Mr. Patrick Morris reports

PRIMARY COBALT ANNOUNCES $3,000,000 FINANCING

Further to the news release dated May 29, 2018, Primary Cobalt Corp. has terminated the previously announced private placement and will instead do a non-brokered private placement for up to 40 million units at a price of 7.5 cents per unit to raise total proceeds of $3-million.

Each unit will be composed of one common share of the issuer and one transferable common share purchase warrant of the issuer. Each warrant will be exercisable into a common share of the company at an exercise price of 15 cents with a 12-month expiry.

The company will also have an overallotment option to place up to an additional 50 per cent of the financing.

Shares issued pursuant to this private placement are subject to a four-month-plus-one-day hold period from the closing date in accordance with applicable securities laws and, if required, the policies of the exchange.

Finders' fees or commissions may be payable by the company in connection with this private placement.

The proceeds of this private placement are for the company's exploration, acquisition costs and general working capital.

We seek Safe Harbor.