E3 Lithium’s Collaborations with Two Universities Receive Federal NSERC Funding

• E3 Lithium is collaborating with McMaster University and the University of Alberta on research projects that have been awarded Alliance Missions Grants for Critical Minerals Research from the Natural Sciences and Engineering Research Council of Canada (NSERC)
• McMaster University is conducting research aimed at maintaining and enhancing lithium concentrations in recovered subsurface lithium brine resources, and the University of Alberta is exploring ways to enhance the performance of fast charging lithium-ion batteries
• E3 Lithium is providing data, resources and advisory services to support the research proposals and once complete, will identify ways to incorporate the data into its development and commercialization plans

McMaster University

McMaster University's proposal includes developing enhanced brine recovery mechanisms that are aimed at maintaining and enhancing lithium concentrations from subsurface brine resources during reservoir production. The outcome includes the potential of improving the economic viability of sustainable lithium production in the Leduc. E3 Lithium is supplying the brine required for experimental use in this proposal and will provide aquifer characteristic data essential for designing, validating and benchmarking experimental and numerical models of subsurface lithium flow and transport. The Company is also lending its technical expertise to the project to support the integration of the research into long-term field plans and commercial plant operations.

University of Alberta

The University of Alberta's proposal involves developing innovative methods for producing high-quality battery-grade graphite from natural graphite to enhance the performance of fast-charging lithium-ion batteries. The main focus of the project is to understand graphite's role in lithium-ion batteries and enhancing its electrochemical properties. E3 Lithium is providing technical support for separating and collecting lithium during graphite anode recycling and wastewater treatment. The Company is guiding the selection and implementation of separation techniques to effectively isolate lithium from other components in the wastewater.

"This is an incredible opportunity for E3 Lithium to support Canadian research conducted by reputable post-secondary institutions, and use the data produced to identify and implement efficiencies in lithium production and apply new innovations," said Chris Doornbos, President and CEO of E3 Lithium. "If successful, these proposals have the potential to enhance Canada's competitive advantage in the global economy and position itself as a leader in the transition to renewable energy."

More information about NSERC's Alliance Mission grants can be found here.

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 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral resources¹ in Alberta. As outlined in E3's Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax¹. 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 Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report is amended Sept 17, 2021. Gordon MacMillan, P.Geol, QP, Fluid Domains Inc. and Grahame Binks, MAusIMM, QP (Metallurgy), formerly of Sedgman Canada Limited (Report Date: June 15, 2018, Effective Date: June 4, 2018 Amended Date: September 17, 2021). The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9Mt LCE (inferred). The mineral resource NI 43-101 Technical Report for the Bashaw District Project, effective March 21, 2023, identified 16.0Mt LCE (measured & indicated). All reports are available on the E3 Lithium's website (e3lithium.ca/technical-reports) and SEDAR+ (www.sedarplus.ca).

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.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.

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



Contact

E3 Lithium - Investor and Media Relations
Robin Boschman
Director, Investor Relations and Corporate Communications
investor@e3lithium.ca
587-324-2775