwater Project; expectations regarding the PFS, including statements regarding the results of the PFS and interpretations thereof; expectations concerning the Clearwater Project, including extraction, production, pretreatment, purification, volume reduction and conversion process and features and the expected outcomes thereof; the expected economic performance of the Clearwater Project, including capital costs, operating costs, water usage, land use and carbon emissions; statements regarding the Company’s strategy for minimizing environmental impact and liquid waste and maximizing water reuse, with no planned tailings or waste piles; the potential for a secondary revenue stream should the Company be able to sell the calcium carbonate generated during the production of lithium hydroxide; plans and objectives of management for the Company’s operations and the Clearwater Project; and the inherent hazards associated with mineral exploration and mining operations. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company’s expectations; that the current exploration, development, environmental and other objectives concerning the Clearwater Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Clearwater Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium.

All forward-looking information (including future-orientated financial 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, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company’s lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company’s profile on SEDAR+ 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.

(Photo: Business Wire)

NEW YORK (AP) — U.S. stocks are drifting around their records on Tuesday as Wall Street's white-hot rally lets off the accelerator.

The S&P 500 was down 0.2% in midday trading, a day after rising tech stocks helped it set an all-time high for the 54th time this year. It's climbed in nine of the last 10 days and is on track for one of its best years since the turn of the millennium.

The Dow Jones Industrial Average was down by 177 points, or 0.4%, as of 11:40 a.m. Eastern time, while the Nasdaq composite edged up by 0.1% from its own record set a day earlier.

AT&T helped lead the market with a gain of 3.9% after it raised its profit forecast for the full year. It also announced a $10 billion plan to send cash to its investors by buying back its own stock, while saying it expects to authorize another $10 billion of repurchases in 2027.

On the losing end of Wall Street was U.S. Steel, which fell 7.9%. President-elect Donald Trump reiterated on social media that he would not let Japan’s Nippon Steel take over the iconic Pennsylvania steelmaker.

Nippon Steel announced plans last December to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Earlier this year, President Joe Biden also came out against the acquisition.

Tesla slipped 1.5% after a judge in Delaware reaffirmed a previous ruling that the electric car maker must revoke Elon Musk’s multibillion-dollar pay package. The judge denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package.

In the bond market, Treasury yields held relatively steady after a report showed U.S. employers were advertising slightly more job openings at the end of October than a month earlier. Continued strength there would raise optimism that the economy could keep avoiding a recession that many investors had earlier thought was inevitable.

The yield on the 10-year Treasury edged up to 4.21% from 4.20% late Monday.

Yields have seesawed since Trump’s victory on Election Day amid worries that his preferences for lower tax rates and bigger tariffs could spur higher inflation along with economic growth. But traders are still confident the Federal Reserve will cut its main interest rate again at its next meeting in two weeks. They’re betting on a better than two-in-three chance of that, according to data from CME Group.

Lower rates can help give the economy more juice, but they can also give inflation more fuel.

The key report this week that could guide the Fed’s next move will arrive on Friday. It’s the monthly jobs report, which will show how many workers U.S. employers hired and fired during November. It could be difficult to parse given how much storms and strikes distorted figures in October.

Based on trading in the options market, Friday's jobs report appears to be the biggest potential market mover until the Fed announces its next decision on interest rates Dec. 18, according to strategists at Barclays Capital.

Since his victory, Trump has broadcasted his plans for tariffs, including for goods coming from China.

Trade relations between the U.S. and China took another step backward after China said it is banning exports to the U.S. of gallium, germanium, antimony and other key high-tech materials with potential military applications.

The counterpunch came swiftly after the U.S. Commerce Department expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China.

In financial markets abroad, the value of South Korea's currency fell 1.3% against the U.S. dollar after its president declared martial law. Stocks of Korean companies that trade in the United States also fell, including a 1.9% drop for SK Telecom.

Japan’s Nikkei 225 jumped 1.9% to help lead global markets. Some analysts think Japanese stocks could end up benefiting from Trump’s threats to raise tariffs on China and other countries.

Indexes rose 1% in Hong Kong and 0.4% in Shanghai amid unconfirmed reports that Chinese leaders would meet next week to discuss planning for the coming year. Investors are hoping it may bring fresh stimulus to help spur growth in the world’s second-largest economy.

In France, the CAC 40 rose 0.2% amid continued worries about politics in Paris, where the government is battling over the budget.

AP Business Writers Yuri Kageyama and Matt Ott contributed.

Holiday decorations are shown in front of the New York Stock Exchange in New York's Financial District on Tuesday, Dec. 3, 2024. (AP Photo/Peter Morgan)

FILE - Pedestrians cross Wall Street in New York's Financial District on Nov. 19, 2024. (AP Photo/Peter Morgan, File)

A person rides a bicycle in front of Tokyo Stock Exchange building Tuesday, Dec. 3, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of Tokyo Stock Exchange building Tuesday, Dec. 3, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Dec. 3, 2024. (AP Photo/Ahn Young-joon)

A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Dec. 3, 2024. (AP Photo/Ahn Young-joon)

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Dec. 3, 2024. (AP Photo/Ahn Young-joon)