E3 Metals Corp. News Announcement
TSXV: ETMC
FSE: OU7A
OTC: EEMMF
DATE
October 26, 2017
TITLE
E3 Metals Corp. News
Announcement
HIGHLIGHTS
Vancouver, BC – October 26, 2017 – E3 METALS CORP. (TSX-V: ETMC, FSE: OU7A, OTC:
EEMMF) (the “Company”, “E3” or “E3 Metals”) is pleased to announce, further to its news
release of October 19, 2017 disclosing initial sampling results, that results from the ongoing
lithium sampling of a further 10 wells over its permit area range from 26.7 mg/L to 77.1 mg/L.
The results provide additional confirmation that lithium concentrations are enriched
throughout the Leduc Reef Trend. Two of the sampled wells will allow E3 Metals to extend the
proposed resource area for the Company’s first National Instrument 43-101 lithium mineral
resource, which is expected to be completed in the coming months.
An additional 10 samples were collected during the Company’s continued sampling program,
including 8 from within the Leduc Formation (Woodbend Group) and 2 from within the Nisku
Formation (Winterburn Group). Both the Nisku and Leduc Formations are Devonian-aged, with
the Nisku occurring between 10-200 metres stratigraphically above the Leduc across the
sampling area. The lithium values from this sampling program range from 26.7 mg/L to 77.1
mg/L from within the Leduc Formation and 42.6 mg/L to 43.3 mg/L from within the Nisku
Formation.
Additional Sampling Results Allows E3
Metals to Extend Area for Definition of its
Initial Lithium Resource
oLithium concentrations obtained from an additional
10 wells from ongoing sampling program outline
concentrations as high as 77.1 mg/L
oResults demonstrate consistency of lithium
enrichment allowing extension of the area for the
definition of the initial lithium mineral resource,
expected in Q4 2017
oThe Central Clearwater and North Rocky areas will be
the focus for the initial lithium mineral resource
estimate
DIRECTORS
Chris Doornbos
Paul Reinhart
Jeremy Read
Mike O’Hara
Peeyush Varshney
CONTACT INFORMATION
205 – 227 10th
St NW
Calgary, AB T2N 1V5
+1 (877) 319-7634
e3metalscorp.com
The Clearwater area assay with an updated average 78.7 mg/L from two samples (Table 1).
These wells will allow E3 Metals to extend the proposed resource area in the Clearwater
property further south to include these new samples (Figure 1). In the Rocky area, one Leduc
well was sampled at 26.7 mg/L. Five Leduc wells were tested in Exshaw East, with an updated
average of 52.6 mg/L. Two Nisku wells were tested in the Exshaw West area, with an updated
average of 74.6 mg/L. In combination with previously announced assay results (see news
release Oct. 19, 2017), E3 Metals has selected an area of interest to focus its efforts (Figure 1),
and is developing a geological and hydrogeological model of the Clearwater Central and Rocky
North Area that will lead to the development of the Company’s initial mineral resource
estimate.
Table 1: Lithium Assay Results from Additional 10 Wells and Summary of All Results to Date
New Assay Results
Geologic
Formation
All Assay Results
E3 Metals
Project
Area
Min Li
(mg/L)
Max Li
(mg/L)
Number
of Wells
Sampled
Total
Average
(mg/L)
Total
Wells
Sampled
Clearwater
76.4 77.1 2 Leduc 78.7 6
Exshaw
West - - 0 Leduc 73.6 17
Exshaw
West 42.6 43.3 2 Nisku 74.6 4
Exshaw
East 53.5 70.7 5 Leduc 52.6 11
Rocky
26.7 26.7 1 Leduc 54.2 13
“These results further delineate that lithium in the Leduc reservoir is wide -spread, with
consistent grades over each area” said Chris Doornbos, CEO of E3 Metals. “This marks a
pivotal point for the Company, allowing us to progress our NI 43-101 lithium mineral resource
towards completion on time, and on budget.”
E3 Metals is working with oil and gas operators to plan and execute on going sampling over
the Metallic and Industrial Minerals (MIM) permit area, which is expected to take place through
the end of 2017. In addition to accessing wells in areas already sampled, E3 Metals is also
focused on high-value exploration target wells in the MIM permit area with no historical lithium
concentration data is available.
