Atacama Resources International, Inc. announced that the company has acquired mining rights to a 317 acre cobalt, silver, macro diamond, and gold property. Atacama has taken grab samples near the existing trenches, pits, and shallow shafts on the property and plans to do more extensive exploration in the near future. Initial assay results indicated trace amounts of gold and larger amounts of silver, diamonds and cobalt.

1.22% cobalt has been found near one of the shaft areas and the prospecting report recommends further backhoe stripping to uncover the original bedrock surface. Atacama is calling the 317 acre property of rich cobalt "Atacama Cobalt #1." Located in the largest cobalt region in the world, Atacama is also fortunate to be located near North America's only battery grade cobalt refinery. The proximity of this refinery in Temiskaming, Ontario to property could help provide a significant cost savings compared to global competitors.

This refinery is set to be completed by December 2022 into 2023 indicating a growing demand for rare metals like cobalt. Company has been looking at other claims in the area and look forward to further development of this property as it shows significant potential in a rapidly expanding global EV market. Originally, the rising demand for cobalt was due to its use in super alloys needed in nuclear reactors, jet and rocket engines, turbines, power plants and in various military and aerospace technologies.

While these are still active markets for cobalt, the emergence of electric vehicles has increased the demand for in more areas globally, company feel the demand for rare metals used in manufacturing high-power rechargeable batteries will continue to grow in large demand. Company feel positioning in multiple metal markets such as in Canada, the United States, and elsewhere will provide opportunities for Atacama to grow internationally.