Mr. Chris Doornbos reports

E3 LITHIUM JOINS CONSORTIUM TO DEVELOP LMR CATHODE ANCHORED BY POSCO AND THE NATIONAL RESEARCH COUNCIL OF CANADA

E3 Lithium Ltd. has entered into a collaborative research agreement between E3, the National Research Council of Canada (NRC) and major South Korean battery manufacturer Posco through its subsidiary Posco America Corp., among other input contributors, whereby E3 will be the exclusive lithium carbonate provider to the project to support the development of a made-in-Canada lithium-manganese-rich (LMR) cathode.

E3 Lithium is receiving $98,798 in funding from the NRC's Critical Battery Materials Initiative for this project. E3's lithium carbonate contributions will support the project in producing lithium-manganese-rich (LMR) cathode active materials (CAM) from Canadian feedstocks. E3, along with Manganese X Energy Corp. and NiVolt Technologies Inc., will produce the necessary chemical precursors, while the NRC will carry out downstream synthesis into cathode material and testing in coin cells. Posco will provide industrial validation of the CAM material, according to its internal benchmark metrics. Posco is one of the world's leading battery materials producers, with integrated capabilities targeting one million tonnes of cathode capacity by 2030, currently supplying major global automakers and battery manufacturers.

"E3 Lithium is working alongside a group of Canadian peers developing cathode for the future of North American batteries," said Chris Doornbos, president and chief executive officer of E3 Lithium. "LMR batteries offer increased energy density and safety with significant cost savings, with LG, Ford, and GM currently pursuing this cathode as an option. We are excited to be working on the next-gen batteries with the NRC."

About E3 Lithium Ltd.

E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) measured and indicated as well as 300,000 tonnes LCE (lithium carbonate equivalent) inferred mineral resources in Alberta. The Clearwater prefeasibility study outlined a 1.13-million-tonne-LCE proven and probable mineral reserve with a pretax net present value (discounted at 8 per cent) of $5.2-billion (U.S.) with a 29.2-per-cent internal rate of return and an after-tax NPV (discounted at 8 per cent) of $3.7-billion (U.S.) with a 24.6-per-cent IRR.

Unless otherwise indicated, Chris Doornbos, PGeo, chief executive officer and a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release.

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