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HALIFAX, NOVA SCOTIA – November 16, 2022 – E-Tech Resources Inc. (“E-Tech or the Company”) (TSX-V:REE, XFRA:K2I) is pleased to announce the identification of 17 robust drill targets defined through the recently completed ground geophysical and exploration mapping programs.

Highlights:

• An initial seventeen (17) drill target areas have been identified following the ground radiometric and magnetic geophysical surveys, and geological mapping program.
• The initial target areas comprise favourable geophysical, geological and structural features akin to those of the original Eureka Zone 1 discovery.
• Drilling is scheduled to commence in the last week of November with approximately 3,000 meters (“m”) planned.

Jim Megann, Interim CEO, commented, “By taking the learnings from our previous exploration over the original Eureka Zone 1 discovery, we have been able to identify 17 extremely compelling drill targets. In just three months, we have defined these high-quality targets, all with similarities to the original discovery. Other targets could well emerge from the remaining areas still being investigated. We look forward to providing updates on the drilling results over the next couple of months.”

The 3,000 m Reverse Circulation (“RC”) drill program planned over these 17 target areas will be driven by real time outcomes based upon results from the recently acquired portable X-Ray Fluorescence (pXRF) unit. This systematic approach will allow the Company to optimize the targeting methodology and plan follow-up holes on each target during the drilling program.

The target areas have been defined by the following key indicators:

Anomalous thorium radiometric signature, as thorium is contained within monazite.

1. Favourable lithologies, including carbonates and monazite identified during the geological mapping program.
2. An association with structural features interpreted from the magnetic ground geophysical survey and believed to play an important role in the location of the Eureka deposit.
3. Other drill target areas include discrete radiometric highs proximal to favourable and historical geochemistry results.

Historical exploration work completed by the Company has primarily been focused on an expansive drill program targeting our numerous high-grade (> 4% TREO) discoveries known as Zone 1, 2 and 3 (see News Release dated November 10, 2021). Results from these programs have demonstrated significant potential of REE mineralisation in the broader area. Since July 2022, the Company has focused exploration efforts on identifying target areas within the rest of Eureka Project. These targets represent favorable geophysical and geological features that mirror those of the original Eureka discovery. The majority are interpreted to have shallow overburden (approx. 2-3 meters) and an oxidation profile (approx. 50 metres).

This initial drilling program is designed to confirm associations, extent and understand the larger systems’ potential to host a substantial REE deposit. Following this program, infill RC and diamond drilling will be undertaken over mineralised areas including those already identified.