Operations and Corporate Update

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Northern Cobalt wishes to advise it is undergoing a review of all its projects and activities. In line with current market conditions, all non-executive directors have agreed to reduce their board fees by 50%.

The employment contract of the Managing Director, Michael Schwarz, has been terminated in accordance with the terms of that contract.

Yours faithfully

Leonard Dean

Non-executive Chairman

Northern Cobalt Limited

 

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