Green Swan Adds to Cobalt Portfolio
GSW: TSX-V
GREEN SWAN ADDS TO COBALT PORTFOLIO
Burlington, ON. February 28, 2017. Green Swan Capital Corp. (TSXV:GSW) has entered into an
agreement to further expand its cobalt port folio by purchasing “Chi lton Cobalt”, in the
Laurentian Region of Quebec. Cobalt recently r eached a five year high, touching USD$21.50 a
pound after being at $9.85 in Febr uary, 2016. Green Swan target ed cobalt for these growth
opportunities and is now being rewarded for being an early mover in this space.
This latest addition to its portf olio, Chilton Cobalt, consists of nine claims totaling 497 hectares
(almost five square kilometers). As part of the purchase, the arm’s length vendor will deliver to
Green Swan all available historic data for the property, including a recently completed geological
report (non NI 43-101 compliant).
The historic work on Chilton Cobalt identified four distinct cobalt-copper-nickel showings. Grab
samples from one of the showings returned values up to 2,500 parts per million (ppm) cobalt,
3,300 ppm copper and 12,300 ppm nickel. Green Swan cannot verify the accuracy or
thoroughness of historic work until further research and analysis is completed.
Green Swan will begin its historic data review and analysis as soon as possible to enable an
exploration program in the summer of 2017.
“This will be a very busy year for Green Swan’s field team as we build shareholder value”, said
Peter M. Clausi, Green Swan’s CEO. “We intend to conduct a second round of exploration at our
Sudbury cobalt-gold asset, to explore our Dryd en Cobalt asset, and to begin work on Chilton
Cobalt.”
Green Swan continues to build its impressive port folio of assets in mini ng-friendly jurisdictions.
In Sudbury, previous surface grab sampling returned up to 4.5% cobalt and 44 g/t gold ( see news
release August 15, 2016 ) and Green Swan ran a successful diamond drill program there in
November 2017, with cobalt and gold values in every sample. Green Swan will be presenting at
PDAC Convention in Toronto on Sunday, March 5, 2017 at the Ontario Pavi lion to discuss this
unique property.
Dryden Cobalt is located roughly one kilomete r southwest of Green Swan's main Sudbury
cobalt-gold asset, also in th e highly productive S udbury Basin. This prope rty was acquired by
staking, based on Green Swan's interpretation of the Nipissing Diabase and the Huronian
sediments (Hough Lake Group – Mississsagi Formati on) which cross this property. Green Swan
intends to conduct surface exploration at this location in the summer of 2017.
As announced last week, Green Swan purchased 33 units in 4 claims in Otto Township, Larder
Lake Mining Division, Ontario ( see news release February 21, 2017 ). Those claims are on
Special Status with the Minist ry of Northern Development a nd Mines due to a prior owner's
inability to move the project th rough the permitting process. Green Swan believes it can resolve
the permitting issues, which would allow Green Swan to begin its exploration on these claims in
late 2017.
In consideration of the purchase of Chilton Coba lt, Green Swan will issue to the vendor 150,000
common shares at a deemed issue price of seven cents, and 150,000 common shares purchase
warrants having a two year term and a 10 cent exer cise price. The vendor will also receive a 2
per cent Net Smelter Returns Royalty with a buyout at Green Swan’s option on half of the NSR
for one million dollars. The transaction is subject to stock exchange approval.
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. The property has not been the subject of a National Inst rument 43-101 report and Dr.
McCandless has not verified the technical data disclosed in this release.
Green Swan granted a total of 500,000 stock options to consultants and directors, effective
February 24, 2017, exercisable at $0.075 cents each and expiring February 23, 2022.
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.
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
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.