SOURCE: CobalTech Mining Inc.

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June 30, 2017 16:00 ET

CobalTech Announces Resignation of Director

TORONTO, ON--(Marketwired - June 30, 2017) -

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COBALTECH MINING INC. (TSX VENTURE: CSK) (FRANKFURT: 9BN1) (WKN: A2DG59) (OTC PINK: BNCIF) (the "Company") announces the resignation of Erik A. Ostensoe from the Company's Board of Directors. The Board of Directors and Management wish Mr. Ostensoe the very best in his future endeavours and express their appreciation for his service as a director over the years.

About CobalTech
CobalTech Mining Inc. is a North American cobalt company with assets in Cobalt, Ontario. The Company's properties are strategically located in an area known for its geological setting responsible for unique mineralization composed of quartz-carbonate veins enriched in silver-cobalt-nickel-bismuth-arsenic. CobalTech has entered into a binding Letter of Intent with First Cobalt Corp. whereby First Cobalt intends to acquire all the issued and outstanding common shares of CobalTech by way of court-approved plan of arrangement. Completion of the arrangement is subject to a number of conditions, including the entering into of definitive documentation, approval by the shareholders of CobalTech and receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

(signed) "Bruce Bragagnolo"
Bruce Bragagnolo. CEO

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

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