EV Nickel Announces Non-Brokered Private Placement of up to C$2.0 Million

EV Nickel Announces Non-Brokered Private Placement of up to C$2.0 Million

NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for gross proceeds of up to C$2,000,000 from the sale of any combination of flow-through units of the Company (each, a "FT Unit") at a price of C$0.18 per FT Unit and FT Units to be sold to charitable purchasers (each, a "Charity FT Unit") at a price of C$0.24 per Charity FT Unit. The Proceeds of the Offering will be primarily used towards Phase 3 exploration on the Company's Langmuir Project

Each FT Unit and Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.25 for a period of 24 months following the closing date of the Offering.

The Company intends to use the net proceeds raised from the Offering for the exploration of the Company's Shaw Dome Project located south of Timmins in Ontario. Proceeds from the sale of FT Shares will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2022, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.

The FT Shares and Warrant Shares will be subject to a hold period expiring four months and one day from their date of issuance. A finder's fee may be paid on a portion of the proceeds from the Offering. Closing of the Offering is anticipated to occur on or before June 29, 2022 and is subject to customary closing conditions including, but not limited to, the receipt of applicable regulatory approvals, including the approval of the listing of the FT Shares and Warrant Shares on the TSX Venture Exchange.

Finders' fees may be payable in connection with the Offering and those qualified persons involved as finders will receive a cash fee of up to 7% of the proceeds raised and such number of common share purchase warrants equal to up to 7% of the total number of FT Unitsor Charity FT Units sold, as applicable, in relation to subscribers introduced by any particular finder.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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. In addition to extensive historic production, the Shaw Dome area is home to the Langmuir W4 Zone, 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 Clean Nickel TM business, targeting the growing demand for Class 1 Nickel from the electric vehicle battery sector. EV Nickel has more than 30,000 hectares to explore and has identified more than 100km of favourable strike length.

Forward-Looking Information and 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 samson@evnickel.com.

EV Nickel Inc.
200 - 150 King St. W,
Toronto, ON M5H 1J9
www.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 announces continued High-Grade Nickel Intersections from Langmuir, completing the Phase 1 Drilling

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

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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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Osisko Metals Begins 2025 Drill Program at Gaspé Copper

Osisko Metals Begins 2025 Drill Program at Gaspé Copper

Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that the 2025 drill program is underway at its 100%-owned Gaspé Copper project, located next to the town of Murdochville in the Gaspé Peninsula, eastern Québec.

2025 Drill Program

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Questcorp Mining Announces Private Placement

Questcorp Mining Announces Private Placement

Questcorp Mining Inc. (CSE: QQQ) (the "Company" or "Questcorp") is pleased to announce that it intends to complete a non-brokered private placement offering (the "Offering") of up to 33,000,000 units (each, a "Unit") at a price of $0.06 per Unit for gross proceeds of $1,980,000. Each Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder to acquire a further common share of the Company at a price of $0.10 per share for a period of two years.

The net proceeds of the Offering will be used by the Company to complete the acquisition of the La Union Project from Riverside Resources Inc., (see news release dated September 6, 2024), to continue a small exploration program at its North Island Copper Property, to retire existing payables and for general working capital purposes. Finders' fees or commissions may be paid in connection with the completion of the Offering, and all securities issued in the Offering will be subject to a four-month-and-one-day statutory hold period.

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Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at Ballywire; Silver and Copper Values Continue to Impress

Group Eleven Intersects 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu, incl. 3.5m of 21.3% Zn+Pb, 395 g/t Ag and 0.73% Cu at Ballywire; Silver and Copper Values Continue to Impress

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce results from the latest two holes of the ongoing drill program at the Company's 100%-owned Ballywire zinc-lead-silver discovery ("Ballywire"), PG West Project ("PG West"), Republic of Ireland.

Highlights:

  • G11-3552-27 intersected (from 213.0m):
    • 24.8m of 8.1% Zn+Pb (5.8% Zn and 2.3% Pb), 80 g/t Ag and 0.12% Cu, including
    • 15.6m of 11.6% Zn+Pb (8.3% Zn and 3.3% Pb), 122 g/t Ag and 0.19% Cu, including
    • 6.6m of 16.7% Zn+Pb (11.1% Zn and 5.7% Pb), 240 g/t Ag and 0.42% Cu, including
    • 3.5m of 21.3% Zn+Pb (13.3% Zn and 8.0% Pb), 395 g/t Ag and 0.73% Cu
    • Located in middle of 270m gap between two previously released drill fences
  • G11-3552-25 intersected (from 187.2m):
    • 16.2m of 2.8% Zn+Pb (2.1% Zn and 0.7% Pb) and 8 g/t Ag, including
    • 4.6m of 7.4% Zn+Pb (5.6% Zn and 1.8% Pb) and 21 g/t Ag, including
    • 1.9m of 12.9% Zn+Pb (9.6% Zn and 3.3% Pb) and 39 g/t Ag
    • Located 50m NNW from G11-3552-27
  • Above results confirm the extent of the recently announced flat-lying zone of zinc-rich massive sulphide lenses at least 360m along strike and remaining open to the NE
  • Massive sulphide zone is pierced by G11-3552-27 and seven previously released holes, of which three are referenced below:
    • G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g/t Ag (released 11-Jun-24)
    • G11-3552-18: 11.8m of 11.6% Zn+Pb and 48 g/t Ag (released 22-Oct-24)
    • G11-3552-19: 15.3m of 14.5% Zn+Pb and 56 g/t Ag (released 14-Nov-24)
  • Drilling continues at Ballywire with two rigs testing further down-dip of the two holes released today, plus the NE extension; assay results are expected in due course

