Cruz Cobalt to Acquire Three Diamond Projects and a Cobalt Project
Cruz Cobalt Corp.
Suite 1470 – 701 West Georgia Street
Vancouver, BC V7Y 1C6
Cruz Cobalt to Acquire Three Diamond Projects and a Cobalt Project
September 4 , 2020 – Cruz Cobalt Corp. (CSE: CRUZ) (OTC Pink: BKTPF) (FSE:
A2DMG8) (“Cruz” or the “ Company”) is pleased to announce it has entered into a share
purchase agreement (the “Agreement”) to acquire assets consisting of one cobalt project and three
separate diamond projects. The cobalt project is located within the Idaho Cobalt Belt surrounding
Jervois Mining Ltd. (JRV–TSX.v). The diamond projects are all located within the Golden Mining
Division of British Columbia. Cruz will now hold twelve separate projects in North America.
Management cautions that past results or discoveries on properties in proximity to Cruz may not
necessarily be indicative to the presence of mineralization on the Company’s properties.
Jim Nelson, President of Cruz states, “We are excited at the prospect of acquiring a highly -
prospective cobalt project in the p rolific Idaho Cobalt Belt which surrounds Jervois Mining Ltd.
(JRV–TSX.v). We are also pleased that this prospective acquisition holds three diamond projects
in BC that have seen historic diamond exploration. Diamond exploration has seen a recent
resurgence and not only do we have these new BC diamond assets previously owned by Dia
Met, but the area of where our property is located in the C obalt region of Ontario , has recently
experienced a boom in d iamond exploration. There has been a large amount of work d one
right around Cruz's properties this year and recently RJK Exploration s Ltd. made a diamond
discovery in the vicinity of our property (announced on April, 1, 2020) . To date, w e have only
evaluated our significant portfolio of Ontario projects for cobalt , however, going forward we
intend to evaluate these projects for diamond and silver potential. Cruz still has approximate ly
$1.7 million in the treasury, enabling Cruz to be nimble at a time when the junior market sentiment
has turned positive. Cruz has been silently waiting for the right time to recommence corporate
activities and management feels the time is now. The remainder of 2020 will be very active for
Cruz."
Cruz entered into an arms length Agreement with 1205011 B.C. Ltd. (“ 1205011”) to acquire all
the issued and outstanding share capital of 1205011. Pursuant to the terms of the Agreement, the
Company has agreed to issue nine million common shares of the Company (each, a “ Share”) at a
deemed price of $0.05 per Share . This share issuance will not result in a change of control.
1205011, through its wholly -owned subsidiary, owns a 100 per cent undivided, unencumbered
legal and beneficial interest in 2,211-acre ‘Idaho Cobalt Belt Project’. 1205011 also directly holds
the 2,552 -acre Larry diamond project, the 5,572 -acre Jax diamond project, and the 1,529 -acre
Mark diamond project, located in British Columbia and Idaho.
Mr. Greg Thomson, P.Geo., a director of Cruz and a Qualified Person as defined by National
Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained
within this news release. Cruz has not performed sufficient work to verify historic assay values
reported above, but Cruz believes this information is considered reliable and relevant.
About Cruz Cobalt
Cruz currently has twelve projects located throughout North America, com prising of five in
Ontario, four in British Columbia, two in Idaho, and one in Nevada. Cruz’s five separate Ontario
prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest
landholders in this district. Cruz’s Ont ario projects, which are prospective for Cobalt, diamonds
and silver include the 2,323-acre Coleman cobalt prospect, the 1,235-acre Johnson cobalt prospect,
the 6,227-acre Hector cobalt prospect, the 2,767 -acre Bucke cobalt prospect and the 1,532-acre
Lorraine cobalt prospect. The company’s BC prospects include the 1,542 -acre War Eagle cobalt
prospect, the 2,552-acre Larry diamond project, the 5,572-acre Jax diamond project, and the 1,529-
acre Mark diamond project . Cruz’s USA projects include the 2,211 -acre ‘Idaho Cobalt Belt
Project’, the and the 80 -acre ‘Idaho Star Cobalt Prospect’, and the 24 0-acre ‘Clayton Valley
Lithium Prospect’ in Nevada. Management cautions that past results or discoveries on properties
in proximity to Cruz may not necessarily be indicative to the presence of mineralization on the
Company’s properties.
If you would like t o be added to Cruz's news distribution list, please send your email address to
ON BEHALF OF THE BOARD OF DIRECTORS OF
Cruz Cobalt Corp.
“James Nelson”
James Nelson
President, Chief Executive Officer, Secretary and Director
For more information regarding this news release, please contact:
James Nelson, CEO and Director
T: 604-899-9150
Toll free: 1-855-599-9150
W: www.cruzcobaltcorp.com
Twitter: @CruzCobalt
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute “forward -looking information” as
such term is used in applicable Canadian securities laws. Forward -looking information is based
on plans, expectations and estimates of management at the date the information is pro vided and
is subject to certain factors and assumptions, including, but are not limited to, general business
and economic uncertaint ies. Forward -looking information is subject to a variety of risks and
uncertainties and other factors that could cause plans , estimates and actual results to vary
materially from those projected in such forward-looking information. Factors that could cause the
forward-looking information in this news release to change or to be inaccurate include, but are
not limited to, the ris k that any of the assumptions referred to prove not to be valid or reliable,
which could result in delays, or cessation in planned work, that the Company’s financial condition
and development plans change, delays in regulatory approval, risks associated wi th the
interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that
results will not be consistent with the Company’s expectations, as well as the other risks and
uncertainties applicable to mineral exploration and development activities and to the Company as
set forth in the Company’s Management’s Discussion and Analysis reports filed under the
Company’s profile at www.sedar.com. There can be no assurance that any forward -looking
information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, the reader should not place any undue
reliance on forward-looking information or statements. The Company undertakes no obligation to
update forward-looking information or statements, other than as required by applicable law.