The aim of this research is to study and evaluate the effects of cobalt and nickel additions on heat-treated and thermal-exposed microstructures in cast nickel-base superalloy grades based on GTD-111 with cobalt and nickel modifications. In the study, 1 wt.-% aluminium, as well as various cobalt and nickel contents, was added to all the modified alloy. After standard heat treatment, it was found that increasing the 1 wt.-% aluminium content affected the morphology of gamma prime particles, causing them to become more cuboidal in shape and larger in size. On the other hand, the size of gamma prime in all modified alloys decreased slightly with increasing cobalt contents. However, cobalt and nickel additions did not strongly affect the shape of the gamma prime particles. After long-term exposure at temperatures of 1173 K and 1273 K for 1440 ks, these gamma prime particles were much larger in size than those of heat-treated ones. The higher temperature caused extreme increases in the average size of thermal-exposed gamma prime particles. Also, the gamma prime particles became nearly spherical in shape and had lower coarsening rate with higher cobalt and lower nickel contents. Moreover, the addition of cobalt reduced the coalescence of gamma prime particles. Samples with cobalt content higher than 13.1 wt.-% were able to maintain the cubic shape of the particles even after long-term exposure at a temperature of 1273 K for 1440 ks. No topologically close-packed phase was found in any analyzed specimens.