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Vancouver, British Columbia – (February 2, 2018) – Bankers Cobalt Corp. (TSX Venture: BANC) (the “Corporation” or “Bankers”) announces that it has entered into an agreement to earn up to a 70% interest in six additional concessions in the southern Democratic Republic of Congo (DRC) Copperbelt. Bankers now has a total of 26 concessions with potential for cobalt and copper in the DRC with a total area of more than 391 km². Bankers has one of the largest DRC cobalt and copper exploration land packages held by a junior mining company.
The concessions are all located in the southern DRC Copperbelt. Five of the concessions are located north of Kambove and northeast of the Tenke Fungurume operating copper and cobalt mine. One of the concessions is west of Malambwe in the general vicinity of Bankers Kankutu project. The six concessions contain 110 carrés, totaling 92.4 km² in area. These six concessions were obtained from the same high-quality DRC partner as the six concessions announced in Bankers’ news release of January 4, 2018. Bankers appreciates our partner’s faith in our exploration team’s ability to assess and conduct exploration activities to world-class Canadian standards on multiple concessions at the same time.
Kevin Torudag, the President of Bankers’ DRC subsidiary stated, “Competition for quality concessions in the DRC Copperbelt is increasing. Companies appear to be coming to the realization that if you want to be a contender in the global cobalt sector, your company must consider acquiring suitable projects in the southern DRC Copperbelt. Bankers has a superior portfolio of concessions and these concessions were acquired at a substantially lower cost than the price per concession new entrants in the DRC will be forced to pay, if they can find a quality project within the dwindling available concessions. Bankers will continue to assess and acquire additional concessions on a very selective basis. Bankers will assess projects more advanced than our current portfolio and, in addition, will continue our efforts on exploration and development of our 391 km² land holdings.”
Bankers is a natural resource company focused on the acquisition, exploration and development of cobalt and copper mineral properties in the DRC to world-class Canadian standards. This will address the supply chain custody and verifiable sources of ore issue being imposed on processors in the DRC by consumers. Bankers holds rights to 26 separate mineral concessions strategically located in the southern DRC Copperbelt with a total area of more than 391 km². Bankers has the intention to acquire interests in additional concessions. All existing concessions were obtained as new grants or through reputable DRC partners and have clean title with no government involvement, making Bankers one of the few, and perhaps only, junior public mining company in the DRC to have 26 concessions capable of being currently explored and developed. Bankers has an experienced operations team in the southern Copperbelt of the DRC. Bankers believes it is one of the front-runners in advancing cobalt and copper exploration by a junior mining company in the DRC.
ON BEHALF OF THE BOARD OF BANKERS COBALT CORP.
President & CEO.
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This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction, the proposed closing the Transaction, and the outlook of the business of Katanga, including whether Katanga will be successful in developing and selling mineral resources. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction and associated transactions, that the ultimate terms of the Transaction and associated transactions will differ from those that currently are contemplated, and that the Transaction and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on the Corporation’s due diligence and the receipt of tax, corporate and securities law advice for both the Corporation and Katanga. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation, Katanga, their securities, or their respective financial or operating results (as applicable).