Update on Environmental Baseline Study

“Not only have we completed our Maiden Resource in May 2020 but, since then, have drilled over 35,000 metres of the 60,000-metre program which will contribute significantly to a resource update.”

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to report that the environmental baseline study at Castle East is on track. The company undertook a Gap Analysis late 2020. Canada Silver Cobalt has since initiated an environmental baseline study in February this year.

Highlights

• Phase I, Gap Analysis completed, consisting of initial site recon, planning of phase II and phase III program
• Significant progress with 10 monitoring well installations completed between April 29th and May 06th 2021.
• Phase II of III commenced on Q1, 2021 to complete environmental baseline study and permitting. Multiple studies are currently underway.

The completed Gap Analysis has outlined multiple studies required to move the project forward. Surface and Groundwater studies have begun with 10 monitoring wells having recently been drilled allowing monthly sampling.

Underway

Groundwater monitoring is to characterize the amount and chemistry of groundwater around the site, this will assist in the ramp design process and the design of the water treatment system that will be required to treat water from underground development.

Surface water study is to establish baseline conditions of the surrounding surface water bodies, and feeds into the permitting for the industrial sewage work permit.

Aquatic studies are to establish the baseline conditions of the aquatic environment, including fish and fish habitat, benthic invertebrates, and sediment quality.

Terrestrial studies establish the baseline conditions of the terrestrial environment, checking for species at risk, ecological communities of conservation concern and significant wetlands.

Hydrology study of the surface water is conducted to establish the flow and hydraulic conditions of the lakes and creeks. Stations have been set up on Miller Lake and surrounding outflow sites to be monitored monthly.

Coming up

Hydrogeological and geochemical studies will be commencing in the near future, Hydrogeology establishes the hydrogeological conditions of the site and will enable the development of a numerical hydrogeological model to support permitting.

Geochemistry studies are to determine the potential for Acid Rock Drainage (ARD) or metal leaching allowing the Company to be proactive in determining the best measures to treat the rock.

Matthew Halliday, P.Geo., VP Exploration and President of Canada Silver Cobalt Works, commented,

“I am pleased to announce the that the environmental permitting and baseline study at Castle East is well under way. This has been an extremely busy year for Canada Silver Cobalt; not only have we completed our Maiden Resource in May 2020 but, since then, have drilled over 35,000 metres of the 60,000-metre program which will contribute significantly to a resource update. By initiating these activities early, we will ensure that the permitting process will be smoother and accomplished in a timely manner to take full advantage of this silver cycle. Canada Silver Cobalt Works is excited to be working with all stakeholders on this important project to become one of Ontario’s next critical metals producers in a timely, open and responsible manner.”

Qualified Person

The technical information in this news release was prepared under the supervision of Mr. Matthew Halliday, P.Geo., (PGO) President and VP Exploration of Canada Silver Cobalt Works Inc., a qualified person in accordance with National Instrument 43-101.

About Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. 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 Robinson Zone beginning at a vertical depth of approximately 400 meters were identified. The discovery remains open in all directions (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. 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).

Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property features strong exploration upside for silver, cobalt, nickel, gold and copper in the prolific past producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, 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.

“Frank J. Basa”

Frank J. Basa, P. Eng. Chief Executive Officer

For further information, contact:

Matthew Halliday. P.Geo. President

514-708-7390

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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.