First Cobalt Announces Director DSU Grant

TORONTO, Jan. 1, 2020 - First Cobalt Corp. (TSX-V: FCC; OTCQX: FTSSF) (the "Company") announced today that in connection with services rendered for the quarter ended December 31, 2019, the Company has issued 326,657 Deferred Share Units (DSUs) to directors. In accordance with the Company's Amended and Restated Long-Term Incentive Plan, the DSUs were priced based on yesterday's closing price of the Company's common shares on the TSX Venture Exchange. DSUs align the interests of Company directors with shareholders as DSUs vest immediately but may not be exercised until a director ceases to serve on the Board.

About First Cobalt

First Cobalt is a North American cobalt company and owner of the only permitted primary cobalt refinery in North America. The Company is exploring a restart of the First Cobalt Refinery in Ontario, Canada, which could produce over 25,000 tonnes of cobalt sulfate per year from third party feed. First Cobalt's main cobalt exploration project is the Iron Creek Cobalt Project in Idaho, USA, which has an inferred mineral resource estimate available on the Company's website. The Company also controls a significant land package in the Canadian Cobalt Camp spanning over 100 km², which contains more than 50 past producing mines.

On behalf of First Cobalt Corp.

Trent Mell
President & Chief Executive Officer

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

SOURCE First Cobalt Corp.