ETL.V · 2023-02-02 12:00:00

E3 Lithium on Track for Field Pilot in Q3 2023

Corporate Updates

CALGARY, AB

Feb. 2, 2023

/CNW/ - E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX:

EEMMF),

Alberta's

leading lithium developer and extraction technology innovator, is pleased to

provide an update on its Lithium Ion-Exchange (Li-IX) pilot plant to be constructed and operated in

the Clearwater Project Area this year.

Significant progress was made in 2022 and as a result,

E3 Lithium (E3) is on track to start

operations of the pilot plant in Q3 2023.

E3 is in the process of completing the final engineering,

design and construction plans for the plant with a goal of commissioning equipment on site this

summer.

The pilot plant will test Li-IX technology for direct lithium extraction at a larger scale under real-world

operating conditions. At pilot scale, demonstrating Li-IX technology enables significant de-risking of

the commercial design and is a crucial step in unlocking the value of E3's 24.3 million tonnes of

inferred lithium resources.

Pilot Plant Updates

Preliminary engineering complete:

E3 has completed Front-End Engineering and Design

(FEED) for the pilot plant, which outlines technical requirements and preliminary cost estimates

and forms the initial design basis.

Location selected

: Based on its 2022 drill program, and the consistent lithium concentration

results produced by its first three wells, E3 plans to locate its pilot plant at its

first well

location

and has submitted the required licence documentation to the Alberta Energy Regulator, which is

under review.

Final engineering and design commissioned

: E3 has awarded the Detailed Engineering and

Design for the pilot plant to Scovan Engineering and expects to move promptly into construction

once complete; details of the pilot will be provided upon completion of the detailed engineering.

Funding in place

: Construction costs for the plant are estimated to be between

$4M

and

$6M

CAD, with the final cost estimate to be completed during the detailed design. E3 has the funds

in place to construct and operate its pilot plant in 2023. Included in this is the non-dilutive

support from

Alberta Innovates

(

$1.8M

grant) and the

Government of

Canada's

Strategic Innovation Fund

(SIF) (up to 34% of pilot costs are

reimbursable).

"The pilot plant is a major milestone for the company, and we are extremely excited about the

progress we've made towards constructing and operating it this year," said

Chris Doornbos

President and CEO of E3 Lithium. "Demonstrating the Li-IX extraction technology in the field

advances the company significantly towards delivering battery grade lithium to market; it's the

paradigm shift needed for E3 to move towards our lithium plant design and eventual production."

Pilot Plant Design

The pilot plant will consist of two main parts. The first part is the ancillary equipment to move the

Leduc

brine water from the aquifer and perform the necessary pre-treatment required for the Li-IX

extraction process. The second part is the process equipment that houses the ion-exchange medium

that manages the extraction of the lithium from the

Leduc

brine and generates the concentrated

lithium fluid. As outlined in previous announcements, E3 has been developing multiple potential flow

sheets and the pilot is designed to be able to test several lithium extraction systems to define the

optimal commercial design.

E3 will continue to provide updates on its field pilot throughout 2023.

Join us for our Webinar Today

Join

Chris Doornbos

to learn more about E3's pilot plant update and what's in store for 2023 at our

webinar today.

Date:

Thursday, February 2, 2023

Time:

12 p.m. MST

2 p.m. EST

11 a.m. PST

https://redcloudfs.com/rcwebinar-etl-2/

About E3 Lithium

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

(LCE) inferred mineral resources

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-tax

. 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) for the Clearwater Lithium Project NI 43-101 technical report is effective 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 July 11, 2022, identified 23.4Mt LCE (inferred). All reports are available on the E3 Lithium'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

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/February2023/02/c3247.html

%SEDAR: 00011471E

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 02-FEB-23

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