FPX Nickel Closes $14.4 Million Strategic Equity Investment from Sumitomo Metal Mining

FPX Nickel Closes $14.4 Million Strategic Equity Investment from Sumitomo Metal Mining

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has closed the private placement financing (the " Private Placement ") with a new cornerstone strategic investor, Sumitomo Metal Mining Canada Ltd. (" SMCL "), a wholly-owned subsidiary of Sumitomo Metal Mining Co., Ltd. (TSE: 5713) (" SMM "), as previously announced in the Company's January 17, 2024 news release.

Under the terms of the Private Placement, FPX has issued 30,104,488 common shares (" Private Placement Common Shares ") in the capital of the Company to SMCL at a price of $0.48 per Private Placement Common Share, for gross proceeds of $14,450,154 . On completion of the Private Placement, SMCL now owns 9.9% of FPX's issued and outstanding common shares on a non-diluted basis.

January 22, 2024 MOU signing ceremony in Vancouver, Canada, featuring (left to right), Fazil Mihlar, Deputy Minister, Ministry of Jobs, Economic Development & Innovation, Government of British Columbia, Martin Turenne, President and CEO, FPX Nickel, Eiichi Fukuda, Executive Officer, General Manager of Mineral Resources Division, Sumitomo Metal Mining, and Kohei Maruyama, Consul General of Japan in Vancouver (CNW Group/FPX Nickel Corp.)

The Company intends to use the net proceeds of the Private Placement primarily for exploration and development ‎‎activities at its Baptiste Nickel‎ ‎Project, continuance of ‎‎ongoing environmental baseline activities, feasibility study readiness activities, and ‎‎general corporate and administrative purposes. The Private Placement Common Shares issued pursuant to the Private Placement will be subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.

In connection with the Private Placement, the Company has agreed to pay a cash advisory fee in the amount of ‎$578,006 (4% of the gross proceeds of the Private Placement) to RCI Capital Group Inc.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

This news release may contain ‎"forward-looking information" within the meaning of applicable Canadian securities laws‎, including those describing FPX's future plans, and the expectations of management that a stated result or condition will occur. These statements address future events and conditions and so involve inherent risks and ‎uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the use of proceeds of the Private Placement; potential business synergies as a result of SMM's investment in FPX; and the advancement of exploration and development activities at the Decar Nickel District‎. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

SOURCE FPX Nickel Corp.

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FPX Nickel Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Subsidiary CO2 Lock Corp. Achieves Successful Injection of CO2 at SAM Project in British Columbia

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on the activities of CO2 Lock Corp. (" CO2 Lock "), its majority-owned subsidiary specializing in carbon capture and storage (" CCS ") via permanent mineralization. CO2 Lock has completed a comprehensive field program at its SAM site in central British Columbia including the first-ever successful injection of CO 2 into a brucite-rich ultramafic mineral project. This achievement marks a significant milestone in the development of CO2 Lock's innovative in-situ CO 2 mineralization technology.

Highlights
  • Successful injection of CO 2 at depth, with downhole sensors verifying the desired CO 2 content throughout the carbonated water injection, bolstering confidence in the effectiveness of CO2 Lock's proprietary approach
  • Geological analysis confirms that the SAM deposit has promising mineralogy for CO 2 mineralization and permanent storage, with high values of brucite (key carbon-reactive mineral)
  • Extraction of multi-tonne surface bulk sample for use in an ex-situ CO 2 mineralization pilot at CO 2 Lock's laboratory in the Vancouver area

"The promising geological analysis and successful demonstration of the CO 2 injection into the SAM project highlight the significant potential of CO2 Lock's in-situ mineralization technology," commented Martin Turenne , FPX's President and CEO. "We look forward to seeing CO2 Lock's next steps in advancing its proprietary approaches to both in-situ and ex-situ carbon mineralization at its SAM project."

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FPX Nickel Appoints Kim Baird to Board of Directors

FPX Nickel Appoints Kim Baird to Board of Directors

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointment of Kim Baird C.M., O.B.C., Hon LL.D. to the Board of Directors, effective immediately.  Ms. Baird is an accomplished leader and strategic advisor working with Indigenous communities, governments, businesses and other organizations. In her prior role as the elected Chief of the Tsawwassen First Nation, she negotiated and implemented British Columbia's first modern urban treaty, establishing for the Tsawwassen People ownership and governance over their land and resources.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

"We are honoured to welcome Kim to the FPX Board," commented the Company's Chairman, Peter Bradshaw . "Kim is a distinguished expert in Indigenous policy, governance, and economic development and is a highly-regarded advocate for Indigenous peoples. Kim brings expertise in major infrastructure projects and the associated opportunities for economic reconciliation and Indigenous participation in these projects. She will be a tremendous addition to the FPX team as we continue advance our flagship Baptiste Project."

