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.

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FPX Nickel Announces Results of Baptiste Nickel Project Economic Impact Study

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce the results of an Economic Impact Study (the "Study" ) completed for the Company's Baptiste Nickel Project (" Baptiste " or " the Project "). The Company engaged Mansfield Consulting Inc. to assess the potential regional, provincial, and national economic impact of the Baptiste Nickel Project, based on the findings of the Company's Pre-Feasibility Study ("PFS" ) published in September 2023 .

The Economic Impact Study focuses on quantification of the economic impacts that would be created by the development and ongoing operations of the Project, and assesses the regional employment impacts created by the Project; the Study does not replace or alter the findings of the PFS. Amounts herein are in Canadian Dollars unless otherwise noted.

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FPX Nickel Announces Approval of Normal Course Issuer Bid

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce that it has received approval from the TSX Venture Exchange (the " Exchange ") to proceed with its Normal Course Issuer Bid (the " NCIB ") previously announced on December 2, 2024 .

Under the NCIB, the Company may acquire up to 5,000,000 common shares (" Common Shares "), representing approximately 2% of the current public float of the Common Shares, over the 12-month period commencing December 5, 2024 , and ending on December 5, 2025 .

Purchases of Common Shares will be carried out in the open market through the facilities of the Exchange, in compliance with regulatory requirements at the prevailing market price of the Common Shares at the time of acquisition. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by the Company and dependent on market conditions. The NCIB will be conducted through Cormark Securities Inc. and made in accordance with the policies of the Exchange.

The funding for any purchases pursuant to the NCIB will be from the available funds of the Company. To the Company's knowledge, none of the directors, senior officers, or other insiders of the Company, has any present intention to sell any Common Shares during the course of the NCIB. During the past 12 months, no Common Shares were purchased by the Company.

The Company is commencing the NCIB because it believes that the market price of its Common Shares is undervalued and does not reflect the value of the Company's assets and future prospects and that the purchase of Common Shares under the NCIB is in the best interest of the Company, a desirable use of its available cash, and will enhance shareholder value in general.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, 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
Email: ceo@fpxnickel.com
Phone: 604-681-8600

Forward-Looking Statements

Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to the Company's NCIB, including the dates and duration of the NCIB and the purchases of Common Shares made thereunder, the continued advancement of Baptiste, and driving additional value to shareholders, advancing global exploration joint venture and other statements that are not historical facts. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's annual information form dated April 26, 2024 for the year ended December 31, 2023 (the "AIF"). A copy of the AIF and the Company's other publicly filed documents which can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca . In addition, there can be no assurance that the Company will repurchase all or any of the Common Shares referred to in this press release under the NCIB. In particular, the purchase by the Company of Common Shares pursuant to the NCIB will depend, among others, on the prevailing market price from time to time of the Common Shares. There can also be no certainty that purchases of Common shares under the NCIB will achieve the desired objectives. In addition, the Company's expectations with respect to Baptiste may be different than anticipated.

The Company cautions that the list of risk factors and uncertainties described in the AIF and the Company's other publicly filed documents is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. The forward-looking information contained in this press release represents our expectations as of the date of this press release (or as the date they are otherwise stated to be made), and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

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 Leverages Strong Balance Sheet and Intends to Launch Normal Course Issuer Bid

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce that the Company's board of directors has authorized a Normal Course Issuer Bid (the " NCIB ") to purchase for cancellation, from time to time, as the Company considers advisable, up to 5,000,000 common shares (" Common Shares ") of the Company, representing approximately 2% of the current public float of the Common Shares. The NCIB is subject to approval of the TSX Venture Exchange (the " Exchange "), and the Company has filed a notice of intention with the Exchange in this regard.

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FPX Nickel Rock Sampling Program Establishes Mich Property as Compelling Large-Scale Target with Surface Grades Comparable to Flagship Baptiste Nickel Project

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the results of a grid-based rock sampling program at the 100% owned Mich property in the Yukon territory. This program has both expanded the footprint of known awaruite mineralization and identified new areas of awaruite mineralization beyond the previous claims boundary. Based on the expanded database of Mich rock sampling results, the grade profile of surface rock samples at Mich is now considered comparable with similar samples at FPX's flagship Baptiste Nickel Project (" Baptiste ") in British Columbia .

Highlights

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FPX Nickel Expands Land Packages at the Decar Nickel District and Klow Project in Central British Columbia

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX Nickel " or the " Company ") is pleased to announce an expansion that almost doubles the mineral claims package at the Baptiste Nickel Project (" Baptiste " or the " Project "), located within the Company's wholly-owned Decar Nickel District (" Decar "). The total area of the Decar claims package is now approximately 451 km 2 providing several benefits to the development of Baptiste, including geological potential, project development flexibility, and simplification of the regional engagement landscape.

