Global Cobalt Corp.

Global Cobalt Corp.

June 06, 2013 14:00 ET

Global Cobalt Corp. Strengthens Senior Operations Team; Appoints Dr. Michael Hitch as COO and Mr. Paul Sarjeant as VP Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2013) - GLOBAL COBALT CORP. ("Global Cobalt") (TSX VENTURE:GCO) (the "Company"), is pleased to announce the appointment of Dr. Michael Hitch, PhD, P.Geo., P.Eng., to the position of Chief Operating Officer ("COO") where he will lead the senior operations team responsible for overseeing the exploration and development of the Karakul Cobalt Project and neighbouring Altai Properties. Further, the Company strengthened the depth of its technical team with the appointment of Mr. Paul Sarjeant, P.Geo. as Vice President Exploration ("VP Exploration").

"Dr. Hitch received unanimous support from the board, recognizing his favourable influence on the Company's near term technical requirements for advancing the Karakul Cobalt project," said Erin Chutter, President and CEO. "Michael was appointed as Technical Advisor to the Board and we have come to understand the necessity of utilizing his many years of experience in mine development to strengthen the Company's intent to develop a new source of cobalt in the Altai."

Michael Hitch is a highly respected senior executive with over 25 years of international experience in the minerals sector and has been a senior executive with major mining companies around the world including AngloGold Ashanti Limited, Echo Bay Mines Ltd and Ivanhoe Mines.

Dr. Hitch has many years of experience building and financing junior resource companies and has a great deal of knowledge in resource and reserve management, mine development and exploration, and is proficient in strategic planning. For a more detailed background on Dr. Hitch, please refer to the corporate news release announcing his role as Technical Advisor to the Board of Directors dated June 27th, 2012.

Paul Sarjeant, P.Geo. is a mining and exploration geologist with extensive exploration, project evaluation and acquisition experience in the mineral sector and has considerable international exposure and management of large mining projects. Through his many years in the mining industry, he has built a solid background in company management through various executive management positions with several publicly traded resource companies.

Mr. Sarjeant began his career in the early 1980's with Echo Bay Mines Ltd as a project geologist working on Archean greenstone belts projects in the NWT, at the Lupin Mine, and skarn properties in BC and Ecuador. He was appointed Senior Geologist, International Exploration Group, responsible for project evaluation outside of North America, including precious and base metals projects in South America, East Africa, South East Asia, Russia, Mongolia, Australia, New Zealand and Europe. Mr. Sarjeant is a graduate of Queen's University and is a member of the Professional Geoscientists of Ontario.

"Mr. Sarjeant's considerable know how and years of experience in the CIS countries will certainly prove most important in advancing the flagship Karakul Project and neighbouring projects in the Altai Region. His competency as an exploration geologist and managing abilities in the mining sectors will add a great deal of authority to the senior management team," says Michael Hitch, newly announced COO of Global Cobalt. "We are thrilled to have Paul join and congratulate him on his new responsibilities as the Company matures as Global Cobalt Corporation."

The Board wishes to applaud the appointment of both Mr. Sarjeant and Dr. Hitch in their new roles with Global Cobalt and is confident that their leadership, operational skills and knowledge of international markets will prove instrumental in positioning the Company to achieve its growth objectives.

Global Cobalt Corporation (TSX VENTURE:GCO)

Global Cobalt Corp. is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects to meet demand for cobalt and other strategic metals.

Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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

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