Figure 1: E3 Metals permit areas (red outline) with previously announced sampling results
(circles) and new sampling results (triangles). Blue indicates the Leduc Reservoir and green
indicates the Nisku Reservoir. Mineral resource areas are indicated with black dashed lines.
CENTRAL
CLEARWATER
NORTH
ROCKY
6
3
2
5
4
1
4
1 CLEARWATER
2 EXSHAW WEST
3 EXSHAW EAST
4 ROCKY
5 SUNBREAKER
6 DRUMHELLER
2
4
7
10
63
8
1
12
11
9
2
3
1
8
13
19
17
12
16
5
14
1
2
4
376
1510
9
18
11
4
2
1
5
6
3
5
4
84.81
76.64
75.77
75.210
74.313
71.816
77.12
76.15
75.58
74.911
73.914
69.217
76.73
75.86
75.39
74.612
72.615
61.31
57.44
56.77
54.710
58.92
57.15
56.38
53.411
58.23
56.76
55.59
52.212
49.91
45.64
48.02
37.15
46.23
29.16
84.61 77.8379.92
76.24
26.713
70.77 67.98
64.410 53.511
77.15 76.46
66.19
46.719
LEDUC
PREVIOUS RESUL T
NEW RESUL T
NISKU
68.118
41.42144.020
RESOURCE AREA
E3 Metals Corp.
13
6
5
22
23
21
20
11
8 7
10
9
43.322 42.623
E3’s Alberta Petro-Lithium Project
Petro-Lithium is a new source of lithium from formation water in massive reservoirs well
understood through the exploration of oil and gas in Alberta. When the oil is pumped out of
these maturing reservoirs by oil and gas operators, ~98% of the fluid that comes with it is
water and must be separated from the oil in a separation facility. Not all oil and gas reservoirs
contain lithium, which distinguishes E3’s 1.4M acres of permits over the prolific Leduc
Reservoir. E3’s permit area has now been tested and shown to contain significant
concentrations of lithium in sampled brines. The rapidly growing electric car and power
storage industries have increased lithium demand in a supply -constrained growing industry,
creating an opportunity for Petro-Lithium to be an important source to the supply chain in the
future.
E3 has demonstrated the ability to leverage the existing oil and gas fields’ infrastructure to
reduce the exploration costs and development risks compared to conventional exploration for
lithium in salars or hard rock deposits. No new drilling and infrastructure building is required
for current and proposed exploration. With the trend of decreasing oil and gas production in
the area, E3 may be able to acquire infrastructure for minimal cost. While lithium
concentrations found in Petro-Lithium projects are generally at the lower end of the current
lithium industry production grade curve (around 80 mg/L) it is important to understand that
the Leduc Reservoir has the capacity to contain tens of billions of liters of lithium bearing
brines with extremely high flow rates. It is estimated that one well can produce up to
20,000,000 liters of water per day from the reservoir. These high brine flow rates combined
with new direct lithium extraction technologies currently under development by various entities
has potential to create a new source of lithium to supply the expanding lithium industry.
About E3 Metals
E3 Metals is a publicly listed company in the emerging Petro-Lithium space (TSXV: ETMC). E3
has brought together an experienced team that has secured the lithium (and other mineral)
rights to over 570,000 hectares (~1.4 million acres) in Alberta covering the prolific Leduc
Reservoir. Over 60 years of reservoir data from the oil and gas operators is readily available,
and E3 has acquired this data to target its own sampling of the brines from existing wells. It is
expected that repurposing existing infrastructure and historical data will allow E3 to cost
effectively and rapidly define a lithium mineral resource prepared in accordance with NI 43-
101. E3’s focus is to develop a sizable lithium resource that can be exploited by direct lithium
extraction technologies currently under development by industry leaders. More information
about E3 Metals can be found our website by visiting: www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 METALS CORP.
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.
Chris Doornbos (P.Geo), CEO and Director of E3 Metals Corp., is a Qualified P erson a as defined by
National Instrument 43-101 and has read and approved the technical information contained in this
announcement
This news release includes certain forward -looking statements concerning the development of the
Company’s Alberta Petro-Lithium Project, the Company’s intention to establish a mineral resource
estimate in respect of its Alberta Petro-Lithium Project and the results thereof, the reliability or accuracy
of sampling results, the anticipated results of future sampling programs, 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, results of current and future testing, 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.