(TheNewswire)
January 11, 2021 - TheNewswire - Vancouver, British Columbia - Fuse Cobalt Inc. (“the Company“ or “Fuse”) (TSXV:FUSE ) ( OTC:FUSEF ) ( FRA:43W3) would liketo provide its shareholders with additional information regarding thehistory and current status of the Company, as well as, its proposedoperating plan for 2021.
LETTER FROM THEPRESIDENT
TO OUR SHAREHOLDERSAND PARTNERS:
Since February 2020, the Company has accomplished quitea bit during a time of global uncertainty caused by the COVID-19global pandemic, including a company rebranding and financing. Nowthat a vaccine is on the horizon, there has been a renewed interest onclean tech solutions, including purchasing of electric vehicles. Tesla Inc. ( NASDAQ:TSLA) continues to be one of the most valuablecar companies by a long-shot and is on the list of some of the mostvaluable public companies worldwide.
We are now planning our 2021 Canadian explorationprograms in Cobalt Ontario, and plan to further enhance and move ourmineral exploration properties forward. The Company’s explorationteam is in the process of reviewing our past exploration work, toprovide a realistic exploration plan for 2021.
Mr. Setter further comments “Recall that not thatlong ago, our past drilling results on our Ontario cobalt properties revealed Intersections of 21.9% Cobalt Over 0.36 M and 18.7% Cobalt Over 0.15 Mat Teledyne Cobalt Property ( News Release Jan 18,2018 ), and Intersections of8.42% Cobalt Over 0.30 Metres on the Glencore Bucke Property( News Release Jan 17,2018 ). These are spectacular results. These results along withother high-grade cobalt drill results found during past explorationprograms, are the reason why we are excited to continue to work on ourproperties .”
In addition to adding working capital and re-claiming100% of our Canadian cobalt assets over the past year, Fuse has added several experiencedpeople to our team which will allow the Companyto drive results on these two properties. “We look to add to bothour management team and board over the remainder of calendar 2021, andstay tuned for these announcements” comments Mr. Setter.
Furthermore Mr. Setter states “Long-term, the Companybelieves in the market for cobalt and we will continue to explore anddevelop our mineral exploration properties in Ontario. They aregreat and important Company assets largely because of the emergence ofthe overall Electric Vehicle market and the need for new globalsources of cobalt. For example, a Tesla Model S needs 51 lbs ofcobalt for its battery and cobalt is an essential component in alithium ion rechargeable battery. Electric Vehicles are expected todrive a large part of this increased future metal demand and areprojected to grow from a small number today to 140 million vehicles by the year2035. Because of thisdemand, our neighbour in Ontario is restarting North America’s onlylicensed cobalt refinery, alongside an investment by mining andcommodities trader giant Glencore (LON:GLEN) of $45 million (Glencore Investment News ). We are excited thatthis refinery, once operational, will provide a nearby facility torefine any and all cobalt from the region, especially since we have anexisting offtake agreement in place with Glencore on theseproperties. As you can see, the future forcobalt is certainly bright and Fuse management is extremely positiveon the future demand for this metal.”
These changes have positioned the Company for a brightfuture for our shareholders.
“We are very happy that our shareholders continueto support our company and our exploration programs in Canada”comments Mr. Robert Setter, President & CEO of Fuse. “Thefunds that we have received recently are earmarked for our variousexploration programs in order to improve the value of what we haveunderground and ultimately work towards getting these propertiescloser to becoming producing cobalt properties. This will take a lotof hard work, but our team is up for the challenge.”
Thank you for joining us on this journey, and we lookforward to a great 2021.
Sincerely,
Robert Setter
President & CEO
Qualified Person
Joerg Kleinboeck, P.Geol., a qualified person withinthe context of National Instrument 43-101, has reviewed this newsrelease and concludes it correctly reflects information as reported inthe various news releases and assessment reports from which it wasderived and approves the scientific and technical disclosure cited inthe news release.
About Glencore plc. https://www.glencore.com
Glencore plc ( LSE:GLEN ) is a leading integrated commodity producer andtrader, operating worldwide with diversified operations comprisingaround 150 mining and metallurgical, oil production and agriculturalassets. Glencore’s industrial and marketing activities are supportedby a global network of more than 90 offices located in over 50countries where they employ around 155,000 people, includingcontractors. Glencore trades in and distribute physical commoditiessourced from third party producers as well as their own production.The company also provide financing, processing, storage, logistics andother services to commodity producers and consumers.
About Tesla Inc. https://www.tesla.com/en_ca/models
Tesla’s ( NASDAQ: TLSA ) mission is to accelerate the world’stransition to sustainable energy. Since our founding in 2003, Teslahas broken new barriers in developing high-performance automobilesthat are not only the world’s best and highest-selling pure electricvehicles—with long range and absolutely no tailpipe emissions—butalso the safest, highest-rated cars on the road in the world. Beyondthe flagship Model S sedan and the falcon-winged door Model X sportsutility vehicle, we also offer a smaller, simpler and more affordablemid-sized sedan, Model 3, which we expect will truly propel electricvehicles into the mainstream.
In addition, with the opening of the Gigafactory and the acquisitionof SolarCity, Tesla now offers a full suite of energy products thatincorporates solar, storage, and grid services. As the world’s onlyfully integrated sustainable energy company, Tesla is at the vanguardof the world’s inevitable shift towards a sustainable energyplatform.
About Fuse Cobalt Inc. www.fusecobalt.com
Fuse Cobalt Inc. is a Canadian based explorationcompany that trades under the symbol FUSE on the TSX Venture Exchange.The Company’s focus is on exploration for high value metals requiredfor the manufacturing of batteries.
Ontario CobaltProperties: Fuse owns a 100% interest itsGlencore Bucke Property, situated in Bucke Township, 6 kmeast-northeast of Cobalt, Ontario, subject to a back-in provision,production royalty and off-take agreement. The Glencore Bucke Propertyconsists of 16.2 hectares and sits along the west boundary of Fuse’sTeledyne Cobalt Project. The Company also owns a 100% interest,subject to a royalty, in the Teledyne Project which consists of 785hectares of land and is also located near Cobalt, Ontario. TheTeledyne Property adjoins the south and west boundaries of claims thathosted the Agaunico Mine, a former producer of both silver andcobalt.
Nevada Lithium Property: Fuse owns a 100% interest in 100placer claims covering 2000 acres (809 hectares) at Teels Marsh,Nevada. The property, called Teels Marsh West is highly prospectivefor Lithium brines and is located approximately 48 miles northwest ofClayton Valley and the Rockwood Lithium Mine. Rockwood is NorthAmerica’s only producing brine-based Lithium mine supporting lithiumproduction since 1967. Access to Teels Marsh is via dirt road,west of Highway 95 and northwest of Highway 360.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President &CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements .
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