Mr. Anthony Milewski reports

COBALT 27 ANNOUNCES FIRST BLAST AT VOISEY'S BAY MINE EXPANSION

Cobalt 27 Capital Corp. has received confirmation from Vale of the start of the Voisey's Bay transition to underground mining with the first blast at the Reid Brook portal rock face of the Voisey's Bay mine expansion. The Voisey's Bay mine is located in Newfoundland and Labrador, Canada.

"Congratulations to the Vale team on this important milestone. The blast, which was ahead of schedule, is the first of thousands that will take place over the life of the project and is a key milestone, marking the commencement of underground construction of the Voisey's Bay mine expansion, which is expected to be an important source of cobalt outside of the DRC [Democratic Republic of the Congo]. Construction activities on the Voisey's Bay underground mine are now focused on starting the underground development on all four declines, with significant initial construction planned through to the end of 2018 into early 2019," commented Anthony Milewski, chairman and chief executive officer of Cobalt 27 Capital.

On June 28, 2018, Cobalt 27 Capital announced that the company had closed its acquisition of a $300-million (U.S.) cobalt stream on Vale's Voisey's Bay mine, including from the planned Voisey's Bay mine expansion. The company's 32.6-per-cent cobalt stream is expected to deliver approximately 1.9 million pounds of cobalt per year to Cobalt 27 Capital, to be settled in physical delivery for the life of the mine, commencing Jan. 1, 2021. Vale announced its plans to proceed with the construction of the Voisey's Bay mine expansion on June 11, 2018, and is expected to have its first full year of production in 2021. Total estimated capital expenditures to complete construction and commissioning of the Voisey's Bay mine expansion are estimated by Vale to be approximately $1.7-billion (U.S.). Vale expects the Voisey's Bay mine expansion to extend the mine's life to 2034.

About Cobalt 27 Capital Corp.

Cobalt 27 Capital is a leading electric metal investment vehicle, offering exposure to metals integral to key technologies of the electric vehicle and battery energy storage markets. The company has acquired a cobalt stream on Vale's world-class Voisey's Bay mine beginning in 2021, including the announced underground expansion. Cobalt 27 Capital is also acquiring the world's first producing cobalt nickel stream on the low-cost, long-life Ramu nickel-cobalt mine, and holds one of the world's largest stockpiles of physical cobalt. The company also manages a portfolio of nine royalties and intends to continue to invest in a cobalt-focused portfolio of streams, royalties and direct interests in mineral properties containing cobalt.

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