FPX Nickel Commences Scoping Study to Develop North America's Largest Nickel Sulphate Refinery for the EV Battery Market

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies that have substantially improved the operating margin and reduced the risk profile for an awaruite concentrate refinery to produce battery-grade nickel sulphate. Building on this improved business case and incorporating results from the ongoing pilot-scale hydrometallurgical testwork program, FPX has commenced the development of a standalone refinery study which will be completed in the first quarter of 2025.

Highlights

Value engineering studies highlight the strategic opportunity for FPX Nickel to develop North America's largest battery metals refinery, with the capacity to produce 32,000 tonnes of nickel in nickel sulphate per year, enough to build about 450,000 electric vehicles annually
Building on previous engineering work outlined in the 2023 Baptiste Nickel Project (" Baptiste ") preliminary feasibility study, optimization of the purification flowsheet has substantially improved the refinery operating margin while reducing waste handling and disposal risk
Pilot-scale testwork of the refinery flowsheet, with funding support from the Government of Canada , is well progressed and results will be reported in October 2024
FPX has commenced a standalone scoping study for the battery metals refinery, which will include a detailed technical and economic analysis, for publication in the first quarter of 2025

"Our refinery Value Engineering studies have substantially improved the business case and reduced the risk profile for a standalone refinery to convert awaruite concentrate into battery-grade nickel sulphate," commented Andrew Osterloh , the Company's Senior Vice President, Projects & Operations. "Awaruite presents an unparalleled opportunity to significantly expand North America's battery material supply chain, all without the need to either displace or add smelting capacity. As we close-out our Value Engineering for Baptiste, we are excited at the new value basis for our large-scale, long-life, high margin, and low-carbon project."

Background

The Baptiste 2023 preliminary feasibility study (" PFS ") demonstrates the potential to develop a high-margin and low-carbon nickel mine producing an average of 59,100 tonnes per year of nickel over a 29-year mine life (see the Company's September 6, 2023 news release). Due to awaruite's properties, Baptiste has the unparalleled flexibility to produce a high-grade concentrate (60% nickel) for either direct feed into the stainless steel industry (the " Base Case ") or for further refining into battery-grade nickel and cobalt products for the electric vehicle battery supply chain (the " Refinery Option ").

While the PFS presents robust economics, including a Base Case after-tax NPV _8% of US$2.01 Billion and after-tax IRR of 18.6% at US$8.75 /lb. Ni, FPX continues to strive towards adding further value to Baptiste, focusing on a holistic blend of economics, constructability, operability, risk and ESG considerations.

The key Value Engineering studies pursued by FPX in 2024 are:

Mineral processing (see the Company's July 10, 2024 news release)
Mine planning and engineering (see the Company's July 30, 2024 )
Refinery planning (described herein)

Refinery Engineering Studies

To demonstrate Baptiste's strategic flexibility to also produce nickel and cobalt for the battery material supply chain, the Refinery Option in the 2023 PFS envisioned the development of a standalone refinery to produce battery-grade nickel from awaruite concentrate. Located in an urban setting in central British Columbia , the refinery would benefit from the infrastructure, services, and labour which would be available at an integrated battery material processing hub, such as those being developed in eastern Canada and other locations worldwide.

Earlier this year, FPX commissioned a detailed technical review of the 2023 PFS Refinery Option, and executed refinery Value Engineering studies. No major risks were identified in the review of the PFS Refinery Option, and several tangible opportunities were highlighted for further evaluation during both the Value Engineering and subsequent study stages.

Most notable of the identified near-term opportunities was the refinery reagent scheme. The PFS Refinery Option assumed the use of caustic (a.k.a. sodium hydroxide, NaOH) as the neutralizing base, with caustic accounting for approximately 60% of the total operating cost. The use of caustic generates sodium sulphate (Na ₂ SO ₄ ) as a byproduct, which is a low value commodity, has limited industrial uses, and is projected to be in significant over-supply as the battery material supply chain further develops.

