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Lithium Resource Estimate Exshaw West Property

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Lithium Resource Estimate Exshaw West Property E3 Metals Corporation NI 43-101 EWRA Inferred Lithium Resource Estimate NI 43-101 TECHNICAL REPORT LITHIUM RESOURCE ESTIMATE for the EXSHAW WEST PROPERTY SOUTH-CENTRAL ALBERTA, CANADA Prepared for E3 METALS CORPORATION #205 - 227 10th St NW Calgary, AB T2N 1V5 Prepared by: Gordon MacMillan, P.Geol, QP, Fluid Domains Inc. Grahame Binks, MAusIMM, QP (Metallurgy), Sedgman Canada Limited Report Date: June 15, 2018 Effective Date: June 4, 2018 1 Alberta Petro-Lithium Project, Alberta, Canada E3 Metals Corporation NI 43-101 EWRA Inferred Lithium Resource Estimate Important Notice Regarding Forward-Looking Information This report contains forward-looking statements or forward-looking information under applicable Canadian securities laws (hereinafter collectively referred to as "forward-looking statements") concerning E3 Metals Corp.’s properties, operations and other matters. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of the applicable author(s). Statements concerning estimates of mineral resources may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward- looking statements. All forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, reliance on emerging technology not yet proven in high-volume commercial applications, fluctuating commodity prices, results of current and future testing, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Forward-looking statements are made based on the writer’s beliefs, estimates and opinions on the date the statements are made and neither the authors hereof nor E3 Metals Corp. will undertake any obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, other than as required by applicable laws. Investors are cautioned against attributing undue certainty to, or placing undue reliance on, forward-looking statements. 2 Alberta Petro-Lithium Project, Alberta, Canada E3 Metals Corporation NI 43-101 EWRA Inferred Lithium Resource Estimate Table of Contents IMPORTANT NOTICE REGARDING FORWARD-LOOKING INFORMATION .................................................................... 2 LIST OF FIGURES .................................................................................................................................6 LIST OF TABLES ..................................................................................................................................7 1 SUMMARY ......................................................................................................................................8 2 INTRODUCTION ............................................................................................................................. 10 2.1 TERMS OF REFERENCE ............................................................................................................................ 10 2.2 SOURCES OF DATA ................................................................................................................................. 11 2.3 SITE VISIT ............................................................................................................................................. 11 3 RELIANCE ON OTHER EXPERTS ....................................................................................................... 11 4 PROPERTY DESCRIPTION AND LOCATION ....................................................................................... 11 4.1 LOCATION............................................................................................................................................. 11 4.2 PROPERTY DESCRIPTION ......................................................................................................................... 13 4.3 ENVIRONMENTAL ISSUES ......................................................................................................................... 16 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY .................... 16 5.1 ACCESSIBILITY ....................................................................................................................................... 16 5.2 CLIMATE .............................................................................................................................................. 17 5.3 LOCAL RESOURCES ................................................................................................................................. 19 5.4 INFRASTRUCTURE ................................................................................................................................... 19 5.5 PHYSIOGRAPHY ..................................................................................................................................... 20 6 HISTORY ........................................................................................................................................ 20 6.1 OIL DRILLING HISTORY ............................................................................................................................ 20 6.2 WELL LOGS ........................................................................................................................................... 21 6.3 DRILL STEM TESTS ................................................................................................................................. 21 6.4 PRODUCTION, INJECTION AND DISPOSAL ................................................................................................... 22 6.5 HISTORICAL LITHIUM DATA ..................................................................................................................... 23 7 GEOLOGICAL SETTING AND MINERALIZATION ................................................................................ 24 7.1 GEOLOGICAL SETTING ............................................................................................................................. 24 7.2 PRECAMBRIAN BASEMENT ...................................................................................................................... 27 7.3 PHANEROZOIC STRATA............................................................................................................................ 28 7.4 QUATERNARY GEOLOGY.......................................................................................................................... 29 7.5 STRUCTURAL HISTORY ............................................................................................................................ 29 7.6 MINERALIZATION ................................................................................................................................... 30 8 DEPOSIT TYPES .............................................................................................................................. 30 9 EXPLORATION ............................................................................................................................... 31 9.1 SAMPLE WELLS ..................................................................................................................................... 31 9.2 FIELD SAMPLING .................................................................................................................................... 31 10 DRILLING ..................................................................................................................................... 34 3 Alberta Petro-Lithium Project, Alberta, Canada E3 Metals Corporation NI 43-101 EWRA Inferred Lithium Resource Estimate 11 SAMPLE PREPARATION, ANALYSES AND SECURITY ....................................................................... 34 11.1 SAMPLE PREPARATION AND SECURITY ..................................................................................................... 34 11.2 ANALYSES ........................................................................................................................................... 35 11.2.1 Standards and Blanks ............................................................................................................... 35 11.2.2 Duplicate Analysis .................................................................................................................... 35 11.2.3 Sampling Program Results ......................................................................................................
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