Decar Nickel District Expansion

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Altair Minerals Limited New Central Porphyry System Identified at Venatica

Sydney, Australia (ABN Newswire) - Altair Minerals Limited (ASX:ALR) (OTCMKTS:CHKMF) is pleased to announce preliminary findings following a site visit where the Company has identified a significant outcrop of stockwork system at Central Porphyry. Outcropping quartzite, magnetite and secondary biotite veined porphyry stockwork which is part of a new separate Central Porphyry - 3km Southwest of the high-grade Irka NE Porphyry.

Key Highlights:

- Identification of new Central Porphyry | Venatica West a Porphyry Cluster

Site visit has discovered a significant outcrop of leached porphyry stockwork and ultra-potassic vein system which identifies a Central Porphyry intrusive part of a cluster system at Venatica West. Typical alteration and veining present within Bornite-Gold rich Copper Porphyry systems.

- Extremely dense veining and stockwork | Multi-stage Mineralisation

Stockwork of A-type quartz, magnetite and secondary biotite on Central Porphyry is the densest identified to date across Venatica West, suggesting significant hydrothermal activity, overlapping events, fracturing and multi-stage mineralisation at Central Porphyry, ideal for copper enrichment.

- Small portion of a much larger system | Central Porphyry Remains Open

Identification of Central Porphyry is an outstanding outcome, due to only a portion of the potassic stockwork zone outcropping, which could've easily been missed. Ultra-potassic alteration with dense stockwork as seen within this outcrop, generally tends to expand kilometres, with remaining footprint of alteration sitting under soil cover. Further fieldwork can identify full extent of this Central Porphyry.

- Potential for regional Porphyry system | SW - NE Regional Porphyry System

Preliminary fieldwork analysis on-going, with already a new Central Porphyry system being identified within virgin grounds at Venatica West, sitting ~3km Southwest of the high-grade Irka NE Porphyry and ~2km Northeast of the Irka SW Porphyry-Skarn system. Suggestive of a regional SW to NE trending porphyry cluster, filling the intersection of two district faults.

- Community Engagement Commenced | Early Community Approval

Early engagement has commenced with the local community, with multiple local members showing support for on-going exploration works. Altair's exploration team has also met with the President of the Community with very positive preliminary discussions. Altair has received initial community approval for exploration works with intention of putting forward long-term proposal of work programs, community incentive programs, project scheduling and local training.

Discovery of New Central Porphyry at Venatica West

The Central Porphyry is located on the Irka permit, situated ~3km southwest of the high-grade Irka NE Porphyry target and is a new intrusion system identified within Venatica West during initial site visit.

The upper zone of a new Central Porphyry has been identified through outcrop which consists of leached ultra-potassic stockwork of quartz, magnetite and secondary biotite dense veining, and surrounded by phyllic alteration halo and hosted within overprinted argillic alteration.

The ultra-potassic alteration suggests Altair is standing above the core of the Central Porphyry. The overprinting of strong argillic alteration has occurred from later stage hydrothermal fluids which has replaced the feldspars with clay material while maintaining the stockwork veining - suggesting a multistage mineralisation event which can significantly enrich the grades of copper sulphide and hypogene zone below. This leached stockwork from late-stage argillic alteration indicates the copper has been remobilized and disseminated into structurally favourable zones below, with potential to enhance grades within the contacts and breccia's at the core of the Central Porphyry.

The ultra-potassic zone generally sits right above the core of a Porphyry intrusion and in the case of the Central Porphyry, it is the densest set of stockwork, and veinlets discovered so far at Venatica West, with high alteration suggesting this area is the key part of hydrothermal activity and potentially the feeder to multiple other Porphyry systems.

The presence of dense secondary biotite veining on altered ultra-potassic outcrop not only indicates the presence of a new Porphyry system sitting below but also is an essential element for developing a large-scale Porphyry deposit within this particular belt.

Within other billion-tonne deposits proximal to Venatica, the presence of secondary biotite into the plays a key role in developing "scale" as its presence within porphyry stock and outwards into diorite host rock, tends to allow substitution of Fe2+ and Mg2+ with Cu2+, which can extend the copper mineral deposit footprint by a further ~500m radius in each direction from the main Porphyry core.

Key Takeaways

- Identification of new Central Porphyry akin to Bornite-Gold rich Copper Porphyries

- Ultra-potassic stockwork suggests we are standing above the core of the system

- Argillic overprint indicates a later-stage hydrothermal fluid enacted on Central Porphyry, leading to multi-phase mineralisation events.

- Leached outcrop, indicates copper has re-mobilized below into more structurally favourable zones allowing secondary enrichment in the porphyry core - which leads to higher grades.

- Presence of secondary biotite halo zone and veining in porphyry stock & diorite host is critical in developing scale within this belt for a large Cu-Au mineralisation zone beyond just the porphyry core.

- Structural alignment in SW-NE direction hosting a regional copper porphyry cluster. Irka NE Porphyry, the Central Porphyry and the SE Porphyry makes a potential corridor over more than 10km length.

