CANADA SILVER COBAL T INTERSECTS HIGH-GRADE SILVER UP TO 6,188.43 G/T AG WITH A GOLD EQUIVALENT OF 74.67 G/T AU AT CASTLE EAST Excellent intercepts from the Big Silver Zone will contribute significantly to the upcoming resource update.
CANADA SILVER COBAL T INTERSECTS HIGH-GRADE SILVER UP TO
6,188.43 G/T AG WITH A GOLD EQUIVALENT OF 74.67 G/T AU AT
CASTLE EAST
Excellent intercepts from the Big Silver Zone will contribute significantly to the upcoming
resource update.
Coquitlam, BC, January 24, 2022 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt:
4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce a continued expansion of its silver
deposit at Castle East with excellent intercepts from the Big Silver Zone containing high-grade silver and
cobalt grades. The drill results will be included in the planned resource update expected by the end of Q1
2022.
Drilling Highlights:
Big Silver intercept grading 6,188.43 grams per tonne (g/t) silver and 0.35% cobalt over 0.50m in
hole CS-21-47 located 16m downdip from Big Silver’s discovery hole CS-20-39 that graded
89,853.00 g/t silver (See press release January 29, 2021).
A second Big Silver intercept grading 2,509.41 g/t silver and 0.10% cobalt over 0.50m in hole CS-
21-73, that is located an additional 20m downdip from the intercept in CS-21-47 noted above.
Matt Halliday, President and Chief Operating Officer, commented: “Big Silver is living up to its name with the
latest intercept of 6,188 g/t silver which has a gold equivalent of 74.67 g/t. We are especially encouraged by
the 36m of total downdip extension; this type of continued expansion will be very important for our next
resource update. In addition, we can’t wait to explore these structures further from underground after a ramp
is constructed.”
The upcoming resource update will include Big Silver and several other high-grade veins intersected at the
Castle East deposit during the 53,000 meters of drilling conducted since the last resource estimate was
published in May 2020.
The Company is also well-advanced in the process of obtaining permits for a ramp down to the high-grade
deposit in order to conduct underground exploration to further expand the deposit and also to access high-
grade bulk samples that it can process into silver dore bars at its TTL bulk processing facility in nearby Cobalt,
Ontario. Discussions with the provincial government are underway, and baseline environmental studies are
expected to be completed by mid-year with the permit application filed soon after.
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com
Page 2 of 3
Table 1: Sample Details
Note: Gold equivalent (AuEq) is based on USD $24.45 oz/ton Ag and USD $1,838.33 oz/ton Au calculated Jan.
20, 2022.
Ongoing drilling in the Castle East area is geared toward expanding the existing resource panels outlined in
the Company’s maiden Resource Estimate reported in a news release May 28, 2020. The resource estimate
was the first ever in the Greater Cobalt Camp and identified zones 1A and 1B of the Robinson Zone with an
average silver grade of 8,582 g/t (250 oz/ton) in a combined 27,400 tonnes of material for a total of 7.56
million Inferred ounces of silver using a cut-off grade of 258 g/t AgEq (mineral resources that are not
mineral reserves do not have demonstrated economic viability). 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.
Location
The Castle Property is located near the town of Gowganda and is located 80km W-NW of Temiskaming Shores,
Ontario, Canada. It is also 15 km east of Aris Gold Corp’s Juby Gold deposit, 30 km due south of Alamos Gold’s
Young-Davidson mine, 75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 km southeast of
new gold discoveries in the Timmins West area.
Qualified Person
The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday,
P.Geo., (PGO), President, COO and VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in
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. This discovery has the highest silver resource grade
in the world, with recent drill intercepts of up to 89,853 grams/tonne silver (2,621 oz/ton Ag). A drill
program is underway to expand the size of the deposit with an update to the resource estimate scheduled
for Q1 2022.
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.
Hole ID Zone From (m) To (m) Length (m) Ag (g/tonne) AuEq
(g/tonne) Co (%)
CS-21-47 Big Silver 526.90 527.40 0.50 6188.43 74.67 0.35
CS-21-47 Big Silver 527.40 528.40 1.00 1076.08 12.98 <0.01
CS-21-73 Big Silver 512.50 513.00 0.50 2509.41 30.28 0.10
Page 3 of 3
CCW also has 39,017.96 hectares of electric vehicle (EV) battery metals exploration properties (containing
nickel, copper and cobalt) with 15 properties in Quebec and 1 in Northern Ontario. Exploration is underway
at the Graal massive sulphide formation in Northern Quebec. Drill core has been encouraging with initial
XRF results up to 2.79% nickel and 25.68% copper in hole NRC 21 03; lab results are still pending.
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 on site, a bulk 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 and battery metals. 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.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking statements which include, but are not limited to, comments regarding the
Offering and comments that involve other future events and conditions, which are subject to various risks and
uncertainties. Except for statements of historical facts, comments that address the Offering, resource potential, upcoming
work programs, geological interpretations, receipt and security of mineral property titles, future financings, 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. No assurance can be given that the Offering will close on the
terms and conditions set out in this news release or at all. 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.