M2 Cobalt to Seek Shareholder Approval for Finalization of Merger with Jervois at Meeting on June 14th

Vancouver, British Columbia--(Newsfile Corp. - May 22, 2019) - M2 Cobalt Corp. (TSXV: MC) (the "Company") is pleased to announce that it will seek approval for its proposed merger with Jervois Mining Ltd. ("Jervois") at a special meeting of shareholders to be held on June 14th, 2019 at Suite 2200, 885 West Georgia Street, Vancouver, British Columbia, V6C 3E8 at 9:00 a.m. (Pacific time). In connection with the meeting, the Company has prepared and mailed a management information circular which describes the proposed merger with Jervois and the expected business of the Company following completion of the merger, and which includes a summary of the preliminary economic assessment, prepared in accordance with National Instrument 43-101, for Jervois' wholly-owned Nico-Young Nickel-Cobalt Project in New South Wales, Australia.

A copy of the management information circular has been mailed to shareholders of record as of May 10, 2019. The circular, and the preliminary economic assessment on the Nico-Young Nickel-Cobalt Project, are also available for review under the Company's profile on SEDAR (www.sedar.com) and on the Company's website at (www.m2cobalt.com).

The Company is also pleased to announce that Jervois has received conditional approval of the TSX Venture Exchange (the "Exchange") to list its ordinary shares as a Tier 1 Mining Issuer, following completion of the merger. It is anticipated that Jervois' ordinary shares will trade on the Exchange under the ticker symbol "JRV".

Completion of the merger with Jervois remains subject to customary closing conditions, including the receipt of the approval of the shareholders of the Company at the meeting to be held on June 14th, 2019, as well as the final approval of the Supreme Court of British Columbia and the Exchange. The listing of Jervois on the Exchange remains subject to completion of the merger, and the satisfaction of customary conditions and filing requirements imposed by the Exchange.

For further information regarding the merger of the Company and Jervois, readers are encouraged to contact Simon Clarke at sclarke@m2cobalt.com or Andy Edelmeier at andy@m2cobalt.com

On behalf of the Board,

Simon Clarke, 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.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to completion of the merger with Jervois, the reliability of third party information, and certain other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

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