E3 Metals Files Preliminary Economic Assessment Report
E3 Metals Files Preliminary Economic
Assessment Report
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
CALGARY, AB
,
Dec. 21, 2020
/CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC:
EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading lithium
extraction technology innovator, today announced it has now filed a Preliminary Economic
Assessment Report ("PEA Report"), further to its news release dated
November 16, 2020
. The
report is available on
www.sedar.com
and on
www.e3metalscorp.com
.
The PEA Report, entitled "Preliminary Economic Assessment – Clearwater Lithium Project" was
prepared by independent contractors: NORAM Engineering, Scovan Engineering, Fluid Domains and
GLJ. E3 Metals wishes to thank its contractors for their contributions to the PEA Report.
About E3 Metals Corp.
E3 Metals is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent
(LCE) inferred mineral resources in
Alberta
and an after-tax NPV
8%
on its Clearwater Lithium
Project of
USD 1.1B
with a 32%
1
IRR. Through the successful scale up its DLE technology towards
commercialization, E3 Metals' goal is to produce high purity, battery grade, lithium products. With a
significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver
lithium to market from one of the best jurisdictions in the world. E3 Metals also continues to work
with partners at the
University of Alberta
and at GreenCentre Canada. For more information about
E3 Metals, visit
http://www.e3metalscorp.com
.
1: A summary of the Clearwater Lithium Project PEA is outlined in the November 16, 2020 news announcement, with a NI 43-101 Technical report filed December 21, 2020. Metals
has also released information on three 43-101 Technical Reports totaling a resource of 7.0 Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE
(inferred), is dated effective November 16, 2020. The North Rocky Resource Area (NRRA) Technical Report was dated effective October 27, 2017 and identifies 0.9Mt LCE
(inferred). A third report for the Exshaw West Resource Area (EWRA), identifies 3.9Mt LCE (inferred), with an effective date of June 4, 2018. All reports are available on SEDAR (
www.sedar.com
).
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos
, President & CEO
E3 METALS CORP.
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements concerning the Offering and the use
of the net proceeds therefrom, 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.
NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
SOURCE
E3 Metals Corp.
View original content:
http://www.newswire.ca/en/releases/archive/December2020/21/c8998.html
%SEDAR: 00011471E
For further information:
Chris Doornbos, Phone: (587) 324-2775, [email protected]
CO: E3 Metals Corp.
CNW 19:47e 21-DEC-20