First Cobalt Welcomes Jeff Swinoga to its Board of Directors

TORONTO, ONTARIO--(Marketwired - May 10, 2017) - First Cobalt Corp. (TSX VENTURE:FCC)(OTC PINK:FTSSF) ("First Cobalt" or the "Company") is pleased to announce the appointment of Jeff Swinoga to the Company's Board of Directors with immediate effect.

Mr. Swinoga is the Chief Financial Officer for Torex Gold Resources, and has previously held similar roles with HudBay Minerals and Golden Star Resources, as well senior management positions with Barrick Gold and Newcourt Credit Group. He has extensive international finance experience including Africa and South America, and excellent knowledge of corporate finance, M&A, and risk management. Mr. Swinoga has a B.A. Economics from the University of Western Ontario and an MBA from the University of Toronto. He is a Chartered Accountant and brings with him more than 20 years in mining and public finance.

Trent Mell, President & Chief Executive Officer commented,

"We are very pleased to welcome Jeff Swinoga to the Board of Directors of First Cobalt. He brings proven a track record of building shareholder value and offers comprehensive knowledge of corporate finance, strategic planning, and investor relations. We believe his skills and experience in both Canadian and international mining jurisdictions will be an invaluable asset as we continue to build a global portfolio of assets leveraged to the cobalt market."

The Company also announces that Kevin Ma has resigned as a director of First Cobalt. He will continue as First Cobalt's Chief Financial Officer, and the Company thanks Mr. Ma for his valuable contributions as a director.

About First Cobalt

First Cobalt is focused on building a diversified global portfolio of assets that are highly leveraged to the cobalt market. The Company's current assets include interests in an option over seven prospective copper-cobalt properties covering 190 square kilometres in the Democratic Republic of the Congo all with known surface mineralization, as well as an option in Canada for the former producing Keeley-Frontier mine, a high-grade mine that produced over 3.3 million pounds of cobalt and 19.1 million ounces of silver from 301,000 tonnes of ore.

On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

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.