E3 Lithium and Pure Lithium Build Lithium Metal Batteries Produced from Alberta Brines

Rhea-AI Summary

E3 Lithium (EEMMF) and Pure Lithium have achieved a significant milestone in their Joint Development Agreement by successfully producing lithium metal batteries using E3's Alberta brines and DLE technology combined with Pure Lithium's Brine to Battery™ technology.

The companies have manufactured over 80 lithium metal battery cells using E3's lithium concentrate, with Pure Lithium conducting rigorous performance testing using industry standard metrics. The collaboration has defined an optimized lithium chloride concentrate profile, evaluating various versions for consistency and purity through electrodeposition into lithium metal.

The testing program is scheduled for completion in Q2 2025. Additionally, E3 Lithium's Board has approved a grant of 300,000 restricted share units to the Company's CEO, vesting over three years.

Positive

• Successfully produced over 80 lithium metal battery cells from Alberta brines
• Achieved optimization of lithium chloride concentrate for battery production
• Demonstrated capability to produce multiple battery-grade lithium products
• Established potential for cost-effective large-scale lithium metal anode production

Negative

• Testing program results not yet available until Q2 2025
• 300,000 new RSUs to CEO may lead to future dilution

CALGARY, Alberta--(BUSINESS WIRE)-- E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, is pleased to announce as part of its ongoing Joint Development Agreement with Pure Lithium Corporation ("Pure Lithium") that the companies have produced lithium metal batteries using E3 Lithium's brines and DLE technology and Pure Lithium's innovative battery technology.

This initial work has focussed on integrating E3 Lithium’s concentrate production flow sheet with Pure Lithium’s proprietary Brine to Battery™ technology to produce high quality lithium metal batteries. Various versions of lithium chloride concentrate that reflect locations along the E3 Lithium process flow sheet have been electrodeposited into lithium metal and evaluated for consistency and purity. From there, batteries were produced to test how the metal performed when assembled into a battery. From this work, an optimized lithium chloride concentrate, in terms of lithium concentration and impurity profile, has been defined. E3 Lithium and Pure Lithium have successfully manufactured more than 80 lithium metal battery cells using lithium concentrate produced by E3.

Pure Lithium has proceeded with rigorous testing of the batteries for cell performance using industry standard metrics. An outline of the results from this work will be released once all the battery testing and analysis is complete.

“The production of lithium metal batteries from E3’s Alberta brine marks a significant milestone and outlines our ability to produce multiple battery grade lithium products," said Chris Doornbos, President and CEO of E3 Lithium. "The successful integration of E3’s lithium brine resource and DLE technology with Pure Lithium's innovative technology demonstrates our commitment to developing a secure, reliable, and local lithium battery supply chain.”

“The expertise of E3 Lithium’s team, along with their extensive brine resources, has been crucial in advancing our Brine to Battery™ technology for the production of lithium metal anodes,” said Emilie Bodoin, Founder, Chairman & CEO of Pure Lithium. "We are confident in our strong partnership with E3 and our shared ability to achieve large-scale lithium metal anode production at a fraction of current commercial costs."

The testing program is expected to be completed in Q2 2025.

Equity Awards Grant

In relation to the Equity Awards Grant and Repricing of Options disclosed in the Company’s news release date March 7, 2025, the Board of Directors had also approved the issuance of an additional 300,000 restricted share units (“RSUs”) to the Company’s CEO, which RSUs will vest as to one third on each anniversary of the date of grant.

ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.

About E3 Lithium

E3 Lithium is a development company with a total of 16.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated ¹ as well as 0.9 million tonnes LCE Inferred mineral resources² in Alberta and 2.5 million tonnes LCE Inferred mineral resources³ in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR¹. E3 Lithium’s goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.

1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium’s website (https://e3lithium.ca/our-assets/technical-reports/) and SEDAR+ (www.sedarplus.ca).

2: The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).

3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium’s website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).

Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release.

About Pure Lithium

Pure Lithium is a disruptive Boston-based lithium metal battery technology company led by inventor and lithium expert, CEO Emilie Bodoin, and world-renowned battery and metallurgical expert, MIT Emeritus Professor Donald R. Sadoway, as full-time CSO. The Company's novel Brine to Battery™ technology combines metal extraction and anode production, unlocking unconventional sources of lithium. The resulting pure lithium metal anode is the core component of our lithium metal vanadium oxide battery, a step-change improvement over today’s lithium-ion technology in cell performance, cost, and safety. Additionally, the battery is free of graphite, cobalt, nickel, and manganese. For more information, visit www.purelithium.io or email news@purelithium.io.

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: the potential for delivery of lithium to market; expected timing for releasing battery cell performance results; expectations regarding results of the upcoming performance tests; timing for completion of the testing program; and the anticipated benefits of the foregoing. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company’s expectations; that the current exploration, development, environmental and other objectives concerning the Clearwater Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Clearwater Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the testing program will be delivered in a timely manner consistent with the Company’s projected timelines; and that the results will be in line with management’s expectations.

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; risks related to the results of the testing program not being in delivered in a timely manner and/or not being in line with management’s expectations; 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+ at 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250313574776/en/

E3 Lithium - Investor and Media Relations

Alexis de la Renaudiere

Investor Relations

investor@e3lithium.ca

587-324-2775

E3 Lithium - Media Inquiries

Kati Dolyniuk

External Relations

communications@e3lithium.ca

587-324-2775

Source: E3 Lithium Ltd.

FAQ

What milestone did E3 Lithium (EEMMF) achieve with Pure Lithium in battery production?

E3 Lithium and Pure Lithium successfully produced over 80 lithium metal battery cells using E3's Alberta brines and DLE technology combined with Pure Lithium's Brine to Battery™ technology.

When will E3 Lithium (EEMMF) complete its battery testing program with Pure Lithium?

The testing program is expected to be completed in Q2 2025.

How many battery cells has E3 Lithium (EEMMF) manufactured in this collaboration?

E3 Lithium and Pure Lithium have manufactured more than 80 lithium metal battery cells using E3's lithium concentrate.

What type of share units did E3 Lithium (EEMMF) grant to its CEO in 2025?

E3 Lithium granted 300,000 restricted share units (RSUs) to its CEO, vesting one-third annually from the grant date.