Primary Cobalt Announces Completion of Prospecting Study Identifies Vanadium and Uranium Claims in Utah’s – Uravan Belt

- August 9th, 2018

Primary Cobalt (CSE:PRIM) (“Primary” or the “Company”) is pleased to announce it has completed the previous announced prospecting study (July 25th, 2018) which identifed key vanadium – uranium claims in the highly prospective Uravan belt in Utah. The company is currently negotiating an arms length purchase agreement with the project stakeholder. The company has recently set up a subsidiary Primary Nirvana Inc. to hold its US assets.

Primary Cobalt (CSE:PRIM) (“Primary” or the “Company”) is pleased to announce it has completed the previous announced prospecting study (July 25th, 2018) which identifed key vanadium – uranium claims in the highly prospective Uravan belt in Utah. The company is currently negotiating an arms length purchase agreement with the project stakeholder. The company has recently set up a subsidiary Primary Nirvana Inc. to hold its US assets.

The Uravan Mineral Belt has been explored since the late 1880s, when early prospectors discovered radium, vanadium and uranium in the carnotite ores of the Paradox Valley. Since then, these three elements have alternated as the predominant economic resource based upon the market conditions.

Prior to 1930, most of the vanadium produced in the United States came from the roscoelite deposits near Rifle and Placerville in Colorado.

The rising demand for vanadium as a steel alloy and the Vanadium Redox Flow Battery (“VRFBs”) has sparked renewed interest in the vanadium deposits in the Uravan Belt. VRFB’s are getting more attention from utilities companies, and large battery projects have already been announced.

United States – A total of 23 metals and minerals – including vanadium and uranium – are ‘critical’ to the national economy and security of the USA, according to a new study released by the US Geological Survey.

Patrick Morris stated, “Results of previous exploration and past production within the Uravan belt, coupled with recent US political focus on sourcing strategic metals locally, we believe there is a strong opportunity for Primary and its shareholders to benefit.”

The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc and Certified Professional Geologist, who is a Qualified Person with respect to Polar Mesa claims as defined under National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ Patrick Morris

President

Patrick Morris, CEO

Telephone: +1 778-735-1000

E-mail: info@primarycobalt.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.  A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

 

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