Following a review of all potential reagent schemes, an ammonia-based flowsheet was selected as the best value for further evaluation. The ammonia-based flowsheet is similar to the sodium hydroxide flowsheet, except ammonia gas (or ammonium hydroxide when dissolved in water) is the reagent used in the process plant in solvent extraction operations. A similar flowsheet is used in Terrafame's nickel sulphate refinery in Finland . See Figure 1 for a block flow diagram of the new refinery flowsheet.

Modifying the refinery flowsheet to an ammonia-based reagent scheme results in an immaterial increase to capital costs, but a material decrease in operating costs (given the significantly lower consumption rate for ammonia versus caustic). Additionally, the waste product of sodium sulphate, for which zero value was ascribed in the PFS Refinery Option, is now replaced by ammonium sulphate, a valuable fertilizer product. In addition to generating a significant new value source with a more stable future market outlook, the production of ammonium sulphate eliminates the previous waste handling/disposal risk associated with sodium sulphate production. Overall, this change results in a significant improvement to the operating margin and reduction in the project risk profile.

Refinery Testwork with Funding Support from Natural Resources Canada

The previously announced pilot-scale testwork of the refinery flowsheet (see the Company's April 30, 2024 news release) is progressing well, with results forecast for release to the market in October 2024 . In addition to pilot-scale testwork of the leaching circuit, batch-scale testwork will be completed of the purification flowsheet up to production of nickel sulphate.

The pilot testing campaign was funded in part by a $725,000 grant from Natural Resources Canada (" NRCan ") under the Government of Canada's Critical Minerals Research, Development and Demonstration (" CMRDD ") program, which is advancing the commercial readiness of processing technologies that will support the development Canada's EV battery material supply chain.

Refinery Scoping Study

Incorporating results of the refinery Value Engineering and testwork programs, FPX has commenced the preparation of a standalone awaruite refinery scoping study. Considering current off-take rights that have been granted to strategic investors, the refinery will have a capacity of 32,000 tonnes per year of contained nickel in battery-grade nickel sulphate. For the purposes of this study, the refinery location will continue to consider an urban location within central British Columbia .

Along with the improved business case and reduced risk profile, the standalone study will better present the strategic opportunity to meaningfully increase North America's battery material supply chain capacity without the need to construct new smelting or complex primary refining capacity. The scoping study, which will contain a detailed evaluation of capital, operating costs and the overall economics of the awaruite refinery, will be published in the first quarter of 2025.

Andrew Osterloh , P.Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni ₃ Fe) hosted in an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 408 km ² , west of Middle River and north of Trembleur Lake, in central British Columbia . In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

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 distinctive style of awaruite nickel-iron mineralization.

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director
Email: ceo@fpxnickel.com
Phone: 604-681-8600

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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/16/c6952.html

News Provided by Canada Newswire via QuoteMedia

tsxv:fpx base metals investing fpx:ca

FPX:CA

FPX Nickel Announces Share-Based Compensation Grant

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") announces that the board of directors of the Company has approved the grant of 5,305,000 stock options (the " Options ") to directors, officers and employees of the Company pursuant to the Company's Share Compensation Plan. The Options have an exercise price of $0.30 per share, with a five-year term and are fully vested on the grant date, July 10, 2025 .

The Company also granted an aggregate 750,000 restricted share units (the " RSUs ") to certain officers of the Company. The RSUs vest in three equal installments on the annual anniversaries of the grant date and each vested RSU will entitle the holder to receive one common share of the Company or the equivalent cash value upon settlement.

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 alloy 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

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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

FPX Nickel Receives Multi-Year Area-Based Permit and Commences 2025 Drilling Activities at Baptiste Nickel Project

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to report that it has received a multi-year area-based (" MYAB ") permit from the government of British Columbia to support the renewal of drilling activities at the Baptiste Nickel Project (" Baptiste " or " the Project ") in 2025. This year's drilling program has commenced successfully, targeting the completion of geomechanical, hydrogeological, and condemnation holes to complement the Project dataset for the feasibility study and the Company's planned entry into the environmental assessment (" EA ") process in the second half of 2025.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

FPX Nickel Announces Results of 2025 Annual General and Special Meeting

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of its 2025 Annual General and Special Meeting held on June 26 2025.

