Mr. Peter Clausi reports

CBLT ANNOUNCES DEVELOPMENTS AT CHILTON

CBLT Inc. has been advised by the optionee of the Chilton cobalt property that five of the nine claims which form the Chilton cobalt property in Quebec, Canada, were designated as part of a restricted area by the Ministry of Natural Resources and Forests (Quebec) (the MNRF) on Nov. 17, 2023 (the moratorium). The optionee has advised that as a result of the claims not being renewed prior to their expiry on Oct. 20, 2023, and the implementation of the moratorium, the MNRF has advised it that the five lapsed claims cannot be restaked until at least May 17, 2024.

CBLT is working collaboratively with the optionee to regain title to the claims. There can be no assurances that such efforts will be successful. As the optionor of the property, CBLT intends to take such steps as may be necessary to be made whole in some form.

We seek Safe Harbor.