Magma Silver Corp. — Capital/Financing Update 2020

Aug 21, 2020

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BANKERS PROPOSES TO CHANGE ITS NAME TO CENTRAL AFRICAN GOLD INC.

Vancouver, British Columbia - (August 20, 2020) – Bankers Cobalt Corp. (TSXV: BANC; FSE: BC21; OTCQB: NDEND) (the “ Corporation ” or “ Bankers ”) is pleased to announce that it intends to change its name to “ Central African Gold Inc. ” and its trading symbol to “ CAGR ”. The name and trading symbol changes are expected to be effective on the TSX Venture Exchange (“ TSXV ”) on or about August 25, 2020 and remain subject to TSXV approval.

In connection with the name and trading symbol changes, each current share certificate evidencing common shares of the Corporation will continue to evidence the common shares of Central African Gold Inc., without any requirement from the shareholders of the Corporation to transfer their shares into the new name or to take any other action. No consolidation of capital occurred in connection with the name change. The new CUSIP number for the common shares of Central African Gold Inc. will be 152376109.

About Bankers

Bankers is a natural resource company with a primary focus on the acquisition, exploration, development and operation of mineral projects in the Democratic Republic of the Congo (“ DRC ”). Bankers currently holds rights to nine mineral projects strategically located in the southern DRC CopperBelt. Bankers has the intention to acquire interests in additional concessions or relinquish concessions in the normal course of business. Bankers has an experienced management team currently located in the southern CopperBelt of the DRC.

For further information, please contact: Stephen Barley, Chairman & CEO Phone: (604-834-2968) Email: info@bankerscobalt.com Website: www.bankerscobalt.com

Reader Advisory

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

This news release contains “forward-looking information” within the meaning of applicable securities laws including, but not limited to, statements relating to the Corporation’s change of name or change of trading symbol. Although the Corporation believes considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forwardlooking information are reasonable, undue reliance should not be placed on them as the Corporation can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation its securities, or its financial or operating results.

Bankers Cobalt Corp |Suite 1080, 789 West Pender Street, Vancouver, B.C., Canada, V6C 1H2

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