E3 Metals Provides Corporate Update and Live Webinar on June 16, 2020
- E3's progress on the project and technology development remains on track as we emerge from the COVID-19 lockdown<- Join E3 Metals for a live webinar on June 16, 2020 @ 2 p.m. EST
CALGARY, June 10, 2020 - E3 Metals Corp. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals") is pleased to provide an update on its developments through the first half of 2020 and ongoing activities as the world begins to emerge from the COVID-19 pandemic.
Direct Lithium Extraction Process
E3 Metals has been working diligently on its proprietary Direct Lithium Extraction (DLE) process with Livent Corporation (NYSE: LTHM) -- see news release dated September 18, 2019. The work has continued through the pandemic with appropriate protocols in place to ensure the health and safety of E3 Metals' and Livent's staff and contractors. The project's goals have remained in focus and both companies are working toward a commercially viable process that will ultimately be demonstrated with a planned pilot plant in Alberta.
Alberta Lithium Brine Project
In parallel to the DLE process development work with Livent, E3 Metals is actively advancing the overall project, which includes local infrastructure and reservoir development. Recent attention has been placed on abandoned well liabilities in Alberta with the federal government committing $1 billion CAD to the cleanup effort. E3 Metals has identified the potential for repurposing oil wells into lithium production and is actively developing this plan. This could see E3 reduce the overall capital expenditure by using already existing infrastructure.
"While the recent pandemic has had a global impact, E3's goals continue unwavered," commented E3's CEO, Chris Doornbos. "The drivers behind the lithium market remain strong and high purity lithium hydroxide continues to fetch a healthy premium. Having a project in Alberta, Canada brings advantages few other lithium projects can boast; available infrastructure, available work force, a strong social license and a secure and stable jurisdiction from a sovereign risk perspective. As we begin to emerge from the pandemic I would like to extend my appreciation to my staff and contractors for working safely and diligently through this tough time."
Corporate Update Webinar
To provide more details on the Company's plans for 2020, the Company is pleased to provide a live Corporate Overview Webinar with Chris Doornbos, President & CEO on Tuesday, June 16 at 2 p.m. EST. Mr. Doornbos will be going through the Company's updated investor presentation, providing an in-depth overview of the Company's current activities and upcoming milestones. He will also cover the latest updates in the lithium sector and why Direct Extraction Technology is critical to the growth of the electric vehicle market. Management will be available to answer questions following the presentation on the webinar platform via live Q&A.
Webinar Details
Date: Tuesday June 16, 2020
Time: 2:00pm EST (12:00pm MST, 11:00am PST)
Register: https://attendee.gotowebinar.com/register/1372635121625186575
A recording of the webinar will be available on E3's website after the session for those who are unavailable to attend at this time.
Management will be available to answer questions following the presentation. To ask a question, please login to the GoToWebinar platform or email your question(s) beforehand to investor@e3metalscorp.com.
About E3 Metals Corp.
E3 Metals is a lithium development company with 6.7 million tonnes lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. E3 Metals is currently advancing its proprietary Ion Exchange Direct Lithium Extraction (DLE) process in partnership with Livent Corporation under a Joint Development Agreement. Livent is the world's largest pure-play lithium producer, well-known for being one of the lowest cost producers of lithium carbonate. With facilities across the globe, Livent holds technical expertise in the extraction and production of various lithium products. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada.
Through the successful scale up its DLE process towards commercialization, E3 Metals plans to quickly move towards the production of 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. The development of this lithium resource through brine production is a well-understood venture in Alberta, where this brine is currently being produced to surface through an extensive existing oil and gas infrastructure and development. For more information about E3 Metals, visit www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
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 totaling 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, 2018, effective June 4, 2018. All reports are available on 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.
SOURCE E3 Metals Corp.
Contact
205 - 227 10th St NW, Calgary, AB T2N 1V5, +1 (587) 324-2775, admin@e3metalscorp.com, e3metalscorp.com