Demand for Cobalt in Batteries Continues to Grow as Electric Vehicles Spread

NEW YORK, September 25, 2018 /PRNewswire/ --

According to a report from Roskill Information Services, demand for cobalt in batteries has increased at a rate of 13.5% per year between 2010 and 2017 and is expected to grow at a faster rate of 14.5% per year to 2027. Cobalt is a key ingredient in lithium-ion batteries, which are now widely used in electronic devices and electric vehicles. Increasing adoption of electric vehicles and hybrids globally is projected to be a significant contributor for the growth lithium-ion-battery market. The report indicated that the battery sector had accounted for about 53% of total cobalt consumption. Surge Exploration Inc. (OTC: SURJF), Canada Cobalt Works Inc. (OTC: CCWOF), Katanga Mining Limited (OTC: KATFF), First Cobalt Corp. (OTC: FTSSF), eCobalt Solutions, Inc. (OTC: ECSIF).

The proliferation of EVs continues to increase many company's interests in raw material, which are used in batteries. Roskill says in its report: "Thereafter, a combination of further expansions from existing miners, new projects, and perhaps the re-start of some operations on care and maintenance will be required if supply is to meet demand. With the vast majority of cobalt mined as a by-product of copper and nickel mining, future mine supply is complicated by the fact that cobalt output is principally governed by demand for, and subsequent supply of, copper and nickel."

Surge Exploration Inc. (OTC: SURJF) is also listed on the Toronto Stock Exchange Venture under (TSX-V: SUR). Earlier today, the Company announced, "the proposed 2018 and 2019 Exploration Programs for its Teledyne Cobalt & Glencore Bucked Properties located in Ontario Canada situated in Bucked & Lorraine Townships, 6 km east-northeast of Cobalt, Ontario. After recent discussions with its geological team and US Corporate Advisor, Wellington Shields & Co., it was determined that an additional 5,500 m of drilling was needed to work towards the completion of a NI 43-101 resource estimate on the properties. This work will commence starting October 1st, 2018.

Alongside the proposed drilling program, a proposed exploration program will also involve surface exploration work which includes geological mapping and prospecting that is recommended to further evaluate the geological potential of each cobalt property. Management believes that potential remains on the Glencore Bucked Property for the discovery of parallel mineralized zones to that of the Northwest and Main zones, and west of the Teledyne Main Zone on the Teledyne Cobalt Property.

Drilling Plan: Glencore Bucked Cobalt Property: A two-phase diamond drilling program of up to 4,000 m (13,123 ft.) has been planned by Surge to continue to test the mineralization along strike of the Northwest and Main zones, with the intent of completing a NI 43-101 resource estimate upon its completion, as well as testing any other targets that may be generated from the surface mapping and prospecting programs. Drilling Plan: Teledyne Cobalt Property: A two-phase drilling program of up to 1,500 m (4,921 ft.) has been planned to extend the known mineralization on the Main Zone and follow up on targets generated from the Phase 2 surface exploration program.

The proposed multi-phase diamond drilling programs follow up the successful completion of the Teledyne & Glencore Bucked Phase 1 diamond drilling programs during the fall of 2017. Here, a combined 32 diamond drill holes totaling over 4,100 m (13,451 ft.) of drilling was completed. Historical Work Completed: Glencore Bucked Property- In 1981, Teledyne Canada Ltd., completed 36 diamond drill holes totaling 10,903 ft (3323.3 m) on the Property, and delineated two mineralized zones, named the Main Zone and Northwest Zone, measuring 500 ft (152.4 m) and 200 ft (70.0 m) in length respectively (Breese, 1982). Based on the surface drill program completed by Teledyne, historical reserves of 60,000 tons in the geologically inferred category, and 15,000 tons in the probable category, at an average grade of 0.45% Co, 3.0 oz/t Ag was estimated (Linn, 1983).

