CA - E3 Lithium announces acquisition of Clearwater Royalty

• E3 Lithium ( OTCQX:EEMMF ) has acquired the Clearwater Project Gross Overriding Royalty ("the "Royalty") which was negotiated in 2016 during the original amalgamation of E3 Lithium's (E3) permits in the Clearwater Project Area within the Bashaw District.
• As per the original agreement, the company had the option to purchase the Royalty by September 30, 2022.
• The Royalty would have provided the original owner with 2.25% of gross revenue from any metallic and industrial mineral production.
• Based on E3's Preliminary Economic Assessment released in 2020, the value of the Royalty would have been approximately $8.5M CAD per year.
• Using recent lithium prices, the Royalty would be significantly higher, outlining the clear economics behind deciding to acquire the Royalty for $0.8M CAD.
• "The purchase of this royalty outlines the confidence we have in the value and timeframe of our project," said Chris Doornbos, President and CEO of E3 Lithium ( OTCQX:EEMMF ). "The royalty burden using today's prices that E3 has now eliminated provides improved economics in the Clearwater Project and significant shareholder value.

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