VANCOUVER, BC (DECEMBER 16TH, 2013)...GLOBAL COBALT CORP. (TSXV:GCO) ("Global Cobalt" and/or the "Company") (TSXV:GCO) is pleased to announce a non-brokered private placement financing of for CAD $2,000,000.

The non-brokered private placement will consist of the Company issuing up to 10,000,000 units (the "Units") at a price of $0.20 per Unit, at a premium to the volume weighted moving average. Each Unit will consist of one common share and one-half common share purchase warrant ("Half-Warrant"). Each two transferable "Half-Warrants" (a "Warrant) will entitle the holder to acquire an additional common share at a price of $0.35 per share for a period of 36 months from the date of closing.

The expiry of the Warrants can be accelerated at any time prior to the expiry of the Warrants if on any 20 consecutive Trading Days occurring after four months and one day has elapsed following the Closing Date the closing sales price of the Common Shares is greater than $0.45, the Company may, at its sole option, accelerate the expiry date of the Warrants to the 30th day after the date on which the Company gives notice to all the Subscribers in accordance with the Warrant of such acceleration.

Proceeds of the financing will be used for Karakul exploration and general working capital.

In connection with the Offering, the Company may pay finder's fees to arm's-length third parties consisting of: (i) cash commission of up to 6% of the gross proceeds of the Offering; and (ii) broker warrants ("Broker Warrants") in an amount up to 6% of the total number of Units under the Offering. Each Broker Warrant will expire 36 months from the date of issue (the "Broker Warrant Expiry Date") and will entitle the holder thereof to purchase one Unit of the Company at a price of $0.35 per Unit at any time up until the Broker Warrant Expiry Date.

The securities issued in the private placement will be subject to a hold period of four months plus one day following the issue date, under applicable Canadian securities legislation.

The private placement is subject to TSX Venture Exchange approval.

Global Cobalt Corporation:

Global Cobalt Corporation is a Canada-based strategic metals company focused on the development of a new mining region in the Republic of Altai. Global Cobalt will build upon the success of the Altai Projects while aggressively expanding and exploring existing properties to meet the demand for cobalt and other strategic metals.

For Further Information:

Mr. Mitchell Smith, Corporate Development

Suite 1510-1050 West Pender Street

Vancouver, BC V6E 3T4

Tel: +1 (604) 688-4219

Fax: +1 (604) 688-4215

Email: info@globalcobaltcorp.com

www.GlobalCobaltCorp.com

TSXV:GCO; FRA:3P0; CUSIP:37890F

Cautionary Statement on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The shares offered will not be and have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.