VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) — Cruz Cobalt Corp. (CUZ—TSXv, BKTPF—OTCBB, A2DMG8–FSE) Cruz Cobalt Corp. (“Cruz” or the “Company“) wishes to announce that it has tripled its land holdings surrounding the ‘War Eagle’ cobalt prospect in BC. We recently commenced operations on this property. Cruz has now increased the acreage on the War Eagle cobalt prospect from 4,935 acres to now be 15,219 acres.
James Nelson, President of Cruz states, “We continue to accumulate cobalt assets and acreage with a mandate to focus on ethically sourced cobalt. The global demand for cobalt has never been higher. Recently, there has been talk out of the Democratic Republic of the Congo stating that a new tax for mining and specifically cobalt may be implemented. This would create an additional demand for ethically sourced cobalt. In addition, President Trump has announced that the USA wants to domestically source battery metals such as lithium and cobalt to avoid foreign imports of these strategic commodities. This is a very positive step as Cruz has projects in Canada as well as in Idaho and Montana. We plan to be active on both of the USA Cobalt projects in 2018 and currently are active in Canada. We are very optimistic about 2018 as we enter the year with more cash in the bank than any other time and cobalt prices at nine year highs.”
Cruz currently has nine cobalt projects located throughout North America, comprising of four in Ontario, three in British Columbia, one in Idaho and one in Montana. Cruz’s four separate Ontario cobalt prospects are all located in the vicinity of the town of Cobalt making Cruz one of the largest landholders in this emerging cobalt district. Cruz’s Ontario projects include the 1,265 acre Coleman cobalt prospect, the 900 acre Johnson cobalt prospect, the 15,219 acre Hector cobalt prospect and the 1,580 acre Bucke cobalt prospect. The company’s 4,935 acre War Eagle cobalt prospect in British Columbia covers a past-producing mine. Cruz’s USA projects include the 1,940 acre Chicken Hawk prospect in Montana and the 880 acre Idaho Star prospect. This new acreage was acquired via Mtonline.
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