E3 LITHIUM LTD. announced the inaugural inferred mineral resource of ~2.5 million tonnes of lithium carbonate equivalent (LCE) contained within the Estevan Lithium District located in southeast Saskatchewan. E3 Lithium acquired its Saskatchewan property in 2021, situated near the city of Estevan. The Company?s permit area covers approximately 67,000 hectares of crown mineral permits within the Estevan Lithium District.

Recent lithium exploration near E3 Lithium?s land holdings have shown high lithium concentrations, including up to 259 mg/L in the Duperow Formation. The elevated lithium concentrations of interest exist within the Duperow Formation, which was broken down into six distinctive zones based on geological characteristics. The resource estimate has been calculated across E3 Lithium?s permits within the Estevan Lithium District and was developed in stages.

First, data complication and review of existing reports within the Estevan Lithium District were conducted. Then, a reservoir depositional framework was developed based on core descriptions and lithofacies analysis. Thirdly, petrophysical modeling on geophysical wireline logs, validated against core analysis where possible, was performed.

Finally, geological maps were generated, and leveraged for reservoir volume calculations. The mineral resource estimate for the Estevan property is summarized in the table below. The mineral resource is considered inferred due to the geological evidence being sufficient to imply but not verify geological grade, or quality continuity.

The mineral resource estimate was completed by a multi-disciplinary team led by E3 Lithium and supervised by Alex Haluszka and Jason Clarke of Matrix Solutions Inc. acting as QP. The estimate was completed using volumetric analysis based on geological parameters of reservoir geometry, effective porosity, permeability, and dissolved lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Saskatchewan.

Key data sets used to determine reservoir brine parameters in the resource area include: core plug analyses (effective porosity/?PhiE? and permeability), and wireline logs (lithology, total porosity/?PhiT? and relative permeability).

To calculate the brine volume for each zone within the Duperow, the E3 Lithium permit area was multiplied by the net reservoir thickness (P50 value, using a 2% porosity cut-off), multiplied by the effective porosity (P50 value, above the 2% cut-off), multiplied by the expected brine saturation in the reservoir (99%). From there, the Original Lithium in Place (OLIP) is calculated by multiplying by the lithium concentration (P50 value for each zone).