Mr. Stephen Barley reports

BANKERS ANNOUNCES CLOSING OF DEBT SETTLEMENT

Bankers Cobalt Corp. has settled debt in the aggregate amount of $136,458.20 owing to its consultants and insiders through the issuance of 2,729,164 common shares in the capital of the company at a deemed price of five cents per common share.

The issuance of the shares has been approved by the TSX Venture Exchange, and all shares issued pursuant to the debt settlement are subject to a four-month statutory hold period that will expire on the date four months and one day from the date of issue.

The issuance of a portion of the shares constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101, as certain directors and officers of the company received an aggregate of 2,158,860 shares. Bankers is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the debt settlement, insofar as it involves related parties, does not exceed 25 per cent of the market capitalization of the company.

About Bankers Cobalt Corp.

Bankers is a natural resource company with a primary focus on the acquisition, exploration and development of cobalt and copper mineral properties in the Democratic Republic of the Congo and Namibia to world-class Canadian standards. Bankers has acquired an option on licences covering 1,078 square kilometres in Namibia with the potential for copper, cobalt and other metals. Bankers holds rights to 30 separate mineral concessions strategically located in the southern DRC copper belt and having a total area of more than 400 square kilometres. Bankers has the intention to acquire interests in additional concessions or relinquish concessions in the normal course of business.

We seek Safe Harbor.