E3 Lithium and Pure Lithium Enter into Joint Development Agreement to Produce Lithium Metal Batteries in Alberta from E3 Brine Page 1

E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3” or the “Company”, a leader in Canadian lithium, is pleased to announce that it has signed a Joint Development Agreement (the “Agreement”) with Pure Lithium Corporation (“PL”), a pioneering Boston-based vertically integrated lithium metal battery technology company. Under the Agreement, the two companies will advance the design of a lithium metal anode and battery pilot plant in Alberta and complete a preliminary economic assessment of a commercial lithium metal battery facility that combines Pure Lithium’s patented Vertically Integrated Brine to Battery technology with E3’s massive lithium brine and concentrate production. The combined process eliminates the need to produce a lithium salt as an intermediate step and could provide a much simpler process flow.

E3 announced on June 29, 2022 that Pure Lithium had made a lithium metal battery from E3 lithium concentrate. The two companies then signed a Memorandum of Understanding to complete further testing and validation work. Over the past two years, the companies have been working together, and Pure Lithium has used E3’s lithium concentrate to produce lithium metal cells that have a higher energy density than current lithium-ion batteries and do not contain nickel, cobalt or graphite.

The development agreement outlines that E3 and Pure Lithium will collaborate over the next 12 months to complete a rigorous techno-economic model, advance joint scale-up efforts, and design a lithium metal anode and battery pilot facility to be built near Calgary, Alberta, using lithium from concentrate generated by E3. Through this work, E3 and PL will assess the technical and economic criteria for a commercial lithium metal battery facility that would be located adjacent to lithium production in Alberta. Upon successful completion, the two companies will evaluate next steps, including operation of the pilot, designed to produce 200 kg of lithium metal anodes that will be used in rechargeable lithium metal vanadium batteries. Further, upon successful completion of the pilot, advancement to the world’s first vertically integrated lithium metal battery technology.

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