05:45:33 EDT Sat 19 Sep 2020
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or Name

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E3 Metals Corp
Symbol ETMC
Shares Issued 30,477,400
Close 2020-03-26 C$ 0.24
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E3 Metals acquires 36,434 ha at Alberta Li project

2020-03-26 06:26 ET - News Release

Mr. Chris Doornbos reports


E3 Metals Corp. has acquired five new strategic metallic and industrial minerals permits directly from the Alberta government, adding 36,434 hectares to E3's overall permit area.

In conjunction with the company's continuing development of its proprietary ion exchange direct lithium extraction process (DLE), E3 Metals is continuously evaluating additional value creation opportunities to grow its project base. The five new permits acquired have been under review for several years as they occur along the highly prospective Meadowbrook-Rimbey Leduc reef trend. This area is an extension of E3's existing Alberta lithium project, located just north of E3's North Rocky resource area (NRRA), which hosts a lithium deposit of 930,000 tonnes of lithium carbonate equivalent (LCE) (see news release dated Nov. 20, 2017). This prospective geological trend contains hundreds of wells that have been drilled to the Leduc reservoir, with many currently active today. Collectively, these wells are producing a combination of oil, gas and lithium-enriched brine. Infrastructure along the trend presents abundant brine sampling and repurposing opportunities, which could minimize environmental impacts for a commercial lithium production project.

Historical data available from the Leduc reservoir in this area indicate that the brine is enriched in lithium. E3 Metals plans to conduct sampling with several of its collaborative oil and gas partners to confirm the concentrations of lithium within this new area.

The company also released five non-prospective metallic and industrial minerals permits located at the south end of the company's permit area, which were originally staked in 2017. Releasing the permits was part of E3's strategy to prioritize areas with realistic commercialization potential. E3 now holds a total of 591,144 hectares or 1.46 million acres of metallic and industrial minerals permits in Alberta.

E3 Metals is looking forward to an exciting year ahead. For a comprehensive overview of E3 Metals, the company welcomes investors to view the recent chief executive officer interview with Chris Doornbos. E3 Metals was also recently mentioned in the Financial Times.

About E3 Metals Corp.

E3 Metals is a lithium development company with 6.7 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources (1) in Alberta. E3 Metals is currently advancing its proprietary ion exchange direct lithium extraction process (DLE process) in partnership with Livent under a joint development agreement. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada.

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