(TheNewswire)

Coquitlam, BC –


TheNewswire –


August 17, 2022 – Canada Silver Cobalt Works
Inc.


(TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B)
(the “Company” or “Canada Silver Cobalt”)
announces the appointment of Gerhard Kiessling, P.Geo., as Vice
President Exploration, succeeding Matthew Halliday, P.Geo., who will
continue as President and Chief Operating Officer.

Mr. Kiessling joined Canada Silver Cobalt in 2020 as an
exploration geologist and was later promoted to Exploration Manager.
Prior to that, he gained valuable geological exploration experience
working for several companies across Canada including Agnico Eagle,
Kirkland Lake Gold, First Cobalt, and McEwen Mining. He graduated from
the University of Waterloo in 2016 with a Bachelor of Science
(Honors), majoring in Earth Science. Growing up in northern Ontario,
he was surrounded by mining for most of his life. He is a practising
member of the Professional Geoscientists of Ontario (PGO).

“We welcome Gerhard to a more senior role at Canada
Silver Cobalt. His extensive knowledge of the geology of northern
Ontario is a major plus for us. In addition to his most recent work at
Castle East, he has participated in several exploration projects in
the area focused on a variety of metals and geological structures
which will be important as we ramp up exploration at the Eby-Otto gold
property near the high-grade Macassa Gold Mine just south of Kirkland
Lake, Ontario and about 90 kilometers north of our Castle Mine
property,” said Matthew Halliday, P.Geo., President and COO.

About Canada Silver Cobalt Works
Inc.

Canada Silver Cobalt Works Inc. recently discovered a
major high-grade silver vein system at Castle East located 1.5 km from
its 100%-owned, past-producing Castle Mine near Gowganda in the
prolific and world-class silver-cobalt mining district of Northern
Ontario. The Company has completed a 60,000m drill program aimed at
expanding the size of the deposit with an update to the resource
estimate underway.

In May 2020, based on a small initial drill program,
the Company published the region’s first 43-101 resource estimate
that contained a total of 7.56 million ounces of silver in Inferred
resources, comprising very high-grade silver (8,582 grams per tonne
un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections
(1A and 1B) of the Castle East Robinson Zone, beginning at a vertical
depth of approximately 400 meters. Note that mineral resources that
are not mineral reserves do not have demonstrated economic viability.
Please refer to Canada Silver Cobalt Works Press Release May 28, 2020,
for the resource estimate. Report reference: Rachidi, M. 2020, NI
43-101 Technical Report Mineral Resource Estimate for Castle East,
Robinson Zone, Ontario, Canada, with an effective date of May 28,
2020, and a signature date of July 13, 2020.

The Company also has: (1) 14 battery metals properties
in Northern Quebec where it has recently completed an almost
15,000-metre drill program on the Graal property and an airborne VTEM
geophysical survey is being conducted at it Lowney-Lac Edouard
property; and (2) the prospective 1,000-hectare Eby-Otto gold property
close to Agnico Eagle’s high-grade Macassa Mine near Kirkland Lake,
Ontario where it will be exploring in 2022.

Canada Silver Cobalt’s flagship silver-cobalt Castle
mine and 78 sq. km Castle Property feature strong exploration upside
for silver, cobalt, nickel, gold, and copper. With underground access
at the fully owned Castle Mine, an exceptional high-grade silver
discovery at Castle East, a pilot plant to produce cobalt-rich gravity
concentrates, a processing facility (TTL Laboratories) in the town of
Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox
(for the creation of technical-grade cobalt sulphate as well as
nickel-manganese-cobalt (NMC) formulations), Canada Silver Cobalt is
strategically positioned to become a Canadian leader in the
silver-cobalt space. More information at




www.canadasilvercobaltworks.com




.

“Frank J. Basa”

Frank J. Basa, P. Eng.

Chief Executive Officer

For further information, contact:

Frank J. Basa, P.Eng.

Chief Executive Officer

416-625-2342

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

Caution Regarding
Forward-Looking Statements

This news release may contain
forward-looking statements which include, but are not limited to,
comments regarding the use of proceeds from the Offering and comments
that involve other future events and conditions, which are subject to
various risks and uncertainties. Except for statements of historical
facts, comments that address the use of proceeds from the Offering,
resource potential, upcoming work programs, geological
interpretations, receipt and security of mineral property titles,
future financings, availability of funds, and others are
forward-looking. Forward-looking statements are not guarantees of
future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause
actual results to vary materially from forward-looking statements. A
detailed discussion of the risk factors encountered by Canada Silver
Cobalt is available in the Company’s Annual Information Form dated
July 19, 2021 for the fiscal year ended December 31, 2020 available
under the Company’s profile on SEDAR at www.sedar.com.

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