Pure Lithium Enters Into a Lithium Metal Battery Joint Development Agreement Using E3 Lithium Brine

BOSTON, MA / ACCESSWIRE / August 20, 2024 / Pure Lithium Corporation "PL", a disruptive Boston-based vertically integrated lithium metal battery technology company, is pleased to announce it has signed a Joint Development Agreement, with E3 Lithium Ltd. (TSXV: ETL;FSE: OW3;OTCQX: EEMMF), "E3", Alberta's leading lithium developer and extraction technology innovator, to advance the design of a lithium metal anode and battery pilot plant and to complete a Preliminary Economic Assessment of a commercial lithium metal battery facility in Alberta using Pure Lithium's patented vertically integrated Brine to Battery™ technology and E3's lithium concentrate.

E3 announced on June 29, 2022 that a lithium metal battery had been made by Pure Lithium from E3 lithium concentrate. At that time, the two companies signed a Memorandum of Understanding to complete further testing and validation work. Since then, Pure Lithium has been using E3's lithium concentrate to produce lithium metal cells that have higher energy density than today's lithium-ion batteries, and do not contain nickel, cobalt or graphite.

Over the next 12 months E3 and Pure Lithium will work together to complete a rigorous techno-economic model, continue 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. Upon successful completion of these studies, the two companies will evaluate the next steps, which could include construction and operation of the pilot to produce 200kg of lithium metal anodes for use in lithium metal vanadium rechargeable batteries. Upon successful completion of the pilot, the companies will move forward to demonstrate the world's first vertically integrated lithium metal battery production at commercial scale.

"Securing a supply of lithium is something all battery and battery material companies have historically struggled to do. We are doing things differently and solving this problem first with trusted partners prior to the commencement of battery production", said Pure Lithium Founder & CEO, Emilie Bodoin. "After two years of diligent work, E3 has continuously provided Pure Lithium with lithium concentrate and we are excited to use this concentrate as we scale. Producing our lithium metal anodes from concentrate dramatically reduces the cost of battery production. Eliminating the need to prepare anodes for shipping and handling also leads to increased performance in the battery. We are thrilled to be moving this project forward, and to continue working with the fantastic team at E3." Pure Lithium is represented by Skadden, Arps, Slate, Meagher & Flom LLP on the transaction.

"Integrating the E3 DLE flow sheet with Pure Lithium's electrodeposition technology shows significant promise to deliver low cost, sustainable batteries that would be industry leading," commented E3 CEO, Chris Doornbos. "We are very excited to be taking this next step with Emilie and her team to bring the battery out of the lab and into Alberta, an accomplishment that would be a major step towards a commercial Brine to Battery™ process."

About E3 Lithium

E3 Lithium is a development company with a total of 16.0 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated and 0.9 million tonnes LCE Inferred mineral resources¹ in Alberta. As outlined in E3's Preliminary Economic Assessment, the Clearwater Lithium Project has an NPV8% of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax¹. E3 Lithium's goal is to produce high purity, battery grade lithium products to power the growing electrical revolution. With a significant lithium resource and innovative technology solutions, E3 Lithium has the potential to deliver lithium to market from one of the best jurisdictions in the world.

1: The Preliminary Economic Assessment (PEA) for the Clearwater Lithium Project NI 43-101 technical report as amended Sept 17, 2021. The mineral resource NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, identified 0.9Mt LCE (inferred). The mineral resource NI 43-101 Technical Report for the Bashaw District Project, effective March 21, 2023, identified 16.0Mt LCE (measured & indicated). All reports are available on the E3 Lithium's website (e3lithium.ca/technical-reports) and SEDAR (www.sedar.com).

About Pure Lithium

Pure Lithium is a disruptive Boston-based company led by world-renowned battery and metallurgical expert, MIT Emeritus Professor Donald R. Sadoway, as full-time CSO, and inventor and lithium expert, CEO Emilie Bodoin. The Company's novel Brine to Battery™ technology unlocks unconventional sources of lithium to create a battery-ready electrode in one day. The resulting lithium metal vanadium battery is free of excess lithium, cobalt, nickel, manganese and graphite. For more information, visit www.purelithium.io.

SOURCE: Pure Lithium