First Cobalt Joins Innovative Research Project in the Cobalt Camp

TORONTO, ONTARIO--(Marketwired - Oct. 19, 2017) - First Cobalt Corp. (TSX VENTURE:FCC)(FTSSF) (the "Company") is pleased to announce as part of its commitment to ongoing research and innovation in mining and geoscience, it has joined the Mineral Exploration Research Centre (MERC) and is participating in a pioneering research initiative called Metal Earth.

Highlights

• First Cobalt has joined MERC, a partnership of world-renowned geoscientists focused on cutting-edge, field-based, collaborative research on mineral deposits and their environments; MERC is the lead organization for a new research initiative called Metal Earth
  
  

• Metal Earth's main scientific initiative is to determine the geological, geochemical, and geophysical differences between metal endowed, less endowed, and barren areas that appear outwardly geologically similar. Part of this research is to utilize seismic geophysical surveys to look 20km or more into the Earth to image crustal scale features
  
  

• First Cobalt has partnered with MERC to run a series of seismic lines in the Cobalt district; the results of this research could be a key step towards understanding the regional structural controls of the Cobalt Embayment and to identifying major structures that may be associated with mineralization in Silver Centre and in the Kerr Lake area properties, located in the Canadian Cobalt Camp
  
  

Trent Mell, President & Chief Executive Officer, commented:

"Innovation and research in exploration techniques are an essential part of our strategy to revive a historic mining district. MERC is one of the leading centres in the world for ore deposit research and, through this partnership, we will expand our own geologic knowledge and contribute to the broader scientific community. By participating in the Metal Earth initiative, we hope to gain a better understanding of the cobalt-silver mineralization controls which will in turn help us develop future exploration programs in the Cobalt Camp."

The Metal Earth initiative is focused on understanding the fundamental Earth processes that led to high metal concentrations in known mining districts compared to other areas currently considered barren. In its first year, seismic geophysical surveys will be run in several locations across northern Ontario and northern Quebec, surveying between 10 and 30km below the surface of the Earth. The surveys are conducted using four large vibroseis trucks which send vibrations into the Earth that are then measured to map rocks and structures underground.

First Cobalt has sponsored two survey lines in the Cobalt Camp (Figure 1). One is near the Keeley, Frontier, Haileybury and Bellellen mines and the second is in the Kerr Lake area that is host to several historic Ag-Co Mines including the Lawson, Kerr Lake, Drummond and Conisil Mines. The surveys will map the depth extent of the host rocks to the cobalt-silver vein systems. Additionally, these surveys may potentially identify major faults controlling metal deposition. The interpretation of results will incorporate the findings of the MERC research group as well as additional data and input from First Cobalt geoscientists which could lead to determining new areas for exploration.

The Mineral Exploration Research Centre is a semi-autonomous research centre associated with the Harquail School of Earth Sciences at Laurentian University in Sudbury Ontario, Canada, and one of the largest mineral exploration research-teaching clusters in the world. MERC is one of other mining-related research centres at Laurentian University which together form an integral part of the Goodman School of Mines. Members of MERC gain access to additional resources and research initiatives led by a world-renowned group of geoscientists.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/1103686_Fig1.pdf

About First Cobalt

First Cobalt's objective is to create the largest pure-play cobalt exploration and development company in the world. Upon completion of the mergers with Cobalt One Ltd. and CobalTech Mining Inc., First Cobalt will control over 10,000 hectares of prospective land and 50 historic mining operations in the Cobalt Camp in Ontario, Canada as well as a mill and a permitted refinery facility.

On behalf of First Cobalt Corp.

Trent Mell, President & Chief Executive Officer

For more information visit www.firstcobalt.com.

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

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance and opportunities to differ materially from those implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include the reliability of the historical data referenced in this press release and risks set out in First Cobalt's public documents, including in each management discussion and analysis, filed on SEDAR at www.sedar.com. Although First Cobalt believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, First Cobalt disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.