E3 Lithium Ltd.

E3 Lithium Ltd. is a junior lithium development company headquartered in Calgary, Canada, operating primarily in Canada. The company's portfolio consists of 4 projects, comprising 1 development and 3 advanced exploration projects. Key assets include Clearwater and Bashaw. The company's business model leverages operational methodologies and infrastructure analogous to the established energy industry, providing access to a sophisticated regulatory framework, a skilled workforce, and existing social license for resource extraction. Its processing approach is centered on Direct Lithium Extraction (DLE) technology, which involves pumping feedstock from underground reservoirs, extracting the target mineral, and reinjecting the depleted process fluids back into the same formation to provide pressure support and minimize surface footprint. A key operational characteristic is a dual-track technology strategy, prioritizing a commercially ready third-party DLE sorbent for its initial facility to ensure a viable path to market, while concurrently advancing its proprietary sorbent technology for potential deployment in subsequent facilities. This pragmatic approach is designed to de-risk initial development and accelerate commercialization. The integrated process has been validated through pilot-scale testing, which successfully demonstrated the capability to produce high-purity, battery-quality products from the feedstock.

Strategic priorities for 2025 are centered on 5 key initiatives aimed at advancing the first commercial facility towards a construction decision. The plan includes progressing engineering for a feasibility study, constructing and operating a fully integrated demonstration facility to validate the DLE system at scale, and submitting requisite environmental and operational license applications to regulators. A significant component of the strategy involves leveraging non-dilutive capital, having successfully secured multiple grants and contributions from federal and provincial government programs to de-risk technology scale-up and support critical infrastructure development. Management is also focused on advancing discussions with potential strategic partners and securing future offtake agreements to underpin project financing and market entry. A further strategic element is the pursuit of downstream value creation, exemplified by a joint development agreement signed in 2024 with a battery technology company to co-develop a pilot plant for producing metallic anodes and assess the economics of a commercial battery facility.

Governance is overseen by a 6-member Board of Directors, with 5 members identified as independent, ensuring strong oversight and alignment with shareholder interests. The board's structure includes 3 standing committees: an Audit Committee, a Compensation Committee, and a Governance Committee, each composed of independent directors to guide financial reporting, executive remuneration, and corporate governance policies. Executive leadership is complemented by board members with deep, relevant industry and policy experience, including a former provincial Minister of Energy and Minerals and a former Chief Commercial Officer from a major global specialty chemical and mineral producer. The company utilizes a shareholder-approved Omnibus Equity Incentive Plan to align the interests of directors, officers, and employees with long-term value creation. The Chief Development Officer serves as the designated qualified person under national regulatory standards, responsible for reviewing and approving technical disclosures.

The organization's approach to sustainability is integrated into its core operational design. A key environmental feature is the planned use of a closed-loop system where processed fluids are reinjected into the source reservoir, which serves to maintain pressure and minimize freshwater consumption and surface disposal. The central processing facility is strategically planned for a brownfield site, repurposing previously disturbed land to reduce new environmental impact. A significant initiative is the plan to create a zero-waste facility by investigating the sale of a primary solid byproduct to the cement industry, thereby turning a waste stream into a commercial product. The company has also developed a social license strategy that includes proactive and voluntary engagement with First Nations to address values and explore economic development opportunities. Further demonstrating its commitment to industry best practices, the enterprise actively participates in an international technical committee dedicated to developing standardized methods for product quality determination.

In March 2025, the company finalized a Project Completion Agreement with Imperial Oil to secure rights and lease agreements for essential freehold mineral tenure, concluding a collaboration that began in June 2022 with a strategic investment and warrant issuance by the partner. This agreement provides critical access for development and streamlines land tenure. A significant strategic partnership was formed in August 2024 through a Joint Development Agreement with Pure Lithium Corporation, a battery technology firm. This collaboration aims to advance the design of a lithium metal anode and battery pilot plant and to conduct a preliminary economic assessment for a commercial-scale facility, representing a key move toward downstream vertical integration. The corporate structure is also supported by a significant C$27 million strategic investment from the Government of Canada’s Strategic Innovation Fund, announced in November 2022, to de-risk the development and scale-up of its core processing technology and facility.