First Cobalt Observes Canada's National Day for Truth and Reconciliation

TORONTO, Sept. 30, 2021 - As a symbol of respect and acknowledgement toward Canada's First Anniversary of the National Day for Truth and Reconciliation, First Cobalt Corp. (TSXV: FCC) (OTCQX: FTSSF) has lowered the symbolic Every Child Matters flag. The flag, flown in front of the Company's hydrometallurgical battery materials refinery in the community of Temiskaming Shores, Ontario will remain lowered for the next 30 days.

The day honors the lost children and survivors of Canadian residential schools, their families and communities. Public commemoration of the tragic and painful history and ongoing impacts of residential schools is a vital component of the reconciliation process.

There were 140 government-run Indian Residential Schools that operated in Canada from 1831 to 1998. Survivors have advocated for recognition, reparations and accountability for the lasting legacy of harms caused. Their efforts culminated in an apology by the Canadian government, the Indian Residential Schools Settlement Agreement, the establishment of a Truth and Reconciliation Commission and the creation of the National Centre for Truth and Reconciliation. The Truth and Reconciliation Commission held hearings from 2008 to 2015, resulting in 94 recommendations, including a National Day of Commemoration.

"We want to acknowledge the importance of inclusivity and collaboration among all peoples. As a corporate entity working within First Nations lands, we are committed to playing an active role in supporting their future. Recognition of the significance of this Day is a start to the reconciliation and healing process we whole-heartedly support", explains President and CEO, Trent Mell.

Since its arrival in Ontario, Canada, First Cobalt has been dedicated to building and maintaining respectful and mutually beneficial relationships with all the local Indigenous people and First Nations communities; namely the Timiskaming First Nation, Temagami First Nation, Matachewan First Nation, Beaverhouse First Nation and Metis Nation of Ontario. Over the past several years, the Company has held numerous consultations and open houses to gain the insights and perspective of these groups. Through collaborative reviews of permit applications for the re-opening of the Company's refinery, support has been gained for the project.

First Cobalt is also committed to employment and potential business opportunities specifically for Indigenous people as the refinery construction activities ramp-up. First Cobalt has partnered with First Nation communities on new initiatives to study potential environmental impacts to plants and wildlife in the refinery area. Student bursaries and community support funding has also been an area of focus thus far.

On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

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SOURCE First Cobalt Corp.