Doubleview's Hat Deposit Emerges as Major Cobalt Opportunity Amid Updated Resource Assessment

Doubleview Gold Corp. (TSXV: DBG; OTCQB: DBLVF; FSE: A1W038) is positioning itself at the forefront of Canada’s critical minerals landscape with the Hat Polymetallic Deposit, a northwestern British Columbia project that could reshape domestic cobalt supply dynamics. As the company advances updated Mineral Resource Estimate (MRE) and Preliminary Economic Assessment (PEA) evaluations, fresh details on the deposit’s cobalt component underscore its potential significance.

The Cobalt Case: Why Western Supply Matters

Cobalt has become a strategic priority for Western governments. Designated as critical by Canada, the United States, European Union, Australia, Japan, and the United Kingdom, this metal is indispensable for lithium-ion battery production, aerospace superalloys, and renewable energy infrastructure including wind turbines, fuel cells, and grid-storage technologies.

The supply picture reveals vulnerability: over 70% of refined cobalt passes through China’s processing facilities, while roughly 80% of mine production concentrates in the Democratic Republic of Congo. This dependency has prompted governments and industry players to actively pursue diversified, ethical, and traceable supply chains. Canada currently supplies only minimal cobalt as a by-product, making domestically-sourced alternatives increasingly valuable.

Hat Deposit’s Resource Scale

The Hat Deposit’s resource definition, released July 25, 2024, showcases an alkalic porphyry system hosting copper, gold, cobalt, and scandium mineralization. The cobalt inventory stands as follows:

Indicated Resource: 150 million tonnes averaging 0.008% cobalt, containing approximately 28 million pounds (12,700 tonnes) of cobalt

Inferred Resource: 477 million tonnes averaging 0.009% cobalt, containing approximately 91 million pounds (41,300 tonnes) of cobalt

In aggregate, the Hat Deposit may represent one of Canada’s largest undeveloped cobalt inventories associated with a single mineral deposit. Cobalt is uniformly distributed throughout the mineralized system alongside primary value drivers copper and gold, plus silver and scandium.

Processing Advantages and Development Path

Metallurgical research indicates that cobalt efficiently liberates into a clean pyrite concentrate suitable for conventional downstream processing. Additional testwork is ongoing, but preliminary results suggest processing feasibility.

Farshad Shirvani, President & CEO, framed the deposit’s broader significance: “Copper, gold, and scandium remain the primary economic drivers at Hat, but cobalt represents a meaningful addition to the project’s critical-minerals profile. As global demand for secure, responsibly-sourced battery metals strengthens, Hat’s Tier-1 Canadian jurisdiction and substantial cobalt endowment reinforce its strategic importance. Our updated MRE and advancing PEA will evaluate cobalt alongside other metal contributors within a comprehensive economic framework.”

Market Context for DBG Markets

The convergence of supply constraints, geopolitical considerations, and energy transition demands creates a favorable backdrop for projects like Hat. Unlike speculative ventures, Hat carries demonstrated mineral resources and metallurgical confirmation. While mineral resources remain distinct from mineral reserves and lack demonstrated economic viability at this stage, the project’s scale and location position it favorably should development proceed through requisite evaluation stages.

Additional Resource Potential

Beyond cobalt, the Hat Deposit hosts a scandium exploration target of 300-500 million tonnes averaging approximately 40 ppm (0.004%) Sc₂O₃. Although preliminary and conceptual in nature, this multi-metal character expands the project’s value proposition.

Doubleview’s updated MRE and PEA are expected before year-end 2025, representing the next critical milestone in Hat’s evaluation trajectory.

Qualified Person: Erik Ostensoe, P.Geo., a consulting geologist and Doubleview’s Qualified Person under NI 43-101 standards, has reviewed this disclosure.