CANADA SILVER COBAL T HAS EXPANDED ITS GREENFIELD LITHIUM PROPERTY IN NORTHERN ONT ARIO TO NEARL Y 23,000 HECT ARES The property, contiguous with Power Metals’ Case Lake Lithium property near Cochrane, Ontario is now almost 230 km2.
CANADA SILVER COBAL T HAS EXPANDED ITS GREENFIELD LITHIUM PROPERTY
IN NORTHERN ONT ARIO TO NEARL Y 23,000 HECT ARES
The property, contiguous with Power Metals’ Case Lake Lithium property near
Cochrane, Ontario is now almost 230 km2.
Coquitlam, BC, November 23, 2022 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt:
4T9B) (the "Company" or "Canada Silver Cobalt") announces it has expanded its holdings between Case and
Stimson Townships in the Cochrane District, Ontario by staking new claims for a total holding of 230 square
kilometres. All claims are contiguous and are in cooperation with the original property optionor (see company
News Release of November 9, 2022). The original LOI has been amended to include additional claims staked
by both parties.
The claim package is contiguous to Power Metal’s Case Lake Lithium Property where their West Joe Dyke
and Main Dyke areas have identified some significant lithium grades such as 1.58 % Li2O (Lithium) over
15.00m in PWM-22-134 (See Power Metals Corp News Release September 8, 2022) .
This Property Expansion has focussed on the contact between Archean sedimentary rock and Archean
massive to foliated granodiorite and has been extended approximately 50 km westwards and now covers 52
kilometres of this potentially critical contact. This age of rock and type of contact is a common environment
for the occurrence of (Lithium-Cesium-Tantalum) LCT-type pegmatites. As very limited historical work has
been done on these claims and geological mapping is available only at a large scale, the property has very
significant potential for new discoveries of new pegmatite dykes – the primary source of lithium in this
geological environment. These pegmatitic dykes can contain spodumene which is a lithium aluminium
inosilicate, otherwise known as a lithium ore mineral.
The amended, non-binding letter of intent sets forth the terms and conditions which shall form the basis of
the option agreement whereby Canada Silver Cobalt Works Inc. (the “Company”) may acquire up to a 100%
interest in certain mining claims located in Case, Pliny and Henley Townships, Cochrane District, Ontario (the
“Property”).
The Company and Optionor shall enter into an amended Option Agreement whereby the Optionor shall grant
to the Company the right to acquire an undivided 100% interest in and to the Property as follows:
(a) Cash payment of $15,000 and issuance of 150,000 shares of the Company to be paid to the Optionor,
upon TSX Venture Exchange (“Exchange”) approval to the Definitive Agreement;
(b) The Company incurs exploration expenditures on the Property in the amount $30,000 on or before
the one-year anniversary of the Definitive Agreement, to earn an undivided 50% interest in the
Property;
(c) Cash payment of $30,000, and issuance of 300,000 shares of the Company to the Optionor by the One
year anniversary of the Definitive Agreement date;
(d) The Company incurs exploration expenditures in the amount $60,000 on or before the second-year
anniversary of the Definitive Agreement, to earn an undivided 100% interest in the Property; and
(e) Upon exercise of the Option by the Company, the Company grants to the Optionor a 2% NSR on the
Property and on Claims within a 2-kilometre area of influence from the perimeter of the 3 claim
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com
Page 2 of 3
packages as well as to certain CCW claims in between. The Company retains a $500,000 buy back on
1% of the NSR.
Qualified person
The technical information in this news release was approved and prepared under the supervision of Mr.
Matthew Halliday, P.Geo., (PGO), President and COO of Canada Silver Cobalt Works Inc., a qualified person
accordance with National Instrument 43-101.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works Inc. recently discovered a major high-grade silver vein system at Castle East
located 1.5 km from its 100%-owned, past-producing Castle Mine near Gowganda in the prolific and world-
class silver-cobalt mining district of Northern Ontario. The Company has completed a 60,000m drill
program aimed at expanding the size of the deposit with an update to the resource estimate underway.
In May 2020, based on a small initial drill program, the Company published the region’s first 43-101
resource estimate that contained a total of 7.56 million ounces of silver in Inferred resources, comprising
very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from
two sections (1A and 1B) of the Castle East Robinson Zone, beginning at a vertical depth of approximately
400 meters. Note that mineral resources that are not mineral reserves do not have demonstrated economic
viability. Please refer to Canada Silver Cobalt Works Press Release May 28, 2020, for the resource estimate.
Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East,
Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020, and a signature date of July 13,
2020.
The Company also has: (1) 14 battery metals properties in Northern Quebec where it has recently
completed a nearly 15,000-metre drill program on the Graal property; and (2) the prospective 1,000-
hectare Eby-Otto gold property close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake,
Ontario where it is exploring. (3) lithium property – 230 square kilometers of greenfield exploration ground
focussed along a significant volcanic sedimentary rock – Archean granite contact near Cochrane, Ontario
contiguous to Power Metals’ Case Lake Lithium properties.
Canada Silver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. km Castle Property feature strong
exploration upside for silver, cobalt, nickel, gold, and copper. With underground access at the fully owned
Castle Mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich
gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary
hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as
nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is strategically positioned to become a
Canadian leader in the silver-cobalt space. More information at www.canadasilvercobaltworks.com
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
416-625-2342
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.
Page 3 of 3
Caution Regarding Forward-Looking Statements
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. A detailed discussion of the risk factors encountered by Canada Silver Cobalt is available in the
Company’s Annual Information Form dated July 19, 2021 for the fiscal year ended December 31, 2020 available under the
Company’s profile on SEDAR at www.sedar.com.