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Canada Silver Cobalt Releases Maiden NI 43-101 Mineral Resource Estimate for Castle East Robinson Zone

May 28, 2020

Canada Silver Cobalt Works Inc. has announced the results of its first NI 43-101 Mineral Resource estimate for the early stage Castle East Robinson Zone discovery in the heart of the past producing Gowganda Silver Camp, 75 kilometers southwest of Kirkland Lake.

Castle East is part of Canada Silver Cobalt’s 100%-owned, 78 sq. km Castle Property also featuring the Castle mine. Late last year the company initiated a follow-up program to a 2011 discovery hole approximately two km southeast of the mine, and within two km of two other past producers, that returned a high-grade intercept of 40,944 g/t silver (1,194 oz/ton) over a core length of 0.45 meters (refer to August 25, 2011, Gold Bullion Development news release). Four holes (CS-19-08W1, CS-19-08W2, CS-19-08W3 and CS-19-W4) were wedged off the 2011 hole followed by four holes (CS-19-20, CS-19-21, CS-20-22 and 23) drilled to intersect the vein zone from a different angle. The latest hole was drilled parallel to and collared 45 meters from the historic hole. CCW’s program aimed to delineate the extent of the high-grade mineralization within the Robinson Zone that shows very high grades in the form of native silver.

The mineral resource estimate used the four wedge holes and the four holes drilled from surface (CS-19-08W1 to W4; CS-19-20, CS-19-21; CS-20-22 and CS-20-23) and one historical drill hole (CA1108).

This resource estimate was independently prepared by GoldMinds Geoservices Inc. in accordance with National Instrument 43-101 (“NI 43-101”) and is dated May 28, 2020.

Notably, Zones 1A and 1B have an average silver grade of 8,582 g/t (250.2 oz/ton) in a combined 27,400 tonnes of material for a total of 7,560,200 Inferred ounces using a cut-off grade of 258 g/t AgEq (mineral resources which are not mineral Reserves do not have demonstrated economic viability).

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