E3 Lithium Receives Conditional Approval for up to C$36.5 million in Federal Government Funding to Accelerate its Clearwater Project Funding to advance Demonstration Facility construction and operations along with critical engineering for
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E3 Lithium Receives Conditional Approval for up to C$36.5 million in
Federal Government Funding to Accelerate its Clearwater Project
Funding to advance Demonstration Facility construction and operations along with critical engineering for
the completion of the Clearwater Project Feasibility Study to bring the project to final investment decision
CALGARY, ALBERTA, March 2, 2026 – E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3
Lithium” or the “Company,” a leader in Canadian lithium development, has been conditionally approved
for up to C$36.5 million of non-repayable funding through the Government of Canada’s Global Partnerships
Initiative (GPI) (the “Funding”), to accelerate the development of its Clearwater Project.
The Funding supports 75% of the forecasted $48 million project to complete E3's Demonstration Facility
Phase 3 and its Clearwater Project Feasibility Study. With the Funding, E3 will accelerate and expand the
scope of the Demonstration Facility that will enable the Company to build and operate its third phase
(see E3’s corporate presentation), located east of Olds, Alberta. Phase 3 of the Demonstration Facility will
include a single, full-sized commercial column, expected to produce the carbonate equivalent of 100
tonnes per year in lithium chloride. The Funding will also support the Company's Front End Engineering
Design (FEED) that will form part of the Clearwater Project's Feasibility Study and the technical staff
involved in the project, including hiring an additional 25 full time positions.
The Funding will enable the ongoing production of battery-grade lithium carbonate at an increased scale,
de-risking E3’s Direct Lithium Extraction (DLE) technology on a 1:1 scale commercial column and finalize
Clearwater Project engineering to enable a Final Investment Decision (FID), including a Class 3 cost
estimate.
Support from the GPI represents a strong vote of confidence from the Government of Canada in the role
E3 Lithium will play in advancing reliable and secure supply chains, and in the expansion of Canada’s and
its allies’ defence industrial base. E3 Lithium is proud to be leading this project in collaboration with Axens
Group, a France-based global provider of clean energy solutions and technologies, and ABB, a Switzerland-
headquartered leader in electrification and automation.
The funding is conditional upon the completion of customary due diligence and the execution of a
contribution agreement.
“Canada is putting real capital behind the secure and reliable critical mineral supply chains that our
economies and defence industries rely on,” said the Honourable Tim Hodgson, Minister of Energy and
Natural Resources. “By supporting companies like E3 Lithium, we are helping deliver the minerals the world
needs and the prosperity and security Canadians deserve.”
“Canada has a generational opportunity to lead in critical minerals, and this support from the federal
government reinforces the importance of developing lithium resources responsibly and innovatively,” said
Chris Doornbos, President and CEO of E3 Lithium. “This investment allows us to move rapidly toward
commercial production while contributing to Canada’s energy security and economic growth. E3 is on track
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to be one of the first commercial lithium projects to come on-stream in Canada, creating jobs and future
opportunities for all Canadians.”
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President, CEO & Chair
E3 Lithium Ltd.
E3 Lithium - Investor Relations
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E3 Lithium - Media Inquiries
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About E3 Lithium
E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent
(LCE) Measured and Indicated1 as well as 0.3 Mt LCE Inferred mineral resources2 in Alberta. The Clearwater
Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre -tax NPV(8%)
of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV(8%) of USD 3.7 Billion with a 24.6% IRR1.
1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, identified 16.2 Mt LCE
(measured and indicated) and is available on the E3 Lithium’s website (www.e3lithium.ca/technical-
reports/) and SEDAR+ (www.sedarplus.ca).
2: The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate,
effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and
is available on the E3 Lithium’s website (www.e3lithium.ca/technical-reports/) and SEDAR+
(www.sedarplus.ca).
Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under
National Instrument 43-101, has reviewed and approved the technical information contained on this news
release.
Forward-Looking and Cautionary Statements
This news release includes certain forward -looking statements as well as management’s objectives,
strategies, beliefs and intentions or forward -looking information within the meaning of applicable
securities laws. Forward-looking statements are frequently identified by such words as “believe”, “may”,
“will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “potential”, “possible” and similar
words referring to future events and results. Forward -looking statements are based on the current
opinions, expectations, estimates and assumptions of management in light of its experience, perception of
historical trends, and results of the PFS, but such statements are not guarantees of future performance. In
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particular, this news release contains forward -looking information relating to: E3 accelerating and
expanding the scope of the Demonstration Facility that will enable the Company to build and operate its
third phase; Funding supporting the Company's FEED and supporting hiring of additional 25 full time
positions; Funding enabling the ongoing production of battery -grade lithium carbonate at an increased
scale, de-risking E3’s Direct Lithium Extraction (DLE) technology on a 1:1 scale commercial column and
finalizing Clearwater Project engineering to enable FID ; the Company’s expectations regarding the
production of lithium carbonate; plans and objectives of management for the Company’s operations of the
Demonstration Facility ; and the inherent hazards associated with mineral exploration and mining
operations. In preparing the forward -looking information in this news release, the Company has applied
several material assumptions, including, but not limited to, that any additiona l financing needed will be
available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent
with the Company’s expectations; that the current explo ration, development, environmental and other
objectives concerning the Demonstration Facility can be achieved and that its other corporate activities
will proceed as expected; that general business and economic conditions will not change in a materially
adverse manner and that all necessary governmental approvals for the planned activities on the
Demonstration Facility will be obtained in a timely manner and on acceptable terms.
All forward-looking information (including future-orientated financial 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, risks related to the availability of financing on commercially reas onable terms and the
expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves
or mineral resources; future prices of lithium and other metals; availability of third party contractors;
availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and
other natural phenomena and other risks associated with the mineral exploration industry; the Company’s
lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates
used in financial statements proving to be incorrect; competitive risks and the availability of financing, as
described in more detail in our recent securities filings available under the Company’s profile on SEDAR+
(www.sedarplus.ca). 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.