Mr. Frank Basa reports

CANADA SILVER COBALT INITIATES DRILLING AT CASTLE PROJECT TARGETING NEW GOLD AND SILVER MINERALIZATION

Canada Silver Cobalt Works Inc. commenced a new 1,500-metre drill program at its Castle property this week, focusing on both gold and silver targets following the recent success of gold stripping activities in the Miller Lake area.

The summer 2023 stripping program to the south and west of previous drilling identified a significant opportunity to evaluate gold prospects with the discovery from channel sampling of multiple samples above one gram per tonne gold and ranging up to 3.2 g/t gold at the surface (see news releases dated July 5 and July 20, 2023).

The targets of the drill program include the new gold areas that have been identified, the potential to identify silver below the gold prospects and new silver targets identified south of Castle East. The first hole will be located 100 metres west of previous drilling at Castle East and is expected to extend 500 metres downhole, targeting both gold near surface and silver at depth.

"The Castle project has demonstrated its potential for both gold and silver, and we are eager to capitalize on these opportunities," said Matthew Halliday, PGeo, president of Canada Silver Cobalt Works. "The success of our recent gold stripping activities has opened up new possibilities for gold mineralization in the shallow Archean cover and the potential for silver mineralization in the diabase below it. The drilling program marks a strategic step forward in our commitment to unlocking the full value of the Castle project."

The drilling program will employ oriented core and methodologies to extract valuable geological data and assess the economic viability of the identified targets. The company remains dedicated to employing sustainable and responsible mining practices throughout the exploration process.

Canada Silver Cobalt Works is a leading exploration company focused on unlocking the full potential of its flagship Castle project. With a commitment to environmental sustainability and community engagement, the company aims to contribute positively to the regions in which it operates. Canada Silver Cobalt Works remains committed to responsible resource development and continues to engage with local communities, indigenous groups and stakeholders to ensure transparent and collaborative communication throughout the company's exploration activities.

Qualified person

The technical information in this news release was approved by and prepared under the supervision of Matthew Halliday, PGeo, PGO, president and chief operating officer of Canada Silver Cobalt Works, a qualified person in accordance with National Instrument 43-101.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works recently discovered a major high-grade silver vein system at Castle East located 1.5 kilometres from its 100-per-cent-owned, past-producing Castle mine near Gowganda in the prolific and world-class silver-cobalt mining district of Northern Ontario. The company has completed a 60,000-metre drill program aimed at expanding the size of the deposit with an update to the resource estimate under way.

In May, 2020, based on a small initial drill program, the company published the region's first NI 43-101 resource estimate that contained a total of 7.56 million ounces of silver in inferred resources, comprising very high-grade silver (8,582 grams per tonne uncut or 250.2 ounces per ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Castle East Robinson zone, beginning at a vertical depth of approximately 400 metres. Note that mineral resources that are not mineral reserves do not have demonstrated economic viability. Please refer to Canada Silver Cobalt Works' press release dated May 28, 2020, for the resource estimate.

The company also has: (1) 14 battery metal properties in Northern Quebec, where it has recently completed a nearly 16,000-metre drill program on the Graal property; and (2) the prospective 1,000-hectare Eby-Otto gold property, close to Agnico Eagle's high-grade Macassa mine near Kirkland Lake, Ont., where it is exploring; and (3) the St. Denis/Sangster lithium project -- 260 square kilometres of greenfield exploration ground with numerous pegmatites focused along a significant volcanic sedimentary rock/Archean granite contact near Cochrane, Ont., contiguous to Power Metals' Case Lake lithium properties.

Canada Silver Cobalt Works' flagship silver-cobalt Castle mine and 78-square-kilometre Castle property feature strong exploration upside for silver, cobalt, nickel, gold and copper. With underground access at the fully owned Castle mine, an exceptional high-grade silver discovery at Castle East, a pilot plant to produce cobalt-rich gravity concentrates, a processing facility (TTL Laboratories) in the town of Cobalt and a proprietary hydrometallurgical process known as Re-2Ox (for the creation of technical-grade cobalt sulphate as well as nickel/manganese/cobalt (NMC) formulations), Canada Silver Cobalt Works is strategically positioned to become a Canadian leader in the silver-cobalt space.

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