ePower Metals Inc. comments on USGS report which designates Cobalt as a Critical Element and the President’s subsequent Executive Order to expedited development of Cobalt Projects in the United States of America.
January 29, 2018
Vancouver, British Columbia, January 29, 2018 - ePower Metals Inc. (the Company or ePower) (TSX.V:EPWR) commented today on the release of the US Geological Surveys report on the Critical Mineral Resources of the United States (the Report) and President Trumps order to develop a federal critical minerals strategy. The Report lists 23 metals and minerals that are critical to the national economy and national security of the United States. Cobalt is one of the 23 materials listed and the focus of ePowers Panther Creek Project in the Idaho Cobalt Belt.
The USGS report is the first comprehensive update on US mineral resource requirements and supply since the 1973 Oil Crisis. The report indicates that there is no material Cobalt production in the United States of America and it is a critical element for the economy and national security.
Amongst other things, the Presidents Order states in Section 3(d) that the department of the interior is to begin "streamlining leasing and permitting processes to expedite exploration, production, processing, reprocessing, recycling, and domestic refining of critical minerals."
Secretary Ryan K. Zinke, of the Department of the Interior, which oversees the USGS, stated: "I commend the team of scientists at USGS for the extensive work put into the report, but the findings are shocking. The fact that previous administrations allowed the United States to become reliant on foreign nations, including our competitors and adversaries, for minerals that are so strategically important to our security and economy is deeply troubling. As both a former military commander and geologist, I know the very real national security risk of relying on foreign nations for what the military needs to keep our soldiers and our homeland safe."
Michael Collins, President & CEO stated The findings of the USGS that Cobalt is a Critical Metal for the Unites States of America come as no surprise to us at ePower Metals. The big change is that the executive office of the President and the Secretary of the Interior have both gotten behind this new effort to secure US based cobalt supplies. We expect that this will result in more resources being applied to expedite the processing of exploration and development permits in the Idaho Cobalt Belt and more specifically at our Panther Creek Project.
The Panther Creek Cobalt Project adjoins eCobalt Solutions Incs Idaho Cobalt Project, the only advanced stage, near term, environmentally permitted, primary cobalt project in the United States. and the historic Blackbird cobalt / copper mine in Lemhi County, Idaho. The property consists of 153 lode mining claims which total approximately 3,060 acres and the 40 acre Long Dyke mining lease. In 1998 the USGS reported a channel sample at Long Dyke across a 10 foot thick layer of quartzite showed 1.04% cobalt and 4.14% copper.
Brian Brewer of Brewer Exploration and Geological Services, Inc. is Certified Professional Geologist and a Qualified Person for the Panther Creek Project as defined by NI 43-101.
The USGS report can be found at: https://pubs.er.usgs.gov/publication/pp1802
President Trumps Executive order can be found at: https://www.whitehouse.gov/presidential-actions/presidential-executive-order-federal-strategy-ensure-secure-reliable-supplies-critical-minerals/
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
For further information, please contact:
ePower Metals Inc.
501 - 525 Seymour Street, Vancouver BC, V6B 3H7
Telephone: (604) 764-7094
Facsimile: (604) 568-7608
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