First Cobalt Expands Drill Program to Target Bellellen

TORONTO, ONTARIO--(Marketwired - Oct. 17, 2017) - First Cobalt Corp. (TSX VENTURE:FCC)(OTCQB:FTSSF) (the "Company") is pleased to announce a significant increase to its drill program to follow up on high grade cobalt assays from a sampling program at the former Bellellen mine, located within the Company's Greater Cobalt Project in Ontario, Canada. The 2017 program is now expected to continue into December and will be increased by 2,000 metres.

Highlights

• Additional 2,000m planned to follow up on high-grade cobalt and Ag-Ni-Cu mineralization sampled from previously mined surface muckpile material from the Bellellen underground mine
• Disseminated and fracture-controlled mineralization styles containing cobalt suggest a broad hydrothermal system occurs, requiring further study
• 20 drill holes will range from 50m to 150m in length to target near-surface areas around known veins to test if disseminated cobalt mineralization occurs as a halo

Trent Mell, President & Chief Executive Officer, commented:

"Bellellen has quickly emerged as a priority target for First Cobalt. These additional metres are intended to advance our understanding of the controlling structures in this area, which differ from what we have seen at Keeley-Frontier. As it is still early in our understanding of the Camp, we are looking forward to the results of this focused program."

Bellellen Drill Program

The Bellellen program will include at least 20 drill holes exploring the two previously known veins; the north-south trending Bellellen Vein and a northeast trending vein that may be continuous with the Frontier 2 Vein (Figure 1). Holes are designed to intersect a wide area around the known veins to test whether disseminated cobalt mineralization occurs as a halo. The 2,000 metre program is in addition to the 7,000 metre program already underway, bringing the total drill program for 2017 to 9,000 metres. Drill hole lengths will range from 50 to 150 metres with some holes being drilled from the same station with different dip orientation to precisely determine the vein direction as well as find the depth to the Nipissing Diabase in this area.