Global Cobalt Corp. announced that the lease agreement made with Chester Mining Company for the Iron Creek Project as announced on October 6, 2014 has been terminated clearing the path for Global Energy Metals Corporation. Upon the successful completion of the Spin-Out Transaction, Global Energy will now have the right to enter into a new agreement with Chester Mining to acquire Iron Creek, a prospective cobalt property in the Idaho Cobalt Belt Trend located in close proximity to Salmon Idaho.