GBBFF - Re-2ox Process Extracts 99 Percent of Rubidium from Granada Gold Mine's Battery Metals Zone

(TheNewswire)

Stage I bench-scale testing has beencompleted at SGS Lakefield using the Re-2Ox process for the recoveryof performance-enhancing battery metal Rubidium from Granada GoldMine’s drill core. Test work was funded and supervised by CanadaSilver Cobalt Works.

Coquitlam, BC – TheNewswire- January 11, 2022 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTCQB:CCWOF)(Frankfurt:4T9B) (Canada Silver Cobalt or the Company) and Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF)(Frankfurt:B6D) are pleased to announce positivebench-scale leach test results achieving 99percent extraction of the contained alkali metalrubidium from drill core sourced from the recently discovered EVbattery metals zone at the Granada Gold deposit in northwesternQuebec.

Highlights:

• SGS bench scale test-work achieves leach extraction of99% rubidium

• -- Project economics are enhancedby having gold bullion as a primary metal recovery and rubidiumcarbonate as a secondary by-product metal recovery

• -- The company is now positionedto use the Re-2Ox Process to accept additional feeds for evaluationunder a toll processing arrangement

Canada Silver Cobalt Works CEO Frank J.Basa , P.Eng., states: “To successfully leachrubidium from the mineralized material is a major accomplishment forthe Re-2Ox process. It demonstrates its flexibility in treating otherfeeds using the same chemicals and process equipment that we used toproduce base metal EV salts.”

“The company plans to reintegrate the precious metalleaching stage into the Re-2Ox process thereby making the process moreviable. This precious metal production will permit the production ofEV battery salts by-products at low or no cost. The Company will beworking closely with Granada Gold Mine Inc. in the coming months touse the Re-2Ox process to further develop the potential market andeconomics for the rubidium carbonate salts that would meet the EVbattery metals market sourcing needs.” Basa continued.

Canada Silver Cobalt aims to supply high-value metalsto the electric vehicle (EV) battery market using the Re-2Ox process. With its 100-percent ownership of property holdings in safejurisdictions containing cobalt, nickel, copper, silver and gold, itis secure in meeting the demands of the global EV battery market. As aconsequence of the encouraging results in leaching rubidium, thecompany is now actively looking for other feeds to evaluate forprocessing that it does not own but can toll process using the Re-2Oxprocess.

Discovery at Granada:

The recent discovery of a potentially large, low-gradealkali and rare earth mineralized zone at Granada Gold Mine meets theCompany criteria. With the addition of rubidium carbonate salt to theelectrolyte, battery performance in both lithium-ion and sodium-ion EVbatteries improves in charging rates and cyclability.

The EV battery metals zone consists of several alkaliand rare earth metals discovered near surface and at depth in early2021 during a 30,000-meter infill drilling program on the northernsection of the Big Claim at the Granada Gold Mine property. Two drillholes, separated by 1600 meters, were tested and assayed. The deepesthole, drilled to a depth of 1626 meters, intersected 21 distinctmineralized zones varying in width from 2.8 to 177 meters. The bestgrade, over a wide width, for rubidium was 340 grams per tonne over 53 meters.  Currentpricing for rubidium carbonate salt is about 1.00 US dollar per gram.As this EV metal mineralized zone sits stratigraphically on top of theGold mineralized zone, it may be mined to produce gold bullion as aprimary recoverable metal with a rubidium carbonate salt as aby-product there-by significantly increasing the value and economicsof the property .

Leach Test:

Drill core from the EV battery metals discovery zone,from the northern part of the Big Claim at Granada Gold Mine, was usedfor the test work at SGS Canada. The core was crushed and ground to 80percent passing 200 mesh, followed by a conventional flotation processto remove pyrite. Pyrite removal minimizeschemical consumption during the Re-2Ox leaching process. Multiplebench-scale tests were undertaken to optimize leach extraction, achieving 99percent of contained rubidium metal, by varyingleach time, chemical concentrations, and temperatures.

Reintegration of the Precious MetalsLeaching Stage into Re-2Ox Process:

The company decided to reintegrate the precious metalstage into the Re-2Ox process as the primary pay metal and produce EVby-product metals at zero or low cost. This approach de-risks projecteconomics due to massive price swings of EV battery metals.

