Fuse Cobalt Corporate Update and President’s Letter to Shareholders
1220-789 West Pender St
Vancouver BC V6C 1H2
Phone : (236) 521-0207
FuseCobalt.com
Fuse Cobalt Corporate Update and President’s Letter to Shareholders
January 11, 2021: Vancouver, British Columbia – Fuse Cobalt Inc. (“the Company“ or “Fuse”)
(TSXV: FUSE, OTC: FUSEF FRA:43W3) would like to provide its shareholders with additional
information regarding the history and current status of the Company, as well as, its proposed
operating plan for 2021.
LETTER FROM THE PRESIDENT
TO OUR SHAREHOLDERS AND PARTNERS:
Since February 2020, the Company has accomplished quite a bit during a time of global uncertainty
caused by the COVID-19 global pandemic, including a company rebranding and financing. Now that
a vaccine is on the horizon, there has been a renewed interest on clean tech solutions, including
purchasing of electric vehicles. Tesla Inc. (NASDAQ: TSLA) continues to be one of the most valuable
car companies by a long-shot and is on the list of some of the most valuable public companies
worldwide.
We are now planning our 2021 Canadian exploration programs in Cobalt Ontario, and plan to further
enhance and move our mineral exploration properties forward. The Company’s exploration team is
in the process of reviewing our past exploration work, to provide a realistic exploration plan for 2021.
Mr. Setter further comments “Recall that not that long 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 M at Teledyne Cobalt Property (News Release Jan 18, 2018), and Intersections of 8.42%
Cobalt Over 0.30 Metres on the Glencore Bucke Property (News Release Jan 17, 2018). These
are spectacular results. These results along with other high-grade cobalt drill results found during
past exploration programs, are the reason why we are excited to continue to work on our properties.”
In addition to adding working capital and re-claiming 100% of our Canadian cobalt assets over the
past year, Fuse has added several experienced people to our team which will allow the Company
to drive results on these two properties. “We look to add to both our management team and board
over the remainder of calendar 2021, and stay tuned for these announcements” comments Mr. Setter.
Furthermore Mr. Setter states “Long-term, the Company believes in the market for cobalt and we will
continue to explore and develop our mineral exploration properties in Ontario. They are great and
important Company assets largely because of the emergence of the overall Electric Vehicle market
and the need for new global sources of cobalt. For example, a Tesla Model S needs 51 lbs of cobalt
for its battery and cobalt is an essential component in a lithium ion rechargeable battery. Electric
Vehicles are expected to drive a large part of this increased future metal demand and are projected
to grow from a small number today to 140 million vehicles by the year 2035. Because of this
demand, our neighbour in Ontario is restarting North America’s only licensed cobalt refinery,
alongside an investment by mining and commodities trader giant Glencore (LON:GLEN) of $45
million (Glencore Investment News). We are excited that this refinery, once operational, will
provide a nearby facility to refine any and all cobalt from the region, especially since we have an
existing offtake agreement in place with Glencore on these properties. As you can see, the future for
cobalt is certainly bright and Fuse management is extremely positive on the future demand for this
metal.”
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These changes have positioned the Company for a bright future for our shareholders.
“We are very happy that our shareholders continue to support our company and our exploration
programs in Canada” comments Mr. Robert Setter, President & CEO of Fuse. “The funds that we have
received recently are earmarked for our various exploration programs in order to improve the value
of what we have underground and ultimately work towards getting these properties closer to
becoming producing cobalt properties. This will take a lot of hard work, but our team is up for the
challenge.”
Thank you for joining us on this journey, and we look forward to a great 2021.
Sincerely,
Robert Setter
President & CEO
Qualified Person
Joerg Kleinboeck, P.Geol., a qualified person within the context of National Instrument 43-101, has
reviewed this news release and concludes it correctly reflects information as reported in the various
news releases and assessment reports from which it was derived and approves the scientific and
technical disclosure cited in the news release.
About Glencore plc. https://www.glencore.com
Glencore plc ( LSE:GLEN) is a leading integrated commodity producer and trader, operating
worldwide with diversified operations comprising around 150 mining and metallurgical, oil
production and agricultural assets. Glencore’s industrial and marketing activities are supported by a
global network of more than 90 offices located in over 50 countries where they employ around
155,000 people, including contractors. Glencore trades in and distribute physical commodities
sourced from third party producers as well as their own production. The company also provide
financing, processing, storage, logistics and other 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’s transition to sustainable energy. Since
our founding in 2003, Tesla has broken new barriers in developing high-performance automobiles
that are not only the world’s best and highest-selling pure electric vehicles—with long range and
absolutely no tailpipe emissions—but also the safest, highest-rated cars on the road in the world.
Beyond the flagship Model S sedan and the falcon-winged door Model X sports utility vehicle, we also
offer a smaller, simpler and more affordable mid-sized sedan, Model 3, which we expect will truly
propel electric vehicles into the mainstream.
In addition, with the opening of the Gigafactory and the acquisition of SolarCity, Tesla now offers a
full suite of energy products that incorporates solar, storage, and grid services. As the world’s only
fully integrated sustainable energy company, Tesla is at the vanguard of the world’s inevitable shift
towards a sustainable energy platform.
About Fuse Cobalt Inc. www.fusecobalt.com
Fuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the
TSX Venture Exchange. The Company’s focus is on exploration for high value metals required for the
manufacturing of batteries.
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Ontario Cobalt Properties: Fuse owns a 100% interest its Glencore Bucke Property, situated in
Bucke Township, 6 km east-northeast of Cobalt, Ontario, subject to a back-in provision, production
royalty and off-take agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along
the west boundary of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest,
subject to a royalty, in the Teledyne Project which consists of 785 hectares of land and is also located
near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that
hosted the Agaunico Mine, a former producer of both silver and cobalt.
Nevada Lithium Property: Fuse owns a 100% interest in 100 placer claims covering 2000 acres
(809 hectares) at Teels Marsh, Nevada. The property, called Teels Marsh West is highly prospective
for Lithium brines and is located approximately 48 miles northwest of Clayton Valley and the
Rockwood Lithium Mine. Rockwood is North America’s only producing brine-based Lithium mine
supporting lithium production 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 nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release
may contain forward-looking statements which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of historical
facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary materially from
forward-looking statements.