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EDDY.V ·

Edison Appoints New CFO and Director

Management Changes

Suite 820, 1130 West Pender Street, Vancouver, BC V6E 4A4

Tel: 416 276-6689 / Fax: 888 909-1033 / www.edisoncobalt.com

TSX VENTURE EXCHANGE: EDDY NEWS RELEASE

OTCMARKETS: PWMRF FRANKFURT: VV01

EDISON APPOINTS NEW CFO AND DIRECTOR

Vancouver, British Columbia – February 2, 2021 – Edison Cobalt Corp (“Edison” or the "Company") (TSX-

V: “EDDY”) is pleased to annouce Jay Richardson, CA, CPA, has been appointed Chief Financial Officer and

director of the Company, effective immediately.

Mr. Richardson is a Chartered Accountant with 40 years of experience in financial management. From

1974 to 1989, Mr. Richardson was first employed by, and then a partner of, Clarkson Gordon and its

international affiliate, Arthur Young (both now E&Y), in Toronto, London, Vancouver and Singapore. From

1989 to 1993, Mr. Richardson was a partner of KPMG in London and was responsible for establishing its

corporate recovery practice in Europe. Since 1993, Mr. Richardson has been practising as a company

doctor, assisting distressed corporation s, both public and private, and has been a partner of James A.

Richardson & Partner, company doctors. From 1999 to 2003, Mr. Richardson served as a director of

Plaintree Systems Inc., a Toronto Stock Exchange-listed Internet technology company, and as interim chief

executive officer in 1999 oversaw successful reorganization leading to refinancing of the company. Mr.

Richardson served as Interim Chief Financial Officer of Hollinger Inc. following its Chief Financial Officer's

sudden disability in June 2004, and subsequently for many years as a director of Argus Corp. and its chair.

Mr. Richardson is currently a director and officer of Enerspar Corp., a TSX Venture Exchange -listed

exploration and development company in the new energy area of potassic feldspar. He serves as a director

and officer of Manganese X Energy Corp ., a TSX Venture Exchange -listed exploration and development

company in the new energy area of manganese mining prospects and technologies. Mr. Richardson is also

a director of Water Ways Technologies Inc. (TSX.V: WWT) and BacTech Environmental ( CSE: BAC). Mr.

Richardson received a Bachelor of Arts from the University of Toronto in 1967 and is a Fellow of the

Insolvency Practitioners Association of the United Kingdom (retired).

Mr. Richardson is replacing Mr. Christopher Hobbs as Chief Financial Officer of the Company. Edison

thanks Mr. Hobbs for his contributions as its CFO and he will continue to serve as a director of the

Company.

Finally, Mr. Eric Falardeau has resigned as a director of the Company. Edison thanks Mr. Falardeau for his

contributions to the Company and wishes him well in future endeavours.

About Edison Cobalt Corp.

Edison Cobalt Corp. is a Canadian-based junior mining exploration company focused on the procurement,

exploration and development of cobalt, lithium and other energy metals. Edison Cobalt Corp.’s acquisition

strategy focuses on acquiring affordable, cost -effective and highly regarded mineral properties in areas

with proven geological potential. The Company is looking to build a portfolio of quality assets capable of

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Suite 1080, 789 West Pender Street, Vancouver, BC V6C 1H2

Tel: 604-687-4719 Fax: 604-687-4778 www.edisoncobalt.com

supplying critical materials to the battery industry. The Company intends to capitalize on and have its

shareholders benefit from the renewed interest in the battery metals space.

On behalf of the Board of Directors: For more information please contact:

“Neil Pettigrew” Tel: (416) 276-6689

Neil Pettigrew Email: [email protected]

Chief Executive Officer, Director Website: www.edisoncobalt.com

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.