Cruz Cobalt Clarifies Cobalt Grades as Historical

Cruz Cobalt (TSXV:CUZ) has received TSX Venture Exchange approved for its name change to Cruz Cobalt Corp., as previously announced on Feb. 9, 2017. Effective at the opening on Feb. 23, 2017, the common shares of Cruz Cobalt Corp. will commence trading on the TSX Venture Exchange and the common shares of Cruz Capital Corp. will be delisted. There is no consolidation of capital. The name change was approved by the Board of Directors on February 2, 2017. Changing the name accurately reflects Cruz’s focus on high quality, ethically located cobalt assets.
At the request of IIROC the Company wishes to clarify certain disclosure with respect to previously reported samples.
President James Nelson states, “Cruz currently has Seven cobalt projects located in Canada and one in Idaho. Cruz’s 4 separate Ontario cobalt prospects are all located in the vicinity of the city of Cobalt. According to government mineral files, the 900 acre Coleman Cobalt Prospect returned cobalt grades of 13%, the 900 acre Johnson Cobalt Prospect returned grades of 10.5% cobalt, and the 1480 acre Bucke Cobalt Prospect returned cobalt grades of 13%. The 5500 acre Hector Cobalt Prospect covers multiple cobalt occurrences. Our War Eagle Cobalt Prospect in British Columbia covers a past producing mine as well and returned assays of 6.5% cobalt.”
The historic data referred to above was taken directly from government mineral files. This data is historic in nature. The Company is planning to commence operations on these projects to attempt to reconfirm the data stated here. Assay results from the War Eagle Prospect came from surface samples. The Johnson Prospect assays were reported as grab samples. The Coleman Prospect was reported as assays of veins. The Bucke Prospect was reported as assays of unknown source. The 3 Ontario projects are all located within close proximity to the town of Cobalt. This region has been historically one of the most active and productive silver/cobalt regions in Canada. However, until the Company can carry out a geologic assessment on the properties in the coming weeks it cannot be assured that the geology on the claims will prove economic.
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101. All of the historic grades referred to in this release have not yet been verified. All the data referenced in this release was taken directly from historic government mineral files and remains to be confirmed.
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