E3 Lithium Outlines Drilling Update; Files Technical Report for More than Tripling of Inferred Resource in Bashaw District

E3 Lithium Outlines Drilling Update; Files

Technical Report for More than Tripling of

Inferred Resource in Bashaw District

CALGARY, AB

,

Sept. 1, 2022

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

EEMMF),

Alberta's

leading lithium developer and Direct Lithium Extraction (DLE) technology

innovator is pleased to provide an update on its drill program that began in June 2022.

E3 Lithium (E3) began drilling the first-in-

Alberta

brine production well for the purposes of evaluating

lithium on

June 24, 2022

and completed drilling operations on

July 7, 2022

. E3 is pleased to report it

has now finished completion and sampling operations on this well, which included retrieving brine

samples from five zones within the approximately 200-metre-thick Leduc Reservoir. The thickness of

the reservoir and the pressures found were in line with expectations.

The brine samples are being analyzed by a third-party laboratory to verify lithium concentrations and

will be reported once complete.

E3 began drilling its second well on

July 23, 2022

and reached its planned depth on

August 4, 2022

.

Brine samples retrieved from this well, located close to 20 kilometres southeast of the first well, will

also be analyzed by an independent third party to verify lithium concentrations and once complete,

results will be reported.

"We are extremely pleased with the progress we have made and the results achieved to date on the

first lithium evaluation wells in

Alberta

," said

Chris Doornbos

, President and CEO of E3 Lithium.

"Achieving the goals E3 set for the program and confirming our understanding of the Leduc

Reservoir increases the geologic confidence in our resource and supports us in meeting important

upcoming milestones, such as upgrading from Inferred resources to Measured and Indicated."

All wells E3 is drilling in 2022 for the purposes of evaluating lithium are in its Clearwater Project

Area, located in the Bashaw District.

On

July 11, 2022

,

E3 announced a significant increase to its inferred mineral resource

in the Bashaw

District to 23.4 million tonnes (Mt) of Lithium Carbonate Equivalent (LCE). With this increase and

E3's 0.9 Mt LCE outlined in the Rocky Area, E3's inferred resources total 24.3 Mt LCE, which is

substantial on a global scale.

The 23.4Mt LCE of inferred mineral resource is detailed in E3's NI 43-101 report, available on its

website

and

SEDAR

as of

August 23, 2022

.

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 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

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) 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/September2022/01/c9901.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 01-SEP-22