E3 METALS CORP. an emerging lithium developer and leading lithium extraction technology innovator, today announced the receipt of a government grant totaling $98,798 from Alberta Innovates that will assist in funding a project to determine the development plan and costs of brine production from the Leduc Reservoir in Alberta.
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 the receipt of a government grant totaling $98,798 from Alberta Innovates that will assist in funding a project to determine the development plan and costs of brine production from the Leduc Reservoir in Alberta. This work is being completed through a joint collaboration with Scovan Engineering Inc. and Fluid Domains Inc.
Alberta has abundant lithium resources that have not been produced commercially to date. E3 Metals has developed the key to unlocking this brine resource – a proprietary Direct Lithium Extraction (“DLE”) technology that is being optimized and scaled up in collaboration with global lithium producer Livent Corporation (NYSE:LTHM). This technology allows the Company to extract lithium from its lithium brine resource at faster production and higher recovery rates than others in the industry.
E3 Metals was successful in receiving funding through the Voucher program at Alberta Innovates. The Company will be integrating its DLE technology with traditional oilfield methods. Using the drilling, reservoir and facilities expertise based in Alberta, this project aims to optimize and deliver project solutions along with capital expenditure estimates for lithium brine production and brine pre-treatment.
“The development work included under this grant will lay the foundation as we begin work towards project feasibility,” commented Chris Doornbos, chief executive officer of E3 Metals Corp. “This grant greatly assists the Company’s advancement and we appreciate the support from Alberta Innovates.”
This will be the first work of its kind in Alberta that focuses on lithium, supporting a new and highly prospective industry, aligning with the Canada-US Joint Action Plan on Critical Minerals strategy, which secures supply chains for critical minerals needed for important sectors. The delivery of this work supports E3 Metals‘ growth and advancement as the Company moves towards the goal of battery grade lithium compound production in Alberta.
About Scovan Engineering
Scovan Engineering is a Calgary-based firm that specializes in offering innovative and sustainable solutions for industrial, renewable and emerging energy projects. Their multidisciplinary team provides engineering, procurement and construction management services (EPCM). Key management personnel includes president Donovan Nielsen, a professional mechanical engineer from the University of Alberta with experience in steam-assisted gravity drainage (SAGD), fuel cells and other innovative energy technologies.
About Fluid Domains Inc.
Fluid Domains is a hydrogeology consultancy that provides technical support to clients from many sectors, including: energy, consulting companies, municipalities, mining, policy development and expert testimony. Gordon MacMillan, P.Geol., is a key management person who will be heavily involved with the project. Mr. MacMillan is an owner of Fluid Domains and has 20 years of experience providing strategic leadership on modelling and hydrogeological characterization.
About Alberta Innovates
Alberta Innovates is a provincially funded corporation with a mandate to deliver 21st-century solutions for the most compelling challenges facing Albertans. They do this by building on the province’s research and technology development strengths in the core sectors of health, environment, energy, and food and fibre, and platforms such as clean technology, digital technology for business transformation, data-enabled innovation, and innovative production and distribution. They work with partners to diversify the provincial economy, improve environmental performance and enhance Albertans’ well-being through research and innovation. albertainnovates.ca
About E3 Metals
E3 Metals is a lithium development company with 6.7 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta. E3 Metals is currently advancing its proprietary direct lithium extraction (DLE) process in partnership with Livent Corporation, a global leader in lithium production, under a joint development agreement. 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. E3 Metals also continues to work with partners at the University of Alberta and at GreenCentre Canada. For more information about E3 Metals, visit 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 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.
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