Dr. Andreas Rompel reports

COBALT POWER GROUP ANNOUNCES THE ACQUISTION OF ADDITIONAL PROPERTY

Cobalt Power Group Inc. has signed an offer to purchase a 42-acre patented land claim in the Lorrain township of Ontario, Canada. The T26282 block is contiguous to the company's Smith cobalt project, increasing the total land package to 1,822 acres (737.3 hectares). The offer requires payment of 300,000 common shares for a 100-per-cent interest in the patented land claim, upon Toronto Stock Exchange approval.

Dr. Andreas Rompel, president and chief executive officer, commented: "We are delighted with this acquisition which consolidates the southwestern corner of our land package. Vein swarms, similar to the ones already defined on the Smith cobalt property, have been identified using surface mapping and significantly contribute to the strike length. Such vein kilometres are essential for the economic valuation and assessment of potential mining prospects."

The company continues to pursue further acquisitions in the Cobalt, Ont., region of Canada.

About the Smith cobalt project

The Smith cobalt project is underlain by a sequence of Archaean volcanics which are uncomformably overlain by Huronian sediments. These formations have been intruded by the Proterozoic-age Nipissing diabase sill. Faulting, on both a regional and local scale, has been found by surface mapping and in drill cores. Polymetallic veining, and especially pinkish-white carbonate veins, has also been reported. Thus, all the necessary geological components of accepted mineralization models for cobalt-silver have been identified on the properties.

About Cobalt Power Group Inc.

Cobalt Power Group is a publicly traded Canadian exploration company listed on the TSX Venture Exchange focused on cobalt exploration and development.

The company has made a series of strategic property acquisitions over the past year, seeking cobalt mineralization near Cobalt, Ont., a region with a long history of silver and associated cobalt production. Property holdings total 737.3 hectares (1,822 acres) in contiguous blocks. There are several historic mining operations on the properties that are potentially accessible, including the Smith cobalt shaft and its underground workings.

Chris M. Healey, PGeo, a director of Cobalt Power Group, is the qualified person responsible for the technical content of this release and consents to its dissemination.

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