Rubidium in EV batteries:

Rubidium carbonate salts are commonly used in EVlithium-ion batteries and, more recently, in sodium-ion batteryelectrolytes . Sodium-ion batteries use low-cost,and benign metals. Sodium is significantly more abundant than lithium,so it is possible to produce a larger quantity of EV batteries at alower cost. Sodium-ion batteries would not require costly factoryredesigns to be put into production because it would use existingtechnology. Sodium-ion battery anodes are carbon based, similar tolithium-ion batteries.

Chinese battery manufacturerCATL supplies Li-ion batteries for automanufacturers including Tesla and produces 30 percent of globalbattery needs. CATL states that “Sodium-ion batteries could offergreater fast-charging performance than current Li-ion cells , along with lifecycle andsafety performance that matches or exceeds that of our own LFP-basedlithium batteries.” CATL also points to “sodium-ion’s impressivelow-temperature performance where the chemistry sees lesscapacity-fading and less performance-fading than lithium-ion, which isknown to struggle in cold climates.” CATL has begun small-scalecommercial deployment of sodium-ion batteries in July 2021 and plansto ramp up the sodium-ion supply chain through to 2023. The mainattraction of sodium-ion batteries is sustainability. ( CATL news July 29,2021 )

Location:

The Granada Gold Mine project is located in anestablished mining district 5 km south of Rouyn-Noranda adjacent tothe prolific Cadillac Break shear zone, which is hosted in Pontiacmetasedimentary rocks, granites, and younger syenite sills along theGranada shear zone (LONG Bars Zone). The project is located on thesame side of the Cadillac Fault as the Canadian Malartic mineproperty, which has historically produced 12.7 million Ounces of goldfrom 1935 to 2010 with an additional 5 million ounces as of June 18,2020 (Canadian Malartic Technical Report of March 25, 2021 & LeCitoyen June 19, 2020).

Qualified Person:

The technical information in this news release has beenreviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., amember of the Québec Order of Engineers, and isa qualified person in accordance with the National Instrument43- 101 standards.

About Canada Silver Cobalt WorksInc.

Canada Silver Cobalt Works Inc. recently discovered amajor high-grade silver vein system at Castle East located 1.5 km fromits 100%-owned, past-producing Castle Mine near Gowganda in theprolific and world-class silver-cobalt mining district of NorthernOntario. This discovery has the highest silver resource grade in theworld, 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 ofthe deposit with an update to the resource estimate scheduled for Q12022.

In May 2020, based on a small initial drill program,the Company published the region’s first 43-101 resource estimatethat contained a total of 7.56 million ounces of silver in Inferredresources, comprising very high-grade silver (8,582 grams per tonneun-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 verticaldepth of approximately 400 meters. Note that mineral resources thatare 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, NI43-101 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.

CCW has 39,017.96 hectares of electric vehicle (EV)battery metals exploration properties (containing nickel, copper andcobalt) with 15 properties in Quebec and 1 in Northern Ontario.Exploration is underway at the Graal massive sulphide formation inNorthern Quebec. Drill core has been encouraging with initial XRFresults up to 2.79% nickel and 25.68% copper in hole NRC 21 03; labresults are still pending.

Canada Silver Cobalt’s flagship silver-cobalt Castlemine and 78 sq. km Castle Property and recently acquired propertiesin Ontario and Quebec feature strong exploration upside for silver,cobalt, nickel, gold, and copper. With underground access at the fullyowned Castle Mine, an exceptional high-grade silver discovery atCastle East, a pilot plant to produce cobalt-rich gravity concentrateson site, a processing facility (TTL Laboratories) in the town ofCobalt, and a proprietary hydrometallurgical process known as Re-2Ox(for the creation of technical-grade cobalt sulphate as well asnickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt isstrategically positioned to become a Canadian leader in thesilver

-cobalt space and battery metals. More information atwww.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 norits Regulation Service Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.

Caution RegardingForward-Looking Statements

This news release may containforward-looking statements which include, but are not limited to,comments regarding the Offering and comments that involve other futureevents and conditions, which are subject to various risks anduncertainties. Except for statements of historical facts, commentsthat address the Offering, resource potential, upcoming work programs,geological interpretations, receipt and security of mineral propertytitles, future financings, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. No assurance can be given that the Offering will close onthe terms and conditions set out in this news release or at all.General business conditions are factors that could cause actualresults to vary materially from forward-looking statements. A detaileddiscussion of the risk factors encountered by Canada Silver Cobalt isavailable in the Company’s Annual Information Form dated July 19,2021 for the fiscal year ended December 31, 2020 available under theCompany’s profile on SEDAR at www.sedar.com.

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