QUARTERLY ACTIVITIES AND CASHFLOW REPORT (31 JUNE 2019)

Executive summary
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Northern Cobalt has completed an assessment of the potential for iron ore to contribute to the Snettisham Project
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Metallurgical test work from the Snettisham Project (Alaska) demonstrates the potential to produce a high-
grade magnetite product with vanadium credits
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A 63% Fe and 0.64% V2O5 concentrate (DTR) produced from surface samples
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Significantly the recoveries were achieved using a very coarse grind size of 250 microns