Pacific Rim Cobalt Successfully Completes Phase 1 Nickel/Cobalt Process Recovery Program

Results indicate:

• Strong leach recoveries
• Production of high-quality nickel and cobalt solutions
• Ability to produce high purity nickel and cobalt products

VANCOUVER, British Columbia, Oct. 28, 2019 -- Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”) (CSE: BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE) is pleased to announce final results from the recently completed detailed recovery process bench scale test program. The test program is being conducted by a extractive technology and mineral process development partner (“Process Research ORTECH Inc.” - PRO) for the selection of a suitable process for recovery of nickel and cobalt from laterite material.

Critical Results:

• The solution quality of the nickel bearing pregnant strip solution indicates an estimate of the NiCO₃ product quality of >99.9% NiCO₃ requiring only a single stage purification process.
• The solution quality of the cobalt pregnant strip solution indicates that an estimate of the CoCO₃ product quality is 98.2% CoCO₃.
• In the next stage of development, our partner Process Research ORTECH Inc. is confident of improving CoCO₃ purity to greater than 99.9%_.

The aim of the program is to assess the amenability of the Partner’s proprietary mixed chloride leach and solvent extraction separation technology on laterite samples from the Company’s Cyclops project in Indonesia for the production of high purity nickel and cobalt products and obtain design and operating data for the pilot plant testing phase.

"The Company is very pleased with this latest round of results and look forward to continued progress. We are optimistic about the unique possibility of developing this project into an asset that will add shareholder value," remarked Ranjeet Sundher, President and Chief Executive Officer of Pacific Rim Cobalt.

Samples were leached using the Partner’s proprietary mixed chloride technology, i.e., the mixture of hydrochloric acid (HCl) and magnesium chloride (MgCl₂). Results of the leach tests showed that the mixed chloride leach technology was effective in the recovery of value elements, namely nickel, and cobalt from the three laterite samples tested.

Detailed leach testing was performed to optimize the recovery of nickel, cobalt and iron from representative samples of 3 laterite types:

• limonite
• low iron transition
• saprolite

The leach conditions were established for the three samples and the results indicate the following recoveries:

Follow up detailed solvent extraction (SX) testing was performed to examine the separation of nickel, cobalt, and iron from the leach solution produced from each sample. Pregnant strip solutions for nickel and cobalt were produced from the SX samples.

The preliminary design criteria for the leaching and solvent extraction process has now been established and this combined with other data obtained from the study will be used for subsequent pilot plant testing to be conducted in the next phase.

This phase of the program will involve the commissioning and operation of a pilot plant incorporating an integrated circuit to produce high purity nickel and cobalt strip solutions in order to develop battery grade Nickel and Cobalt products that meet market specifications.

This plant will also provide operational data for development of CAPEX and OPEX estimations for a demonstration plant and a produce enough nickel and cobalt-bearing product for independent evaluation by prospective battery industry purchasers.

The latest results are part of an integrated program being implemented by the Company to develop a critical path for processing nickel and cobalt laterites. The Development Program consists of the following components:

• Evaluation of process technology
• Process feasibility studies
• Design, construction and operation of pilot plant
• Design, construction and operation of demonstration scale plant

Upcoming development includes the following:

Pilot Plant

• Location Canada
• Produce high purity strip solutions suitable for production of nickel and cobalt MHP and nickel and cobalt sulphates
• Establish design criteria for a demonstration plant
• Produce nickel and cobalt products meeting market specifications
• Ensure tailings and effluents meet environmental guidelines

Demonstration plant

• Location Indonesia
• Evaluation of technical and economic aspects of a commercial scale plant
• Demonstrate ability to produce a product within market specifications
• Provide product for market evaluation
• Establish security of long-term product supply through optimum plant availability
• Establish design criteria for a commercial scale plant

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. Garry Clark, PGeo, independent director of Pacific Rim Cobalt and a Qualified Person as defined by National Instrument 43-101.

About Pacific Rim Cobalt

Pacific Rim Cobalt is a Canadian‐based exploration company focused on the acquisition and development of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion battery industry. Visit https://pacificrimcobalt.com/ to find out more.

Pacific Rim Cobalt Corp.

Ranjeet Sundher – President and CEO
(604) 922-8272
rsundher@pacificrimcobalt.com

Steve Vanry – CFO & Director
(604) 922-8272
steve@vanrycap.com

Sean Bromley – Director & Investor Contact
(778) 985-8934
sbromley@investfortuna.com

Reader Advisory

This news release may contain statements which constitute “forward-looking information” that are subject to risks and uncertainties. All statements herein, other than statements of historical fact, are to be considered forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company and with respect to the results of exploration and prospective plans in regards to the Cyclops project. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Information provided in this document is necessarily summarized and may not contain all available material information. Although Pacific Rim Cobalt has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, success of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.