SGS Produces 539 Ounces Per Ton Silver Flotation Concentrate From Canada Cobalt Castle Mine Tailings

COQUITLAM, May 24, 2019 -   Canada Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Cobalt") is pleased to announce that metallurgical testwork performed by SGS Lakefield has demonstrated that historic stamp mill tailings at Canada Cobalt's Castle mine are amenable to flotation and leaching, enhancing potential recoveries and creating an opportunity for a direct shipping precious metal concentrate in addition to a Re-2OX cobalt sulphate. 

Highlights:

• SGS has produced a high purity flotation silver concentrate grading 18,486 grams per tonne (539.17 ounces per ton);
• Optimization is expected to increase the 70% recovery rate;
• Ontario is "Open For Business": Through its engineering partner, Canada Cobalt is working closely and productively with the Ministry of Northern Development and Mines to quickly secure an amendment to the company's existing advanced exploration permit to allow the proposed tailings program to proceed (refer to March 1, 2019, news release).

Castle Tailings Amenable to Flotation

Through a flotation test, SGS has taken a gravity concentrate of a 120-kilogram sample from the Castle mine's historic tailings pond with a calculated head assay of 459 g/t silver and has created a high purity flotation concentrate grading 18,486 g/t with an initial recovery of 70%. 

Given these results, Canada Cobalt is immediately taking a much larger sample from the tailings for SGS to create another flotation concentrate including a cobalt concentrate.  The aim of the proposed tailings program is to produce a high purity direct shipping precious metal concentrate (silver and gold), while Canada Cobalt's proprietary Re-2OX Process would be used to convert a cobalt concentrate into a cobalt sulphate.  

Quality Assurance/Quality Control

Sample material was derived using flotation processes from the concentrate of a 120-kilogram sample from the Castle mine's historic tailings pond that was randomly collected in pails and subsequently transported by courier to SGS Laboratories, an accredited lab in Lakefield, Ontario.  These samples were submitted for fire assay for silver with atomic absorption finish. 

Qualified Person

The technical information in this news release was prepared under the supervision of Frank J. Basa, P. Eng., Canada Cobalt's President and Chief Executive Officer, who is a member of Professional Engineers Ontario and a qualified person in accordance with National Instrument 43-101.

About Canada Cobalt Works Inc.

Canada Cobalt is focused on immediate and longer-term value drivers at its past producing Castle mine and adjoining land package in the historic Northern Ontario Silver-Cobalt district, Canada's cobalt heartland since the start of the electric vehicle revolution. The Canada Cobalt "advantage" includes underground access at Castle, an innovative tailings program with a plan to recover silver, gold and cobalt, a recently installed pilot plant to produce gravity concentrates on site, a proprietary hydrometallurgical process known as Re-2OX, and exciting exploration discovery potential at Castle East.

"Frank J. Basa"
Frank J. Basa, P. Eng.
President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service 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 including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

SOURCE Canada Cobalt Works Inc.