Ms. Baird currently acts as the Chancellor of Kwantlen Polytechnic University and as the interim Chief Administrative Officer for the Tsawwassen First Nation. She previously served on the boards of BC Hydro and the Greater Vancouver Board of Trade, and currently serves as a director on several boards including the Canada Infrastructure Bank. She is a member of both the Order of Canada and the Order of British Columbia , and has been the recipient of several distinguished awards, including the British Columbia Reconciliation Award (2022) and the Queen Elizabeth Platinum Jubilee Award (2022).

The appointment of Ms. Baird is subject to receipt of approval from the TSX Venture Exchange and the Securities Regulatory Authorities.

Grant of Restricted Share Units

The Company has awarded an aggregate of 3,985,000 restricted share units (" RSUs ") under the Company's share compensation plan to officers, employees and non-executive directors. The RSUs will vest in three equal installments on the annual anniversaries and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia.  Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling.  Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project.  The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite.  For more information, please view the Company's website at https://fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Announces Full Exercise of Participation Rights by the Company's Three Strategic Investors and Completion of Resultant Private Placement

FPX Nickel Announces Full Exercise of Participation Rights by the Company's Three Strategic Investors and Completion of Resultant Private Placement

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that in connection with the $14.4 million strategic investment by Sumitomo Metal Mining Canada Ltd. (" SMCL ") which closed on January 22, 2024 the Company's three strategic investors have fully exercised their participation rights to re-establish their respective initial ownership interest in FPX's issued and outstanding common shares (" Common Shares ").

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

In connection with the exercise of the participation rights, the Company has completed an additional private placement (" Private Placement ") through the issuance of a total of 8,981,971 Common Shares of the Company to the three strategic investors (the Corporate Strategic Investor, Outokumpu Oyj, and SMCL) at a price of $0.48 per Common Share, for gross proceeds of $4,311,346 .

On completion of the Private Placement, FPX has a cash position of approximately $45 million , which the Company estimates to be sufficient to fund its planned activities for 2024 and 2025. Details of the participation by each of the Company's three strategic investors are provided below.

Corporate Strategic Investor

On December 1, 2022 , FPX closed a private placement of Common Shares with a Corporate Strategic Investor which provided the Corporate Strategic Investor the right to participate in equity financings to maintain its 9.95% interest in the Company. In connection with the exercise of the participation right, the Company has issued 3,899,053 Common Shares to the Corporate Strategic Investor at a price of $0.48 per Common Share, for gross proceeds of $1,871,545 .

Outokumpu Oyj

On May 30, 2023 , FPX closed a private placement of Common Shares with the major stainless steel company Outokumpu Oyj (" Outokumpu ") which provided Outokumpu the right to participate in equity financings to maintain its 9.9% interest in the Company. In connection with the exercise of the participation right, the Company has issued 4,193,703 Common Shares to Outokumpu at a price of $0.48 per Common Share, for gross proceeds of $2,012,977 .

In accordance with the terms of an amended investor rights agreement (" IRA ") between Outokumpu and the Company, in the event Outokumpu reaches and maintains a minimum ownership of 15% or more of the issued and outstanding Common Shares of FPX on a non-diluted basis, Outokumpu will have the right to nominate one director to FPX's board of directors. Further, the amended IRA includes a covenant from Outokumpu to not vote against management's recommendations on ordinary matters to be approved by the shareholders of the Company, in each case subject to certain customary conditions and exceptions.

Sumitomo Metal Mining Canada Ltd.

On January 22, 2024 , FPX closed a private placement of Common Shares with SMCL which provided SMCL the right to participate in equity financings to maintain its 9.9% interest in the Company. In connection with the exercise of the participation right, the Company has issued 889,215 Common Shares to SMCL at a price of $0.48 per Common Share, for gross proceeds of $426,823 .

The Company intends to use the net proceeds of the Private Placement primarily for exploration and development ‎‎activities at its Baptiste Nickel‎ ‎Project, continuance of ‎‎ongoing environmental baseline activities, feasibility study readiness activities, and ‎‎general corporate and administrative purposes. The Common Shares issued pursuant to the Private Placement are subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.

