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or Name
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CA



Cruz Cobalt Corp
Symbol CUZ
Shares Issued 77,996,888
Close 2018-04-12 C$ 0.275
Market Cap C$ 21,449,144
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Cruz Cobalt adds 305 claims units to Cobalt landholding

2018-04-12 08:20 ET - News Release

Mr. James Nelson reports

CRUZ COBALT CORP. SIGNIFICANTLY INCREASES LANDHOLDINGS IN THE ONTARIO COBALT CAMP

Cruz Cobalt Corp. has strategically increased its landholdings around the town of Cobalt, Ont. Three hundred five new claim units (cells) were added. Cruz is one of the largest landholders in the expanding Cobalt district of Ontario.

On Feb. 14, 2018, Cruz increased its acreage in the Cobalt district of Ontario. That acreage is contiguous to Cruz's Lorraine cobalt prospect which now consists of 10,556 contiguous acres bordering First Cobalt Corp. in the direct vicinity of the town of Cobalt, Ont.

Cruz president, James Nelson, stated: "We are very pleased to have added to our holdings in the Cobalt camp of Ontario. We are one of the largest landholders in the region. Cobalt prices continue to show strength and have traded to 10-year highs of over $43 per pound in the past month. Also, recent reports state that Apple is looking to secure a direct source of cobalt for the batteries used in their products. The supply of ethically mined cobalt outside of the DRC is tight and any new supply would be welcomed by buyers such as all the car companies and cellphone companies. The demand for battery metals appears to be at the start of long-term supercycle and Cruz has positioned itself early to take advantage of this boom. Cruz has a strong cash position and we plan to deploy this cash aggressively and strategically in 2018."

Recently (Jan. 22, 2018) Cruz increased its acreage on the Purcell cobalt prospect from 671 acres to 11,821 acres, consolidating the previous two separate Purcell prospects into one much larger contiguous prospect. Also on Jan. 16, 2018, Cruz increased its landholdings surrounding the War Eagle cobalt prospect in British Columbia. Cruz now has a 100-per-cent interest in 15,219 acres on the War Eagle cobalt prospect. Cruz also just recently completed an airborne survey over the War Eagle and Purcell cobalt prospects in B.C. and uncovered strong magnetic anomalies (announced Jan. 19, 2018). Management is now working diligently on advancing these two B.C. cobalt prospects.

Cruz currently has nine cobalt projects located throughout North America, comprising five in Ontario, two in British Columbia, one in Idaho and one in Montana. Cruz's five separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt, making Cruz one of the largest landholders in this emerging cobalt district. Cruz's Ontario projects include the 1,265-acre Coleman cobalt prospect, the 900-acre Johnson cobalt prospect, the 4,980-acre Hector cobalt prospect, the 1,580-acre Bucke cobalt prospect and now the 10,556-acre Lorraine cobalt prospect. The company's B.C. prospects include the 15,219-acre War Eagle cobalt prospect and the 11,821-acre Purcell prospect. Cruz's U.S. projects include the 1,940-acre Chicken Hawk prospect in Montana and the 880-acre Idaho Star prospect.

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