Lithium-ion Batteries are Becoming More Sought-after due to Electric Vehicles

NEW YORK, June 29, 2018 /PRNewswire/ --

According to data compiled by Transparency Market Research, the global lithium-ion battery market was valued at USD 29.68 Billion in 2015 and is expected to reach USD 77.42 Billion by 2024, while growing at a CAGR of 11.6%. The market is primarily driven by the demand for consumer electronics, grid energy, as well as industrial, and automotive demand. Currently, the consumer electronic segment contributes to almost half of the global market revenue. The growing number of smartphones is currently the driver of the market, but that is expected to shift once electric vehicles become more widely available. The electric vehicle industry is expected to contribute heavily to the battery market as many countries begin to shift to a more environmentally efficient alternative. Vatic Ventures Corp (OTC: VTTCF), First Cobalt Corp. (OTC: FTSSF), Katanga Mining Limited (OTC: KATFF), Glencore Plc (OTC: GLCNF), eCobalt Solutions Inc. (OTC: ECSIF)

Lithium-ion batteries are highly attractive to manufacturers because of their small compact size and ability to hold a large charge. The batteries are also rechargeable and recyclable, offering a cheaper and eco-friendlier solution. Due to their rechargeability, lithium-ion batteries are used in electric vehicles, allowing for zero-emission driving. Currently, government regulators are aggressively pushing out the deployment of electric vehicles due to rising environmental concerns, increasing the demand for their batteries. The surge in demand is outpacing the readily available supply, which has resulted in increasing prices for lithium-ion battery components. "The battery industry is expanding capacity to meet the forecast EV demand, which is being mirrored by converters' capacity. The level of investment in the raw material part of the chain (hard rock mines and brines) is accelerating, but needs to accelerate faster," said David Whitten, Head of Global Natural Resources and a Fund Manager at Janus Henderson Investors.

Vatic Ventures Corp (OTC: VTTCF) also listed on the TSX Venture Exchange under the ticker, (TSX-V: VCV). Just yesterday, the company announced breaking news that, "it has signed a memorandum of understanding (the "MOU") with Falcon Gold Corp. ("Falcon") for the Wabunk Bay cobalt claims (the "Property") adjoining Uchi mine, northwestern Ontario, Canada. Vatic has the right to earn a 60% interest from Falcon (the "Option") by meeting certain expenditure and consideration requirements on the Property. Falcon has an underlying agreement with the property owner whereby it has the right to acquire a 100% interest in 2 (cobalt, copper, nickel & PGE's) mining claims in Earngey Township in the Kenora District of northwestern Ontario. The claims comprise 19 claim units and cover an area of approximately 304 hectares (see the Falcon press release of June 13, 2018). The Wabunk Bay property is highly prospective for cobalt, and the Company believes that it can explore and develop potential in a short timeframe there.

The Property is subject to a 2 kilometer area of interest and is subject to a 1% NSR in favour of the underlying owner which can be purchased for $1 million any time before commercial production. Upon exercise of the Option the Company and Falcon will form a 60/40 joint venture for further development of the Property subject to the right of the Company to acquire Falcon's 40% interest by issuing shares of the Company to Falcon based on a valuation to be conducted by at least three valuators.

Wabunk Bay Sulphide Mineralization - In 1957, the Ontario Department of Mines reported in its Mineral Resource Circular No. 2 ("MRC 2"): "The showings occur entirely within a coarse-grained hornblende gabbro cutting greenstone, sediments, and various intrusive rocks. The gabbro is 200 feet wide and has a maximum width of 300 feet. The southern 1,000 feet of this body strike north then swing to the northwest for an additional length of 1,800 feet. Chalcopyrite, pyrrhotite, and pyrite occur where the gabbro is sheared and especially at the contacts of narrow diabase dikes, which strike north to northeast and are younger than the gabbro."

The MRC 2 further reported on the Wabunk Bay mineralized zones: "The main showing lies in the north-south portion of the gabbro, strikes near north, and is about 300 feet long; although mineralization is not continuous, it is found along a length of 600 feet. The average width of mineralization cut in five drill holes is 21 feet. An 18-foot chip sample ran 1.08 percent copper and 0.40 percent nickel. A 22-foot chip sample ran 0.44 percent copper and 0.12 percent nickel. The best 25 feet of drill core assayed 0.62 percent copper and 0.04 percent nickel. Core assays gave as high as 0.03 percent cobalt."

