International Cobalt Corp. Provides Update on Ramsay Cobalt Exploration Plans
ABOUT THE RAMSAY PROJECT
The 8,000-hectare Ramsay Cobalt Project is well situated on the edge of the prolific Bathurst mining camp (BMC) located in northern New Brunswick, approximately 25 kilometres west of the Caribou mine operated by Trevali Mining Corp. With paved road access and nearby electric power, the Project is close to well-developed infrastructure and is in a mining-friendly jurisdiction.
Map 1
To view an enhanced version of the Map 1, please visit:
http://orders.newsfilecorp.com/files/5958/35619_a1530622036185_2.jpg
ABOUT THE COBALT MARKET
Cobalt prices recently reached a 10 year high of $42.75 US per pound and have shown a steady increase since the mid-point of 2015. Cobalt is a vital component of many of the lithium-ion batteries used in a wide range of applications from cell phones to electric vehicles (EV) and the home energy storage market. Driven primarily by the EV market demand for cobalt is expected to remain strong and growing for the near future. Currently over 60% of the global supply of cobalt is sourced from mines operating in the Democratic Republic of the Congo (DRC). Political instability in the DRC coupled with social-economic issues surrounding mining in the country including reports of child labour have led many tech companies to seek supplies of the metal from more stable jurisdictions.
On behalf of: INTERNATIONAL COBALT CORP.
"Timothy Johnson"
Timothy Johnson, President
For more information on International Cobalt Corp. please contact:
Tyler Lowes, Corporate Development
tlowes@internationalcobalt.com
604-428-9480
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.