(TheNewswire)
Management Cease Trade Order Revoked
Coquitlam, BC - TheNewswire - June 20, 2023 - Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B) (the“ Company ” or “ CanadaSilver Cobalt ”) announces that it has filed its audited consolidatedfinancial statements for the fiscal year ended December 31, 2022 andcondensed interim consolidated financial statements for the threemonths ended March 31, 2023 as well as the related management’sdiscussion and analysis and CEO and CFO certifications. The documentsare available under the Corporation’s profile on SEDAR at www.sedar.com and the financial statements and MD&A are also availableon the Corporation’s website atwww.canadasilvercobaltworks.com/investors .
The Company also announces that the British ColumbiaSecurities Commission has revoked the management cease-trade order(“MCTO”) issued on May 2, 2023. The MCTO prohibited theChief Executive Officer and Chief Financial Officer of the Companyfrom trading in securities of the Company but did not affect theability of persons other than the CEO and CFO to trade in theCompany's securities.
About Canada Silver Cobalt Works Inc.
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. The Company has completed a 60,000m drill program aimed atexpanding the size of the deposit with an update to the resourceestimate underway.
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.
The Company also has: (1) 14 battery metals propertiesin Northern Quebec where it has recently completed a nearly16,000-metre drill program on the Graal property; and (2) theprospective 1,000-hectare Eby-Otto gold property close to AgnicoEagle’s high-grade Macassa Mine near Kirkland Lake, Ontario where itis exploring. (3) lithium property – 230 square kilometers ofgreenfield exploration ground focused along a significant volcanicsedimentary rock – Archean granite contact near Cochrane, Ontariocontiguous to Power Metals’ Case Lake Lithium properties. CanadaSilver Cobalt’s flagship silver-cobalt Castle mine and 78 sq. kmCastle Property feature strong exploration upside for silver, cobalt,nickel, gold, and copper. With underground access at the fully ownedCastle Mine, an exceptional high-grade silver discovery at CastleEast, a pilot plant to produce cobalt-rich gravity concentrates, aprocessing facility (TTL Laboratories) in the town of Cobalt, and aproprietary hydrometallurgical process known as Re-2Ox (for thecreation 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. 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
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.co
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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