Nickel

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESThe second half of the Phase 1 drill program on the Langmuir Nickel Project included:EV21-09 intersects 15.7 metres grading 1.14% Ni on eastern margin of W4EV21-01 intersection extended to 19.5 metres grading 0.96% NiThese results now confirm nickel sulphide mineralization to the east and west of the W4 ZonePhase 2 drilling starts now, on ...

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

  • The second half of the Phase 1 drill program on the Langmuir Nickel Project included:
    • EV21-09 intersects 15.7 metres grading 1.14% Ni on eastern margin of W4
    • EV21-01 intersection extended to 19.5 metres grading 0.96% Ni
  • These results now confirm nickel sulphide mineralization to the east and west of the W4 Zone
  • Phase 2 drilling starts now, on additional high priority targets, full details of the plan to be released next week

EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to report the assay results for the full Phase 1 drill program on the Langmuir Nickel Project ("Langmuir" or the "Property"). Building off of the first half results shared in December (see December 8, 2021 News Release), Rogue continues to identify high-grade mineralization along trend of the W4 Zone

Phase 1 focussed within and proximal to the W4 Zone and was designed to test gaps within the historic drilling, provide representative intersections of the mineralization and test the favourable ultramafic horizon to the east and west of the W4 mineralization. Phase 1 totalled 20 holes, comprising 4,192 metres of diamond drilling.

Hole EV21-09 intersected 15.7 metres grading 1.14% Ni starting at a drill depth of 123.30 metres, testing an area along the eastern boundary of the W4 Zone, outside of the previously identified nickel mineralization from the historic exploration. Hole EV21-09 represents a significant, near surface intercept demonstrating potential to expand the known mineralization along the edges and at depth in the W4 Zone.

A short drill interval of nickel sulphide mineralization identified in EV21-14, approximately 85 metres west of the interpreted western boundary of the W4 Zone, indicates that the stratigraphic horizon hosting the W4 Zone continues to be a fertile geological sequence with the potential to host additional nickel sulphide mineralization. This favourable stratigraphic horizon will form a portion of the planned diamond drilling in the Phase 2 program.

"The strong results of the Phase 1 drill program confirmed the potential of the Langmuir Project to host high grade, high nickel tenor, near surface nickel sulphide mineralization." states Paul Davis, EVNi's Vice President of Exploration. "The intersection of nickel sulphide mineralization to the west of the W4 Zone indicates that the komatiitic ultramafic sequence associated with the W4 Zone, both to the east and west of the observed mineralized zone, remains sulphide saturated with the potential to host additional nickel sulphide zones that will be explored during the Phase 2 drill program."

"Our first priority at EV Nickel is finding more nickel at Langmuir and this confirmation of the mineralization to the east and west of W4 starts us down that path," said Sean Samson, President & CEO of EVNi.

The complete results of the Phase 1 drill program are included in Table 1 (second half results in bold):

Detailed location and depth details of the Phase 1 drill program are in Table 2 and are plotted on Figure 1.

Upcoming Release of Drilling Information

EVNI plans to provide the full details of the Phase 2 drilling plan next week.

Assay QA/QC

Drill core samples from the 2021 drill program at the Langmuir Project are cut and bagged at the core logging facility located near the property and transported to ALS Canada Ltd for analysis. Samples, along with certified standards and blanks that are included by the Company for quality assurance and quality control, were prepared and analyzed at the laboratory. Samples are crushed to 70% less than 2mm. A riffle split is pulverized to 85% passing 75 microns. Nickel, copper, cobalt and sulphur are analyzed by sodium peroxide fusion with an ICP finish and platinum, palladium and gold by fire assay and ICP-AES finish. These and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.

About EV Nickel Inc.

EV Nickel's mission is to accelerate the transition to clean energy. It is a Canadian nickel exploration company, focussed on the Shaw Dome area, south of Timmins, Ontario. The Shaw Dome area is home to its Langmuir project which includes W4, the basis of a 2010 historical estimate of 677K tonnes @ 1.00% Ni, ~15M lbs of Class 1 Nickel. EV Nickel plans to grow and advance a nickel business, targeting the growing demand for Class 1 Nickel, from the electric vehicle battery sector. EV Nickel has almost 9,100 hectares to explore across the Shaw Dome and has identified 30km of additional favourable strike length.

