Cobalt and Lithium Dramatic Demand Pushing Mining Efforts to New Levels

PALM BEACH, Florida, December 6, 2017 /PRNewswire/ --

Cobalt and Lithium supply constraints, coupled with a never-before-seen boom in the adoption rate of electric vehicles (EV) across the globe, have conspired to create an ideal market in which a pure-play cobalt investment and participation vehicle's profits can outpace its peers. Cobalt, a critical 'energy metal' used to make lithium-ion batteries, has become the backbone of the Cobalt/Lithium Revolution and has seen a 150% price hike over the last 12 months. Demand is expected to rise by a compounded annual growth rate (CAGR) of about 6.9% from 2016 to 2020, with cobalt demand in lithium-ion batteries expected to grow at 11.7% CAGR from 2016 to 2022, according to Cobalt 27 Capital chairperson, director and CEO, Anthony Milewski. Active miners today with current developments include: LiCo Energy Metals Inc. (OTC: WCTXF) (TSX-V: LIC), Quantum Cobalt Corp. (CSE: QBOT.CN), eCobalt Solutions Inc. (OTC: ECSIF) (TSX: ECS), Lithium X Energy Corp. (OTC: LIXXF) (TSX-V: LIX.V), Glencore plc (OTC: GLNCY) (LSE: GLEN).

LiCo Energy Metals Inc. (OTCQB: WCTXF) (TSX-V: LIC.V) is pleased to report assay results for diamond drill holes GB17-08 to GB17-10 from the recently completed drill program on the Glencore Bucke Property located 6 km northeast of Cobalt, Ontario. The Company would also like to provide an update on the recently completed drilling program and a brief analysis of what has been determined to date by the Company.

A summary of the most significant results of the recent drill core assays are:

• GB17-10 0.55% Co over 5.00 m from 28.00 to 33.00 m.

• GB17-10 0.11% Co, 17.6 ppm Ag, 0.53% Cu from over 2.30 m from 81.0 to 83.3 m

As reported on the Company's November 30th, 2017 news release, LiCo has recently completed its 2017 diamond drilling program on its Teledyne and Glencore Bucke Properties completing a total of 32 diamond drill holes, drilling 4,100 m of core. This exploration work satisfies both its flow-through financing obligations and the contractual obligations outlined in the recently acquired Glencore Bucke Propertyfrom Glencore plc of Baar Switzerland (LSE: GLEN). The overall drilling program has confirmed and extended the cobalt mineralization on each property and these results are consistent with historical grades and widths in the overall Cobalt Camp. As reported previously, visual cobalt camp style mineralization has been noted in every drill hole that the Company has logged to date. Read this and more news for LiCo Energy at: http://www.marketnewsupdates.com/news/wctxf.html  

On the Glencore Bucke Property, the Company has completed a total of 21 diamond drill holes totaling 1,900 m, testing the Main and Northwest zones. Additional base metal mineralization within and proximal to the cobalt mineralization has also been intersected throughout the drill program. On the Company's adjoining Teledyne Property, a total of 2,200 m has been completed in 11 diamond drill holes and the drill program is now complete. The analytical results for the Teledyne program have started to be received and reported by the Company.

Tim Fernback, President & CEO of LiCo states that, "We have been extremely pleased with our results to date and the exceptional work of our drilling team in Ontario. In this industry, it is very rare to design an exploration program and to find exactly what you are looking for at depth. So far, the results we are getting back from the assay lab are confirming the historic drill results and fit the model that we are predicting to be at depth. We are excited about getting the remaining results back from the lab, and to design our follow-up exploration program for 2018. With any luck, we will be closer to realizing our corporate goal of putting this property into production with a great JV partner like Glencore."

Additional base metal mineralization within and proximal to the cobalt mineralization has also been intersected throughout the drill program at the Glencore Bucke property, which LiCo finds encouraging as it has not been properly evaluated in the past for its full potential as accessory mineralization. "It is very encouraging that the Glencore Bucke Property has continued to provide good grades and width of cobalt mineralization based on the results that have been released to date" commented Dwayne Melrose, Director and Technical Advisor of LiCo. Mr. Melrose further explains, "Conceptually, having strong copper results could be significant to the overall economics of any potential mining operation. Copper is often associated with cobalt deposits globally. If you combine the additional value that copper mineralization may add to the value of the cobalt mineralization, it could increase the overall attractiveness of this group of properties which is important to both LiCo and any future strategic partner."The results for diamond drill holes GB17-08 and GB17-10 are summarized in a table that can be seen at:  http://www.marketnewsupdates.com/news/wctxf.html

In other mining industry news and developments:

Quantum Cobalt Corp. (CSE: QBOT.CN) (CNQ: QBOT.CN) News: Further to the news release of Nov. 8, 2017, Quantum Cobalt Corp. has closed its previously announced acquisition of 1142674 B.C. Ltd. (the target) pursuant to a share exchange agreement, dated Nov. 29, 2017, among Quantum, the target and the shareholders of the target. The Nipissing Lorrain cobalt project is located 26 kilometres southeast of Cobalt, Ont. The property consists of two separate claims and is adjacent to First Cobalt's Silver Centre claims. Six separate underground workings have been historically mined for cobalt, silver and nickel.  Pursuant to the share exchange agreement, Quantum will pay an aggregate amount of $1-million over a six-month period from date of close of the share exchange agreement, with an initial cash payment of $500,000 due on closing and $250,000 subsequently every three months. A total of five million common shares in the capital of the company will also be issued on closing to the shareholders of the target in exchange for one Class A common share in the capital of the target.

eCobalt Solutions Inc. (OTC: ECSIF) (TSX: ECS.TO) has recently communicated the progress to date on the Idaho cobalt project's (ICP) construction, cobalt marketing and project optimization.  The ICP, located in east-central Idaho, is the only environmentally permitted, primary cobalt project located in the United States. It is 100 per cent owned by the company's wholly owned subsidiary, Formation Capital Corp. U.S. Last week, the company SEDAR filed its recently completed feasibility study (FS) technical report in accordance with National Instrument 43-101 (see company news release dated Nov. 10, 2017). The FS was prepared by Micon International (MI) in conjunction with SNC-Lavalin, both of Toronto, Canada. The FS outlines the production and processing feasibility of the ICP as an underground mine and mill, developing the company's Ram deposit and the cobalt production facility (CPF), a hydrometallurgical refining operation located on a railhead in Blackfoot, Idaho. The FS recommends the ICP progress through detailed engineering, procurement and construction phases with consideration of several opportunities to improve the economics of the project.

Lithium X Energy Corp. (OTC: LIXXF) (TSX-V: LIX.V) (CDNX: LIX) announced in November it has closed its previously announced agreements with Borax Argentina SA and South American Salars SA and their parent company, Orocobre Ltd., collectively (refer to news release of Oct. 4, 2017).  The Orocobre agreements involved the acquisition of 2,700 hectares of claims from Borax Argentina SA 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 SA for a total consideration of 650,000 common shares of Lithium X, $1-million (U.S.) and a 1-per-cent net revenue royalty over the SDLA project. The Lithium X shares are subject to a 4-month hold period expiring on March 8, 2018, under applicable securities laws.

In an recent article published on Reuters, Glencore Plc (OTC: GLNCY) (LSE: GLEN.L) has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards.  The Anglo-Swiss company's output of cobalt and copper roughly doubled in the five years to 2016, while its production of nickel quadrupled, the research compiled for Reuters by S&P Global Market Intelligence shows.  Read the full article at https://finance.yahoo.com/news/electric-charge-glencore-bets-big-145802311.html

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