Canada Silver Cobalt Launches Pilot Plant

Gravity concentrates will be shipped from the Castle mine site to SGS Lakefield in Peterborough, Ontario, for conversion into a Cobalt sulphate product.

Canada Cobalt Works Inc. (TSX-V: CCW) (OTCPK: TAKRF) (Frankfurt: 4T9B) (the “Company” or “Canada Cobalt”) is pleased to provide a corporate and exploration/development update as the Company accelerates its activities in the prolific Northern Ontario Cobalt Camp.

Highlights

• Pilot plant assembly at the Castle mine is proceeding ahead of schedule with the jaw crusher, cone crusher and ball mill having been wired and commissioned. Mineralized material from the first level of the mine is now being crushed, while gravity and screen equipment is expected to be operational in the coming days;
• Underground drilling targeting high-grade cobalt continues (25 holes completed to date) and is being extended through the balance of 2018 - a consistent flow of results will commence this quarter;
• The company has closed a private placement with strategic investors in the amount of $1,449,054 at 65 cents per unit (further details below) and is well-positioned and financed to achieve key milestones in 2018.

Jacques Monette, Canada Cobalt director and mine supervisor, commented:

“Underground and pilot plant crews are doing an exceptional job. Shaft #3 has also been opened for a pump test as part of a study requirement related to permitting for a potential 600 tpd milling operation.”

Gravity concentrates will be shipped from the Castle mine site to SGS Lakefield in Peterborough, Ontario, for conversion into a Cobalt sulphate product through the company’s proprietary Re-2OX process. Canada Cobalt eagerly anticipates updating shareholders on Re-2OX during the first half of August.