Qualified Person

The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

Cautionary Note Regarding the Langmuir project's 2010 historical estimate:

Historical mineral resources for Langmuir were estimated by SRK Consulting (Canada) Inc., as documented in a report entitled, "Golden Chalice Resources Inc., Mineral Resource Evaluation, Langmuir W4 Project, Ontario, Canada", dated June 28, 2010 (the "Historical Report"). A qualified person, as defined by NI 43-101, has not done sufficient work to verify the historical assay results and technical information reported herein. The Company is not treating the Historical Report as current. The reader is cautioned not to rely upon any of the Historical Report, or the estimates therein. The historical estimates are presented herein as geological information only, as a guide to follow-up technical work, and for targeting of confirmation and exploration drilling.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking information. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Any such forward-looking information may be identified by words such as "proposed", "expects", "intends", "may", "will", and similar expressions. Forward-looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although EV Nickel believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, changes in business plans and strategies, market conditions, share price, best use of available cash, the ability of the Company to raise sufficient capital to fund its obligations under various contractual arrangements, to maintain its mineral tenures and concessions in good standing, and to explore and develop its projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associated with mineral exploration, future prices of metals and other commodities, environmental challenges and risks, the Company's ability to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company's plans and business objectives, changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with such laws and regulations, the Company's ability to obtain required shareholder or regulatory approvals, dependence on key management personnel, natural disasters and global pandemics, including COVID-19 and general competition in the mining industry. These risks, as well as others, could cause actual results and events to vary significantly. The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of EV Nickel based on information currently available to the Company. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or expressly qualified by this cautionary statement.

Contact Information
For further information, visit www.evnickel.com

Or contact: Sean Samson, Chief Executive Officer at info@evnickel.com.
EV Nickel Inc.
200 - 150 King St. W,
Toronto, ON M5H 1J9www.evnickel.com

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

SOURCE: EV Nickel Inc.



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EV Nickel


Overview

In 2022, analysts are predicting that nickel prices will remain strong or at high levels despite a rocky first half of 2021. Driving this demand is predominantly stainless steel, with electric vehicle batteries continuing to pick up pace. However, not all nickel is created equal when it comes to batteries. The only type qualified for use in electric vehicle batteries is Class 1 nickel, which is usually found in sulfide deposits and has a much higher nickel content.


Given the attractiveness of nickel sulfide, attention is focusing on new and potential nickel sulfide deposits. Timmins in Ontario, Canada, is a world-class mining camp primarily known for gold, but recently, Canada Nickel (TSXV:CNC) announced that it could potentially expand a district-scale nickel sulfide deposit north of the city.
EV Nickel Timmins

Twenty-five kilometers southeast of Timmins, EV Nickel (TSXV:EVNI) is looking to fill the huge demand for the base metal. The company’s prospective Langmuir Nickel project is a high-grade nickel sulfide project with a historical resource with 30 kilometers of additional strike length on the property. EV Nickel boasts a significant land package of approximately 9,100 hectares that is strategically located in the Shaw Dome, near multiple nickel end users, including Tesla (NASDAQ:TSLA), Detroit Peers, NIO (NYSE:NIO), SBE Canada and Rivian Automotive (NASDAQ:RIVN).

EV Nickel Neighbour Properties

The Langmuir Nickel project is located in the Shaw Dome, a prospective nickel belt region that bears a strong resemblance to the Kambalda Dome in Western Australia that mined ~51Mt grading 3.1 percent nickel from 1968 to 2020. The Shaw Dome hosts Kambalda-style nickel sulfide mineralization occurring in ultramafic flows and sills. Eighty square kilometers of historical, favorable komatiitic units are found within EV Nickel’s property.

The company is fully focused on three fronts: to find more nickel at Langmuir, secure more land in the Shaw Dome and create a Clean Nickel™ business.

Company Highlights

  • EV Nickel’s Langmuir Nickel project near Timmins, Ontario has a historical indicated resource in the W4 Zone of 677,000 tons at grades of 1.00 percent nickel and 0.06 percent copper from 2010.
  • The project is near multiple nickel end-users, including Tesla.
  • The project also has a historical inferred resource of 171,000 tons at grades of 0.91 percent nickel and 0.06 percent copper.
  • The geology found in Shaw Dome has a strong resemblance to Western Australia’s Kambalda Dome that produced ~51Mt from 1968 to 2020.
  • Inguagrual drill program at the Langmuir Nickel Project produced Extremely high-grade nickel associated with W4 Zone including 8.66 percent Ni over 1.11 metres in hole EV21-01

Key Project

Langmuir Nickel

EV Nickel Langmuir Nickel

The Langmuir Nickel project is a prospective and high-grade nickel located in the Shaw Dome in Ontario, Canada. The project is located approximately twenty five kilometers from Timmins, an established mining camp with clean hydroelectric power. The property spans 9,100 hectares, including 30 kilometers of identified strike length. The Langmuir Nickel project has access to power lines and a road with proximity to multiple nickel end-users, including Tesla (NASDAQ:TSLA), Detroit peers, NIO Inc. (NYSE:NIO), SBE Canada Ltd. and Rivian Automotive Inc. (NASDAQ:RIVN).

EV Nickel Assay Results

EV Nickel released assay results from its initial drilling program in December 2021, and plans for 2022 include continuing drilling, conducting metallurgical testing and identifying a resource.

Historical mineral resources for the Langmuir Nickel Property:

EV Nickel Historical Mineral Resources

EV Nickel has applied for the trademark Clean Nickel™ across several jurisdictions as a step towards the company’s commitment to develop zero-carbon production of Nickel. Clean Nickel™ refers to zero-carbon production and this is central to the business EVNi intends to develop on the Shaw Dome.

