E3 Lithium Announces Filing of Q2 2022 Financial Statements and MD&A

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E3 Lithium Announces Filing of Q2 2022 Financial Statements and MD&A

Canada NewsWire

CALGARY, AB, Aug. 15, 2022 /CNW/ - E3 LITHIUM LTD. (TSXV: ETL) (FSE: OU7A) (OTCQX: EEMMF), Alberta's leading lithium developer and Direct Lithium Extraction (DLE) technology innovator is pleased to announce that it has filed its Consolidated Financial Statements for the second quarter of 2022 and the accompanying Management Discussion and Analysis on its SEDAR profile at www.sedar.com. The financial statements and MD&A will also be posted on E3 Lithium's website at www.e3lithium.ca.

About E3 Lithium

E3 Lithium is a development company with total of 24.3 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta.  As outlined in E3's Pre-liminary Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Lithium's goal is to produce high purity, battery grade lithium products. 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.

ON BEHALF OF THE BOARD OF DIRECTORS

Chris Doornbos, President & CEO
E3 Lithium Ltd.

1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Sept 17, 2021. The mineral resource NI 43-101 Technical Report over the North Rocky Resource Area (NRRA), effective October 27, 2017, identified 0.9Mt LCE (inferred). The Bashaw District resource estimate is outlined with the news release titled "E3 Lithium Outlines 23.4 Mt LCE Inferred Mineral Resource in Consolidated Bashaw District" dated July 11, 2022, the full technical report will be made available within 45 days of the news release date. All reports are available on the Company's website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com)

Forward-Looking and Cautionary Statements

This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking 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, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE E3 Lithium Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/August2022/15/c5171.html

Copyright CNW Group 2022

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