Canada Silver Cobalt Works Announces Management Cease-Trade Order
CANADA SILVER COBALT WORKS ANNOUNCES MANAGEMENT CEASE-TRADE
ORDER
Coquitlam, BC, May 3, 2023 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt:
4T9B) (the “Company” or “Canada Silver Cobalt”) announces that it has obtained a management cease-trade
order (“MCTO”) from the British Columbia Securities Commission (“BSCS”), the Company’s principal
regulator, under National Policy 12-203 Management Cease Trade Orders ("NP 12-203") with respect to the
Company’s audited financial statements and management's discussion and analysis for the financial year
ended December 31, 2022 (collectively, the "Annual Documents").
The MCTO prohibits the Chief Executive Officer and Chief Financial Officer of the Company from trading in
securities of the Company until the Company files the Annual Documents and the BCSC revokes the MCTO.
The issuance of the MCTO does not affect the ability of persons other than the CEO and CFO to trade in the
Company's securities.
Canada Silver Cobalt did not file the Annual Documents by the prescribed legal deadline of May 1, 2023 due
to the fact that the Company had to make the necessary arrangements with its auditors to complete the
audit of its annual financial statements. The Company has made the necessary arrangements for the audit
and is working expeditiously with its auditors to complete the annual financial statements, with the goal of
filing the Annual Documents on or before May 10, 2023.
Canada Silver Cobalt confirms that it intends to satisfy the provisions of the alternative information
guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so
long as it has not filed the Annual Documents. Canada Silver Cobalt is not currently subject to any insolvency
proceedings. The Company also confirms that there is no other material information concerning the affairs
of the Company that has not been generally disclosed as of the date of this news release.
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 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-
Canada Silver Cobalt Works Inc.
3028 Quadra Court
Coquitlam, B.C., V3B 5X6
CanadaSilverCobaltWorks.com
Draft Only
Page 2 of 2
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
focused 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
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
Neither 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.
Caution Regarding Forward-Looking Statements
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.