Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim Cobalt”) (CSE: BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE) is pleased to announce positive results from mineral process recovery testing on material from its Cyclops nickel-cobalt project as reported by its independent extractive technology and mineral process development partner (the “Partner”).

The first phase of the detailed bench-scale Program has been completed in order to evaluate separation technology on samples of materials from various geological profiles from the company’s Cyclops nickel-cobalt project.

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.

Leach extraction results were as follows:

• Sample 1: Recoveries of nickel and cobalt were 99.2% and 99.3% respectively
• Sample 2: Recoveries of nickel and cobalt were 99.8% and 97% respectively
• Sample 3: Recoveries of nickel and cobalt were 99.8% and >99% respectively

The second phase of this program is now in progress with the preparation of bulk solutions for subsequent solvent extraction tests for the recovery of nickel, cobalt and iron under the conditions established from the phase 1 leach program.

The ultimate aim of the detailed bench-scale work is the:

• Separation of nickel, cobalt and iron by solvent extraction along with a nickel and cobalt product recovery to produce battery-grade metal salts at bench scale
• Provision of data for the commissioning and operation of a pilot plant

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

Program components include the following:

Scoping test program; location Canada – complete

• Confirmed with positive results the amenability of mixed chloride leach technology on 2 samples of Indonesian laterite

Bulk sampling – complete

• Excavation and sampling of test pits from the Company’s Cyclops project resulted in a bulk sample of 285 kg for detail bench-scale work and was air-freighted to Canada

Detailed bench-scale test work – phase 1 complete

• Define optimal leach conditions
• Establish separation of nickel, cobalt and iron via solvent extraction process
• Obtain pregnant solutions for the recovery of nickel, cobalt and iron
• Develop process design criteria for pilot plant

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.