"It is great to see the NE massive sulphide zone now consistently intersected by eight high-grade holes over a strike length of 360m and open to the NE," stated Bart Jaworski, CEO. "Excellent silver and significant copper values are also noteworthy because they increasingly point to a stratigraphically deeper horizon known to be highly prospective for copper and silver in this part of Ireland. Namely, the Gortdrum Cu-Ag mine, active in the 1960s and 70s, is located 10km NE of Ballywire, whereas, the Denison and Tullacondra Cu-Ag historic occurrences are 5km SE and 45km SW of Ballywire, respectively. A deeper Cu-Ag horizon at Ballywire is one of our key targets for 2025.

Our two other key targets include: (i) exploration drilling along strike from the drilled 2.6km-long discovery area towards the encompassing 6km long prospective trend and (ii) up and down dip from the discovery trend in search of parallel zones of mineralization. We eagerly await results from drilling down dip of today's results and along the NE extension."

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Exhibit 1. Cross-Section A-A' of G11-3552-25, -27 (Filling In 270m Gap Between Fences) at Ballywire

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Exhibit 2. Plan Map Showing Key New Drilling (G11-3552-25, -27) at Ballywire

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Exhibit 3. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire

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Recent Holes from Ballywire Discovery

The Ballywire prospect at the Company's 100%-owned PG West Project in Republic of Ireland, is a relatively new zinc-lead-silver discovery (first announced Sept-2022). In addition to 42 holes drilled and reported by Group Eleven to date, the most recent two holes (G11-3552-25 to -27) are reported today (see Exhibits 1 to 6). Note, a second batch of assays totalling over 50m within G11-3552-27 is still pending.

High-grade mineralization from G11-3552-25 and -27 consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian Limestone (see Exhibit 1).

Exhibit 4. Summary of Assays from G11-3552-25 and -27 at Ballywire

ItemFrom
(m)
To
(m)
Int
(m)
Zn
(%)
Pb
(%)
Zn+Pb
(%)
Ag
(g/t)
Cu
(%)
G11-3552-25187.15203.3516.202.140.692.838.00 -
Incl.187.15195.518.363.591.114.7014.49 -
Incl.190.87195.514.645.591.827.4120.97 -
Incl.192.69194.601.919.593.3212.9239.19 -
G11-3552-27213.00237.8124.815.842.288.1180.40.12
Incl.219.42235.0615.648.303.2811.59122.10.19
Incl.219.42222.212.7915.573.7719.3592.790.03
And228.51235.066.5511.065.6516.71240.00.42
Incl.230.36233.903.5413.268.0121.27395.10.73


Note: True width of the overall mineralized package in all holes above is estimated at approx. 90-100% of the intersected interval

Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively flat-lying zinc-rich massive sulphide lenses and second, 'other high-grade mineralization', dominated by variably dipping massive sulphides, as well as, vein-hosted and disseminated mineralization (see Exhibits 1-3). Both styles occur at or near the base of the Waulsortian Limestone and offer great exploration opportunities as drilling progresses.

Looking forward, seven (7) drill holes (G11-3552-24, -26, -28 and 29 to -32; see Exhibit 3) are in progress with results expected in due course. Exhibit 3 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 2) of significantly mineralized drill intercepts (open in all directions). This in turn is hosted within a 6km long prospective trend defined by four gravity high anomalies, only one of which (anomaly 'C') is systematically drilled to date (see Exhibit 5).

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Exhibit 5. Regional Gravity at Ballywire Showing 6km Long Prospective Trend

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Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore (see Glencore's Resources and Reserves Report dated December 31, 2023); (b) Stonepark MRE: see the 'NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland', by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in 'Report on Prospecting Licence 464' by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in 'The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody' by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in 'Report on Mallow Property' by David Wilbur, dated December 1973; and later summarized in 'Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork' by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. 'Rathdowney Trend' is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

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Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (77.64% Interest)

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Note: Two westernmost prospecting licenses were surrendered in December 2024 from the Stonepark Project, reflecting decreasing prospectivity and the Company's preference to focus on core prospects (Ballywire and Carrickittle West)

Consultant

The Company has engaged ProConsul Capital Ltd. ("ProConsul") to provide investment marketing consulting services (the "Services") commencing February 6th, 2025. In consideration for the Services, the Company will pay a fee of C$6,000/month and has agreed to grant stock options to ProConsul, the number and terms of which stock options will be determined at a later date. The agreement is subject to TSX Venture Exchange acceptance and renewable on a month-to-month basis unless terminated by either party on 30 days written notice.

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent 'Qualified Person' as defined under Canadian National Instrument 43-101.

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials ("CRMs" or "Standards") as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) and (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)

Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

Neither 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 or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

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