In connection with the Private Placement, the Company has agreed to pay a cash advisory fee in the amount of ‎$17,073 (4% of the amount invested by SMCL) to RCI Capital Group Inc.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia . Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite. For more information, please view the Company's website at https://fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

This news release may contain ‎"forward-looking information" within the meaning of applicable Canadian securities laws‎, including those describing FPX's future plans, and the expectations of management that a stated result or condition will occur. These statements address future events and conditions and so involve inherent risks and ‎uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the use of proceeds of the Private Placement; potential business synergies as a result of the strategic investors' additional investments in FPX; the nomination and appointment to FPX's board of directors of a nominee of Outokumpu; FPX's current cash position being sufficient to fund its planned activities for 2024 and 2025; and the advancement of exploration and development activities at the Decar Nickel District‎. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Announces $14.4 Million Strategic Equity Investment from Major Global Nickel Producer Sumitomo Metal Mining

FPX Nickel Announces $14.4 Million Strategic Equity Investment from Major Global Nickel Producer Sumitomo Metal Mining

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that it has entered into a subscription agreement for a private placement financing (the " Private Placement ") with a new cornerstone strategic investor, Sumitomo Metal Mining Canada Ltd. (" SMCL "), a wholly-owned subsidiary of Sumitomo Metal Mining Co., Ltd. (TSE: 5713 ) (" SMM ").

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Under the terms of the Private Placement, FPX will issue 30,104,488 common shares (" Private Placement Common Shares ") in the capital of the Company to SMCL at a price of $0.48 per Private Placement Common Share, for gross proceeds of $14,450,154 . Upon completion of the Private Placement, SMCL will own 9.9% of FPX's issued and outstanding common shares on a non-diluted basis.

"This strategic investment by Sumitomo Metal Mining represents another significant technical validation of FPX's Baptiste Nickel Project (" Baptiste " or the " Project "), and underscores our view that Baptiste is a class-leading asset," commented Martin Turenne , FPX's President and CEO. "SMM is one of the world's largest nickel producers, with peer-leading expertise in mining, processing and refining products in the stainless steel and electric vehicle battery supply chains. FPX is pleased to be one of SMM's preferred partners as they look to expand their nickel production profile and diversify their supply chain to allied partners in North America ."

Eiichi Fukuda , Executive Officer and General Manager of Mineral Resources Division of SMM stated, "We expect that this investment will establish a strong relationship between SMM and FPX, with the aim to contribute to SMM's long term production target of 150,000 tonnes of nickel per year. We have a long business history in Canada with a variety of partners, and we are excited to be working with FPX."

The Company intends to use the net proceeds of the Private Placement primarily for exploration and development ‎‎activities at the ‎Project, continuance of ‎‎ongoing environmental baseline activities, feasibility study readiness activities, and ‎‎general corporate and administrative purposes. The Private Placement is expected to close on January 22, 2024 and is subject to certain customary conditions, including acceptance by the TSX Venture Exchange, as well as execution of an Investor Rights Agreement and a ROSO agreement (each as described below). The Private Placement Common Shares issued pursuant to the Private Placement will be subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.

Transaction Details

Concurrently with the closing of the Private Placement:

  • FPX and SMCL will enter into an investor rights agreement (the " Investor Rights Agreement " or " IRA ") that provides, among other things, SMCL with certain rights in the event it maintains minimum ownership thresholds in the Company, including the right to participate in equity financings. Further, the IRA will include a covenant from SMCL to not vote against management's recommendations on ordinary matters to be approved by the shareholders of the Company, in each case subject to certain customary conditions and exceptions. In addition, pursuant to the Private Placement, SMCL has agreed to a two-year standstill with respect to the acquisition of additional securities in FPX totaling greater than 14.9% of the common shares of FPX then issued and outstanding on a non-diluted basis, other than pursuant to exceptions customary for a standstill of this nature and acquisitions pursuant to SMCL's rights under the Investor Rights Agreement. In the event SMCL reaches and maintains a minimum ownership of 15% or more of the issued and outstanding common shares of FPX on a non-diluted basis, SMCL will have the right to nominate one director to FPX's board of directors.

  • FPX will grant a right of second offer (" ROSO ") that ‎provides SMCL the right, so long as it continues to hold all of the Private Placement ‎Common Shares, to negotiate, at market terms, one or more offtake agreements with FPX for up to an aggregate of 60,000 tonnes of nickel from the Project, with the timing and annual volume of such offtake to be negotiated at a later date. SMCL's offtake right will rank secondary to the offtake right previously granted by FPX to Outokumpu Oyj (see the Company's May 30, 2023 news release).

Based on the Company's 2023 preliminary feasibility study (" PFS "), Baptiste has the potential to produce an average of 59,100 tonnes of nickel per annum over a projected mine life of 29 years. There is no certainty that the conclusions or results as reported in the PFS will be realized (see the Company's September 6, 2023 news release).

