Mr. Chris Doornbos reports

E3 LITHIUM TO RECEIVE $5 MILLION FROM THE GOVERNMENT OF ALBERTA FOR ITS FULLY INTEGRATED DEMONSTRATION FACILITY

The Alberta government is investing $5-million through the Emissions Reduction Alberta (ERA) Technology Innovation and Emissions Reduction (TIER) fund to support E3 Lithium Ltd.'s integrated lithium brine demonstration facility.

As announced on Aug. 8, E3 Lithium is constructing a Demo project at an increased scale that will allow for the operation of a fully integrated process that will help in achieving the company's goal of producing battery grade lithium carbonate from locally sourced brines in Alberta.

"There is a critical minerals race happening worldwide, and with investments like this one, Alberta is leading," said Rebecca Schulz, Minister of Environment and Protected Areas. "We are tapping into our province's plentiful brine reserves, well-documented drill sites and talented oil and gas work force to help E3 Lithium get its technology closer to commercialization, setting the stage for Alberta to become a global leader in lithium production while stimulating investment and creating jobs here at home."

"E3 Lithium exemplifies Alberta's entrepreneurial spirit," said Justin Riemer, chief executive officer, Emissions Reduction Alberta. "They saw an opportunity and developed an innovative strategy to capitalize on it, transforming industrial waste into a valuable energy source that can power your cell phone or your electric vehicle. Along with supporting the circular economy, the environmental and economic rewards of this kind of leading-edge technology directly align with the province's long-term goals."

"E3 is on the path to building a new industry in the province. As we prove the technology at an increasing scale, we increase the certainty that Alberta can be a major lithium-producing jurisdiction," Chris Doornbos, president and chief executive officer of E3 Lithium. "ERA's funding is crucial for developing a commercial facility and producing battery-grade lithium. This investment not only supports E3 but also opens new opportunities for the province and positions Alberta as a leader in critical minerals innovation."

This six-month Demo project near Olds, Alta., aims to purify, concentrate and chemically convert brine into battery-grade lithium carbonate, with additional hydroxide developments that will be conducted offsite. The Demo project will integrate necessary components into a reduced-scale commercial system, providing real-time data to assist in designing a full-scale commercial facility. This project will mitigate risks and gather crucial data on reservoir performance, production forecasts and well logistics, establishing E3 Lithium as the first company to lead such a demonstration project in Alberta and Canada.

About E3 Lithium Ltd.

E3 Lithium is a development company with a total of 16.2 million tonnes of lithium carbonate equivalent (LCE) measured and indicated as well as 900,000 tonnes LCE inferred mineral resources in Alberta and 2.5 million tonnes LCE inferred mineral resources in Saskatchewan. The Clearwater prefeasibility study outlined a 1.13-million-tonne LCE proven and probable mineral reserve with a pretax NPV8 (net present value, 8-per-cent discount rate) of $5.2-billion (U.S.) with a 29.2-per-cent IRR (internal rate of return) and an after-tax NPV8 of $3.7-billion (U.S.) with a 24.6-per-cent IRR. 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.

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