SOURCE: CobalTech Mining Inc.

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January 31, 2017 20:49 ET

CobalTech Mining Inc. Grants Stock Options

TORONTO, ON--(Marketwired - January 31, 2017) - CobalTech Mining Inc. (TSX VENTURE: CSK) (the "Company" or "CobalTech"), announces that its Board of Directors has approved the grant of 2,000,000 stock options to directors, officers, employees and consultants of the Company pursuant to the Company's approved stock option plan. The options were granted on January 23, 2017 and are exercisable at a price of $0.20 per share and have a term of five years from the date of grant and are subject to regulatory approval. In keeping with the policies of the TSX Venture Exchange (the "Exchange") and the Company's stock option plan, these options will be subject to a four month Exchange hold period.

About CobalTech:
CobalTech Mining Inc. is a cobalt mining and processing company based in Ontario, Canada. The Company owns and operates the Duncan Kerr Property located outside of Cobalt, Ontario, in an area known for its geological setting responsible for unique mineralization composed of quartz-carbonate veins enriched in silver-cobalt-nickel-bismuth-arsenic. The Company's assets and technology have provided them the foundation to become North America's first vertically integrated cobalt processing Company with the capacity to take mineralized ore through production to high-tech metals for use in the lithium battery industry. The Company is committed to operating within the strict environmental, health, and safety framework governed by the e3 Plus regulation put forth by the Prospectors & Developers Association of Canada (PDAC).

ON BEHALF OF THE BOARD

(signed) "Antoine Fournier"
Antoine Fournier, P. Geo., M.Sc.
President, Chief Executive Officer and Secretary

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.

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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