Andrew Osterloh , P.Eng., FPX's Senior Vice President, Projects & Operations, FPX's Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this news release.

Webinar and Presentation

The Company's management will host a live webinar on Wednesday, January 17 at 2:00 p.m. Eastern ( 11:00 a.m. Pacific) to provide a Company update and to answer questions from participants. Participants can access the live webinar at the following link:
https://www.renmarkfinancial.com/live-registration/renmark-virtual-non-deal-roadshow-tsx-v-fpx-otcqb-fpocf-2024-01-17-140000

About Sumitomo Metal Mining Co., Ltd.

SMM is an integrated producer covering from mineral resource development, smelting & refining, to the production of battery materials and functional materials in Japan and internationally. SMM's business strategy of partnering with high-quality operators is evidenced by its strong portfolio of joint venture overseas assets, including several large-scale base metal operations held in joint ventures with partners including Teck Resources, Freeport-McMoRan and Lundin Mining. SMM has expertise, deep knowledge and many years of experience in producing various types of nickel products and aims to increase its production capacity of nickel from approximately 82,000 tonnes per annum currently to 150,000 tonnes per annum in the long term.

About the Decar Nickel District

The Company's Decar Nickel District represents a large-scale greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. FPX's mineral claims cover an area of 245 km 2 west of the Middle River and north of Trembleur Lake, in central British Columbia. Awaruite mineralization has been identified in several target areas within the ophiolite complex including the Baptiste Deposit and the Van Target, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling. Since 2010, approximately US $30 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the focus of increasing resource definition (a total of 99 holes and 33,700 m of drilling completed), as well as environmental and engineering studies to evaluate its potential as a bulk-tonnage open pit mining project. The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and unceded territories of Tl'azt'en Nation and Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

This news release may contain ‎"forward-looking information" within the meaning of applicable Canadian securities laws‎, including those describing FPX's future plans, and the expectations of management that a stated result or condition will occur. These statements address future events and conditions and so involve inherent risks and ‎uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ materially from those currently projected by management at the time of writing due to many factors the majority of which are beyond the control of FPX and its management. In particular, this news release contains forward-looking statements pertaining, directly or indirectly, to the following: the Private Placement, including, closing and the timing thereof, including receipt of TSX Venture Exchange approval and the timing thereof; the final terms of the IRA and the ROSO and entering into thereof; the use of proceeds of the Private Placement; future acquisition of common shares of FPX by SMCL; the nomination and appointment to FPX's board of directors of a nominee of SMCL; potential business synergies as a result of SMM's investment in FPX; and future off-take agreements pursuant to the ROSO; the advancement of exploration and development activities at the Project; the Project's potential nickel production as set out in the PFS; and FPX's contribution to SMM's long term production goal of 150,000 tonnes; Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. These statements speak only as of the date of this release or as of the date specified in the documents accompanying this release, as the case may be. The Company assumes the obligation to update any forward-looking statement except as expressly required by applicable securities law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

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FPX Nickel Subsidiary CO2 Lock Corp. Named to Foresight 50 List of Canada's Most Investible Cleantech Ventures

FPX Nickel Subsidiary CO2 Lock Corp. Named to Foresight 50 List of Canada's Most Investible Cleantech Ventures

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce that CO2 Lock Corp. (" CO2 Lock "), its majority-owned subsidiary focused specializing in carbon capture and storage (" CCS ") has been named by Foresight Canada as one of the Foresight 50, Canada's Most Investible Cleantech Ventures.

FPX Nickel Corp. Logo (CNW Group/FPX Nickel Corp.)

"This recognition by one Canada's leading cleantech organization validates the progress CO2 Lock is making in advancing its carbon mineralization technology at its SAM project site in central British Columbia ," commented Martin Turenne , FPX's President and CEO. "Foresight has a long history of accelerating Canadian cleantech companies through to commercialization with financial and technical assistance, and CO2 Lock will be well-positioned to leverage their network and internal teams to advance its progress."

On March 30, 2022 , FPX announced the formation of CO2 Lock as a self-funding subsidiary entity to pursue geoscience-related CCS opportunities. FPX retains 100% of the carbon credits associated with CCS on its own properties, and will retain a right to use, free of charge, any intellectual property developed by CO2 Lock for the benefit of FPX's own properties.