Shareholders voted in favour of all items put forward by the Board of Directors and Management. Shareholders elected eight directors to the Company's Board, namely, Kim Baird , Peter M.D. Bradshaw , Anne Currie , James S. Gilbert , Peter J. Marshall , Andrew Osterloh , Robert B. Pease and Martin E. Turenne . The shareholders approved all other matters as proposed, including the appointment of DeVisser Gray LLP as the auditor of the Company and approval of the Company's 10% rolling share compensation plan.

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 alloy 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

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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/27/c9286.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

FPX Nickel Completes Production Run of Battery-Grade Nickel Sulphate to Support Discussions with Prospective EV Battery Supply Chain Partners

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce successful production of additional battery-grade nickel sulphate from its Baptiste Nickel Project (" Baptiste " or the " Project "). Building on the success of previous testing campaigns, a production run was completed to produce larger quantities of nickel sulphate crystals. The nickel sulphate samples, which meet the strict target specifications for battery applications, will be provided to selected prospective downstream partners including pCAM producers, battery companies, and automakers pursuing supply security, traceable sourcing, and low carbon intensity production.

"The production of high-purity nickel sulphate further positions us to engage in strategic discussions with prospective downstream partners across the global EV supply chain," commented Martin Turenne , FPX Nickel's President and Director. "This milestone further demonstrates the strategic flexibility of the Baptiste awaruite concentrate and the technical maturity of the awaruite refining process."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

FPX Nickel and JOGMEC Initiate Exploration at the Expanded Klow Property in British Columbia

FPX Nickel Corp. (TSX-V: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce planned exploration activities at the Company's Klow property (" Klow " or the " Property "), located 45 km north of the Company's Baptiste Nickel Project. Exploration will be 100% funded by the Japan Organization for Metals and Energy Security (" JOGMEC ") under the terms of an earn-in agreement which provides JOGMEC the option to earn up to a 60% interest in the Property. The Company has recently expanded the mineral claims at Klow by 600%, bringing the Property to 164 km 2 and is currently preparing a wide-ranging surface rock sampling program over the summer of 2025 with the goal of advancing Klow to drill-ready status.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Prismo Metals Announces Closing of Upsized Private Placement Silver King Exploration to Begin in July

(TheNewswire)

Vancouver, British Columbia, July 18, 2025 TheNewswire - Prismo Metals Inc. (" Prismo " or the " Company ") (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news release dated July 3, 2025, the Company has upsized and closed its previously announced non-brokered private placement of units of the Company (" Units ") at an issue price of $0.05 per Unit (the "Private Placement" ). Due to strong investor demand, the Private Placement was increased from 5,000,000 Units to the issuance of 11,500,000 Units for gross proceeds of $575,000.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Finlay Minerals Announces Increased Budget for PIL and ATTY Projects

Finlay Minerals Ltd . (TSXV: FYL,OTC:FYMNF) (OTCQB: FYMNF), the "Company", is pleased to announce that the approved budget under the Earn-In Agreements with Freeport-McMoRan Mineral Properties Canada Inc. ("Freeport") 1 for both the PIL and ATTY Projects, has been increased to a total of $3.6 million .

Both projects are situated in the highly prospective Toodoggone District of British Columbia , which continues to develop as an important copper-gold (Cu-Au) district with significant potential for further discoveries.

Initially, the 2025 budget was set at a minimum of $750,000 for the PIL property and $500,000 for the ATTY property. However, these amounts have now been revised to up to $2.6 million for the PIL project and up to $1.0 million for the ATTY project. Both programs are fully funded under the Earn-In Agreements with Freeport . According to these agreements, Freeport may earn an 80% interest in each property by investing a total of $35 million in exploration expenditures and making cash payments totaling $4.1 million over/up to six years. ² Until the Finlay-Freeport Earn-In Agreements complete, Finlay owns 100% of both properties.

The PIL Property lies in the heart of the Toodoggone region and features several porphyry copper-gold (Cu-Au) targets, along with associated epithermal gold-silver (Au-Ag) mineralization. To date, 18 porphyry Cu ± Mo ± Au and porphyry-related low- and high-sulphidation epithermal Au-Ag occurrences have been outlined on the PIL Property. The PIL property is adjacent to Amarc Resources and Freeport-McMoRan's JOY Project, as well as TDG Gold Corp.'s Shasta/Baker and Sofia Properties. It is also situated 25 kilometres ("km") northwest of Centerra Gold's former Kemess South Mine and 15 km east of Thesis Gold's Lawyers Project.

