Mr. Wayne Tisdale reports

US COBALT UPDATES PROGRESS AT THE IRON CREEK COBALT PROJECT

US Cobalt Inc. has provided an update on its 2017 exploration program at the Iron Creek cobalt project in Lemhi county, Idaho, United States.

The company has completed the rehabilitation of adit No. 1 and is in the final steps of bringing the tunnels accessed from this adit to a condition that will allow the planned geological mapping and channel sampling programs to be conducted in a safe environment and in an environmentally sound manner. Rail, ventilation, water, compressed air and a refuge chamber are being installed and will be completed prior to the start of planned underground exploration programs. The project currently has all necessary regulatory approvals to proceed with the planned exploration activities that make up the company's 2017 program.

Exploration work is scheduled to commence with the arrival of surface and underground mapping and sampling crews during the second week of July. Two surface exploration core drilling rigs will arrive on site the same week. This exploration campaign is designed to confirm the historical cobalt mineralization and to explore for extensions. As previously announced, previous tonnage and grade estimates indicate that the property contains 1,279,000 tons grading 0.59 per cent cobalt -- please refer to the company's news release dated Sept. 7, 2016.

Wayne Tisdale, chief executive officer, stated: "We are very pleased to have made such great progress at our flagship Iron Creek cobalt project. Our team has been working tirelessly to rehabilitate the adits in anticipation of our 2017 summer exploration program. We are now fully compliant and permitted to commence our much-anticipated drill campaign. With cobalt prices anticipated to reach six-year highs and the continued difficult supply chain issues in the [Democratic Republic of the Congo], we believe that the [United States] is an ideal place to explore for this metal that is an essential piece of the electric vehicle revolution."

As previously announced, due to the age of the geological work done to establish current anticipated tonnage, the company is treating the tonnage and grade estimates above as historical estimates. The historical estimates do not use categories that conform to current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) definition standards on mineral resources and mineral reserves as outlined in National Instrument 43-101, standards of disclosure for mineral projects, and have not been redefined to conform to current CIM definition standards. They were prepared in the 1980s prior to the adoption and implementation of NI 43-101. The historical estimates are contained within a report entitled "Iron Creek Prospect, Lemhi County, Idaho (#0483) Progress Report" by Terry A. Webster and Thomas K. Stump for Noranda Exploration Inc., July, 1980, which report does not detail cut-off grades and metal prices used to estimate the historical mineralization and used a tonnage factor of 11 cubic feet per ton. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources, and the company is not treating the historical estimates as current mineral resources. More work, including, but not limited to, drilling, will be required to confirm the estimates to current CIM definition standards. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the property. Other than as provided for in this press release, the company has not undertaken any independent investigation of the historical estimates or other information contained in this press release, nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The company believes that the historical estimates and other information contained in this press release are relevant to continuing exploration on the property because they identify significant mineralization that will be the target of the company's exploration program.

Garry Clark, PGeo, of Clark Exploration Consulting is the qualified person as defined in NI 43-101 who has reviewed and approved the technical content in this press release.

We seek Safe Harbor.