M2 Cobalt Corp. (TSXV:MC) (the “Company“) is pleased to announce that results from rock and soil samples taken as part of the initial phase of the work program recently launched on its exploration licenses (“Els”) at Bujagali have resulted in the discovery of a new Cobalt (“Co”) and Copper (“Cu”) anomaly delineated by both soil and rock samples (named the ‘Waragi Target’).

 The results of soil and rock samples collected from the Waragi Target have delineated a well-defined cobalt and copper anomaly which is at present approximately 750 metres by 550 metres and open to the North East. Both infill sampling and a grid extension have been completed to better define the anomaly, and to delineate its full extent, with results anticipated shortly. Following which, the Company will move into large-scale trenching and targeted drilling to test mineralization at depth.

 Soil samples which form the anomaly comprise: 56 samples with more than 100 parts per million cobalt (“ppm Co”) including six samples with between 212 and 626 ppm Co; and, 37 samples with more than 100 ppm copper including seven samples with between 160 and 547 ppm Cu. In addition to the soil samples, 23 rock grab samples contain anomalous cobalt (0.11 percent (“%”) Co to 1.24% Co) and, 19 rock samples contain anomalous copper (0.1% to 0.4% Cu). Anomalous rock samples are hydrothermal breccias and altered meta-sediments. Maps providing more details on the results can be found on the Company’s web site: www.m2cobalt.com/index.php/projects/bujagali.