E3 Lithium Closes Sale of Non-Core Saskatchewan Assets

Core Insights - E3 Lithium has successfully completed the sale of its non-core Estevan Lithium District assets for cash proceeds of US$4.0 million (approximately C$5.6 million) [1][2] - The sale is reported to provide nearly a three-time return on the total cost incurred by E3 Lithium to acquire, hold, and develop the Estevan Assets [3] - The proceeds from the sale will enable E3 Lithium to focus on advancing its flagship Clearwater Project in Alberta, alongside recent equity financing [3] Financial Details - The final cash proceeds from the sale are net of permitted purchase price adjustments of approximately US$0.3 million [2] - E3 Lithium's Clearwater Project has 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% IRR [4] Company Overview - E3 Lithium holds a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) in Measured and Indicated resources, along with 0.3 Mt LCE Inferred resources in Alberta, and 2.5 Mt LCE Inferred resources in Saskatchewan [4]