CALGARY, Alberta--(BUSINESS WIRE)-- E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3 Lithium” or the “Company,” a leader in Canadian lithium development has entered into a collaborative research agreement (the “Project”) between E3, the National Research Council of Canada (“NRC”), and major South Korean battery manufacturer POSCO through its subsidiary POSCO AMERICA CORPORATION (“POSCO”), among other input contributors, whereby E3 will be the exclusive lithium carbonate provider to the Project to support the development of a “made in Canada” lithium-manganese-rich (LMR) cathode.
E3 Lithium is receiving CA$98,798 in funding from the NRC’s Critical Battery Materials Initiative, for this Project. E3’s lithium carbonate contributions will support the Project in producing lithium-manganese-rich (LMR) cathode active materials (CAM) from Canadian feedstocks. E3, along with Manganese X Energy Corp. and NiVolt Technologies Inc., will produce the necessary chemical precursors, while the NRC will carry out downstream synthesis into cathode material and testing in coin cells. POSCO will provide industrial validation of the CAM material, according to their internal benchmark metrics. POSCO is one of the world’s leading battery materials producers, with integrated capabilities targeting one million tonnes of cathode capacity by 2030, currently supplying major global automakers and battery manufacturers.
“E3 Lithium is working alongside a group of Canadian peers developing cathode for the future of North American batteries," said Chris Doornbos, President and CEO of E3 Lithium. "LMR batteries offer increased energy density and safety with significant cost savings, with LG, Ford, and GM currently pursuing this cathode as an option. We are excited to be working on the next-gen batteries with the NRC."
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, CEO & Chair E3 Lithium Ltd. 587-324-2775
About E3 Lithium
E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated as well as 0.3 Mt LCE Inferred mineral resources in Alberta. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV (8%) of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV (8%) of USD 3.7 Billion with a 24.6% IRR.
1:The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, identified 16.2 Mt LCE (measured and indicated) and is available on the E3 Lithium’s website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
2:The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and is available on the E3 Lithium’s website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
Unless otherwise indicated, Chris Doornbos, P. Geo., Chief Executive Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release.
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.
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements as well as management’s objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as “believe”, “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend”, “project”, “potential”, “possible” and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: E3’s role as the exclusive lithium carbonate provider to the Project; the receipt and use of funding from the NRC’s Critical Battery Materials Initiative; the production of chemical precursors by E3, Manganese X Energy Corp. and NiVolt Technologies Inc.; the NRC’s downstream synthesis of cathode active materials and testing in coin cells; POSCO’s industrial validation of the cathode active materials; the development of a “made in Canada” LMR cathode from Canadian feedstocks; the anticipated performance, safety and cost benefits of LMR batteries and their adoption by automakers and battery manufacturers; POSCO’s targeted cathode production capacity; the Company’s expectations regarding the production of lithium carbonate; and the inherent hazards associated with mineral exploration and mining operations.
All forward-looking information (including future-orientated financial 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, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company’s lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company’s profile on SEDAR+ (www.sedarplus.ca). 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.