The ATTY Property covers 3,875 hectares of sub-alpine terrain in the southern Toodoggone region, an area known for significant porphyry copper-gold (Cu-Au) and epithermal gold-silver (Au-Ag) deposits. It is located between Centerra Gold's Kemess Project and the JOY Project, held by Amarc Resources and Freeport-McMoRan. The KEM target on the ATTY Property resembles the Kemess North Trend, which is home to the Kemess Underground and Kemess East deposits. Exploration will focus on the Wrich target, located near the copper geochemical anomaly at the SWT target on the JOY Property. This anomaly extends over 2 km and continues onto the ATTY Property for an additional 1.2 km to the southeast.

The 2025 programs at the PIL and ATTY are well underway with:

Detailed property-wide, 100 metre line-spaced airborne magnetic surveys completed on both properties;
Detailed geological and alteration mapping and expanded rock and soil sampling on up to 8 target areas on the PIL underway, with the ATTY expected to start by the end of July;
53 line-km of induced polarization ("IP") geophysical surveys planned on the PIL and 16 line-km on the ATTY, and
Finlay acting as the Operator on both properties.

Finlay's President and CEO, Ilona Lindsay , states :

"We are very pleased with the substantial increase in approved funding for both the PIL and the ATTY. This additional funding will allow us to identify and prioritize as many targets as possible for drilling in 2026."

References:

Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with major operations in the Americas and Indonesia and significant reserves of copper, gold, and molybdenum.
Finlay news releases NR 03-25 dated April 17, 2025 entitled: " Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties " and NR 05-25 dated May 2, 2025 and entitled: " Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In Agreement. "

Qualified Person:

Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

About finlay minerals ltd.

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five properties in northern British Columbia :

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com .

On behalf of the Board of Directors,

Robert F. Brown ,
Executive Chairman of the Board

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

Forward-Looking Information: This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the PIL & ATTY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

SOURCE finlay minerals ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/17/c1585.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Juggernaut Closes $1,000,000 $0.64 Unit Private Placement Financing

(TheNewswire)

Vancouver, British Columbia TheNewswire - July 17, 2025 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCQB: JUGRF) (FSE: 4JE) (the "Company" or "Juggernaut"), further to its July 3, 2025, news release the Company is pleased to announce that it has received approval from the TSX Venture Exchange to close its private placement financing (the "Financing") for aggregate gross proceeds of $1,000,000.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Element	Units	Nickel Sulphate Crystals
Element	Units	Baptiste Typical Sample	Target Specification ¹
Nickel	wt%	>22	>22
Aluminum	ppm
Arsenic	ppm
Calcium	ppm	2
Cadmium	ppm
Cobalt	ppm	2
Chromium	ppm
Copper	ppm
Iron	ppm	1
Potassium	ppm
Magnesium	ppm	1
Manganese	ppm
Sodium	ppm
Lead	ppm
Silicon	ppm
Zinc	ppm	1
Note 1: Based on review of industrially available products and battery producers' requirements

FPX Nickel Commences Scoping Study to Develop North America's Largest Nickel Sulphate Refinery for the EV Battery Market

FPX Nickel Investor Kit

GET YOUR FREE INVESTOR KIT

Investor Insight

Overview

Company Highlights

Key Project

Decar Nickel District - Baptiste Project

2023 Preliminary Feasibility Study (PFS)

Downstream Integration and Refinery Study

Pilot-Scale Success and Government Support

Management Team

Martin Turenne – President, CEO and Director

Dan Apai - Vice President, Projects

Tim Bekhuys – SVP, Sustainability and External Relations

Felicia de la Paz – CFO and Corporate Secretary

Dr. Peter M.D. Bradshaw – Chairman

Peter Marshall – Director

Anne Currie – Director

James S. Gilbert – Director

Kim Baird – Director

Rob Pease – Director

Latest News

FPX Nickel Investor Kit

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

TOP STOCKS