QUARTERLY ACTIVITIES AND CASHFLOW REPORT (31 DECEMBER 2018)

Snettisham Vanadium Project - Alaska

• Northern Cobalt has staked 48 mineral claims over a substantial vanadium project in south-western Alaska 50km south of Juneau on the coast
• The Company was able to acquire 100% of the project by simply pegging the ground, resulting in a very low-cost acquisition
• Historical samples of magnetite rich rock chips show potentital for high grade vanadium with values up to 0.56 V2O5. These values are expected to increase significantly in magnetite concentrates.
• Key infrasturcture requirements are already in place
• The Snettisham Hydroelectric Power Plant is sited 18 km to the north-west and the main transmission line runs within 2.5 km of the project
• The project is located on the coast, adjacent to a deep water channel capable of hosting Panamax and Cape class vessels

Running Creek Copper-Cobalt Project – Wollogorang Cobalt Project

• Much higher cobalt values reported from assays compared with pXRF field results (280%), including 5m @ 1604 ppm Co from 20m (18RAB123)

• Assays at Running Creek Prospect confirm copper from surface to the end of hole at 55m, highlights;

o 55m @ 0.78% Cu from 0m (hole 18RAB102),o including 33m @ 1.08% Cu from 11m,
o including 13m @ 2.01% Cu from 11m

o and 12m @ 380 ppm Co from 22m

• This drill hole ends in mineralisation with the last metre assaying 0.37% Cu and 450 ppm Co

• New induced polarisation (IP) survey at Running Creek highlights a chargeable target beneath mineralisation