TSXV: CPO, Pink Sheets:
CBBWF
TORONTO, July 3, 2018 /CNW/ - Cobalt Power Group Inc.
("Cobalt Power" or the "Company") (TSXV: CPO, OTC Pink: CBBWF) is
pleased to announce that it has received a comprehensive N.I.
43-101 Technical Report (the "Report") focusing on the exploration
potential of the Company's Smith Cobalt and Canadian Cobalt
Projects in the historic Cobalt
and Silver Centre mining camps of northeastern Ontario. The Report was completed by CSA
Global Canada Geosciences Ltd ("CSA Global"), with Ian Trinder as the lead author. A copy of the
Report can be found at www.sedar.com.
The Report states that "CSA Global considers the Smith and
Canadian Cobalt Projects to be at an early stage of exploration and
recommends a multifaceted exploration program including historical
and current data compilation, continued airborne geophysical
surveys to cover both Project areas, prospecting, geological
mapping, testing of ground geophysical and geochemical methods with
follow-up surveys and finally diamond drill testing of targets
developed from these programs."
CSA Global also stated: "The Projects have potential for
additional cobalt-silver discoveries near historical mines and
mineral occurrences and for new mineralized zones in areas with
little past exploration (particularly the Canadian Cobalt Project
area)."
The Company is currently undertaking such a program,
concentrating initially on airborne geophysics, with follow up
prospecting, mapping and sampling.
About Cobalt Power Group Inc.
Cobalt Power is a publicly traded Canadian exploration company
listed on the TSX-Venture Exchange and U.S. Pink Sheets (TSXV: CPO,
OTC Pink: CBBWF) focused on cobalt exploration and development.
The Company has made a series of strategic property acquisitions
over the past two years, seeking cobalt mineralization near
Cobalt, Ontario, a region with a
long history of silver and associated cobalt production. Property
holdings total approximately 11,680 hectares (28,861 acres) in
contiguous and strategic claim blocks. There are several historic
mines on the properties that are potentially accessible, including
the Smith Cobalt shaft and its underground workings.
Qualified Persons
Chris M. Healey, P. Geo, VP
Exploration and a Director of Cobalt Power Group, is the
qualified person responsible for the technical content of this
release, and consents to its dissemination.
Information related to the NI 43-101 Technical Report contained
in this news release has been reviewed and approved by the Report
author, Ian D. Trinder, P. Geo., a
Principal Geologist of CSA Global and independent Qualified Person
as defined by NI 43-101, with the ability and authority to verify
the authenticity and validity of the information.
Other Business
Cobalt Power is announcing the resignation of Greig Hutton as CEO, President and Director. The
Board of Directors wish to thank Mr. Hutton for his service.
On behalf of the Board of Directors
Brian Murray
Director
Cobalt Power Group Inc.
www.cobaltpowergroup.com
We seek safe harbor.
The company's profile may also be viewed on www.sedar.com.
The TSX Venture Exchange Inc. has in no way passed upon
the merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
Forward Looking Information
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
News Release. WARNING: The Company relies on litigation protection
for "forward looking" statements. Actual results could differ
materially from those described in the news release as a result of
numerous factors, some of which are outside the control of the
Company. This news release does not constitute an offer to sell or
a solicitation of an offer to sell any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE Cobalt Power Group Inc