Mr. Chris Doornbos reports

E3 LITHIUM CLOSES UPSIZED $11.5 MILLION EQUITY OFFERING AND SCHEDULES INVESTOR WEBINAR

E3 Lithium Ltd. has closed its public offering of 12,782,250 units of the company, previously announced on Sept. 16, 2026, and upsized on Sept. 17, 2026, for aggregate gross proceeds of $11,504,025, including the full exercise of the overallotment option.

Each unit comprises one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of $1.10 until Sept. 24, 2029.

The company has applied to list the warrants issued in connection with the offering for trading on the TSX Venture Exchange and the TSX-V has conditionally approved the company's listing application. Listing will be subject to the company fulfilling all the listing requirements of the TSX-V.

The offering was co-led by ATB Cormark Capital Markets and Canaccord Genuity Corp., together with a syndicate of agents including Roth Canada Inc. and Stifel Nicolaus Canada Inc.. In consideration for their services under the offering, the agents received a cash commission in the aggregate amount of $669,992.

The company intends to use the net proceeds from the offering to finance advancement of the company's Clearwater project and for general working capital purposes as set out in the prospectus supplement (as defined below).

Two directors (one of whom is also an officer) and two officers of the company participated in the offering, acquiring a total of 168,889 units with an aggregate purchase price of $152,000. Participation by such insiders constitutes a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to, or the consideration paid by, such insiders exceeded 25 per cent of the company's market capitalization. E3 Lithium did not file a material change report 21 days prior to closing of the offering as the related parties' participation had not been confirmed at that time and E3 Lithium wished to close the transaction as soon as practicable for sound business reasons. The securities in the offering were issued by way of a prospectus supplement dated and filed on Sept. 17, 2026, in each of the provinces and territories of Canada (excluding Quebec) under the company's (final) short form base shelf prospectus dated July 23, 2026. Copies of the prospectus supplement and the accompanying base shelf prospectus are available under the company's SEDAR+ profile.

"This financing, along with available government grants, strengthens our financial position as we accelerate executing on key milestones to propel the Clearwater project towards commercial production of battery-grade lithium," said Chris Doornbos, chief executive officer and chair of E3 Lithium. "The financing was oversubscribed and primarily consisted of institutional investors, which shows a great vote of confidence in the development of our project."

Webinar

E3 invites its shareholders and interested stakeholders to join a webinar to be held on Tuesday, Sept. 29, 2026, at 12 p.m. MT (2 p.m. ET), to discuss recent updates and outline the company's next steps as it advances the Clearwater project.

Date:  Tuesday, Sept. 29, 2026

Time:  12 p.m. MT to 1 p.m. MT (2 p.m. ET to 3:00 p.m. ET)

Location:  virtual webinar, followed by a Q&A (question-and-answer) period (Please join the webinar (meeting ID: 894 1384 6569) at the time of the meeting; there is no need to register in advance.)virtual webinar, followed by a Q&A (question-and-answer) period (Please join the webinar (meeting ID: 894 1384 6569) at the time of the meeting; there is no need to register in advance.)

The webinar will be followed by a live Q&A session where attendees can submit questions in real time. Participants are encouraged to submit questions in advance by e-mailing investor@e3lithium.ca to ensure they are reviewed during the webinar.

The webinar recording will be made available on the company's website following the event.

About E3 Lithium Ltd.

E3 Lithium is a development company with a total of 21.2 million tonnes (t) of lithium carbonate equivalent (LCE) measured and indicated mineral resources, as well as 300,000 t LCE inferred mineral resources in Alberta, comprising: (a) measured and indicated mineral resources of 16.2 million t LCE at a lithium grade of 75.5 milligrams per litre (mg/L) within its Clearwater project (1); and (b) measured and indicated mineral resources of 5.0 million t LCE at a lithium grade of 54.0 mg/L and inferred mineral resources of 300,000 t LCE at a lithium grade of 42 mg/L within its Garrington district (2). The Clearwater prefeasibility study outlined a 1.13 million t LCE proven and probable mineral reserve at a lithium grade of 75.5 mg/L, with a pretax net present value (NPV) (8 per cent) of $5.2-billion (U.S.) with a 29.2-per-cent internal rate of return (IRR) and an after-tax NPV (8 per cent) of $3.7-billion (U.S.) with a 24.6-per-cent IRR (1).

(1) The technical report, titled "Clearwater Project, NI 43-101 Technical Report on Pre-Feasibility Study, Bashaw District Mineral Property, Central Alberta, Canada," with an effective date of June 20, 2024, is available on the E3 Lithium's website and under E3 Lithium's profile on SEDAR+.

(2) The technical report, titled "NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate," with effective date of June 25, 2025, is available on the E3 Lithium's website and under E3 Lithium's profile on SEDAR+.

Unless otherwise indicated, Chris Doornbos, PGeo, chief executive officer and a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

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