Data Shows Strong Demand for Lithium and Cobalt

NEW YORK, March 20, 2018 /PRNewswire/ --

According to data compiled by Grand View Research, the global lithium-ion battery market size is expected to reach $93.1 billion by 2025 and growing at a CAGR of 17%. The strong growth is attributable to increasing demand for rechargeable batteries. Lithium and cobalt are two metals that are important ingredients in batteries used for Electric Vehicles, as well as both residential and utility power storage devices. The increasing requirements by nations for environmentally efficient and beneficial vehicles will drive growth even higher for li-ion components. According to a CNBC report, Jim Burkhard, head researcher of oil and energy and mobility at IHS Markit, explained, "We have [electric vehicles] going up to be 30 percent of new car sales by 2040." Cameo Resources Corp. (OTC: CRUUF), US Cobalt Corp. (OTC: USCFF), First Cobalt Corp. (OTC: FTSSF), Lundin Mining Corp. (OTC: LUNMF), Lithium Americas Corp. (NYSE: LAC)

According to data compiled by BMO Capital Markets, cobalt prices are expected to rise significantly in the next two years. BMO also indicated China's continuously growing market for rechargeable batteries and its importance for the lithium and cobalt markets. China has revised their "E-bus subsidy policy" in recent years. The policy now prioritizes higher battery quality technologies, essentially penalizing LFP (lithium iron phosphate) and benefiting NMC (nickel manganese cobalt) battery technology. According to BMO, "Chinese battery manufacturers have scrambled to add cobalt-containing NMC capacity and also raw materials to fill these given expectations that equivalent quality-driven subsidies will be put in place for car batteries."

Cameo Resources Corp. (OTC: CRUUF) also listed on the TSX Venture Exchange under the ticker (TSX-V: CRU). Earlier today the company announced breaking news that, "it has submitted an exploration permit to the Ministry of Environment to carry out certain exploration activities on the newly acquired Gochager Lake Copper-Cobalt-Nickel project. Once the applicable exploration permits are approved, the Company will immediately relocate a drill rig to the property and begin with the spring exploration campaign.

Consulting geologist Ian Fraser states, "The issuance of the exploration permit will allow for immediate mobilization of the drill rig onto the Gochager Lake property. The drill rig is strategically located near Missinipe; the hamlet of Missinipe is, approximately 20km from the property. The drill rig will be flown to the property by helicopter. Once on site, twinning of historical drill holes can begin. The proximity of the drill rig to the property and available support will make for easy logistics and mobilization."

Gochager Lake Copper-Cobalt-Nickel Project - The project, which consists of four claims covering 3,759 hectares, is located in northern Saskatchewan approximately 75 km north of the town of La Ronge. Historical exploration has identified a semi-massive and massive Ni-Cu deposit with significantly elevated levels of Cobalt, a vital component in the manufacture of the latest generation of lithium ion batteries.

The Gochager Lake Copper-Cobalt-Nickel project has reported grades of up to 3.92% Nickel, 0.70% Copper and 2.86% Cobalt as reported by the Saskatchewan government (Mineral Deposit Index #0880). Historical resource estimates (non-NI43-101 compliant) were generated in 1968 and 1990. The 1968 historic resource for the Gochager Lake deposit calculated 4.3 million tons grading 0.30% Ni and 0.08% Cu. J.S. Steel, reported in 1990, that vertical and longitudinal sections were constructed from the existing data and a historic resource with reasonably well-defined limits was defined containing 1,770,000 tonnes at 0.735% nickel-equivalent."

US Cobalt Corp. (OTCQB: USCFF) is an exploration company focused on the acquisition and development of deposits of production grade metal which are critical components to power storage solutions including lithium-ion batteries for electric vehicles and consumer electronics. On February 23, 2018, the company announced that it has mobilized equipment and has commenced the 2018 underground drilling campaign at the Iron Creek project in Idaho, USA. The initial underground drilling will be from Adit Number Two, on the western extremity of the known mineralization. The objective of this portion of the 2018 underground drilling campaign is to explore for extensions of mineralization further to the west. The total campaign is planned to consist of approximately 15,000 feet of drilling. The objective of the 40-hole, 2017 drilling campaign is to confirm the historical estimates of cobalt mineralization. US Cobalt is conducting the first exploration program at Iron Creek in several decades. The Iron Creek Property covers a west-northwest striking, steeply northerly dipping mineralized zone named the No Name Zone which contains cobalt and copper mineralization in sulfides.

First Cobalt Corp. (OTCQB: FTSSF) controls 50 historic mines over 10,000 hectares as well as a mill and the only permitted cobalt refinery in North America capable of producing battery materials. Recently, the company and US Cobalt Inc. announced they have entered into a definitive agreement whereby First Cobalt will acquire all of the issued and outstanding shares of US Cobalt pursuant to a plan of arrangement, further enhancing First Cobalt's position as a pure-play North American cobalt company. Strategically positions First Cobalt as a leading non-DRC cobalt company with North American projects located in close proximity to infrastructure as well as electric vehicle and technology hubs such as Michigan and California. Combined entity will have an enhanced capital markets profile with a global institutional shareholder base, a strong balance sheet and a proven management team

Lundin Mining Corp. (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24 percent equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland. The refinery processes unrefined cobalt and related metals and manufactures advanced inorganic products for use in a variety of applications in fast-growing end use markets. Freeport Cobalt is one of the world's largest suppliers of cobalt chemicals and powders for use in batteries, pigments and ceramics and powder metallurgy. The Freeport Cobalt refinery has been in operation since 1968 and has an experienced management team, over 400 employees and global sales and marketing footprint that services approximately 500 customers in over 50 countries in Asia, Europe and the Americas.

Lithium Americas Corp. (NYSE: LAC), together with SQM, is developing Cauchari-Olaroz, located in the Province of Jujuy, Argentina, through its 50% interest in Minera Exar. In addition, Lithium Americas owns 100% of Lithium Nevada (formerly Kings Valley project), and RheoMinerals Inc., a supplier of rheology modifiers for oilbased drilling fluids, coatings, and specialty chemicals. On January 18, 2018, the company announced that it continues to advance Lithium Nevada, a clay-based lithium resource in the McDermitt Caldera. The 2017 exploration drill program was completed on time and budget with assay results expected in the coming months. Planning for a further 2018 exploration drill program is underway and focused on mapping the extent of the deposit.

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