Canada Cobalt Launches Castle Mine Tailings Initiative

Canada Cobalt Launches Castle Mine Tailings

Initiative

COQUITLAM, BC

,

March 1, 2019

/CNW/ - Canada Cobalt Works Inc. (TSXV: CCW) (OTC:

CCWOF) (

Frankfurt

: 4T9B) (the "Company" or "Canada Cobalt"), a technology leader in the

Northern Ontario Cobalt-Silver Camp, is pleased to announce that the Company has added another

catalyst to its first half 2019 strategy – a unique and environmentally friendly program with a plan to

develop cost-effective near-term recovery of silver and gold mineralization from an historic tailings

area approximately 300 meters from the #3 Shaft at the Castle mine.

The Company considers the tailings very prospective for high-grade silver and other metals, including

gold and cobalt, based on historical records and just-received results from SGS Lakefield which has

produced a gravity concentrate from the tailings grading

389

g/t silver, 0.63 g/t gold and 0.20%

cobalt.

The tailings program will initially target silver and gold and will be optimized through the Re-2OX

process to recover other metals including cobalt, nickel and copper. It will also be used as a

template by the Company for similar potential initiatives in

Gowganda

and elsewhere in the broader

region where innovative approaches to decades-old tailings issues can deliver important

environmental solutions as well as potential business growth opportunities.

Highlights:

Canada Cobalt has acquired gravity separation spiral concentrators, made by Mineral

Technologies of

Australia

, for test work which is being undertaken to complete a flow sheet for

a pilot plant that can treat a minimum of 600 tonnes of tailings per day;

Mineral Technologies' spiral concentrators are designed to be highly efficient and easy to install,

featuring minimal maintenance requirements and high recoveries;

The stamp mill coarse tailings from early 20

th

century mining at Castle will be processed

underground at the Castle mine near the #3 Shaft in a wide-open area on the first level;

The stopes on the first level will be fully cleaned out and back-filled (cemented) with the tailings

waste from the high-grade concentrate created underground.

Frank J. Basa

, Canada Cobalt President and CEO, commented. "The tailings 'problem' in

Northeast

Ontario's

historic silver-cobalt mining district is really a tailings 'opportunity', and our intention is to

capture that opportunity for Canada Cobalt shareholders.

"We've been a leader on multiple fronts in this district. We look forward to working closely with our

First Nation partners and the Ministry of Mines to implement a tailings program at Castle that can be

a model for similar initiatives in the Gowganda Camp and elsewhere throughout the region from the

town of Cobalt to Silver Centre," Basa concluded.

The above program is part of an amendment to the Company's advanced exploration permit with the

Ontario Ministry of Northern Development and Mines.

Cautionary Statement

No resource estimate or economic analysis of the Castle tailings area has been carried out by the

Company.

Canada Cobalt will not be basing a production decision at Castle on a feasibility study of mineral

reserves demonstrating economic and technical viability, and as a result there is increased

uncertainty and there are multiple technical and economic risks of failure associated with such a

decision. These risks, among others, include areas that are analyzed in more detail in a feasibility

study, such as applying economic analysis to resources and reserves, more detailed metallurgy and

a number of specialized studies in areas such as mining and recovery methods, market analysis, and

environmental and community impacts.

Canada Cobalt Presents At PDAC

Canada Cobalt President and CEO

Frank J. Basa

is scheduled to make a presentation to investors

as part of the Corporate Presentation Forum at PDAC 2019 in

Toronto

.

The presentation will be in the Energy Metals and Specialty Products session on

Monday, March 4

,

starting at

11:15 am EST

in Room 803

in the South Building of the Metro Toronto Convention

Centre.

Mr. Basa's presentation will focus on Canada Cobalt's aggressive plans and potential catalysts for

2019 including:

Today's announcement of an innovative tailings project;

Phase 2 underground drilling to follow up on recently announced Phase 1 results that included

multiple high-grade shallow cobalt and silver intercepts (refer to

Feb. 19, 2019

, news release);

The technological lead that the Company has achieved with its environmentally green Re-2OX

hydrometallurgical process for recovery of cobalt, base metals and precious metals;

Exciting Castle East discovery opportunities - gold, silver and cobalt;

Favorable share structure and plans to continue to keep share dilution to a minimum, further

distinguishing Canada Cobalt from its peers in the Northern Ontario Cobalt-Silver district.

Mr. Basa will be available for questions after the presentation and also will meet with investors

during PDAC at Booth 2738 in the Investors Exchange exhibit area on the 800 level in the South

Building.

Canada Cobalt was recently ranked by the TSX among the Top 5 Mining Companies in its 2019

Venture 50 listing of top performers on the Venture Exchange in 2018. The Company regards this

ranking as a validation of the strategy it has pursued toward building a vertically integrated mining

company.

Quality Assurance/Quality Control

A 120-kilogram sample from the Castle mine's historic tailings pond was randomly collected in pails

and subsequently transported by courier to SGS Laboratories, an accredited lab in

Lakefield,

Ontario

. Samples were submitted for assay. Aqua regia digestion and atomic absorption finish were

used for silver, gold, cobalt, nickel and copper analysis.

Qualified Person

The technical information in this news release was prepared under the supervision of

Frank J. Basa

,

P.Eng., Canada Cobalt's President and Chief Executive Officer, who is a member of Professional

Engineers Ontario and a qualified person in accordance with National Instrument 43-101.

About Canada Cobalt Works Inc.

Canada Cobalt is focused on immediate and longer-term value drivers at its past producing Castle

mine and adjoining land package in the historic Northern Ontario Silver-Cobalt district,

Canada's

cobalt heartland since the start of the electric vehicle revolution. With underground access at Castle,

an innovative tailings program with a plan to recover silver, gold and cobalt, a recently installed pilot

plant to produce gravity concentrates on site, and a proprietary hydrometallurgical process known

as Re-2OX, Canada Cobalt is strategically positioned to become a vertically integrated North

American mining company.

"Frank J. Basa"

Frank J. Basa

, P. Eng.

President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Service 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 including but not limited to

comments regarding the timing and content of upcoming work programs, geological interpretations,

receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements

address future events and conditions and therefore, involve inherent risks and uncertainties. Actual

results may differ materially from those currently anticipated in such statements.

SOURCE

Canada Cobalt Works Inc.

View original content:

http://www.newswire.ca/en/releases/archive/March2019/01/c7479.html

%SEDAR: 00022378E

For further information:

Frank J. Basa, P.Eng., President and CEO, 1-819-797-4144, or Wayne

Cheveldayoff, Corporate Communications, [email protected], 1-416-710-2410

CO: Canada Cobalt Works Inc.

CNW 17:03e 01-MAR-19