Lithium Market Projected Grow With Demand for Electric Vehicles

NEW YORK, November 28, 2017 /PRNewswire/ --

According to a report by Zion Market Research, the global lithium-ion (Li-ion) battery market was valued at around USD 31.17 billion in 2016 and is expected to generate revenue of USD 67.70 billion by end of 2022 and growing at a CAGR of slightly above 13.70% over the forecast period. Li-ion batteries are broadly used as a power supply for consumer electronics as well as hybrid and electric vehicles (EVs). The increasing demand for electric vehicles is expected to push demand for li-ion batteries to new highs. Bearing Resources Ltd. (OTC: BRGRF), Lithium X Energy Corp. (OTC: LIXXF), Advantage Lithium Corp. (OTC: AVLIF), Millennial Lithium Corp. (OTC: MLNLF), Lithium Americas Corp. (OTC: LACDD)

Mahitha Mallishetty, a lead metals and minerals research analyst at Technavio, explained, "The range of EVs can be improved, and the fuel consumption of hybrid EVs can be reduced using lithium-ion batteries. The diverse types of rechargeable batteries, distinguished by the materials used for the electrodes and electrolytes, have a short-range due to lower energy density and have a short operational life when compared with that of lithium-ion batteries. Growth in vehicle fleet leads to a proportionately faster change in the acceptance of EVs, thereby providing growth prospects for the global lithium market."

Bearing Resources Ltd. (OTCQB: BRGRF) is also listed on the TSX Venture Exchange under the ticker symbol 'BRZ'. Just announced breaking news earlier today that, "it has settled its outstanding current financial liabilities. Specifically, the outstanding US$1.1 million loan from Minera Salar Blanco SpA , its joint venture partner, to Li3 Energy, Inc .was repaid on November 22^nd, 2017. Following this payment, Bearing has no material outstanding financial liabilities, other than short-term payables as part of ongoing operations, and approximately C$2.0 million in cash.

Jeremy Poirier, President and CEO, commented: "Since the merger with Li3, Bearing has focused on the project development of its flagship Maricunga project. However, in terms of liabilities inherited from the merger, the outstanding debt with our Chilean partner MSB was a key component of our balance sheet. The early repayment of this debt to our partners reflects our confidence in the Maricunga project and our continued effort to foster a healthy and long-term relationship with our partners in the project. 

About Bearing Lithium Corp. - Bearing Lithium Corp. is a mineral exploration and development company, primarily focused on lithium. Its primary asset is a free-carried 17.7% interest in the Maricunga lithium brine project in Chile. The Maricunga project represents one of the highest-grade lithium brine salars globally and the only pre-production project in Chile. Over US$30 million has been invested in the project to date and all expenditures through 2018, including the delivery of a Definitive Feasibility Study in mid-2018, are fully-funded by their earn-in joint-venture partner. Bearing also holds a portfolio of grass-roots exploration projects in the gold district of the Yukon, which are currently optioned to Golden Predator, and a lithium project in Nevada, which is currently optioned to First Division Ventures Inc."

Lithium X Energy Corp. (OTCQX: LIXXF) is a lithium exploration and development company with a goal of becoming a low-cost supplier for the burgeoning lithium battery industry. On November 8, 2017, the company announced that it has closed its previously announced agreements with Borax Argentina S.A. and South American Salars S.A. and their parent company, Orocobre Limited ("Orocobre"), collectively. The Orocobre Agreements involved the acquisition of 2,700 hectares of claims from Borax Argentina S.A. replacing the usufruct Lithium rights previously held by the Company over the Borax claims and an agreement to acquire a further 700 hectares currently owned by South American Salars S.A. for a total consideration of 650,000 common shares of Lithium X, USD $1,000,000 and a 1% Net Revenue Royalty over the SDLA project.  

Advantage Lithium Corp. (OTCQX: AVLIF) is a resource company specializing in the strategic acquisition, exploration and development of lithium properties. On November 8, 2017, the company announced that it and its exploration partner Nevada Sunrise Gold Corporation (together, the "Vendors") have signed an asset purchase agreement to effect the sale of the Clayton Northeast Project to Pure Energy Minerals Limited of Vancouver, B.C., Canada. Clayton NE is located adjacent to the Silver Peak lithium brine mine in Esmeralda County, Nevada, the only producing lithium mine in North America.

Millennial Lithium Corp. (OTCQB: MLNLF) is an emerging exploration and development company focused on world class lithium assets in Argentina. Recently, the company reported a maiden lithium and potassium resource statement for its Pastos Grandes brine project in the Salta province of Argentina. The NI 43-101 resource statement, detailed in Table 1 below, includes 2,131,000 tonnes of lithium carbonate equivalent and 8,141,000 tonnes of potash equivalent in the Measured and Indicated Resource categories, with an additional 878,000 tonnes of Li2CO3 and 3,263,000 tonnes KCl in the Inferred Resource category.

Lithium Americas Corp. (OTCQX: LACDD), together with its joint venture partner, Sociedad Quimica y Minera de Chile S.A., is developing the Cauchari-Olaroz lithium project, located in Jujuy, Argentina, through its 50% interest in Minera Exar S.A. On October 23, 2017, the company provided an update on the Lithium Nevada Project located in Nevada, USA. The Company is developing the 100% owned Lithium Nevada Project, a clay-based lithium resource in the McDermitt Caldera, through its wholly owned subsidiary, Lithium Nevada Corp. Building on years of exploration and testing, a Preliminary Feasibility Study (the "PFS") on the Lithium Nevada Project is expected to be complete by the end of Q2 2018 to demonstrate the economic potential of producing lithium hydroxide from lithium-bearing claystone

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