The annual Foresight 50 list is selected by a panel of investors and stakeholders, based on multiple criteria including investibility, potential environmental and employment impact, leadership and team, and probability of success. More information on the Foresight 50, including the selection process and detailed information on each company chosen, can be found here: https://foresightcac.com/2023/11/08/2023-foresight-50

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of awaruite nickel mineralization. For more information, please view the Company's website at www.fpxnickel.com

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2023/20/c9874.html

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Gravity Survey Results Identify High Impact Near Deposit Massive Sulphide Exploration Targets at its Lagoa Salgada VMS Project, in Portugal

Gravity Survey Results Identify High Impact Near Deposit Massive Sulphide Exploration Targets at its Lagoa Salgada VMS Project, in Portugal

  • New High-Resolution gravity survey suggests potential to rapidly expand Massive Sulphide Mineralization at current Venda Nova North and South Deposits
  • Multiple additional gravity anomalies identified to potentially add to the Massive Sulphide Ore Bodies near Venda Nova
  • EDM's Option to gain a 15% interest in the Project extended to September 30, 2024 due to upcoming elections and government change

Ascendant Resources Inc. (TSX:ASND)(OTCQB:ASDRF)(FRA:2D9) ("Ascendant" or the "Company") is pleased to announce the results of its recent high-resolution gravity survey completed over the Venda Nova North and South Deposits at its Lagoa Salgada VMS Project, in Portugal

Key Highlights

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Forte Minerals Attends 92nd Annual PDAC

Forte Minerals Attends 92nd Annual PDAC

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Forte Minerals Corp. ("Forte" or the "Company") ( CSE: CUAU ) ( OTQB: FOMNF ) ( Frankfurt: 2OA ) , is pleased to announce that the company will be attending this year's Prospectors & Developers Association of Canada (PDAC) convention, taking place in person at the Metro Toronto Convention Centre on March 3-6, 2024.

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Tinka Reports Updated PEA and Mineral Resource Estimate for the Ayawilca Polymetallic Zinc-Tin-Silver Deposit

Tinka Resources Limited ("Tinka" or the "Company") (TSXV:TK)(BVL:TK)(OTCQB:TKRFF) is pleased to announce the results from an updated Preliminary Economic Assessment(" PEA") on the Company's 100%-owned polymetallic Ayawilca project ("Ayawilca" or the "Project") in central Peru. The updated PEA shows Ayawilca to be an excellent base metals project with significant enhancements from the previous PEA study. The Project now features a smaller, more efficient zinc-silver-lead plant, introduces a separate tin plant for additional revenue and commodity diversification and highlights the development path forward for Ayawilca to become a producing mine

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Canadian North Resources Inc. Invites Investment Community to Visit Them at Booth 3031 at PDAC 2023 in Toronto, March 3-6

Canadian North Resources Inc. Invites Investment Community to Visit Them at Booth 3031 at PDAC 2023 in Toronto, March 3-6

Canadian North Resources Inc. (TSXV: CNRI) (OTCQX: CNRSF) (FSE: EO0) (E-O-zero) ("the Company") is pleased to announce its participation in the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.

Dr. Kaihui Yang, CEO of the Company, will present at the Corporate Presentation Forum for Investors ("CPFI") Nickel and PGM session on March 5, 2024, at 10:10 AM. Dr. Yang will present a 10-minute overview of the Company and its large, high-grade Ferguson Lake nickel, copper, cobalt, palladium and platinum project, and share insights into its most recent activities.

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Osisko Metals Establishes a Technical Consultation Committee to Develop the Pit Dewatering Plan for Gaspé Copper

Osisko Metals Establishes a Technical Consultation Committee to Develop the Pit Dewatering Plan for Gaspé Copper

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce the creation of a technical consultation committee to assist in developing a plan for the dewatering of the Mount Copper open pit at Gaspé Copper, located close to Murdochville in the Gaspé region of Quebec. The committee is led by Osisko Metals' newly-hired VP Environment and Sustainable Development, Dr. Ann Lamontagne (see below).

Since closure and remediation of the former Gaspé Copper mine site, the Mount Copper open pit has flooded. In order to evaluate the viability of restarting open pit mining operations at Gaspé Copper, the pit must be dewatered as soon as possible to allow for improved deeper in-pit resource evaluation and geotechnical drilling. Osisko Metals is committed to doing so in a responsible manner that is inclusive of environmental factors and key stakeholders in the region. Following ongoing environmental and engineering studies, Osisko Metals will elaborate a plan in collaboration with the committee and will then go through necessary steps to obtain permits from government authorities.

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Fireweed Makes Complete Drill Database Available and Launches New Website

Fireweed Makes Complete Drill Database Available and Launches New Website

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF; FSE: M0G) is pleased to report that an integrated dataset containing all previously released Fireweed and historical drilling data from the Macmillan Pass ("Macpass") Project, Yukon, Canada, is now available on a newly launched website.

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