Primary Cobalt Corp. and EXCO Mining (Spain) Announces Submission of Work Program for Cobalt Exploration

- May 29th, 2018

Primary Cobalt Corp. (CSE:PRIM) (“Primary” or the “Company”) further to its announcement of April 8th, 2018 has submitted its work program on 62,416 hectares of potential of Cobalt, Copper, Nickel and Manganese permits in Almeria and Granada provinces in southern Spain.

Primary Cobalt Corp. (CSE:PRIM) (“Primary” or the “Company”) further to its announcement of April 8th, 2018 has submitted its work program on 62,416 hectares of potential of Cobalt, Copper, Nickel and Manganese permits in Almeria and Granada provinces in southern Spain.

Buran Project, Almeria, South East Spain

Historic Highlights

  • The mineralization is enriched in several elements (Co-Ni-Ag-Se-As-Hg) that entry into the category of RSE (redox-sensitive elements). Bearing in mind that the mineralization is stratified with high TOC dolomites affected by thrusts, a Mississippy Valley-type origin can be extrapolated for this deposit, with the origin of the metals in the washing of marine series or from the mafic intercalations into the series, with the carbonate/dolomite formations as a “reducing trap” for mineralization.
  • The concentrations of primary cobalt minerals are important and it will be be interesting to check their regional extension. This type of deposit can be very widespread in Betics, and could also concentrate elements of the platinum group. It is quite similar to the D.R.C. mineralizations.

References:

  • Empresa Nacional de Investigaciones Mineras ADARO, 1987, Programa de investigacion sistematica de recursos minerales – Reserva Las Estancias,.
  • Rubio Navas J, 2003, Monografía sobre recursos minerales de cobalto en España, IGME (Instituto Geológico y Minero de España).
  • Calvo Rellollar, M., 2015, minerales y minas de España (Volumen VII), Fundacion Gomez Pardo. Escuela Técnica superior de Ingeieros de Minas. Madrid.

Beatriz Project, Granada Spain

Historic Highlights

  • The main mineralizations are Pb-Zn (F) and Cu-Co (Ni, Ag). The first are embedded in carbonated formations of the Trías, associated with limestones and dolomites formed in environments restricted. The second, which is also within Triassic dolomites, barely known, although present a clear interest:
  • The mineralization adopts a stratiform morphology but closely related to a network of small fractures and diaclases, as well as to the porosity of the host rocks.

References:

  • Arana R, 1973, Investigaciones Mineralógicas en Sierra Nevada (Cordilleras Béticas. España) – TESIS DOCTORAL – Universidad de Granada.
  • Arana R. 1980, Algunos minerales característicos de la Provincia de Granada, Boletin de la Sociedad Española de Mineralogía.
  • Rubio Navas J, 2003, Monografía sobre recursos minerales de cobalto en España, IGME (Instituto Geológico y Minero de España).
  • Calvo Rellollar, M., 2015, minerales y minas de España (Volumen VII), Fundacion Gomez Pardo. Escuela Técnica superior de Ingeieros de Minas. Madrid.

The purpose of the work program submission is to comply with the provisions of Article 66 of the General Regulation for the Mining Regime, approved on August 25 through Royal Decree 2857/1978.

The work program document’s establish the general research plan to determine geological, mineralogical and structural data to confirm the existence of mineral resources that is to be carried out on the Beatriz Nº 30,840, and Buran Nº 40,693 Investigation Permits, in accordance with the provisions of article 66, point 1, section C of the regulation, including the following;

  • Methodology;
  • Resources to be deployed in research program;
  • Detail of research program;
  • Timeline for execution;
  • Plans;
  • Budgets

The technical information contained in this news release has been reviewed and approved by Daniel Porras, Dipl.-Geol, member European Federation of Geologists (“EFG”) who is a Qualified Person as defined under National Instrument 43-101.

ABOUT PRIMARY

PRIMARY COBALT CORP. (CSE: PRIM) is a listed junior exploration company and is engaged in the business of acquiring, exploring and developing ethically sourced Cobalt, Copper, Nickel and Vanadium focussed mineral resource properties to create value for its shareholders.

ACQUISITION FOCUS – Other projects Primary is investigating are in the clean energy sector. In this sector, the Company if focused specifically upon exploration opportunities to source green energy power minerals for use in battery production. Primary’s interests in this sector are guided by the following:

  • Identifying opportunities in regions that are conducive to mining due to the regulatory nature of the government with existing infrastructure.
  • Identifying opportunities in geographical locations that provide easy access large markets for these metals.
  • Identifying opportunities with locations with existing mine shafts.

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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