Chilean Cobalt Corp. and Ecobiome Metals, LLC Sign Agreement for Strategic Partnership for Sustainable Cobalt and Copper Extraction

Published

BERWYN, PA / ACCESSWIRE / February 14, 2024 / Chilean Cobalt Corp. (OTCQB:COBA) ("C3" or the "Company"), a US-based and US-listed critical minerals exploration and development company focused on the La Cobaltera cobalt-copper project is pleased to announce the execution of a Memorandum of Understanding ("MOU" or the "Agreement") with EcoBiome Metals, LLC ("EcoBiome"), a Texas-based company. Additionally, the parties have agreed to work together to comprehensively study and solve complex copper and cobalt extraction using sustainable and eco-friendly bio-solutions derived from EcoBiome Metals.

The execution of this MOU follows successful initial bioleaching test work in 2023 performed by EcoBiome at their facility in Houston, Texas. EcoBiome applied their patented Cultured Copper and Cultured Cobalt microbes to several tailings and waste rock samples from the La Cobaltera project area.

The end result in each of the samples was a successful addition of highly functional and effective microbes, which accelerated the cycling and extraction of copper and cobalt metals through an organic and sustainable biological process.

Based on the initial successful laboratory test work, C3 and EcoBiome have elected to formalize their investigative work and to outline an initial test program. This program will broaden EcoBiome's test work to include samples of ore from new greenfield areas of the La Cobaltera project. This area is where C3 has recently completed topographical and aeromagnetic surveys, and is currently designing a follow-up exploration plan to execute later this year.

C3's La Cobaltera exploration program will focus on the north-northwest extensions of known brownfield copper and cobalt-copper oxide resources in the broader San Juan district. Samples taken for this second round of testing will be sent to EcoBiome's facility in Texas and will be analyzed and processed using the company's newly patented EcoBiome Discovery Platform to assess the effectiveness of copper and cobalt bio-extraction using its novel and proprietary Cultured Copper and Cultured Cobalt biotechnology.

Following this second round of test work, C3 and EcoBiome will then discuss mutual interest in pursuing pilot plant development plans, amongst other areas of cooperation.

This follows on previous metallurgical work at La Cobaltera completed by C3, which included chemical and mineralogical characterization followed by column leach test work and bottle roll acid leach test work on the oxide and transition zone samples, and rougher flotation test work on the sulphide samples.

Evaluation of EcoBiome's bioleaching technology would reduce, or potentially eliminate the use of harsh, and often expensive, chemicals during the mining and extraction process. The benefits of applying EcoBiome microbe technology will enable the possible replacement of corrosive and deleterious chemicals with the application and introduction of Organic certified and highly effective biomining microbes for the selective targeting, cycling, and extraction of copper and cobalt from complex ores.

This press release does not constitute an offer or sale of, or the solicitation of an offer to buy, securities of the Company nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Chilean Cobalt Corp.Chilean Cobalt Corp. ("C3") is a US-based and US-listed critical minerals exploration and development company focused on the La Cobaltera cobalt-copper project, located in the past-producing San Juan District in northern Chile, one of the world's few known primary cobalt districts. C3 has a deliberate focus on building a dynamic and sustainable business with an emphasis on applying leading environmental stewardship, social engagement, and corporate governance practices to its strategy.

About EcoBiome Metals, LLCEcoBiome Metals, LLC is a Texas-based biomining and technology company that utilizes and leverages its patented and scientific EcoBiome Discovery Platform™ to customize effective and novel microorganisms for accelerated leaching, extraction, and mining of precious and strategic metals from complex ores.

Safe Harbor StatementThis news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACTS:Chilean Cobalt Corp.Duncan T. BlountChairman & CEODuncan.Blount@chileancobaltcorp.com

SOURCE: Chilean Cobalt Corp.

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