E3 Lithium Finishes Drilling its First Well; Completion and Sampling Program to Begin

E3 Lithium Finishes Drilling its First Well;

Completion and Sampling Program to Begin

CALGARY, AB

,

July 20, 2022

/CNW/ - E3 LITHIUM LTD. (TSXV: ETL) (FSE: OU7A) (OTCQX:

EEMMF),

Alberta's

leading lithium developer and Direct Lithium Extraction (DLE) technology

innovator, completed drilling its first well on

July 7, 2022

. E3 Lithium (E3) is now moving to

completion and sampling operations on this well, including retrieving brine samples to verify lithium

concentrations and production testing to confirm flow rates and deliverability from the Leduc

Reservoir.

Via its first well, E3 achieved its planned total depth of 2,670 metres, allowing for full data collection

including 36.9 metres of core sample. E3 will use the core to quantify reservoir parameters to help

validate the geological model and support the upgrade of its resource from Inferred to Measured

and Indicated, which is the basis of its Pre-Feasibility Study (PFS).

Reaching the planned total depth on E3's first well and successfully retrieving core sample from the

Leduc Reservoir is a significant achievement. The data that will be collected from this well will

greatly assist in validating the accuracy of the mapping and interpretation of the reservoir and

increasing confidence in the geological and reservoir modeling.

On

June 28, 2022

, E3 received a licence to drill its second brine production well for the purposes of

evaluating lithium in the Clearwater Project area, southeast of the

Town of Olds, Alberta

. E3 expects

to begin drilling operations next week and to complete the well by early August, at which point

completion and sampling operations can begin. Additional brine samples will be tested via this

second well to verify lithium concentrations.

"The progress we've made on our evaluation program is the result of significant effort from our

geosciences team and the importance

Alberta

has placed on exploring and producing critical

minerals," said

Chris Doornbos

. "Drilling a second well will help increase geologic confidence in the

Clearwater Project area and allow E3 to continue to advance its project towards pre-feasibility,

supporting the energy transition in

Alberta

."

All sampling and analysis of lithium concentrations will be conducted by independent third parties in

accordance with NI 43-101 guidelines.

About E3 Lithium

E3 Lithium is a development company with total of 24.3 million tonnes of lithium carbonate equivalent

(LCE) inferred mineral resources

1

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-tax

1

. 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

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For further information:

E3 Lithium - Investor and Media Relations, Robin Boschman, Director,

External Relations, [email protected], 587-324-2775

CO: E3 Lithium

CNW 03:05e 20-JUL-22