(TheNewswire)
Coquitlam, BC – TheNewswire -July 28, 2021 – Canada Silver Cobalt WorksInc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the "Company"or "Canada Silver Cobalt") announces that it will be extending the expiry date of an aggregate2,093,334 share purchase warrants (the "Warrants") by threeyears. The 2,093,334 Warrants are due to expire on September 6 andSeptember 13, 2021. The expiry date will be extended by three yearsand the Warrants will now expire on September 6 and September 13,2024. All other terms and conditions remain constant.
The private placement units were issued at a price of$0.30 per unit and consisted of one common share and one Warrantentitling the holder to purchase one additional common share at anexercise price of $0.50 per share for a period of two years fromclosing. The amendment is subject to the approval of the TSX VentureExchange.
About Canada Silver Cobalt WorksInc.
Canada Silver Cobalt Works released the first-everresource in the Gowganda Camp and greater Cobalt Camp. The Castle Property is 15 km east of Aris Gold Corp’s Jubygold deposit, 30 km due south of Alamos Gold’s Young-Davidson mine,75 km southwest of Kirkland Lake Gold’s Macassa Complex, and 100 kmsoutheast of new gold discoveries in the Timmins West area.
Canada Silver Cobalt Works released the first-everresource in the Gowganda Camp and greater Cobalt Camp in May 2020. Atotal of 7.56 million ounces of silver inInferred resources comprising very high-grade silver (8,582 grams pertonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from twosections (1A and 1B) of the Robinson Zone beginning at a verticaldepth of approximately 400 meters were identified. The discoveryremains open in all directions (mineralresources that are not mineral reserves do not have demonstratedeconomic viability) (refer to Canada SilverCobalt Works Press Release May 28, 2020) Reportreference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for CastleEast, Robinson Zone, Ontario, Canada , with aneffective date of May 28, 2020, and a signature date of July 13,2020).
Canada Silver Cobalt’s flagship Castle mine and 78sq. km Castle Property features strong exploration upside for silver,cobalt, nickel, gold and copper in the prolific past producingGowganda high-grade Silver District of Northern Ontario. Withunderground access at Castle, a pilot plant to produce cobalt-richgravity concentrates on site, a processing facility (TTL Laboratories)in the town of Cobalt, and a proprietary hydrometallurgical processknown as Re-2Ox for the creation of technical grade cobalt sulphate aswell as nickel-manganese-cobalt (NMC) formulations, Canada SilverCobalt is strategically positioned to become a Canadian leader in thesilver-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 norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others are forward-looking.Forward-looking statements are not guarantees of future performanceand actual results may vary materially from those statements. Generalbusiness conditions are factors that could cause actual results tovary materially from forward-looking statements.
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