E-Tech Resources Inc. Commences Its Second Drilling Campaign Including 3000 Meters of RC and 2000 Meters of Diamond Drilling at Its 100% Owned Eureka Ree Project in Namibia

Halifax, Nova Scotia--(Newsfile Corp. - December 2, 2021) - E-Tech Resources Inc. (TSXV: REE) ("E-Tech or the Corporation") is pleased to announce the commencement of a combined diamond drilling ("DD") and reverse circulation drilling ("RC") campaign at its Eureka Rare Earths Project in Namibia following encouraging assay results of the previous DD and RC drilling campaigns, as released on 10 November and 1 December 2021 respectively.

Assay results from DD holes ED008 to ED020 are still outstanding and are expected to arrive within the next months.

The planning for the upcoming combined drilling campaign includes:

  • 34 RC holes totaling 3,000 meters, across Zones 1, 2, 3; and Zone 4 for the first time,
  • 12 DD holes totaling 2,000 meters, across Zones 1, 2 and 3

The targets across all Zones are presented in Figure 1 and the drill targets have been prioritized according to surface geophysical, trenching, RC and DD exploration results.

Elbert Loois, E-Tech Resources Inc. CEO commented, "It is a pleasure to announce the 2nd combined RC and DD campaign this year at our Eureka project site. The results received to date have been very encouraging and we look forward to this program of 3,000 meters of RC and 2,000 meters of DD, which we will increase our understanding of the Project. Thank you to everyone on the E-Tech team for their hard work preparing for this program."

Eureka Zones 1 - 4:

Zone 1:

3 DD holes are planned to further define the depth extent of the carbonatite dykes in Zone 1, as well providing further structural information.

Zone 2:

6 RC holes are planned to test the western extension of the Zone 2 carbonatite dykes, and test the occurrence of a number of parallel dykes within the zone.

Zone 3:

20 RC holes are planned for the southern Zone 3 to test dyke outcrops, recently uncovered by trenching, to depth,

6 DD holes in the southern Zone 3 are designed to provide structural context to the RC drill holes as well as testing the mineralisation to depth beyond the reach of RC and,

3 DD holes in the northern part of Zone 3 designed to test the presence of a series of carbonatite dykes at shallower depths and to provide structural context to the area.

Zone 4:

8 RC holes are planned to test the presence of carbonatite dykes at depth and along the 500 metres where carbonatite dykes have recently been discovered. This is the first time this area has been drilled.

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FIGURE 1: Plan view of drill hole positions at Eureka illustrating all historic and scheduled RC and DD holes, as well as assay results received and pending to date. The red dots are RC drill holes completed in 2017.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6102/106328_3c3a24bb84a55a5e_001full.jpg.

Qualified Person

Pete Siegfried, BSc. (Hons), M.Sc., is a Consulting Geologist and director of GeoAfrica Prospecting Services CC. Mr. Siegfried has reviewed and approved the scientific and technical information in this news release. Mr. Siegfried is a member of The Australasian Institute of Mining and Metallurgy (AusIMM) membership number: 221116 (CP Geology), and a Qualified Person for the purposes of National Instrument 43-101.

About E-Tech Resources Inc.

E-Tech Resources Inc. (TSXV: REE) is a rare earth exploration and development company focused on developing its Eureka Rare Earths Project in Namibia. The Eureka Project is located approximately 250 km north-west of Namibia's capital city Windhoek and 140 km east of Namibia's main industrial port Walvis Bay. The project is situated next to the national B1 highway in the Erongo Region of Namibia. The Eureka deposit lies in the Southern Central Zone of the Neoproterozoic Damara Belt within Exclusive Prospecting Licence ("EPL") number EPL 6762; which covers Eureka Farm 99 and Sukses Farm 90. Namibia is recognized as one of Africa's most politically stable jurisdictions, with an extremely well-established national infrastructure and a clear and transparent mining law. The Corporation continues to assess new project opportunities and expand its Southern African portfolio.

Further details are available on the Corporation's website at www.etech-resources.com or contact Elbert Loois, CEO of E-Tech Resources Inc., at +1 (902) 334 1949.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the completion of the work in Namibia by E-Tech and future plans and objectives of E-Tech. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the applicable company as a going concern and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to completion of exploration programmes and work in Namibia. Actual results may differ materially from results suggested in any forward-looking information. E-Tech assumes no obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings made by E-Tech with Canadian securities regulators, copies of which are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106328

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