Green Swan Adds 2,800 Hectares to Cobalt Portfolio IN Gowganda, Ontario
GSW: TSX-V
GREEN SWAN ADDS 2,800 HECTARES TO COBALT
PORTFOLIO IN GOWGANDA, ONTARIO
Burlington, ON. March 28, 2017. Green Swan Ca pital Corp. (TSXV:GSW)(“Green Swan”)
announces that it has entered into an agreement to acquire 2,800 hectares in five large unpatented
claim blocks located in the Gowganda region of north-eastern Ontario.
This region produced 60.1 million ounces of si lver and 1.4 million pounds of cobalt between
1910 and 1989, representing 11% of the total silver and 6% of the total cobalt endowment of the
Cobalt-Gowganda camp. This output came from te n separate mines, with the Miller-O’Brien
mine in Nicol Township being the largest (production of 38.0-million ounces silver and 0.8-
million pounds cobalt ( Ontario Geological Survey, Open File Report 6318 ). The claim blocks
being acquired do not cover areas of past production.
Gowganda is located 85 km northwest of the to wn of Cobalt and its world famous silver-cobalt
camp, and roughly 120 km north of Green Swan’s other cobalt assets in Sudbury, Ontario.
Infrastructure is readily available in the regi on in the form of Highways 560 and 65 as well as
several secondary roads.
Green Swan has been aggressively acquiring strong cobalt assets in ethical jurisdictions (Ontario
and Quebec), with a view to supplying the skyr ocketing demand in cobalt. Cobalt is a key
component in the cathode of those batteries, fo r cell phone, laptops, hand held tools and most
importantly electric vehicles . Cobalt pricing on the London Me tal Exchange has increased
roughly 250% since February, 2016, and management believes that the price will continue to
trend upwards for the foreseeable future.
The silver-cobalt deposits at Gowganda occur w ithin fracture-fill type carbonate veins that
include a wide variety of mine rals containing combinations of cobalt-iron-nickel, arsenic-
antimony-sulphur and minor amounts of chalc opyrite and galena. The veins occur within
Nipissing Gabbro sills that have intruded Archea n metavolcanic rocks which are unconformably
overlain by flat-lying meta-sedimentary rocks of the Coleman Member of the Gowganda
Formation. The veins tend to be vertical to sub-vertical, narrow and somewhat discontinuous, but
very high-grade.
The claim blocks being acquired were targeted to cover minera l occurrences documented in the
Ontario Mineral Deposits Inventory databa se and prospective Nipissing Gabbro sills.
Management is of the opinion that these blocks are highly pros pective for cobalt, silver and
copper.
Historic exploration conducted on the claim blocks is described below as taken from the Ontario
Mineral Deposits Inventory database website (http://www.mndm.gov.on.ca/en/mines-and-
minerals/applications/ogsearth/mineral-deposits-mdi):
• Morel (36 units) covers the Solid S ilver (MDI41P15SE00009) and Bloom Lake
(MDI41P15SE00015) occurrences, along with a fi ve kilometer section of a Nipissing
Gabbro sill. A value of 411g/t silver is repor ted from a single surface grab sample taken
at Solid Silver. Values ranging from 219 to 603 g/t silver, 0.3 to 0.9% cobalt, and 11.0 to
14.7% copper are reported from four surface grab samples taken at Bloom Lake. Previous
underground exploration work at Bloom La ke includes developm ent of a shaft and
several adits;
• United Reef (48 units) covers the Unit Reef prospect (MDI41P10SE00006) and parts of
several Nipissing Gabbro sills. A single drill ho le intersection of 1,250 g/t silver over 3.0
metres is reported at the Unit Reef prospect;
• Nicol (36 units) covers parts of a Nipissing Gabbro sill. Strong historic values have been
reported to the west, northwest and east of Nicol. In particular, values of 50 and 7,800g/t
silver were reported from two surface grab samples taken at the Byberg prospect
(MDI41P10NE00046), 400 metres west of Nicol. At the Bishop occurrence
(MDI41P10NE00002), 325 metres northwest of Ni col, a 365 metre shaft and adit were
part of the development work, with values of 0.3% cobalt and 1.6% copper reported from
a single surface grab sample taken there. To the east, values of 0.1% silver and 0.9%
cobalt were reported from a si ngle surface grab sample take n at the Powerful prospect
(MDI41P10NE00065), 575 metres east of Nicol;
• Lawson (32 units) covers parts of a Nipissing Gabbro sill. A single grab sample taken
from a trench exposing this same Nipissi ng Gabbro sill returned 65.4 oz/ton (1,844
grams) silver and 0.2% cobalt at the Lacar te prospect (MDI41P10SE00008) located 2.5
km north of Lawson.
All historic sample results quo ted above have not been verifi ed by Green Swan. Grab samples
are selective by nature and may not be representative of the rest of the claim blocks. Green Swan
has not yet carried out any field work on these bl ocks. All historic work was carried out by third
parties and Green Swan will have to carry out work to test the historic results.
The purchase price for the four Gowganda claim blocks is a total of $72,750 in cash and 450,000
units issued at a deemed price of ten cents per unit with each unit consisting of one common
share and one common share purchase warrant exercisable at $0.15 fo r a period of eighteen
months from the date of issue . The 450,000 units would be subject to a hold period of at least
four months and a day. In addition, Green Swan will grant to the vendor a Net Smelter Returns
Royalty of 2%, with half of su ch NSR re-purchasable at any time at Green Swan’s option for
$1,000,000.
The vendor is arm’s length to Green Swan. The acquisition is subject to regulatory approval.
In addition, as previously announced, Green Sw an’s management is proposing to change the
name of the company to “CBLT Inc.”. Management feels this name is more descriptive of the
company's focus on strong cobalt assets and will bring greater attention in the global markets.
The Company has reserved “CBLT” as a new trad ing symbol and shareholders will be asked at
the April 24, 2017 shareholder meeting to approve the name change.
The technical contents of this release were approved by Dr. Tom E. McCandless, P.Geo., an
independent director for Green Swan and a qualified person as defined by National Instrument
43-101. None of the claims blocks have been th e subject of a National Instrument 43-101 report
and Dr. McCandless has not verified the technical data disclosed in this release.
About Green Swan Capital Corp.
Green Swan Capital Corp. is a Canadian minera l exploration company w ith a proven leadership
team, targeting cobalt in reliable mining jurisdic tions. Green Swan is well-poised to deliver real
value to its shareholders. With the Gowganda acquisitions, Green Swan continues to build its
impressive portfolio of assets in mining-friendly jurisdictions, including its main Sudbury asset,
Dryden Cobalt, Otto Lake, Chilton Cobalt, Geneva Lake, Ryliejack and Mikayla.
Forward Looking Statements
This news release contains certa in statements that constitute fo rward-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", "p rojects", "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 includ e 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 assu mes 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: re liance 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.
On Behalf of the Board of Directors
GREEN SWAN CAPITAL CORP.
“Peter M. Clausi”
Peter M. Clausi
CEO and Director
For Further Information:
Peter M. Clausi
1 905-681-1925
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the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.