NetworkNewsWire Releases Exclusive Audio Interview

NEW YORK, May 23, 2018 (GLOBE NEWSWIRE) -- NetworkNewsAudio, via NetworkNewsWire (“NNW”), a multifaceted financial news and publishing company that delivers a new generation of social communication solutions for business, today announces the online availability of its interview with First Cobalt Corp. (TSX.V:FCC) (OTCQX:FTSSF), a client of NNW focused on creating the largest pure-play cobalt exploration and development company in the world.

The interview can be heard at http://nnw.fm/1mUVl

NNW’s Stuart Smith welcomes Trent Mell, president and CEO of First Cobalt Corp., to an interview that highlights recent developments and milestones for the company that aims to expand its North American footprint to the U.S. through a pending acquisition of a promising asset in Idaho.

The interview begins with discussion of electronic vehicles as the backdrop of the cobalt market, as well as the continued focus to look to North America for alternate supplies outside of the Congo where controversy continues to abound. The First Cobalt team has focused on large mining jurisdictions in Canada, and Mell highlights the closing of a three-way merger that resulted in the company’s securing of roughly half of Ontario’s Cobalt Camp. As the team looked to this year, they turned their sights on expansion in the U.S.

Mell describes the status of a pending promising acquisition, stating that FTSSF is “on the cusp of completing a transaction to acquire a company called US Cobalt,” further indicating that the company “has a very attractive land package in Idaho.” First Cobalt is very optimistic in regard to the project that it estimates could be “a fast-track to production.”

Speaking of the North American battery market and integration of the company, Mell discusses the controversial source for cobalt today, with roughly 65 percent of the world’s supply currently coming out of the Congo. First Cobalt’s team of seasoned miners with extensive industry experience has continued to focus its strategy on North America in terms of sourcing cobalt, as well as to expand the company through diverse opportunity. Mell explains that after mining and producing a concentrate, cobalt must be refined into a finished stage. He emphasized that, as paramount to the company’s integration, First Cobalt has “the only permitted refinery in North America that can produce battery-grade materials today.” That is significant, Mell said, because other refining options are offshore through refineries that cannot easily treat North American ore due to the levels of arsenic that are typical to the region. Therefore, the U.S. acquisition and Idaho play are precisely intended to continue to focus expansion of the company’s footprint in North America with a refinery that Mell describes is “going to be a real key asset as we move forward.”

In lieu of current controversies, the discussion shed light on opportunities for First Cobalt. One of which surrounds current legal proceedings for Glencore due to potential royalty obligations of the company with its former partner, Dan Gertler, who is seeking $3 billion in unpaid and future royalties. Due to this and political controversies (U.S. sanctions against payments to Gertler based on ties with the DRC’s president/controversial mining in the country), there are potential appropriation and cessation issues for one of the world’s largest cobalt operations. With cobalt being the choke point for electric vehicles, the potential holding pattern is devastating while at the same time, Mell states, allows the company, “to shine the light on unexplored opportunities outside of the Congo” as producers “try to build up the world supply of cobalt materials outside of that country.”

Another bit of controversy surrounding the industry is Elon Musk’s latest warning indicating that Tesla’s use of cobalt is heading to zero. Speaking of this, Mell indicated that Tesla “cannot claim to have eliminated cobalt from its batteries” and that there are dozens of producers of electronic vehicles worldwide that all require cobalt.

“There are a couple of things that have impacted the cobalt market and have created a real buying opportunity,” Mell indicates, clarifying that one is the fact that it’s a newly developing market. Speaking of lithium and reports of a pending over-supply situation, he stated that this controversial viewpoint impacted not just lithium but also cobalt, “which makes no sense if you look at the supply and demand.” In addition, regarding Elon Musk’s warning, Mell states, “you can’t take cobalt out of the battery – full stop.”

Speaking as an executive in the industry and of the inadequate supply of the commodity that is a key component to rechargeable batteries, Mell further expounds on its high demand, “we need to lower the amount of cobalt per vehicle in order to produce more vehicles because there is just not enough.” As far as the recent controversies, Mell extrapolated upon Musk’s statement, indicating that it “does not detract from the fact that we have a pretty strong future ahead of us.”

As far as the future for First Cobalt, the company looks forward to accomplishing multiple 2018 milestones. The first of which is closing of the US Cobalt transaction, which is expected to conclude at the end of May. With that, “we should start to see some price movement around cobalt,” Mell stated in reference to the recent downward trend but emphasizing his investment and positive future expectations. “Creating value for shareholders is paramount for me and this transaction is going to get us there.”

In addition, First Cobalt’s initial post-closing milestone is to establish its first resource estimate out of the Idaho asset, which is slated for late September. Based on a non-compliant historic estimate from 1980 that is over 1 million tons, Mell expects that the market will be impressed with the new resource estimate and also with the guidance regarding the future of the market. He is optimistic with the potential for the Idaho project and putting it on the path to development. Among the company’s goals, the refinery is at the forefront. The company has been reviewing the refinery and its restart in terms of capital, and Mell is reviewing many options for its use not solely for the Idaho property, but for all of First Cobalt’s assets and also potentially “as a hub for any mineral processing and third party fees throughout the continent.”

With completion of the Idaho resource estimate and scoping out tremendous opportunity with the refinery, the future looks strong for First Cobalt throughout North America. Looking forward, Mell says that “we’ll have a lot of news coming out of Canada, as well, as we drill out 15 former producing cobalt-silver mines.”

About First Cobalt Corp.

First Cobalt aims to create the largest pure-play cobalt exploration and development company in the world. First Cobalt controls over 10,000 hectares of prospective land covering over 50 historic mines as well as mineral processing facilities in the Cobalt Camp in Ontario, Canada. The First Cobalt Refinery is the only permitted facility in North America capable of producing cobalt battery materials. First Cobalt seeks to build shareholder value through new discovery, mineral processing and growth opportunities, with a focus on North America.

For more information, visit http://www.FirstCobalt.com

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Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

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