Fuse Cobalt Announces an Addition to its Board of Directors
3028 Quadra Court
Coquitlam, BC V3B 5X6
Phone : (236) 521-0207
FuseCobalt.com
Fuse Cobalt Announces an Addition to its Board of Directors
PRESS RELEASE
Coquitlam, BC – November 10, 2022 – Fuse Cobalt Inc. (“the Company“ or “Fuse”) (TSXV: FUSE,
OTCQB: FUSEF FRA:43W3) ”) is pleased to announce that effective today, Mr. Tim Fernback has
joined the Fuse Board of Directors.
Greg Reimer, Chairman of the Board states “We are excited to bring Tim back to our Company as an
experienced Director. Tim was the former Company President & CEO from 2017 - 2018, and his
experience in financing and managing public and private companies will be invaluable to Fuse’s
future success.”
In the past, Tim has held multiple senior executive positions, including oversight of the Investment
Banking and Corporate Finance Divisions at Wolverton Securities, formerly Western Canada’s oldest
brokerage firm. He was also responsible for the consulting practice at Discovery Capital Corporation,
a prominent British Columbia venture capital firm that specializes in financing and consulting. During
his time at Wolverton Securities, Mr. Fernback was responsible for due diligence reviews on
corporate clients and investment banking business development relationships. He planned and
opened 3 regional offices in western Canada and reviewed and analyzed over 300 corporate clients,
raising over $750M. Responsible for over 50 IPOs and over 100 Reverse-Mergers on the TMX and
Nasdaq, Mr. Fernback represented Wolverton nationally on various stock exchange committees and
industry groups, including the Corporate Finance Advisory Group and Underwriting Groups on
various Canadian exchanges.
Mr. Fernback currently serves as a Director for several Canadian mining companies. He holds an
Honours B.Sc. from McMaster University and is a graduate of the Sauder School of Business at the
University of British Columbia, where he completed an MBA with a concentration in Finance. He
holds a Certified Professional Accounting Designation (CPA, CMA) and is an active member of many
industry and trade organizations in Vancouver.
About Fuse Cobalt Inc. https://fusecobalt.com/
Fuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the
TSX Venture Exchange. The Company's focus is on exploration for high value metals required for the
manufacturing of batteries.
Ontario Cobalt Properties
Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east-
northeast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take
agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary
of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in
the Teledyne Project located near Cobalt, Ontario. The Teledyne Property adjoins the south and west
boundaries of claims that hosted the Agnico Mine.
Glencore Bucke/Teledyne Property
Situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario the Glencore Bucke Property
adjoins, on its northeast corner, the former cobalt producing Agaunico Mine. From 1905 through to
1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt (“Co”), and 980,000 oz of silver
2
(“Ag”) (Cunningham-Dunlop, 1979). The amount of cobalt produced from the Agaunico Mine is
greater than that of any other mine in the Cobalt Mining Camp. Production ceased in 1961 due
to depressed Co prices and over-supply (Thomson, 1964). The Glencore property is 100% owned by
Fuse Cobalt subject to a back-in provision, production royalty and off-take agreement.
The associated Teledyne Property, located in Bucke and Lorrain Townships, consists of 5 patented
mining claims totaling 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha.
The Property is easily accessible by highway 567 and a well-maintained secondary road.
Over $25 million Can has been spent thus far, (2020 dollars inflation-adjusted) on the Teledyne
Property resulting in valuable infrastructure including a development ramp and a modern decline
going down 500 ft parallel to the main cobalt mineralized vein. The Teledyne Property is subject to a
production royalty in favor of New Found Gold and an off-take agreement in favor of Glencore Canada
Corp., while the Glencore Bucke Property is subject to a back-in provision, production royalty, and an
off-take agreement in favor of Glencore Canada Corp. Glencore PLC is the world’s largest producer of
cobalt. A significant portion of the cobalt that was produced at the Agaunico Mine was located
along structures (Vein #15) that extended southward towards the northern boundary of the
Teledyne Cobalt Property, currently 100% owned by FUSE. Mineralization was generally located
within 125 ft (38.1 m) above the Huronian/Archean unconformity. Stoping widths of up to 50 ft (15.2
m) were not unusual at the Agaunico Mine (Cunningham-Dunlop, 1979).
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
Contact Information:
Email: [email protected]
Phone: 236-521-0207
Neither the 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. This news release
may contain forward-looking statements which include, but are not limited to, comments that involve future
events and conditions, which are subject to various risks and uncertainties. Except for statements of historical
facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and
security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking
statements are not guarantees of future performance and actual results may vary materially from those statements.
General business conditions are factors that could cause actual results to vary materially from forward-looking statements.