Teledyne Property- From 1979 through to 1980, Teledyne Canada Ltd., completed 6 surface diamond drill holes and 22 underground diamond drills for an aggregate of 3,160.8 m (10,370 ft.) on the Teledyne Cobalt Property. Based on the surface and underground diamond drill programs, historical reserves of 60,000 tons in the geologically inferred category, and 40,000 tons in the probable category, at an average grade of 0.45% Co, 0.6 oz/t Ag was estimated (Linn, 1983). It should be noted that the reserve estimates above are historical estimates as defined by National Instrument 43-101. The historical reserve estimates contain categories that are not consistent with current CIM definitions. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. No attempt was made to reconcile the historical reserve calculations as reported by Teledyne Canada Ltd. Surge is not treating the historical reserve estimate as a current mineral resource or mineral reserve."

Mr. Tim Fern back, President & CEO of Surge comments 'Following up on a successful Phase 1 exploration program at both Glencore Bucked and Teledyne, Surge and its partners, have prepared additional drilling exploration programs on both properties with the intent to complete a NI 43-101 resource estimation on both properties. We are very excited about commencing our multi-phase phase diamond drilling on both the Teledyne and Glencore Bucked properties on October 1st this year.'"

Canada Cobalt Works Inc. (OTCQB: CCWOF) is a pure play cobalt company focused on its past producing Castle mine in the Northern Ontario Cobalt Camp, Canada's most prolific cobalt district. Canada Cobalt Works Inc. recently announced that ongoing underground drilling has intersected visual cobalt mineralization in most of the 40 drill holes completed to date, covering a distance of 200 meters, while surface drilling of high-value targets has commenced approximately 1.5 km east of the Castle mine near Gowanda in the Northern Ontario Cobalt Camp. Jacques Monette, Mine Supervisor and Canada Cobalt Director, commented: "Activity remains intense. In addition to continuing to intersect promising vein structures underground, with the latest drilling occurring near the #3 Shaft where there is an impressive network of veins, the pilot plant is operating smoothly while we've also launched a cost-effective program to dewater the second level of the mine. Surface drilling more than a kilometer east of the mine has crews excited about the prospect of a potential new discovery."

Katanga Mining Limited (OTC: KATFF) operates a major mine complex in the Democratic Republic of Congo producing refined copper and cobalt. The Company has the potential to become Africa's largest copper producer and the world's largest cobalt producer. Katanga is listed on the Toronto Stock Exchange under the symbol KAT. Katanga Mining Limited recently announced its 2018 second quarter financial results. Copper revenue increased to USD 204.4 Million in Q2 2018 from USD 146.5 Million in Q1 2018. Cobalt revenue increased to USD 141.1 Million in Q2 2018 from USD nil million in Q1 2018. The increase in copper and cobalt revenue for both periods relates to an increase in sales of copper cathode and cobalt contained in hydroxide due to the resumption of production in December 2017 following the completion of phase 1 of the WOL Project and the ongoing ramp-up of production in 2018.

First Cobalt Corp. (OTCQX: FTSSF), as a vertically integrated North American cobalt company, its strategy is to explore, develop and refine material in North America for sale back into the American battery market. First Cobalt Corp. recently announced the acquisition of 100% ownership and elimination of the outstanding royalty on the Iron Creek property in Idaho, USA. "Our outlook for the Iron Creek Project was instrumental in the decision to eliminate the outstanding royalty and acquire 100% ownership of the project at this time. Drilling has identified two broad zones of cobalt-copper mineralization that extend well beyond the historic resource area. The Company is fully funded to complete our work programs in the USA and Canada this year and into 2019. We anticipate releasing preliminary metallurgical work and the maiden resource estimate for Iron Creek in the next few weeks."

cobalt Solutions, Inc. (OTCQX: ECSIF) is a Toronto Stock Exchange listed company committed 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. eCobalt Solutions Inc. recently reported that construction continues to advance on time and on budget at its Idaho Cobalt Project (the "ICP"), located near the town of Salmon, in the heart of the historic Idaho Cobalt Belt. The ICP remains the sole, near-term, environmentally permitted primary cobalt deposit in the United States. "Our main priority is finalizing all environmental systems at site in preparation for underground mine development in early 2019," stated Paul Farquharson, President & Chief Executive Officer of eCobalt. "This includes getting the Water Treatment Plant in place, the liner installed on the Tailings Waste Storage Facility and Water Management Ponds, and electrifying the pump back wells. These activities are part of the use of proceeds from the February 2018 public offering and are expected to be completed in the fourth quarter of this year. I am pleased to report that we are advancing on time and on budget as our team has been working expeditiously during the summer months."

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