E3 Metals Begins Evaluation of Commercial Sorbent Manufacturing Process for Upcoming Field Pilot
CALGARY, April 6, 2022 - E3 Metals Corp. (TSXV: ETMC) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading Direct Lithium Extraction ("DLE") technology innovator, is pleased to announce that the Company has engaged several specialty equipment providers to evaluate manufacturing methods for its proprietary ion-exchange sorbent used as part of its Direct Lithium Extraction process. The goal of this work is to delineate a scalable manufacturing process to produce E3 Metal's proprietary ion-exchange beads at a large scale. While the immediate need is to deliver large quantities of the sorbent material for the Company's upcoming Pilot Plant, this ability to scale the sorbent manufacturing process carries forward to commercial scale for E3 Metals' DLE technology. This means that upon the successful completion of this work, the Company will have delineated large scale production equipment and processes that may be implemented for a commercial DLE plant. This could potentially lead to provide the opportunity for E3 Metals to produce its proprietary sorbent material for licensing to third parties.
The preliminary results from the initial production run of E3 Metal's proprietary sorbent received through the vendor evaluation process demonstrates the larger scale equipment can produce a sorbent that performs on par to E3 Metals inhouse sorbent. Further scale up and validation testing is underway.
"Commercial scale manufacturing of our DLE sorbent is a significant milestone for the Company," commented E3 Metals CEO, Chris Doornbos. "The machinery used to run the pilot plant is an important part of the development, however, it is the proprietary sorbent that does the real work in extracting lithium from the brine. It is the two combined that represent the significant de-risking accomplishment that E3 Metals is moving towards. Having both a large resource base and its own ion-exchange DLE technology puts the Company firmly in the driver's seat. More important than ever, developing secure supply of domestic North American critical minerals enables the electrified world and the movement towards EV's."
About E3 Metals Corp.
E3 Metals is a lithium development company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. 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.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 Metals Corp.
1: The Preliminary Economic Assessment (PEA) of the Clearwater Lithium Project NI 43-101 technical report is effective Dec 21, 2020. E3 Metals has also released three NI 43-101 Technical Reports providing a total resource of 7.0Mt LCE. The Clearwater Lithium Project PEA resource estimate, identifying 2.2Mt LCE (inferred) effective December 21, 2020; the North Rocky Resource Area (NRRA) Technical Report effective October 27, 2017 identifying 0.9Mt LCE(inferred); and the Exshaw West Resource Area (EWRA) identifying 3.9Mt LCE (inferred) dated June 4, 2018. All reports are available on the Company's website (e3metalscorp.com/technical-reports) and SEDAR (www.sedar.com)
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements 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.
SOURCE E3 Metals Corp.
Contact
Email: investor@e3metalscorp.com, Website: e3metalscorp.com