BERWYN, PA / ACCESS Newswire / April 1, 2026 / Chilean Cobalt Corp. (OTCQB:COBA) ("Chilean Cobalt" or the "Company") is pleased to announce that its Board of Directors has unanimously approved a new Governance Framework (the "Framework") designed to strengthen financing readiness and support the Company's next phase of development, as well as any potential future uplisting to a national securities exchange.

The Framework establishes a scalable structure for oversight, decision-making, and disclosure as the Company advances its La Cobaltera and El Cofre cobalt‑copper projects and evaluates the NeoRe rare earth opportunity. It is designed to evolve across the full project lifecycle from exploration through development, operations, and ultimately closure - ensuring that governance, responsible‑sourcing oversight, and evidence systems mature alongside project complexity.

Aligned with OECD and UN due diligence standards, the Glencore Supplier Code of Conduct - reflecting the Company's existing offtake arrangement with Glencore - as well as leading ESG assurance methodologies such as Digbee and IRMA, the Framework enhances transparency, supports stronger risk management, and supports more efficient engagement with capital providers and partners.

The initiative also strengthens the Company's positioning as it advances discussions related to its $317 million non‑binding Letter of Interest from the Export‑Import Bank of the United States (EXIM). Strong governance and responsible sourcing systems, particularly clear oversight pathways and evidence systems aligned with OECD and UN due diligence expectations, are key considerations for government and commercial financing institutions.

Extensive empirical research shows that stronger governance, clearer decision pathways, and credible evidence systems tend to reduce permitting, social license, information‑quality, and execution risks - all of which can affect access to capital and financing terms.

The Board's approval underscores governance as a cost-effective lever to improve risk management, credibility, and financing outcomes. The Framework also forms the foundation of the Company's broader Enterprise Excellence system, integrating capital formation, project delivery, responsible sourcing, and operational performance.

Under the Board's resolution approving the Governance Framework in principle, implementation details, including roles, processes, and documentation systems, have been delegated to the executive team to ensure immediate application, while allowing the Framework to scale with the Company's development.

About Chilean Cobalt Corp.

Chilean Cobalt Corp. is a US‑based critical minerals exploration and development company focused on the La Cobaltera and El Cofre cobalt‑copper projects in northern Chile, one of the world's few primary cobalt districts. Chilean Cobalt is committed to creating ecological and social value for all stakeholders; economic value for Chile and the Chilean communities in which it operates; and financial value for its shareholders.

Safe Harbor Statement

This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Examples of forward-looking statements, include, among others, statements the Company makes regarding its ability to leverage the governance framework as it evolves to achieve greater financing readiness and to access broader capital markets, including both government and commercial-based markets, and support overall development, the Company's ability to meet the listing requirements of, or obtain approval for listing on, a national securities exchange, ability to successfully apply for and receive any funding from the Export-Import Bank of the United States under its non-binding Letter of Interest, ability to establish "Proven" or "Probable" Reserves, as defined by the SEC under Regulation S-K, Subpart 1300, through the completion of a Definitive Feasibility Study for the minerals that the Company seeks to produce and the inherent risks of mining, exploration, development, and processing operations that may negatively impact the business. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACTS:
Chilean Cobalt Corp.
Duncan T. Blount
Chairman & CEO
Duncan.Blount@chileancobaltcorp.com

SOURCE: Chilean Cobalt Corp.