E3 Metals announces joint venture with Comstock Metals
E3 Metals announces joint venture with
Comstock Metals
Highlights
E3 Metals and Comstock Metals form a joint venture to evaluate and develop
prospective battery metal deposits
Comstock's President, CEO and Director
Steven Goldman
will join E3 Metals as an
Advisor
CALGARY
,
Aug. 8, 2018
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC:
EEMMF) (the "Company" or "E3 Metals") is pleased to announce that it has entered into a joint
venture with Comstock Metals (TSXV: CSL) ("Comstock"). The joint venture will look to acquire and
develop prospective mineral assets in the battery metal space. Comstock brings a wealth of
experience and specific contacts to support the acquisition and development of quality mineral
resources in
North America
. With the continued advancement of E3 Metals' direct brine lithium
extraction technology, the Company is seeking additional opportunities to deploy its technology. E3
Metals will provide the technical exploration and engineering expertise to evaluate prospective
projects. As part of the agreement, Comstock's President, CEO and Director
Steven Goldman
will
join E3 Metals as an advisor.
"This agreement with Comstock will enable a number of strategic growth and diversification
opportunities to advance" commented E3 Metals President and CEO
Chris Doornbos
. "The addition
of
Steven Goldman
as an advisor will enhance the Company's development and financing capacity
as we grow the partnership".
Steven Goldman
, President, CEO and Director of Comstock said, "We have spent considerable time
getting to know the team at E3 Metals and what they have accomplished to date in the Petro-lithium
space. We have been impressed. This has ultimately led us to mutually agree that by working
together, and combining our networks, skill sets and focus we will be able to achieve greater
success for both of our shareholder bases."
Steven Goldman
also stated that "The battery metal
sector, and the Petro-Lithium sector in particular, is at an inflection point. We believe that the
combination of technological innovation, the acquisition and development of substantial resources,
and the growing demand, are at the early stages of exponential growth and will require ongoing
innovation, planning and collaboration to fulfill its potential. Partnerships like the one entered into
between E3 Metals and Comstock Metals will lay the foundation for that growth."
About Comstock Metals Ltd.
Comstock Metals Ltd. is an exploration company with several resources projects located in
North
America
. Presently evaluating opportunities in the battery metal space Comstock recently secured
the Rawhide Cobalt-Silver Project in
Ontario
adding to its 2 advanced gold projects: Preview Project
in
Saskatchewan
and QV Project in the
Yukon
. More information about Comstock Metals can be
found by visiting the company's website:
www.comstock-metals.com
About E3 Metals Corp
.
E3 Metals is a Petro-Lithium company rapidly advancing the development of direct recovery lithium
brine projects in
Alberta
. E3 Metals holds lithium resources at 6.7 Mt LCE (inferred)
1
. The Company
has a compelling competitive advantage by virtue of having access to extensive infrastructure built by
the Oil and Gas industry in
Alberta
. This has provided E3 Metals with low finding costs, as the
Company has been able to sample existing wells to define its resource. This infrastructure may also
provide wells and pipelines for a future lithium production operation, potentially reducing the
Company's future capital requirements. The Company's immediate goal is to demonstrate a
commercially viable chemical concentration process and believes this is a key driver to commercial
production of its
Alberta
lithium brine resources. 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 & 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 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). Both reports are available on SEDAR (
www.sedar.com
). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE
(inferred) and was filed effective June 4
th
, 2018.
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 to produce saleable lithium byproducts, including LCE, the future performance of
our business, its operations and its financial performance and condition, 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.
SOURCE
E3 Metals Corp.
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/August2018/08/c3825.html
%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 03:05e 08-AUG-18