PRESS RELEASE: SGS Lakefield in Peterborough, Ontario, has used the environmentally green Re-2OX process to recover 99% of cobalt and 81% of nickel from a composite of gravity concentrates while also removing 99% of the arsenic, a long-time issue in this cobalt-rich district. Testing and optimisation continue.

The gravity concentrates graded 9.25% cobalt, 5.65% nickel, 9,250 g/t silver and 49.9% arsenic.

Additional stages of the Re-2OX process, overseen by Canada Cobalt adviser Dr Ron Molnar, are expected to produce favourable recoveries for precious metals (silver and gold) while also achieving a Chinese National Standard cobalt sulphate and/or cobalt hybrid formulations. Cobalt test products will be evaluated by potential battery sector clients who are in discussions with the company's marketing representative based in China.

Frank Basa, President and CEO, commented: "These Re-2OX results are exciting. Canada Cobalt now has 'proof of concept' for an environmentally green process that efficiently recovers cobalt and other metals while successfully removing the arsenic. This is a big step for our team.

"Combined with our underground access at the Castle mine and imminent drilling from the first level of this past producer, Canada Cobalt has distinct advantages in the Northern Ontario Cobalt Camp in the midst of the electric vehicle supercycle and the continuing uptrend in cobalt prices."

An 82kg sample of vein material that was recently taken from the first level of the Castle mine was crushed to -10 mesh and blended by SGS Laboratories in Lakefield, Ontario, from which a representative sample was submitted for analysis by lead fusion fire assay for silver and gold. Other metals were assayed by ICP after multi-acid digestion. The material was subsequently used for testing the proprietary Re-2OX process. Canada Cobalt Works relies on internal SGS laboratory independent QA/QC which allows the disclosure of the results provided.