First Cobalt Appoints Vice President Exploration

TORONTO, ONTARIO--(Marketwired - March 27, 2017) - First Cobalt Corp. (TSX VENTURE:FCC) (the "Company") is pleased to announce the appointment of Dr. Frank Santaguida, P.Geo. as Vice President, Exploration.

Dr. Santaguida is a geoscientist with over 25 years of experience and he has worked around the world on a wide range of base and precious metal ore deposits, in which he designed, conducted, and managed exploration programs, field campaigns and research projects. His extensive experience in world-class base metal mining camps such as the Kidd Creek (Canada), Mt. Isa (Australia) and the African Copperbelt (Zambia-DRC) aligns with the Company's strategy of building a geographically diversified portfolio of cobalt projects.

He started his career with the Ontario Geological Survey before joining Falconbridge Limited (subsequently acquired by Xstrata), where he held various positions in near-mine to regional grassroots exploration and in operating mines in Canada and Australia. He subsequently joined First Quantum Minerals Limited and spent several years overseeing exploration in the Central African Copperbelt. As Principal Geologist for First Quantum, he had responsibility for global exploration project generation and property evaluations for cobalt, copper, nickel and PGE properties around the world.

Among his many professional accomplishments, Dr. Santaguida was part of a team that discovered new resources at the Frontier Mine as well as new copper and cobalt prospects in the Democratic Republic of Congo.

"The Central African Copperbelt accounts for about 65% of cobalt production worldwide," said President & CEO Trent Mell. "Having worked and lived in that mining district for several years, Frank's experience will be invaluable to First Cobalt's growth strategy."

The Company also announces that Trent Mell has been appointed as a member of the Board of Directors.

About First Cobalt

First Cobalt is focused on building a diversified global portfolio of assets that are highly leveraged to the cobalt market. Approximately 50% of global cobalt production is used in the manufacture of lithium-ion and other batteries.

The Company is currently advancing its Silver Centre, Ontario property, a 2,100-hectare property in a historic mining camp located 25 kilometers south of Cobalt, Ontario. The property includes 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

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.