Mineral Supply Chain to be Transformed by Cobalt Blockchain and DLT Labs

Toronto (ots/PRNewswire) -

Cobalt Blockchain Inc. (the "Company" or "COBC") (TSXV:COBC) and
DLT Labs Inc. ("DLT") are pleased to announce that they have signed a
Letter of Intent to establish a joint venture to provide secure,
traceable and transparent methods for tracking and certifying the
provenance of metals and minerals, through the entire supply chain
from source to end-user.

Leveraging the expertise of COBC, and DLT's supply chain and
logistics product DL Asset Track, the joint venture will develop and
deploy a new enterprise-grade platform based on international
blockchain standards. The new platform will be specifically designed
for companies trading in base and precious minerals, including
cobalt, gold, and diamonds. The initiative addresses the growing need
for complete transparency in the movement of minerals and metals,
especially where conflict-free certification is important. The new
platform will be selectively piloted prior to being offered on a
commercial basis, beginning with COBC's recently-announced cobalt
assets in the Democratic Republic of the Congo ("DRC").

COBC's business is to provide conflict-free cobalt to address the
demand for advanced batteries in smartphones and electric vehicles,
tracked via a blockchain-based platform, providing transparency and
immutability of the certification record. COBC has 12 years of
on-the-ground experience, and holds licenses for 3T (tin, tungsten,
tantalum) conflict-free metals, in the DRC. The Company recently
announced two definitive agreements for cobalt/copper concessions in
proximity of active artisanal and small-scale ("ASM") copper/cobalt
mining in the DRC, totalling over 48 square kilometers. COBC has also
signed letters of intent and is working towards definitive agreements
for several other mineral concessions in addition to exclusive supply
agreements with local mining cooperatives.

More than 12 percent of global cobalt production currently
originates from ASM operations in the DRC and the announced joint
venture represents a significant step forward in COBC's goals of
delivering certified, ethically-sourced cobalt to the market in the
near-term. Trading partners from ASM sources to smelters to
automotive partners can collaborate and establish a shared view of
end-to-end transactions without compromising confidential details or
privacy.

"This initiative is a significant milestone in ensuring the supply
and use of conflict-free minerals, and will have an enduring and
positive impact on our industry," said Lance Hooper, President and
Chief Operating Officer at COBC. "The combination of COBC's mining
and metals trading, conflict-free certification experience, and DLT's
innovative and enterprise-grade blockchain capabilities, signal an
ability to automate trust within the minerals and metals supply
chain."

"Companies and consumers demand assurances that the minerals and
metals in their products are conflict-free. We now have the
technology and tools to protect workers and prevent abhorrent labor
practices so there is no excuse to support bad actors", said Loudon
Owen, Chairman and CEO of DLT. "We are excited to partner with COBC,
with their vast experience and deep domain expertise, to ensure
supply chain transparency and the ethical sourcing of minerals."

DLT is a global leader in blockchain platforms, properly known as
Distributed Ledger Technology, which enable an immutable record of
the transactions in the supply ecosystem, allowing permissioned
parties real-time access to secure and trusted data. Blockchain
technology is ideally suited for application to a large network of
partners.

About Cobalt Blockchain Inc.

Cobalt Blockchain Inc. ("COBC") (TSX-V:COBC) is a Canadian
resource company expanding its exploration and development business
to include cobalt assets in the Democratic Republic of the Congo
("DRC"). COBC has been authorized by its shareholders to acquire a
100% interest in an existing metals trading business specializing in
sourcing conflict-free minerals from artisanal and small-scale mines
in the DRC. Leveraging its experience with existing mineral
traceability systems, COBC is developing a Distributed Ledger-based
certification platform to provide manufacturers and end-users greater
certainty of provenance and further assurance that all minerals
procured are ethically-sourced. COBC senior management have over
twelve years of experience working in the DRC and have a proven
international track record in exploration success and the trading of
certified conflict-free, child-labour-free minerals.

About DLT Labs Inc.

DLT Labs Inc. ("DLT") is a global leader in the development and
implementation of Blockchain solutions for enterprises, with offices
in Canada, India and Japan. With the world's premier team of
distributed application designers and integrators, DLT has extensive
enterprise experience and expertise with all distributed
ledger/Blockchain technologies including Enterprise Ethereum, IBM's
Fabric, R3's Corda, JP Morgan's Quorum, and other leading enterprise
platforms. DLT's leading group of architects, using proprietary DNC
Cluster Framework and Parent & Child Smart Contract Architecture,
have designed and deployed a suite of secure and scalable Distributed
Applications that provide enterprise solutions for data and digital
asset provenance storage, management and exchange. DLT is an
Authorized IBM Business Partner.

Forward-Looking Information

This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future production,
reserve potential, exploration drilling, exploitation activities and
events or developments that the Company expects are forward-looking
statements. Although the Company believes the expectations expressed
in such statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
statements. There are certain factors that could cause actual results
to differ materially from those in forward-looking statements. These
include market prices, exploitation and exploration successes,
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and
actual results or developments may differ materially from those
projected in the forward-looking statements. For more information on
the Company, investors should review registered filings at
http://www.sedar.com.

Neither the 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.

Lance Hooper, President and Chief Operating Officer, Cobalt
Blockchain Inc., Telephone: +1-416-500-3670, Email: info@cobc.co,
Website: http://www.cobc.co; Loudon Owen, Chairman and Chief
Executive Officer, DLT Labs, Telephone: +1-416-307-3271, Email:
Loudon.Owen@dltlabs.com, Website: http://www.dltlabs.com

ots Originaltext: Cobalt Blockchain Inc.
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