Management Team

Sean Samson - President, CEO and Director

Sean Samson is a mining executive with more than 20 years of management and financial experience. Most recently, he was the vice president and head of corporate development at FNI Mining for four years. At FNI Mining, he spent six months as interim COO in which he was responsible for safety, mine development and operations at a 250-person underground mine near Sudbury, Ontario. In 2012, he won the Canadian Young Mining Leader award from the CIM. Before FNI, he was the vice president of commercial development at Kinross Gold Corporation for five years. At Kinross Gold Corp., he had diverse, multi-functional responsibilities, including supply chain, energy, merger integration, enterprise risk and capital approvals. Samson led a team of more than 300 people across eight countries at Kinross Gold Corp. Before Kinross Gold Corp., he was a management consultant at Bain & Company and he traded for investment banks in New York and Europe. Samson received an A.B. from Harvard University and an MBA from Cambridge University. He has also completed his Surface Miner Common Core in Ontario. He is a past elected PDAC board member and a Cleantech advisor at MaRS which is a Toronto-based Innovation Centre.

Travis Gingras - CFO

Travis Gingras has more than 20 years of experience in finance, strategic planning, project management, accounting policy and financial reporting. Gingras previously held CFO and executive-level positions at many publicly-traded exploration and mining companies, including the CFO of Integra Gold Corp (formerly TSXV:ICG, purchased by Eldorado Gold in 2017). Gingras is a CPA, CMA and received his Bachelor of Commerce and MBA from UBC.

Paul Davis - Vice President of Exploration

Paul Davis has over 30 years of executive, exploration and mine management experience for large multinational and junior companies. Most recently, Davis was the vice president of exploration at FNI Mining. Throughout his career, he has headed mining and exploration teams in the discovery, development and mining of projects in Canada, Finland, Australia and Peru. Davis had several responsibilities, including scoping and feasibility studies, project and mine permitting, environmental compliance and reporting, off-take and acquisition agreement negotiation, due diligence analysis and economic models. Davis also has direct experience in other corporate functions including budgeting, financing, investor relations and regulatory reporting and compliance. Davis graduated from the University of Western Ontario with a Bachelor of Science in Honors Geology and from the University of Alabama with a Master of Science in Economic Geology.

Mike Silver - Director of Business Development

Mike Silver has more than 15 years of experience in finance and investment banking. Silver has worked in executive roles at Canadian and foreign banks and brokers. Silver has extensive transaction experience and contacts across the mining business/ Silver graduated from Dalhousie University with a Bachelor of Commerce and from RSM Erasmus with an MBA.

Linda Byron - Director

Linda Byron owns Blue Heron Environmental which is based in Timmins. Byron is a professional environmental scientist with more than 30 years of experience. She has been instrumental in the implementation of certified environmental management systems at large base-metal mining companies in Northern Ontario. Byron also assisted industries with permitting efforts as well as the development and implementation of compliance and training programs for mining operations in Canada and abroad. Byron has extensive operational expertise in practical and real-life environmental issues encountered in the mining industry. She graduated from Laurentian University with an Honors Bachelor of Science.

Michael Fox - Director

Michael Fox is president of Indigenous Community Engagement which is based in Fort William First Nation in northwestern Ontario. Fox has dedicated his career to building Aboriginal participation and partnerships. He obtained an honors degree in Political Science with a focus on Aboriginal Law & Resource Development from Lakehead University and an MBA from the University of Fredericton. Fox is a past elected PDAC board member and is originally from Weenusk First Nation.

Gadi Levin - Director

Gadi Levin has been an officer and director of many publicly-traded Canadian resource companies. He began his career in public accounting at Arthur Anderson and Ernst & Young. Levin is also a certified chartered accountant in South Africa. Levin holds undergraduate degrees from the University of Cape Town and the University of South Africa and an MBA from Bar Ilan University.

Stephen Delaney, Director

Stephen Delaney is a managing director and the head of investment banking at Eight Capital which is an independent Canadian investment dealer. Before joining Eight Capital, he was the managing director of investment banking at Beacon Securities. Before that, he worked at Paradigm Capital and GMP Securities. Delaney holds a Bachelor of Arts from Dalhousie University.

asx evn

EV Nickel Announces High-Grade Nickel Intersections From Langmuir Project

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

  • Extremely high-grade nickel associated with W4 Zone including 8.66% Ni over 1.11 metres in hole EV21-01
  • Very high nickel tenors ranging from 18% to >40% Ni (estimated content of nickel in 100% sulphide) associated with the W4 Zone anticipated to be reflected in concentrate grades when metallurgical testing is initiated
  • Drilling has intersected the mineralized ultramafic unit to the west of the defined boundary of the W4 zone

EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce that exploration drilling on the Langmuir Nickel Project ("Langmuir" of the "Property") from the inaugural drill program with significant intersections from within and along the eastern and western boundaries of the W4 Nickel Zone

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