M2 Cobalt Corp. announced that it has completed the acquisition of a series of seven exploration licenses (the "Licenses") located in the Republic of Uganda spanning approximately 1,564 square kilometers, as well as all of the outstanding share capital of 1126302 B.C. Ltd. The exploration licenses acquired by the Company are comprised of the Bujagali Property which consists of five licenses totalling approximately 1,371 square kilometers and the Kilembe Property which consists of two licenses totalling approximately 193 square kilometers. Following completion of the Transaction, the Company has launched an extensive exploration program to build upon historic work done on the Licenses with the goal of discovering large scale cobalt and related mineral deposits. The program includes: drone flyovers to determine access, culture, outcrops, old workings, gossans by making high-resolution photo mosaics; a large mobile sampling program including the collection of heavy mineral concentrates, stream sediments, soils and rock grab samples as well as concurrent ground geophysics; trenching and drilling as part of bedrock mapping and sampling to help better understand the nature of mineralization and geology and to build upon ongoing results from the program; and, a high-resolution magnetics and electromagnetics helicopter borne airborne geophysical survey which has been commissioned for the Kilembe Property and will commence shortly.

In connection with completion of the Transaction, Thomas Lamb has been appointed as a director of the Company and as Vice-President of Operations. The Company has also appointed Dr. Jennifer Hinton as director of East African operations. Both Mr. Lamb and Dr. Hinton bring extensive experience in structuring exploration-stage projects in Uganda, and bring to the Company a seasoned team of local geologists, mining engineers and in-country personnel. Mr. Lamb fills the vacancy created in the board by the resignation of Michael Kobler. Mr. Kobler will remain with the Company as a technical advisor and will assist the Company in establishing a
technical advisory board to support Management and the Board of Directors with additional expertise in mining and the production of cobalt and associated minerals.