Leadership transition supports E3's next phase of project execution and operational readiness
E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3&, “E3 Lithium& or the “Company,& a leader in Canadian lithium development, announces a senior leadership transition with the appointment of Tom Gear as Chief Operating Officer, effective June 8, 2026, and the retirement of Kevin Carroll, Chief Development Officer.
Tom Gear is an energy executive with nearly three decades of experience spanning petroleum refining, major projects, commodity trading, commercial development, and large-scale oil sands operations. Most recently, in his role as Senior Vice President Oilsands at MEG Energy, Tom was a key driver of operational performance and part of the leadership team that delivered the company's $8.6 billion strategic acquisition by Cenovus Energy in 2025. Prior to MEG Energy, Tom spent 24 years at Suncor and legacy Petro-Canada, including serving as Vice President, Environment, Health & Safety. A Governor General's Canadian Leadership Conference alumnus and former Board Chair of the Fort McMurray Chamber of Commerce, Tom brings national leadership perspective alongside deep operational expertise. Tom is registered as a professional engineer with the Association of Professional Engineers and Geoscientists of Alberta (APEGA).
“E3 has built something genuinely rare — a world-class resource, a clear path to production, and an exceptional team,& said Tom Gear, newly announced Chief Operating Officer of E3 Lithium. “I'm excited and honoured to join E3 and get Clearwater to commercial operations. This will be the first of its kind in Canada, opening a new chapter in this country's critical minerals story.&
“After an extensive search, we are very pleased to welcome Tom to the executive team as Chief Operating Officer,& said Chris Doornbos, CEO & Chair of E3. “His extensive experience leading large-scale industrial operations, driving organizational excellence, and developing high-performing teams will be invaluable as we move closer to construction and operations of the Clearwater Project. On behalf of the Board of Directors and the entire Company, I want to thank Kevin for his outstanding contributions. Kevin has played a key role in advancing the Clearwater Project and helping establish the strong technical and operational foundation from which we will grow."
Kevin Carroll has played an important role in E3 Lithium&s growth and development, contributing to the advancement of the Clearwater Project through key exploration, engineering, development, and operational milestones. Throughout his tenure, Kevin has been recognized for his principled leadership, commitment to operational excellence, and unwavering focus on maintaining safe work practices across E3&s activities. Kevin's last day will be June 12, 2026, and he will remain with the Company in an advisory capacity during a transition period to ensure a smooth handover of responsibilities.
“It has been a privilege and exciting capstone to work with the E3 team to advance Canada&s first commercial brine-hosted lithium development to help meet fast growing world lithium demand,& said Kevin Carroll, retiring Chief Development Officer of E3. “I am confident the dedication, innovation, and talent of the E3 team will continue to drive the company's long-term success, and I look forward to following the team&s continuing endeavours in developing the Clearwater Project.&
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Doornbos, CEO & Chair
E3 Lithium Ltd.
About E3 Lithium
E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated1 as well as 0.3 Mt LCE Inferred mineral resources2 in Alberta. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with 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% IRR1.
1:The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, identified 16.2 Mt LCE (measured and indicated) and is available on the E3 Lithium&s website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
2:The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and is available on the E3 Lithium&s website (www.e3lithium.ca/technical-reports/) and SEDAR+ (www.sedarplus.ca).
Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release.
Forward-Looking and Cautionary Statements
This news release includes certain forward-looking statements as well as management&s objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as “believe&, “may&, “will&, “plan&, “expect&, “anticipate&, “estimate&, “intend&, “project&, “potential&, “possible& and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company&s expectations; that the current exploration, development, environmental and other objectives concerning the Demonstration Facility can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Demonstration Facility will be obtained in a timely manner and on acceptable terms.
All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company&s brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company&s lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company&s profile on SEDAR+ (www.sedarplus.ca). Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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