PLANTATION, FL -- (Marketwired) -- 09/19/17 -- Atacama Resources International Inc. (OTCQB: ACRL) announced today that it has acquired the mineral rights for the Mystery Graphite Property which consists of 1740 acres located about 60 miles south of Timmins, Ontario. The acquisition of the mineral rights includes receiving core samples collected from multiple diamond drill sites previously conducted on the property. Analysis of the core samples is scheduled to take place.
Glenn Grant, CEO, reported, "The demand for mined graphite is beginning to explode. In today's world graphite is considered a critical and strategic mineral in the ever-accelerating emerging green economy (also known as the carbon Age) that includes advances in energy storage, electric vehicles, photovoltaics and electronics from smartphones to laptops. As the green economy grows, demand for graphite will quickly outstrip supply. Just considering electric vehicles, demand in three years will require more graphite than all the world's supply today.
"The development of the electric vehicle market alone is driving demand for graphite, which is expected to exceed $100 Billion within the next three years. For instance, Tesla's lithium ion battery giga-factory currently being constructed in Nevada will place large demand for lithium, graphite and cobalt. Twelve other giga-factories are currently being built worldwide and all will require large amounts of graphite. The demand for lithium is well understood but what is less known is that a lithium ion battery uses much more graphite that lithium."
Grant continued, "According to our research, there are NO producing graphite mines in the USA and the only producing mine in Canada is quickly exhausting its deposit. A supply squeeze is already happening as China currently mines 75% of the world's graphite. China's transformation from a manufacturing to a technology development economy will significantly increase its own demand from its graphite producers. In fact, it is rumored that China is currently stockpiling its graphite in anticipation of a global shortage."
Tesla CEO Elon Musk has reportedly stated that he wishes to source as much graphite as possible from North American and Canadian sources. There are many traditional demands for graphite as well. As the world urbanizes the use of steel remains in demand (up 4.5% in the first half of this year) and graphite is a critical metal in high quality steel.
"The public is just beginning to realize the importance of graphite as a critical/strategic mineral which is reflected in a price increase up 30% over just the past two months. Atacama is in the early stages of developing Mystery Graphite and other graphite properties with excellent mining infrastructure available. It is my goal as the CEO to bring increasing share value to Atacama and its shareholders. I look forward to bringing future announcements in the near future which I believe will be exciting as our shareholders learn all that is in play by our different divisions," Grant concluded.
About Atacama Resources International (www.acrlintl.com)
Atacama Resources International is a publicly traded OTC company with significant mining claims in the greater Kirkland Lake area of Northern Ontario. Metals and minerals under potential exploration include gold, silver, diamonds, graphite and cobalt. Major deposits of copper and iron ore are included in the mining claims. Atacama's technology business includes a pioneering smartphone application called Good2Drive and follow on products that will be released later in 2017 and 2018. It is highly recommended that everyone keep their eye on the website at www.acrlintl.com for updates.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Atacama Resources International. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.