E-Tech Resources Inc. Signs a Letter of Intent with SRC to Collaborate on Rare Earth Cracking and Separation

March 15, 2022 8:05 AM EDT | Source: E-Tech Resources Inc.

Halifax, Nova Scotia--(Newsfile Corp. - March 15, 2022) - E-Tech Resources Inc. (TSXV: REE) (FSE: K2I) ("E-Tech") announces the signing of a non-binding Letter of Intent with the Saskatchewan Research Council ("SRC"). The parties intend to cooperate in the sourcing of Monazite Concentrate, test work and pilot scale hydrometallurgy to produce a mixed rare earth carbonate/chloride and rare earth oxide separation, all originating from the Eureka monazite mineral project in Namibia.

Elbert Loois, CEO of E-Tech Resources, comments:

"E-Tech is pleased to have selected SRC as a potential processing provider for Eureka's rare earth cracking and separation, based on its decades of experience in concentration and separation technologies of Rare Earths Elements (REE) from various minerals. This Letter of Intent is an important milestone in our gradual development towards a tested and saleable product to industrial specifications."

About E-Tech Resources Inc.

E-Tech Resources Inc. (TSXV: REE) (FSE: K2I) 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 140km 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 License ("EPL") number EPL 6762, which covers farms Eureka 99 and Sukses 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.

About Saskatchewan Resource Council (SRC)

SRC is Canada's second largest research and technology organization. With nearly 300 employees, $137 million in annual revenue and nearly 75 years of experience, SRC provides services and products to its 1,500 clients in 27 countries around the world.

SRC, a leader in the development of processing and separating technologies, is working closely with mining companies in Saskatchewan, Canada and globally on the concentration and separation of REE ore. SRC's Rare Earth Processing Facility, slated to be fully operational in 2024, will be a catalyst to stimulate the resource sector in Saskatchewan and across North America, providing the early-stage supply chain needed to generate industry investment and growth - an important piece of the puzzle in the energy transition.

Further details are available on the organization's website at https://www.src.sk.ca or contact Rebecca Gotto, Communications Advisor at +1 (306) 371 2127.

Cautionary Statements

This press release may contain forward-looking information, such as statements regarding the completion of the work in Namibia by E-Tech Resources and future plans and objectives of E-Tech Resources. 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 programs and work in Namibia. Actual results may differ materially from results suggested in any forward-looking information. E-Tech Resources 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 Resources 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.

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