Lithium Market Benefits From Demand for Clean Energy and EV Market Expansion

NEW YORK, May 23, 2018 /PRNewswire/ --

According to report published by Variant Market Research, the Global Lithium-Ion Battery market is projected to reach $56 billion by 2024, while growing at a CAGR of 10.6 percent. Rechargeable lithium batteries are able to deliver high energy as well as high power density. These characteristics made them favorable for many rechargeable electronic consumer products. The increasing adoption of smartphones, laptops, tablets and other mobile electronics has caused the market to grow significantly. The electronics segment holds the largest portion of the market, but it is the electric vehicles (EVs) industry that is expected to grow at the fastest rate over the next coming years. Cameo Resources Corp. (OTC: CRUUF), Glencore Plc (OTC: GLCNF), US Cobalt Inc. (OTC: USCFF), Lundin Mining Corporation (OTC: LUNMF), Advantage Lithium Corp. (OTC: AVLIF)

EVs are expected to see significant market growth, pushing the lithium-ion battery market with it. Various international government officials are pushing for more environmentally efficient vehicles, such as in China and the U.S. The European Union has already pushed a proposal to decrease diesel emission vehicles by as much as 30 percent by 2030, which has encouraged numerous automotive producers to advance EVs at a more rapid rate. "There's a component of trying to facilitate the development of a powerful car-manufacturing industry of electric vehicles," Miguel Arias Canete, EU climate and energy commissioner, said in an interview Tuesday in his Brussels office. "There will be a race for developing clean-energy vehicles. We are seeing that others are taking the global lead."

Cameo Resources Corp. (OTC: CRUUF) also listed on the TSX Venture Exchange under the ticker (TSX-V: CRU). Just this morning the company announced breaking news that, "announce that pursuant to a resolution passed by the directors on May 3, 2018, the Company's common shares will be split on a (1) one old for (3) three new basis. The Company is also pleased to report it has also changed its name to Cameo Cobalt Corp. Cameo's name change reflects the Company's new strategic focus on energy-metals exploration.

Effective at the opening on Friday, May 25, 2018, the common shares of Cameo Cobalt Corp. will commence trading on a split basis on TSX Venture Exchange. Common shareholders of record at the close of business on May 28, 2018 will be mailed additional certificates. The new certificates will be mailed on or about May 31, 2018.  The push-out method will be used to effect the split.

Outstanding stock options and share purchase warrants will also be adjusted by the forward split ratio, and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly. Shareholders of the Company, with or without a physical share certificate, do not need to take any action with respect to the forward split. The Company's transfer agent will send registered owners of common shares a share certificate or DRS advice which will represent the additional number of common shares to be received as a result of the forward split. Post split Cameo will have 55,674,156 shares issued and outstanding."

Glencore Plc (OTC: GLCNF) 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. On April 22, 2018, the company announced that Katanga Mining provides update on KCC recapitalisation process and notes commencement of DRC legal proceedings by Gécamines. Katanga (65%) is a large-scale copper-cobalt operation in the country's Katanga province, producing cobalt hydroxide and copper cathodes.

US Cobalt Inc. (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 April 25, 2018, the company announced results from the final four surface core holes drilled during 2017 at the Iron Creek project in Idaho, USA. Significant cobalt values drilled in steeply dipping sulfide mineralization are tabulated below. All widths or thicknesses reported here are true thickness based on 3-D modeling. The Company has completed nine drill holes during the ongoing 2018 drilling campaign, which is beginning from underground. The first shipment of core samples has been delivered to the laboratory for analysis, and results will be reported as received.  The objective of the initial 2018 drilling is to extend known mineralization westward beyond the limits of the 2017 drilling.

Lundin Mining Corporation (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. During 2013, Lundin Mining acquired, through a newly formed joint venture entity with Freeport, a large scale cobalt chemical refinery located in Kokkola, Finland and the related sales and marketing business. The acquisition provided direct end-market access for the cobalt hydroxide production from the Tenke Fungurume mine among other advantages. The refinery, located on the Baltic Sea in Finland, 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.

Advantage Lithium Corp. (OTCQX: AVLIF) is focused on developing its 75% owned Cauchari lithium project, located in Jujuy, Argentina. Earlier this month, the company announced that is has engaged WorleyParsons Chile S.A. (WP) to complete a Preliminary Economic Assessment (PEA) on its flagship Cauchari Project in Jujuy, Argentina based on phase II results with an expected increase to its resource base which will be released this month. The PEA scope includes a standalone plant in the range 15 -20 Ktpa final lithium product and is scheduled for completion in July 2018. In addition, to move rapidly to an extraction resource and advance through to Definitive Feasibility Study (DFS) completion, Advantage Lithium also announced it has contracted an internationally recognised drilling company with experience in deep drilling in the Puna region and has initiated its 2000m Phase III drill program.

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