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E3 Metals Corp
Symbol ETMC
Shares Issued 53,188,906
Close 2021-09-17 C$ 2.02
Market Cap C$ 107,441,590
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E3 Metals files amended Exshaw, Clearwater reports

2021-09-17 15:49 ET - News Release

Mr. Chris Doornbos reports

E3 METALS FILES AMENDED TECHNICAL REPORTS

E3 Metals Corp. 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 Sept. 17, 2021, and an amended technical report titled "E3 Metals Corp. NI 43-101 Technical Report Preliminary Economic Assessment Clearwater Lithium Project Alberta, Canada," effective Nov. 16, 2020, and dated Sept. 17, 2021.

The amended technical reports have been prepared to correct minor, non-material deficiencies identified by the Alberta Securities Commission. The amended Clearwater preliminary economic assessment 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 toward a prefeasibility 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.

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 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, PGeol, of Fluid Domains Inc., Damian Bransby-Williams, PEng, of Scovan Engineering, Scott Pattinson, PEng, of Scovan Engineering, Werner Vorster, PhD, PEng, CEng, of Noram Engineering and Greg Owen, PEng, of GLJ Ltd. The qualified persons who prepared the amended Exshaw technical report are prepared Mr. MacMillan and Grahame Binks, MAusIMM, formerly of Sedgman Canada Ltd. and currently of Pinnacle Processing Pathways.

About E3 Metals Corp.

E3 Metals is a lithium development company with seven million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources in Alberta and a net present value at a discount of 10 per cent on its Clearwater lithium project of $1.1-billion (U.S.) with a 32-per-cent internal rate of return pretax and $820-million with a 27-per-cent IRR after tax. Through the successful scale-up of its DLE technology toward commercialization, E3's 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.

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