CALGARY,
AB, April 27, 2023 /CNW/ - E3 LITHIUM LTD.
(TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), "E3" or the "Company,"
Alberta's leading lithium
developer and extraction technology innovator, confirms the filing
of its Annual Information Form ("AIF") for the year ended
December 31, 2022 on the System for
Electronic Analysis and retrieval ("SEDAR"). An electronic copy of
the AIF may be obtained on the Company's website at
www.e3lithium.ca or on the Company's SEDAR profile at
www.sedar.com.
Additionally, the Company has granted incentive stock options
("the options") to purchase a total of 225,000 common shares to
Kevin Carroll, Chief Development
Officer of the Company, in accordance with the provisions of its
stock option plan. The options have an exercise price of
$2.59 per share which was the close
price on April 10, 2023. The options
vest 25% each year over a period of four years with a five-year
expiry date.
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 16.0 million
tonnes of lithium carbonate equivalent (LCE) Measured and Indicated
and 0.9 million tonnes LCE Inferred mineral resources1
in Alberta. As outlined in E3's
Preliminary Economic 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. 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 Preliminary
Economic Assessment (PEA) for the Clearwater Lithium Project NI
43-101 technical report is amended Sept 17, 2021. The mineral
resource NI 43-101 Technical Report for the North Rocky Property,
effective October 27, 2017, identified 0.9Mt LCE (inferred). The
mineral resource NI 43-101 Technical Report for the Bashaw District
Project, effective March 21, 2023, identified 16.0Mt LCE (measured
& indicated). All reports are available on the E3 Lithium's
website (e3lithium.ca/technical-reports) and SEDAR
(www.sedar.com).
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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