Cobalt Blockchain Provides Corporate Update ON Joint Venture Copper / Cobalt Properties, Commissioning Study ON Cobalt Hydroxide Plant and Trading ON the OTCQB Venture Market

COBALT BLOCKCHAIN PROVIDES CORPORATE UPDATE ON JOINT VENTURE

COPPER / COBALT PROPERTIES, COMMISSIONING STUDY ON COBALT

HYDROXIDE PLANT AND TRADING ON THE OTCQB VENTURE MARKET

TORONTO, ONTARIO (November 9, 2018) – Cobalt Blockchain Inc. (“COBC” or the "Company")

(TSX-V: COBC; OTCQB: COBCF) is pleased to provide a corporate update related to progress on the

Company’s cobalt project in the Democratic Republic of the Congo (“DRC”) including:

 Status of the DRC copper / cobalt joint venture properties;

 Commissioning study on the DRC cobalt hydroxide plant;

 Renewal of offer for US$10M credit facility;

 Trading on the OTCQB Venture Market; and,

 Conferences and events.

DRC Copper / Cobalt Joint Venture Properties

Further to COBC’s announcement on March. 22, 2018, two local joint venture (“JV”) companies have

been formed, namely Alpha Cobalt SAS and Cobalt Blockchain SAS. Initial property payments totalling

US$125,000 have been made to the local JV partners on the completion of due diligence related to

property title and a baseline geological assessment. A further US$275,000 in cash, 300,000 shares and

300,000 options (on terms to be agreed upon on or prior to closing) will be paid to the local JV partners

on completion of further milestones. The transactions described under this heading are subject to

approval of the TSX Venture Exchange.

A NI 43-101 compliant technical report on both properties acceptable to the TSX Venture Exchange must

be completed before the final closing of the JV agreements.

Commissioning Study on Cobalt Hydroxide Processing Plant

With reference to the Letter of Intent (“LOI”) with Traxys Europe S.A. (“Traxys”) (as previously

announced on August. 7, 2018), COBC has engaged Minxcon Consulting (Pty) Limited, a South Africa

based consulting engineering firm, to provide a commissioning study to confirm the time and capital costs

required to commence operation of the DRC cobalt hydroxide plant. After the plant is commissioned, the

initial feed will come from sources arranged by the Company such as the supply agreement previously

announced on April 1, 2018. Upon a NI43-101 compliant technical report that includes resources on the

above described joint venture properties having been obtained, feed for the plant may also come from

these properties.

The closing of the arrangements with Traxys concerning the cobalt hydroxide plant are subject to

approval of the TSX Venture Exchange and no significant resources will be allocated by the Company to

the arrangements with Traxys before the final acceptance of the Exchange.

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Renewal of Offer for Credit Facility

Further to the Letter of Intent (“LOI”) with the United Bank for Africa plc (“UBA”) (as announced on

June 14, 2018), UBA has extended the offer for the US$10 million credit facility to December 8, 2018.

The initial tranche will include US$2.0 million towards commissioning the cobalt hydroxide plant and

US$1.5 million for purchasing ethically-sourced cobalt concentrates. The credit facility will be secured

with US$350,000 in cash representing 10% of the loan amount. The agreement with UBA for the credit

facility is subject to approval of the TSX Venture Exchange.

Now Trading on the OTCQB Venture Market

COBC is pleased to announce it has qualified to begin trading on the OTCQB® Venture Market under its

existing ticker symbol “COBCF”. Moving to the OTCQB is an important step towards increasing

awareness, visibility and potentially expanding the Company's U.S. shareholder base.

OTCQB companies are current in their reporting and undergo an annual verification and management

certification process. Investors can find Real-Time quotes and market information for the company on

www.otcmarkets.com.

Conferences and Events

Over the past few months, the Company has presented keynotes and participated in panels at key mining

and blockchain events, including:

 Argus LiCoNi Conference 2018 (Singapore, Aug 28 - 29)

 Argus Blockchain in Metal Trading (Singapore, Aug 30)

 Kolwezi Mining Week (Kolwezi, DRC, Sep 12 - 14)

 IMPACT (Previously Partnership Africa Canada) From Driving Conflict to Building Peace:

Empowering Local Transformation of Natural Resources Conference (Ottawa, Sep 25)

 Massachusetts Institute of Technology ("MIT") Center for Transportation and Logistics,

Blockchain Applications in Supply Chain Management Roundtable (Cambridge, MA, Oct 9 - 10)

 Internet of Values ("IOV") Blockchain Solutions for a Changing World Conference (Paris, Oct 17)

 Responsible Minerals Initiative (“RMI”) Annual Conference (Santa Clara, CA, Oct 29 - Nov 1)

Upcoming conferences and events include:

 Mining Investment China (Beijing, Nov 7 - 8)

 Mining Investment London (UK, Nov 22 - 23)

 The Empire Club of Canada’s Blockchain Panel: The Business of Blockchain (Toronto, Nov 23)

 Mines and Money London (UK, Nov 26 - 29)

About Cobalt Blockchain Inc.

Cobalt Blockchain Inc. (TSXV:COBC) is a Canadian resource company expanding its exploration and

development business to include cobalt assets in the Democratic Republic of the Congo (“DRC”); it holds

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export trading licenses for 3T, copper and cobalt from the DRC. COBC is the first mining and mineral

trade company set up specifically to procure cobalt in compliance with the Organisation for Economic

Co-operation and Development (“OECD”) due diligence framework. COBC has developed and is

implementing a blockchain-based reporting platform to provide greater certainty of provenance and

further assurance that all minerals procured are ethically-sourced. Senior management have over twelve

years of experience working in the DRC and a proven international track record in exploration success

and the trading of certified conflict-free, child-labour-free minerals.

For additional information, please contact:

Lance Hooper, President and Chief Operating Officer

Cobalt Blockchain Inc.

Telephone: +1-416-500-3670

Email: [email protected]

Website: www.cobc.co

Forward-Looking Information

This release includes certain statements that may be deemed "forward -looking statements". All statements in this

release, other than statements of historical facts, that address future production, reserve potential, exploration

drilling, exploitation activ ities and events or developments that the Company expects are forward -looking

statements. Although the Company believes the expectations expressed in such statements are based on reasonable

assumptions, such statements are not guarantees of future performa nce and actual results or developments may

differ materially from those in the statements. There are certain factors that could cause actual results to differ

materially from those in forward -looking statements. These include market prices, exploitation an d exploration

successes, continued availability of capital and financing, and general economic, market or business conditions.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or

developments may differ materially from those projected in the forward -looking statements. For more information

on the Company, investors should review registered filings at www.sedar.com.

Neither the TSX Venture Exchange nor its Regu lation 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.