Wabunk Bay Exploration History - The history of exploration work in the area of the Wabunk Bay Cobalt Claims is summarized as follows:

• 1941 - Sulphide mineralization is discovered by Mike Colberg.
• 1955 - A prospector, Joe Kolak, restaked the showings and optioned the property to Campbell Island Mines and Exploration Ltd. Work completed included geophysical surveys, trenching and 6 diamond-drill holes, totaling 390 feet in 1956. Surface samples assayed 0.33% Co over 1.5m and 0.15% Co over 7.6m.
• 2003 - Jilbey Gold Exploration Ltd. carried out a large regional reconnaissance program in the greenstone belts south and east of Red Lake, Ontario. The Wabunk Bay area was covered by an airborne geophysical survey that identified two magnetic and conductive anomalies.

About Cobalt - Demand for Cobalt, a key ingredient in Lithium-ion batteries, is expected to grow by 40% in 2018 mainly as a result of the adoption of electric and hybrid vehicles in Europe, China, the US and elsewhere; this growth in demand comes on top of significant growth in the recent past that already caused significant price increases for the metal during 2017. With the main source of Cobalt being the African Copper belt Countries Zambia and the DRC, countries where a multitude of established companies and juniors have already staked their claims, any diversification in resource opportunities is welcome. The Company expects the Wabunk Bay project to be such an opportunity.  

Qualified Person - The technical content of this news release has been reviewed and approved by Mr. Pieter J. Bakker, MSc. FAusIMM, who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects."

First Cobalt Corp. (OTCQX: FTSSF) is a vertically integrated, North American, pure-play cobalt company. Earlier this month, the Company announced that, drill results from the Iron Creek Project in Idaho, U.S.A., continue to extend cobalt mineralization in the Waite Zone by an additional 50 meters to the west as well as to surface. The Waite Zone lies south and parallel to the historic No Name Zone. Mineralization has also been intercepted beyond the footwall of the Waite Zone, providing new targets for future drilling. The 2017 drilling was completed to confirm a historic estimate (non-compliant with NI 43-101) of 1.3 Million tons grading 0.59% cobalt and 0.3% copper done in 1980 by Noranda Inc. That program covered a 460-meter strike length, primarily in the No Name Zone, and the results are the basis for a mineral resource estimate expected to be completed by October of 2018. First Cobalt is now undertaking a 70-hole, 30,000-meter drill program designed to double the strike length of the cobalt-copper mineralized zone to 900-meters.

Katanga Mining Limited (OTC: KATFF) operates a large-scale copper-cobalt project with substantial high-grade mineral reserves and integrated metallurgical operations in the Democratic Republic of Congo (DRC). All assets and operations of Katanga Mining Limited are located in the Katanga Province of the Democratic Republic of Congo. It is a vast country with immense economic resources, including an estimated 10% of the world's copper and 50% of its cobalt. Recently, the Company announced that, together with its 75% operating subsidiary in the Democratic Republic of the Congo, Kamoto Copper Company, it has completed the transactions contemplated by the settlement agreement announced on June 12, 2018, with the Company's joint venture partner, DRC state-owned company La Générale des Carrières et des Mines.

Glencore Plc (OTC: GLCNF) is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Company is one of the world's leading producers of cobalt, a metal in rising demand thanks to its use in batteries for electric vehicles and portable electronics. The Company produces cobalt mainly as a by-product of copper mining in the Democratic Republic of Congo (DRC), but also as a by-product of nickel mining in Australia and Canada. Glencore is also one of the largest recyclers and processors of cobalt-bearing materials, such as used batteries, helping secure the supply of the metal at a time of increasing demand.

eCobalt Solutions Inc. (OTCQX: ECSIF) commits to providing clean cobalt products essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. The Company's ICP, located in East Central Idaho, is the only environmentally permitted, primary cobalt project in the United States. It is 100% owned by the Company's wholly-owned subsidiary, Formation Capital Corporation, U.S. Recently, the company provided an update on the status of the Optimized Feasibility Study and on progress of project financing for the Company's 100% owned Idaho Cobalt Project, located near the town of Salmon, in the heart of the Idaho Cobalt Belt. Metallurgical optimization testing continues on ore material from the ICP's Ram deposit with over 8 tons of ore used to advance this test work. As previously disclosed, laboratory-scale testing successfully demonstrated that ICP ore was amenable to arsenic ("As") removal from concentrates by conventional roasting methods, in line with the Company's direction to produce a clean (low arsenic content) cobalt concentrate product, an upstream precursor material for battery cathode production.

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