Canada Silver Cobalt Works Secures OJEP Funding for Sangster and St. Denis Lithogeochemical Exploration Ontario Building up Critical Minerals Supply Chain
Canada Silver Cobalt Works Secures OJEP Funding for Sangster and St.
Denis Lithogeochemical Exploration
Ontario Building up Critical Minerals Supply Chain
Coquitlam, BC, October 18, 2023 - Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF)
(Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is thrilled to announce the approval of
funding under the Ontario Junior Exploration Program (OJEP) for its Sangster and St. Denis
properties. The funding, provided by the government of Ontario, will support the development of a
lithogeochemical map, further advancing lithium exploration in the region.
Key Details of the OJEP Funding:
Total Approved Funding: Canada Silver Cobalt Works has been granted a maximum of
$104,386 in funding from the government of Ontario. This funding will substantially
contribute to the project's total eligible costs of $208,772.
Project Timeline: The project is scheduled to take place between April 1, 2023, and February
16, 2024.
“Early exploration in our province is needed to find future mines to fuel the technologies of
tomorrow,” said George Pirie, Minister of Mines. “Supporting junior mining companies like Canada
Silver Cobalt Works Inc. on their search for critical minerals improves our global competitiveness
and demonstrates that Ontario’s mining sector is open for business.”
Matthew Halliday, President, and COO of Canada Silver Cobalt Works, expressed his gratitude, stating,
"I would like to thank the government of Ontario for the approval of funding under the OJEP program.
This will allow us to augment our exploration program to progress a new grassroots lithium
exploration project in Ontario. Canada Silver Cobalt Works is well-aligned to see new critical metals
projects in Canada and is grateful for the support of Ontario to help build the upstream and
downstream capabilities of the Province as we strive to secure critical minerals for mining,
processing, and advanced manufacturing."
This OJEP funding represents a significant step forward in Canada Silver Cobalt Works' mission to
advance and secure critical minerals in Ontario while fostering responsible resource development.
Canada Silver Cobalt Works remains committed to responsible resource development and continues
to engage with local communities, Indigenous groups, and stakeholders to ensure transparent and
collaborative communication throughout our exploration activities.
Investors, media, and stakeholders are invited to stay updated on the latest developments by visiting
the Company's website at www.canadasilvercobaltworks.com.
Qualified person
The technical information in this news release was approved by and prepared under the supervision
of Mr. Matthew Halliday, P.Geo., (PGO), President and COO 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 proliϐic
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 ϐirst 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-
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 greenϐield exploration
ground focussed along a signi ϐicant volcanic sedimentary rock – Archean granite contact near
Cochrane, Ontario contiguous to Power Metals’ Case Lake Lithium properties.
Canada Silver Cobalt’s ϐlagship 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 Ofϐicer
For further information, contact:
Frank J. Basa, P .Eng.
Chief Executive Ofϐicer
416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is de ϐined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is de ϐined 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 In formation Form dated July 19, 2021 for the ϐiscal year ended
December 31, 2020 available under the Company’s proϐile on SEDAR at www.sedar.com.