CBLT Receives Financial and Field Support from Ontario
CBLT Receives Financial and Field Support from Ontario
Burlington, Ontario--(Newsfile Corp. - August 24, 2017) - CBLT Inc. (TSXV: CBLT) ("CBLT) is pleased to report on the ongoing
contributions it is receiving from the Ontario government in its exploration activities.
First, CBLT has received funding on its previously approved grant under the Junior Explorer Assistance Program ("JEAP").
JEAP is managed by the Ontario Prospector Association and funded by the Northern Ontario Heritage Fund Corporation
("NOHFC") (
http://nohfc.ca/en
). Through this and other programs, NOHFC has helped thousands of mining and non-mining
projects grow in the North. JEAP targetted deserving junior exploration companies who could augment the Northern Ontario
economy.
The JEAP grant was directed towards exploration at CBLT's main Sudbury cobalt/gold property in 2016. The results of that
program included strong diamond drill assay results announced in December, 2016 and January, 2017, showing continuity of
gold and cobalt throughout the vein system tested (
press releases of Dec 14/16 and Jan 11/17
). CBLT is following up that work
with a summer, 2017 program that is now underway.
Second, the province of Ontario is supporting CBLT through the office of the Kirkland Lake District Geologist, who is carrying out
exploration activities at its own expense at CBLT's Otto Lake asset (
http://cbltinc.com/otto-lake.html
). CBLT is not directing this
activity but does have some input as to its methodology. The DG office has advised that such work will include 'boots and
hammers' prospecting, road access, line cutting, sampling, a geophysic survey of a nature to be determined, and mapping. All
results will be provided to CBLT for its own use throughout the fall of 2017.
"The JEAP grant and the work by the District Geologist are only two examples of the ongoing support from the Ontario
government to Canada's mining industry," said Peter M. Clausi, CBLT's CEO. "Absent a compelling new opportunity, we intend
to continue to concentrate our efforts in this supportive jurisdiction, to help build an ethical supply chain for cobalt. The recent
announcement concerning funding for the Ring of Fire only buttresses our confidence in Ontario as one of the world's premier
mining jurisdictions."
Forward Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to the Company and
its management.
Forward-looking statements are not historical facts but represent management's current expectation of
future events, and can be identified by words such
as
"believe", "expects", "will", "intends", "plans", "projects", "anticipates",
"estimates", "continues" and similar expressions.
Although management believes that the expectations represented in such
forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could
cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If
and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or
assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the
Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to
forward-looking statements may be influenced by many factors, including, but not limited to: reliance on key personnel; risks
of future legal proceedings; income tax matters; availability and terms of financing; distribution of securities; effect of market
interest rates on price of securities, and potential dilution.
About CBLT Inc.
CBLT Inc. is a Canadian mineral exploration company with a proven leadership team, looking to build an ethical supply chain for
cobalt in reliable mining jurisdictions. CBLT is well-poised to deliver real value to its shareholders.
On Behalf of the Board of Directors
CBLT INC.
"Peter M. Clausi"
Peter M. Clausi
CEO and Director
For Further Information:
Peter M. Clausi
1 905-681-1925 x2
1 416-890-1232
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.