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Resource categorization reflects the confidence in both the data sets and the interpretations. Measured resources exist within the conceptual development area and are restricted to volumes exceeding a 6% porosity cut-off within a single connected geobody volume with lithium grade measurements. Indicated resources exist across the Garrington District and are restricted to volumes exceeding a 2% porosity cut-off within a single connected geobody with lithium grade measurements. Inferred resources make up all geobody volumes above the 2% porosity cut-off.
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With the updated Garrington Resource Estimate, E3 Lithium’s total Measured and Indicated lithium resources in Western Canada are now in excess of 21 Mt LCE with an additional 2.9 Mt of Inferred resources. Included in this number is approximately 1.13 Mt of Proven and Probable mineral reserves in the Bashaw District that provide the basis for the Clearwater Project currently under development and outlined in the Pre-Feasibility Study published in July 2024.
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Table 2: E3 Lithium’s Total Lithium Brine Reserves and Brine Resources
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Lithium Carbonate Equivalent (tonnes) | Average Lithium Grade (mg/L) | |||||||||||
Brine Reserves | Brine Resources1 | |||||||||||
District (Province) | Proven & Probable | Measured | Indicated | Measured & Indicated | Inferred | Measured & Indicated | Inferred | |||||
Bashaw (AB) | 1,137,850 | 6,687,200 | 9,530,900 | 16,218,100 | N/A | 75 | N/A | |||||
Garrington (AB) | N/A | 163,000 | 4,817,000 | 4,980,000 | 319,000 | 54 | 42 | |||||
Estevan (SK) | N/A | N/A | N/A | N/A | 2,545,000 | N/A | 98 | |||||
Total | 1,137,850 | 6,850,200 | 14,347,900 | 21,198,100 | 2,864,000 |
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1. Brine Resources are reported using the 2014 CIM definition standards, and are inclusive of those Brine Resources converted to Brine Reserves. Brine Resource estimates are inclusive of unleased freehold mineral rights.
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ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President & CEO
E3 Lithium Ltd.
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About E3 Lithium
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E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources2 in Alberta and 2.5 Mt 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.
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1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium’s website (
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) and SEDAR+ (
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).
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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 will be available on the E3 Lithium’s website (
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) and SEDAR+ (
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) within 45 days of this news release.
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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 (
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) and SEDAR+ (
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).
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Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news 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”, “could” 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 Garrington Report, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the mineral resource estimate at the Garrington District; timing of the availability and filing of the Garrington Report; the potential for future development and inventory expansion of the Clearwater Project and value creation; 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, the assumption that the Garrington Report will be delivered on the expected timeline and will not contain any material variations to the information contained in this news release; that activities relating to the Garrison District and the Company’s other projects will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; ; 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 Garrington District will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the mineral resource estimate 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.
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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
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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.
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View source version on businesswire.com:
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Contacts
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E3 Lithium – Investor and Media Relations
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Rob Knowles
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Investor Relations
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587-324-2775
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E3 Lithium – Media Inquiries
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Kati Dolyniuk
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External Relations
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587-324-2775
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