Mr. Frank Basa reports

CANADA SILVER CLOSES 2ND AND FINAL TRANCHE OF PRIVATE PLACEMENT

Canada Silver Cobalt Works Inc., further to its news release dated Nov. 2, 2023, and Nov. 6, 2023, has closed a second and final tranche of a non-brokered private placement by way of issuing 18.25 million Quebec flow-through (QFT) units at four cents per QFT unit, for total gross proceeds of $730,000. The company raised a total of $1.63-million in both tranches of the financing.

Each QFT unit comprises one common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share of the company at an exercise price of eight cents per share, for a period of two years from closing, subject to exchange approval.

The QFT proceeds will be used for drilling and exploration work on the company's Lowney-Lac Edouard property, located in central Quebec.

GloRes Securities Inc., the lead finder for the second tranche closing was paid $41,100 cash and 1,027,500 finder's warrants. Qwest Investment Fund Management Ltd. received $17,500 cash and 437,500 finder's warrants. Each finder's warrant will entitle the finder to purchase one share of the company at an exercise price of five cents per share, for a period of two years from closing.

The finders' fees paid in connection with the private placement are subject to exchange approval.

All securities issued in connection with the private placement will be subject to a four-month-and-one-day hold period expiring on March 28, 2024, in accordance with applicable Canadian securities laws.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt 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 National Instrument 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 and do not have demonstrated economic viability. Please refer to Canada Silver Cobalt's news release dated May 28, 2020, for the resource estimate.

The company also has: (1) 14 battery metals properties in Northern Quebec, where it has recently completed a nearly 16,000-metre drill program on the Graal property; (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's 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 is strategically positioned to become a Canadian leader in the silver-cobalt space.

We seek Safe Harbor.