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- Negotiated access to the Carshaw Mill site, adjacent to the Company's Carman-Langmuir exploration target
- EV Nickel may potentially use the site as a Regional Exploration and Technical hub
- Secured Right of First Refusal to purchase the land, including the Permitted Carshaw Mill Facility
EV Nickel Inc. (TSX-V:EVNI) ("EVNi" or the "Company") is pleased to announce it has agreed terms for a Lease and Right of First Refusal Agreement, pending further due diligence, with a privately held mineral exploration company that is arms length from EVNi (the "Vendor"), for surface rights overlaying seven mining patents (the "Lease Properties"), east of Langmuir Road and serviced by a power line, in Shaw Township, southeast of Timmins, Ontario. The surface rights are beneficially owned or under option with the Vendor
EVNi believes that the Lease Properties may provide an excellent future base for its regional exploration and the Company has also secured a right of first refusal ("ROFR") for acquisition of the Lease Properties from the Vendor. This ROFR positions EVNi to also acquire the Carshaw Mill, a permitted processing facility, located on the Lease Properties. The Lease Properties are located adjacent to the Large-Scale Carman-Langmuir Target, which EVNi plans to drill this summer.
"Part of our current focus is to secure more land in the Shaw Dome and we've had our eye on Carshaw for awhile" states Sean Samson, President, CEO of EV Nickel. "With a large focus of future drilling to be up on the Northeast, moving our team closer to the activity, and closer to town, is a bonus. Also, there are only two permitted processing mills in the district, this gives us a ROFR for the surface rights under one of them."
EVNi is now working with the Vendor on the Final Lease Agreement and plans to have this finalized in the coming weeks.
Exploration Phases
The Company's Phase 2 Drilling is almost complete, with the final holes now underway, testing the down plunge potential of the High-Grade Langmuir W4 Zone. This work is targeting the extension of the currently defined mineralized envelope with an objective of identifying additional down plunge, high-grade nickel mineralization.
Once Phase 2 is complete, EV Nickel will immediately shift into Phase 3, starting with the Large-Scale Carman-Langmuir Target in the northeast of the Company's land package.
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.
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 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 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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