M2 Cobalt Corp. provided an update on its initial phase of exploration in Uganda, where the Company holds 1,564 km2 of exploration licenses ('ELs') highly prospective for cobalt and related minerals. The ELs are in two distinct areas which the Company refers to as Bujagali, located in south-central Uganda, and its Kilembe Properties, which are close to, and on trend with, the historic Kilembe copper-cobalt mine operated by Falconbridge until the 1970s. Subsequently, the crews moved onto EL 1665 at Bujagali, which has significant areas of alteration and where the Company previously carried out rock grab sampling with some samples containing 0.31% Co, 0.17% Cu and 3.5 g/t Au. This EL also adjoins an area where significant historical artisanal gold mining was carried out. The work completed to-date at Bujagali includes: Aerial drone surveys over EL 1665 and EL 1666 to determine access, culture, outcrops, old workings, and other geologic features by making high-resolution photo mosaics. Ground geophysics across EL 1666 (450-line kms), which has better defined geological contacts, important structures and the possible extents of the Bombo Target. The Bombo Target has been interpreted as an ultramafic body, with anomalous nickel, cobalt and copper in soils 'definitely indicative of nickel mineralization' (GTK, 2011). A large mobile sampling program including the collection of heavy mineral concentrates, stream sediments, soils and rock grab samples across EL 1666, with samples being collected from one detailed grid and one regional grid. In total, 1,348 samples have been collected from EL 1666 and sent for analysis at ALS Chemex South Africa (Pty) Ltd. ('ALS'), an independent and fully accredited laboratory in South Africa. A similar sampling program at EL 1665. In total, 1,747 samples have been collected from within EL 1665 and have been sent to ALS for analysis. The Company will receive initial sample results shortly, including in relation to the Bombo Target, and then on an ongoing basis. The Company will build upon real time results as the program unfolds and anomalies and areas of alteration are identified and explored. Once anomalies have been validated, teams will be mobilized to conduct infill sampling, trenching and drilling, as appropriate, concurrent with ongoing exploration across the Company's other ELs. The Company has commenced a high resolution airborne geophysical survey over its Kilembe area ELs. All permits and authorizations are in place and the Company hosted an Official launch for this survey in Kasese Town, Kasese District, Uganda, on March 29, 2018 which was attended by over 150 prominent government officials and community members, including the Minister of Energy and Mineral Development and that Ministry's Permanent Secretary. The event was covered by the country's major media outlets. There is significant ongoing interest in the Company's high-profile program in Uganda, as positive results could have a significant positive impact on the country's mineral sector.