January 17, 2018 5:15 PM ET

Metals and Mining

Company Overview of E3 Metals Corp.

Company Overview

1975293 Alberta Ltd., doing business as E3 Metals, explores and mines lithium "petro-brine". The company was incorporated in 2016 and is based in Calgary, Canada.

1055 West Georgia Street

Suite 2050

P.O. Box 11121

Royal Centre

Vancouver, BC V6E 3P3

Canada

Founded in 2016

Phone:

604-684-2181

Fax:

604-682-4768

Key Executives for E3 Metals Corp.

CFO & Corporate Secretary
Age: 37
Compensation as of Fiscal Year 2016.

E3 Metals Corp. Key Developments

E3 Metals Corp. Appoints Liz Lappin as Vice President Project Development

The E3 Metals Corp. announced it has appointed Liz Lappin as Vice President Project Development. Liz joined the company in early 2017 as Exploration Manager, and has been responsible for leading the delivery of two NI 43-101 Inferred Resources in 2017 and building collaborative relationships with 11 operators to facilitate the ongoing sampling program. Liz is a Professional Geologist with a solid background in capturing value from Alberta's hydrocarbon and geothermal resources. Leveraging a foundation of technical excellence and creative collaboration between disciplines, Liz is now driving E3's technical group towards the development of lithium brine projects and maximizing shareholder value. Working across Western North America, Liz built a foundation of technical experience with oil and gas majors such as Cenovus, Encana and Suncor. More recently, Liz was the founder and principal consultant at Castle Rock Consulting Ltd. She was appointed a Fellow with the Energy Futures Lab in 2017 and volunteers for the Canadian Geothermal Energy Association working on policy initiatives.

E3 Metals Corp. Completes its First National Instrument 43-101 Inferred Mineral Resource Estimate

E3 Metals Corp. announced that it has completed its first National Instrument 43-101 (NI 43-101) Inferred Mineral Resource Estimate of 0.93 million tonnes lithium carbonate equivalent (LCE) from 3,312,431,608 m3 (3.3 km3) of brine formation water at an average grade of 52.9 mg/L for the North Rocky Resource Area, located within a portion of the Company's Rocky Property. The NI 43-101 Technical Report in respect of the Resource will be filed on SEDAR and the Company's website within 45 days. The Resource is based on a fluid flow 3-dimensional model for a confined aquifer and represents the volume of lithium enriched brine available to be produced from the reservoir. Although The company expects to continue to produce additional mineral resource estimates across Alberta Petro-Lithium Project, the Company will be focusing its efforts on extraction process testing. This involves the continuation of the work underway with the University of Alberta and will also encompass E3 Metals' testing of existing proprietary technology. The company will provide an update on its plans for 2018, including the extraction test work, in the near future. The significance of the size of E3 Metals combined resource base, relative to the overall size of E3 Metals Petro- Lithium Project, demonstrates the incredible potential for the company's overall land holdings. The North Rocky Resource Area spans 600 km2 and covers only 6% of the E3 Metals Petro-Lithium Project Area, and 20% of the overall Rocky Property. The combined North Rocky and Central Clearwater Resource Areas represents only 16% of the total area contained within the Alberta Petro-Lithium Project. This Resource is only the second of several the company expects to complete and deliver to the market. The Company plans to complete work which it expects will produce resource estimates over several other portions of its Alberta Petro-Lithium Project area in 2018.

E3 Metals Completes First Petro-Lithium Inferred Mineral Resource of 1.9 Mt LCE on the Clearwater Property

E3 METALS CORP. announced that it has completed its first National Instrument 43-101 (NI 43-101) Inferred Mineral Resource Estimate (the 'Resource') of 1.9 million tonnes lithium carbonate equivalent (LCE) from 4,617,079,087 m (4.6 km) of brine formation water at an average grade of 77.4 mg/L for the Central Clearwater Resource Area, located within a portion of the Company's Clearwater Property. The Resource was prepared for the Company by Raymond P. Spanjers, P.G., of North Carolina, USA, Gordon MacMillan, P.Geol., of Alberta, Canada and Wayne Monnery, P.Eng., of Alberta, Canada, all "qualified persons" within the meaning of NI 43-101 and independent of the Company. The NI 43-101 Technical Report in respect of the Resource will be filed on SEDAR and the Company's website within 45 days. The Resource is based on a fluid flow 3-dimensional model for a confined aquifer and represents the volume of lithium enriched brine available to be produced from the reservoir. E3 Metals identified the Leduc Reservoir as a significant source of formation water with the ability to produce at incredibly large flow volumes. With the completion of the Resource, E3 Metals has demonstrated that the Leduc Reservoir has the potential to be a significant source of lithium. Given the size of this Resource and the brine production rates, this one portion of E3 Metals Permit Area has the ability to produce enough formation water to deliver the equivalent of 50,000 tonnes/year LCE for at least 35 years to the surface. This can be accomplished by operating 30 production wells within the proposed well networks. As a single well has a theoretical production rate of 20,000 m of water per day, the total water required for this project can be delivered using minimal infrastructure and therefore, lower overall capital costs to deliver the formation brine to the surface. The ability to produce this volume of formation water enriched with lithium to the surface does not necessarily mean the lithium can be extracted economically. The significance of the size of E3 Metals' first Resource, relative to the overall size of E3' Petro-Lithium Project, demonstrates the incredible potential for the Company's overall land holdings. The Central Clearwater Resource Area spans 943 km and covers only 10% of the E3 Metals Petro-Lithium Project Area, and 33% of the overall Clearwater Property. This Resource is only the first of several the Company plans to complete and deliver to the market. The North Rocky Resource Area is expected to be completed before the end of November 2017 and the Company plans to complete resource estimates over several other portions of its Alberta Petro-Lithium Project area in 2018. Across the Clearwater Project area are a number of oil and gas pools; several of these have been producing since as early as the 1960's. As a result of this development, the geological and production data available to E3 Metals to complete this Resource Estimate is extensive and has delivered a robust geological understanding. Of the over 3,000 wells located within and around the Resource area, over 400 penetrate the Leduc Formation. Of those, over 200 are either currently producing or were historical producers or injectors. Today, 35 wells in the Central Clearwater Resource Area have an actively producing or injecting status in the Leduc Reservoir, and 38 have a suspended status in the Leduc Reservoir. Over 150 of the wells that intersect the Leduc Reservoir in and around the Central Clearwater Resource Area have core available to be reviewed and over 100 wells have drill stem test data. A geological investigation was completed utilising the data outlined above to define the geometry and architecture of the reservoir. This included wireline logs and core sample analysis. The literature was consulted to understand and predict spatial variations in porosity, permeability and geometry in between wells. Formation tests and production data were reviewed and utilised to understand initial and temporal variations in pressure with time. This data outlined that the Clearwater Resource Area is hydraulically connected across the reservoir.

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