Peat Resources Limited Engages Better Chain S.L. in Launch of Cobalt Blockchain Project

Toronto (ots/PRNewswire) -

Peat Resources Limited (the "Company") (TSXV: PET) (OTC-PINK:
PEATF) is pleased to announce that it has engaged Better Chain S.L.
("BetterChain") in the launch of the Company's project to provide a
blockchain-based platform to demonstrate compliance of cobalt and
other minerals (the "Cobalt Blockchain Project") with international
standards on responsible procurement.

"Manufacturers and end-users are increasingly demanding more
transparency on the origin of minerals to ensure compliance with
international standards and that all materials procured are conflict-
and child-labour-free," said Lance Hooper, President and Chief
Operating Officer of the Company. "To help meet these demands we are
pleased to welcome Benjamin and his team to the Cobalt Blockchain
Project. Their wealth of experience will add immense value to our
efforts in developing an integrated platform for mineral supply
chains with an immediate focus on unlocking the potential of
ethically-sourced cobalt from the DRC."

BetterChain is a Spanish company headquartered in Barcelona. Its
principals are experts in the design of innovative solutions to
encourage responsible procurement practices, with unique experience
in conflict-free assurance for tin, tantalum, tungsten and gold
supply chains. They maintain a strong local network in the Democratic
Republic of the Congo (DRC) and among other mineral supply chain
stakeholders.

BetterChain will support the Company in establishing an integrated
due diligence program for the cobalt supply chain, from the mining
assets being developed by the Company all the way to cobalt
end-users. BetterChain founder Benjamin Clair and director Hélène
Helbig de Balzac, as well as the rest of the BetterChain team
assigned to the Company's Cobalt Blockchain Project, will be working
alongside Dr. Samuel Peralta, technology advisor to and a Director of
the Company.

"We are excited to be working on the Cobalt Blockchain Project,"
said Benjamin Clair, Managing Director of BetterChain. "This is a
remarkable opportunity to promote local due diligence efforts and
provide further assurance to end-users. This project can serve as a
blueprint for end-to-end supply chain reporting for all minerals."

The initial phase of the Cobalt Blockchain Project includes the
identification of local (upstream) data requirements to not only
demonstrate compliance with international standards for responsible
procurement of minerals but also generate value for international
(downstream) supply chain participants and investors, in order to
facilitate financial engagement at the mine level. The Company is in
active discussions with participants at all levels in the cobalt
supply chain to form a broad-based coalition to help define these
requirements.

Platform Architecture

Upstream due diligence information and certification will be made
available on a blockchain-based platform for permissioned access by
subsequent supply chain participants. This will improve transparency
and demonstrate to international stakeholders that the Company's
metals are sourced and traded in accordance with recommendations from
the Organisation for Economic Co-operation and Development (OECD) Due
Diligence Guidance for Responsible Supply Chains of Minerals from
Conflict-Affected and High-Risk Areas-the reference framework
endorsed by regulators and industry groups.

The platform is initially being planned around Ethereum, an
established blockchain, but with flexibility to migrate to other
frameworks such as Stellar or EOS to account for the rapidly-evolving
technological landscape, and maximize scalability potential. Between
mine and export, a range of tools are being considered to report on
the chain of custody, including digitization of mineral certification
tags via Near Field Communication ("NFC"), Quick Response ("QR")
code, or Radio Frequency Identification ("RFID"), if necessary in
conjunction with other blockchain protocols that integrate such
input. The final design of local data collection and reporting
solutions will integrate feedback from all key stakeholders.

Annual General Meeting

In line with this project, the Company is seeking a shareholder
resolution at its annual and special meeting on March 13, 2018, as
detailed in its recent Information Circular available on SEDAR, to
approve the name change of the Company to "Cobalt Blockchain Inc." or
such other name as the board of directors of the Company may
determine and that is acceptable to the TSX Venture Exchange and
applicable regulatory authorities.

Attendance at PDAC 2018

Peat Resources Limited will be attending the Prospectors &
Developers Association of Canada 2018 International Convention at the
Metro Convention Centre in Toronto, Canada. Members of the Board and
Management team will be available to discuss the Cobalt Blockchain
project from Sunday, March 4th to Wednesday, March 7th. Please
contact Lance Hooper (info@peatresources.net) to arrange a meeting
with the company.

About Peat Resources Limited

Peat Resources Limited is a Canadian resource company expanding
its exploration and development business to include interests in
cobalt and other mineral assets, with existing licenses for
conflict-free mineral and metals provisioning in the DRC, and
exploring distributed ledger technology-based certification to ensure
a socially-responsible cobalt supply chain with the Cobalt Blockchain
project. Senior management have over twelve years of experience
working in the DRC and have a proven international track record in
exploration success and the trading of certified conflict-free
minerals.

About Better Chain S.L.

Better Chain S.L. aims to secure sustainable funding channels for
upstream mineral supply chain due diligence, in a context where costs
associated with responsible procurement expectations are
fundamentally passed through to mining companies and communities. The
BetterChain framework is designed for mineral / metal end-users to
incentivize transparent provision of local information that is
relevant to their own compliance and communication activities.

Forward-Looking Information

This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future production,
reserve potential, exploration drilling, exploitation activities and
events or developments that the Company expects are forward-looking
statements. Although the Company believes the expectations expressed
in such statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
statements. There are certain factors that could cause actual results
to differ materially from those in forward-looking statements. These
include market prices, exploitation and exploration successes,
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and
actual results or developments may differ materially from those
projected in the forward-looking statements. For more information on
the Company, investors should review registered filings at
http://www.sedar.com.

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

Peat Resources Limited:Lance Hooper, President & COO,Telephone:
(416) 500-3670, Email: info@peatresources.net, Website:
http://www.peatresources.net

ots Originaltext: Peat Resources Limited
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