Bankers Announces Share Consolidation and Late Filing of Its Annual Financial Statements Due to COVID-19 Pandemic

Vancouver, British Columbia - (April 24, 2020) – Bankers Cobalt Corp. (TSXV: BANC; FSE: BC2; OTCQB: NDENF) (the “Corporation” or “Bankers”) announced today it plans to consolidate all of its issued and outstanding common shares (each, a “Common Share”, the “Common Shares”) on the basis of ten (10) existing Common Shares for one (1) new Common Share (the “Consolidation”). The Corporation further announces that due to logistics and delays caused by the unprecedented outbreak of coronavirus (COVID-19), the Corporation will not be filing its annual financial statements, management’s discussion and analysis and related certifications for its financial year ended December 31, 2019, on or before April 29, 2020, being the date that such filings are due.

Share Consolidation

Upon completion of the Consolidation, the Corporation is expected to have 11,587,466 issued and outstanding Common Shares. No fractional shares will be issued as a result of the Consolidation and all fractional interests will be rounded down to the nearest whole number of Common Shares. Each shareholder’s percentage of ownership in the Corporation and proportional voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares.

Management of the Corporation believes that the proposed Consolidation will position the Corporation to gain greater exposure to investors that are not willing to trade equity stocks below a certain threshold and will increase its liquidity.

The Corporation does not intend to change its name or its current trading symbol in connect with the proposed Consolidation. The Consolidation is subject to all necessary regulatory approvals. Bankers will confirm the effective date of the Consolidation and other pertinent details, including the new CUSIP and ISIN as a result of the Consolidation, in a subsequent news release.

Late Filing of Annual Financial Statements due to COVID-19 pandemic

The Corporation will be relying on Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”), enacted by the British Columbia Securities Commission (“BCSC”), providing relief consisting of a 45-day extension for certain regulatory filings required to be made on or prior to June 1, 2020 as a result of the COVID-19 pandemic.

Bankers will be relying on the temporary exemption pursuant to BCI 51-515 with respect to the following:

• the requirement to file audited financial statements for the financial year ended December 31,

2019 ("Financial Statements") within 120 days of the Corporation's financial year end as required by section 4.2(b) of National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”);

• the requirement to file management’s discussion and analysis for the financial year ended

December 31, 2019 ("MD&A") within 120 days of the Corporation's financial year end as required by section 5.1(2) of NI 51-102; and

• the requirement to file certifications of annual filings (together with the Financial Statements and

MD&A, the “Annual Filings”) pursuant to section 4.1 of National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings and Section 4.2(b) of NI 51-102.

The Corporation’s management and other insiders are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions until the Annual Filings have been completed. The Corporation continues to work diligently with its auditors and plans to complete the Annual Filings on or before June 15, 2020.

The Corporation confirms that there have been no material business developments since the date of filing of its interim financial statements for the period ended September 30, 2019, other than those disclosed in this news release.

About Bankers

Bankers is a natural resource company with a primary focus on the acquisition, exploration, development and operation of cobalt and copper mineral projects in the DRC. Bankers holds rights to nine mineral projects strategically located in the southern DRC CopperBelt. Bankers has the intention to acquire interests in additional concessions or relinquish concessions in the normal course of business. Bankers has an experienced management team in the southern CopperBelt of the DRC.

ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.

“Stephen Barley”

Chairman & CEO

For further information:

Phone: (604-834-2968)

Email: [email protected] Website: www.bankerscobalt.com

Reader Advisory

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking information” within the meaning of applicable securities laws including, without limitation, statements relating to the timing and completion of the Consolidation and Annual Filings and other factors beyond the Corporations’ control. Although the Corporation believes considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them as the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation its securities, or its financial or operating results.