E3 Lithium Closes Sale of Non-Core Saskatchewan Assets

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12/11/2025 - 02:30 AM

Proceeds provide additional non-dilutive capital to advance Clearwater Project development

CALGARY, Alberta--(BUSINESS WIRE)-- E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” a leader in Canadian lithium, has successfully closed its previously announced sale of non-core Saskatchewan based, Estevan Lithium District assets (the “Estevan Assets”).

E3 Lithium has received cash proceeds of US$4.0 million (approximately C$5.6 million), pursuant to the Asset Purchase and Sale Agreement (the “Agreement”) announced on September 30, 2025.

All closing conditions were satisfied or waived, including third-party consents, regulatory approvals and satisfactory environmental and surface rights due diligence. Final cash proceeds are net of permitted purchase price adjustments per the Agreement of approximately US$0.3 million.

“This sale provides nearly a three-time return on E3 Lithium’s total cost to acquire, hold and develop the Estevan Assets,” said Chris Doornbos, Chair and CEO of E3 Lithium. “The value realized through the sale enables E3 Lithium to focus on advancing our flagship lithium development, the Clearwater Project in Alberta. In conjunction with the recent closing of our equity financing, monetizing this non-core asset provides additional non-dilutive capital to progress through our Demonstration Program and advance the Clearwater Project engineering and permitting.”

ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, President, CEO & Chair
E3 Lithium Ltd.

About E3 Lithium

E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated¹ 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 NPV(8%) of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV(8%) of USD 3.7 Billion with a 24.6% IRR¹.

1:	The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium’s website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
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 (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca) within 45 days of this news release.
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 (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).

Unless otherwise indicated, 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”, “subject to” 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 and perception of historical trends, but such statements are not guarantees of future performance. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, the exchange rates for the U.S. and Canadian currencies will be consistent with the Company’s expectations; that the current exploration, development, demonstration, testing, production, environmental and other objectives concerning the Clearwater Project can be achieved and that its other corporate activities will proceed as expected; 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 the continuity of the price of lithium.

All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration, development, and production, 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; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company’s profile on SEDAR+ (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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.