SOURCE: Mammoth Energy Group, Inc.

April 06, 2010 14:30 ET

Mammoth Energy Group Announces Demand for Lithium Carbonate Doubled From 2003-2007

Credit Suisse Report States Lithium Market May Expand to 14 Times Size by 2030

NEW YORK, NY--(Marketwire - April 6, 2010) -  Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) announced today demand for lithium carbonate doubled from 2003 to 2007, and a report by Credit Suisse states that the market for lithium-ion batteries may expand to 14 times its 2009 size by 2030.

With growth in Asia increasing the long-term demand for oil, the quest for energy conservation has increasingly focused attention on lithium, the key resource needed for the manufacture of energy-efficient ion batteries powering hybrid cars.

"The demand for lithium and from investors is coming and coming strong," announced William Lieberman, President of Mammmoth Energy Group. "We see growth in the Chilean and Argentina markets beginning to pick up," he added.

Lithium is typically recovered from high-altitude desert areas, chiefly in the Andes Mountains, with roughly 80 percent of the world's known lithium reserves found in Argentina, Bolivia, or Chile. Alone, the salt flats of southwestern Bolivia contain more than half of the world's recoverable supplies, making it "the Saudi Arabia of lithium." But after two decades of piquing foreign interest in Bolivia's reserves, the country's natural resource policies, regional posture and poor infrastructure have caused investment in lithium recovery to increasingly favor Chile and Argentina.

Mr. Lieberman added, "We agree with the market outlook towards these countries and think that the comments made by Lucie Bednarova Duesterhoft of GM's Global Energy Systems, who said, 'Two countries -- Argentina and Chile -- could supply the whole world with cheap lithium past 2060,' are very accurate."

About Mammoth Energy Group, Inc. (PINKSHEETS: MMTE)

Mammoth Energy Group, Inc. is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world. With an ever changing shift to alternative energy and fuels Mammoth Energy Group will be prepared to be a leading energy supplier and operator. Mammoth Energy's goal is to become an important partner as the world's energy paradigm begins to change throughout the next decade and beyond.

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