Mr. James Nelson reports

CRUZ CHANGES NAME TO CRUZ COBALT CORP. AND CLARIFIES PREVIOUS DISCLOSURE

Cruz Cobalt Corp. has received TSX Venture Exchange approval for its name change to Cruz Cobalt Corp., as previously announced on Feb. 9, 2017. Effective at the opening on Feb. 23, 2017, the common shares of Cruz will commence trading on the TSX-V and the common shares of Cruz Capital Corp. will be delisted. There is no consolidation of capital. The name change was approved by the board of directors on Feb. 2, 2017. Changing the name accurately reflects Cruz's focus on high-quality, ethically located cobalt assets.

At the request of the Investment Industry Regulatory Organization of Canada (IIROC), the company wishes to clarify certain disclosure with respect to previously reported samples.

President James Nelson stated: "Cruz currently has seven cobalt projects located in Canada and one in Idaho. Cruz's four separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. According to government mineral files, the 900-acre Coleman cobalt prospect returned cobalt grades of 13 per cent, the 900-acre Johnson cobalt prospect returned grades of 10.5 per cent cobalt and the 1,480-acre Bucke cobalt prospect returned cobalt grades of 13 per cent. The 5,500-acre Hector cobalt prospect covers multiple cobalt occurrences. Our War Eagle cobalt prospect in British Columbia covers a past-producing mine as well, and returned assays of 6.5 per cent cobalt."

The historical data referred to above were taken directly from government mineral files. These data are historical in nature. The company is planning to commence operations on these projects to attempt to reconfirm the data stated herein. Assay results from the War Eagle prospect came from surface samples. The Johnson prospect assays were reported as grab samples. The Coleman prospect was reported as assays of veins. The Bucke prospect was reported as assays of unknown source. The three Ontario projects are all located in proximity to the town of Cobalt. This region has been historically one of the most active and productive silver-cobalt regions in Canada. However, until the company can carry out a geologic assessment on the properties in the coming weeks, it cannot be assured that the geology on the claims will prove economic.

The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. All of the historical grades referred to in this release have not yet been verified. All of the data referenced in this release were taken directly from historical government mineral files and remain to be confirmed.