E3 Metals Announces Filing of Q1 2019 Financial Statements and MD&A and Energy Excellence Award
E3 Metals Announces Filing of Q1 2019
Financial Statements and MD&A and Energy
Excellence Award
TSXV: ETMC
FSE: OU7A
OTC: EEMMF
CALGARY
,
May 28, 2019
/CNW/ - E3 METALS CORP. (TSXV: ETMC, FSE: OU7A, OTC:
EEMMF) (the "Company" or "E3 Metals") announces that it has filed its Q1 2019 Financial
Statements for the three months ended
March 31, 2019
and accompanying Management Discussion
and Analysis on its SEDAR profile at
www.sedar.com.
The financial statements and MD&A will also
be posted on the Company's website at
www.e3metalscorp.com.
In addition, the Company is proud to announce that it was recently selected as an Energy Excellence
Awards Champion of the Power, Transmission and Storage Category. The Award is an important
recognition of the Company's advancement of its lithium extraction technology and signals broad
industry support for the growth of
Alberta's
lithium industry.
The Energy Excellence Awards program recognizes merit with a focus on advancement through
collaboration within
Canada's
energy industry. Following nominations and a competitive review
process, E3 Metals was honoured to be selected as a Champion at the Energy Excellence Awards
ceremony on
May 2, 2019
among energy industry peers. The Energy Excellence Awards are
presented by the Daily Oil Bulletin in partnership with the Clean Resource Innovation Network
(CRIN).
E3 Metals is a Petro-Lithium company rapidly advancing the development of direct recovery lithium
brine projects in
Alberta
. The Company's immediate goal is to demonstrate
commercial production of its Alberta Petro-Lithium brine resource.
About E3 Metals Corp.
E3 Metals is a lithium company developing 6.7 Mt LCE of inferred mineral resources
1
in
Alberta
.
Through the commercialization of its proprietary lithium extraction process, E3 plans to quickly move
towards the production of high purity, battery grade, lithium hydroxide.
E3 Metals Corp combines a significant resource with the right technology solutions that have the
potential to deliver lithium to market in one of the best jurisdictions in the world. Our prolific Leduc
Reservoir hosts lithium enriched brine with 6.7 million tonnes LCE inferred mineral resource
1
delineated to date. The development of this resource through brine production is a well understood
venture in
Alberta
, where this brine is currently being produced to surface through extensive oil and
gas development.
While the lithium brine and hydrocarbons are mutually exclusive, the Leduc Reservoir can support the
production of brine few others can boast, with one well having the ability to bring 10,000 m3/day
(115 L/s) to surface. With an average and consistent grade of 77.4 mg/L in the Clearwater
Resource Area
1
, E3 Metals' proprietary lithium extraction process can quickly produce a concentrate
with a grade over 5000mg/L. With 99% of the impurities removed at the same time and recoveries
averaging 90%
2
, this produces a concentrate feedstock that is likely to be processed directly by
conventional lithium production technology to produce high purity lithium hydroxide (LiOH∙H2O). The
Company's plans are to deliver a process facility of 10,000 tonnes LCE/year LiOH by 2022 and
continue expansion to an eventual 50,000 tonnes LCE/year.
More information about E3 Metals can be found on our website by visiting:
www.e3metalscorp.com
.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos
, President and CEO, E3 Metals Corp
Chris Doornbos
(P.Geo), CEO and Director of E3 Metals Corp., is a Qualified Person as defined by
NI 43-101 and has read and approved the technical information contained in this announcement.
1: E3 Metals has released information on three 43-101 Technical Reports totalling a resource of 6.7
Mt LCE. The Central Clearwater Resource Area (CCRA) Technical Report, identifying 1.9Mt LCE
(inferred), is dated effective
October 27, 2017
, and the North Rocky Resource Area (NRRA)
Technical Report was dated effective
October 27, 2017
, identifies 0.9Mt LCE (inferred). A third
report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred) and was filed
on
June 15
th
2018, effective
June 4
th
2018. All reports are available on SEDAR (
www.sedar.com
)
2: E3 Metals News Release,
December 4, 2018
: Development of E3 Metals' Extraction Technology
Improves Lithium Concentration and Recovery. Available on
www.e3metalscorp.com
and SEDAR (
www.sedar.com
)
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.
This news release includes certain forward-looking statements concerning the potential of the
Company's projects and technology, 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.
DIRECTORS
Chris Doornbos
Paul Reinhart
Mike O'Hara
Peeyush Varshney
SOURCE
E3 Metals Corp.
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%SEDAR: 00011471E
For further information:
#205-227 10th St NW, Calgary, AB, T2N 1V5, +1 (877) 319-7634,
[email protected], e3metalscorp.com
CO: E3 Metals Corp.
CNW 08:18e 28-MAY-19