This new Porphyry discovery adds on to the targets at Venatica, with 4x highly prospective undrilled targets for discovery being uncovered in this new district which is an extension of the belt which hosts multiple billion-tonne copper deposits, these targets at Venatica currently include:

- Irka NE Porphyry: Over 3.4km strike, with high-grade samples including:

- 7.0% Copper and 33g/t Silver
- 5.7% Copper and 43g/t Silver

- Irka SE Porphyry-Skarn: Large 6km2 anomalous area, with high-grade samples including:

- 4.8% Copper & 0.40g/t Gold
- 6.5% Copper & 0.52g/t Gold

- Central Porphyry: Newly discovered initial outcrop from field visit, part of a significantly larger system sitting under colluvial and soil cover. Ultra-potassic and advanced argillic alteration with significant stockwork and veining part of a separate porphyry intrusive.

- Venatica East: Over 17km of anomalous strike of copper stream sediments which are 5x background levels. Virgin grounds with potential to identify source of copper mineralisation feeding the streams and new major targets.

The identification of this Central Porphyry is significant and a result of the diligent fieldwork of the exploration team, as the outcrop is exposed over a minimal area and could've easily been missed. The degree of stockwork veining and hydrothermal activity suggests this alteration likely expands kilometres in each direction - with most of it sitting under post-mineral soil cover. Further detailed mapping and fieldwork will look to identify the true extent of this potassic alteration zone.

Venatica West is shaping up to be a regional porphyry system, hosting numerous high-quality targets for discovery. The Central Porphyry sits ~3km southwest of Irka NE and ~2km northeast of Irka SW, which indicates a structurally controlled regional porphyry trend SW - NE at Venatica West.

Community Engagement

Altair has received positive initial feedback from the community regarding its preliminary exploration activities and future plans. The community board has provided their approval and remains supportive with great relations built with local miners in the region who are eager for Altair to continue further exploration work.

Altair has also had an introduction and a very positive initial meeting with the President of the local community. Following from this, Altair representatives attended the initial community meeting and received approval to continue exploration works, with local members ready to assist. Altair continues to build upon existing supportive relationships within the community and will seek to provide a longterm formal proposal of its anticipated work programs, community incentive programs, project scheduling and local training. This proposal will be reviewed by the local community and President and will then be used to form the basis of monthly meetings with the community to build upon existing support.

Altair believes its early approach to engage the community and developing upon relationships which have been built over 10-years by the vendor of Irka will be key in fast-tracking exploration and development programs. Furthermore, this engagement is key to Altair's ESG core values and is expected to pay dividends in the future for both the Company and community. The early engagement with the community will also be critical in ensuring a smooth transition into its discovery programs.

Steps Forward at Venatica

The key anticipated steps forward aim to establish maximum value for shareholders through a scientific, systematic and diligent approach to exploration with the target of making a large-scale and globally significant discovery.

Venatica sits in the right the geological formation with all the key indicators capable of making such discovery. Altair plans to immediately initiate a comprehensive program to further evaluate the full potential of Venatica. The next key steps as part of the Venatica execution program includes:

- Evaluation of regional potential and detailed mapping

- On-going community engagement at Venatica West & Venatica East

- Rock chip and geochemical sampling program at Venatica West

Altair Chief Executive Officer, Faheem Ahmed comments:

"This is an outstanding find by our geological team within the high-grade Venatica Copper Project. This is now our third Porphyry target at Venatica West, and we are treading virgin and unexplored grounds here with potential to discover further mineralised outcrops and Porphyry's.

There is consistent dense veining across the outcrop which is exactly what you would like to see within a porphyry intrusion, suggesting significant magmatic fluid activity. More importantly, it appears the Central Porphyry has gone through multi-stage mineralisation, which not only introduces more copper into the intrusion, but also indicates copper has been leached from the outcrop and has potential to go through secondary enrichment below. These are all key indicators we are onto an exceptional exploration target, both with scale and potential to be high-grade.

We now have three key targets at Venatica West, two of them which has shown exceptional copper grades ranging 4 - 9% at surface across a large area. With the latest addition being this Central Porphyry, which has gone through significant leaching. Due to the leaching, we're looking for anomalous levels of copper at surface within the Central Porphyry, which will confirm to us this stockwork is likely to be significant mineralised at depth from remobilization of copper ions.

Furthermore, we are yet to even touch Venatica East, which hosts 17km strike of anomalous copper stream sediments. I'm incredibly excited to get boots on ground at Venatica East which is a pure greenfield opportunity and has never been systematically treaded or even sampled, and no one has ever followed up these prominent copper anomalies. We'll be the first Company to take an experienced geological team down to Venatica East, so the possibilities and upside is quite endless.

Simultaneously, we continue to progress works at Olympic Domain, our latest announcement on the project, 4 December 2024, has indicated a robust conductive ovoid, with historic drilling narrowly missing the core of the target. We are in intending to complete a follow-up TEM survey which can identify the precise depth of this ovoid, which will be critical for our drill program and targeting."

*To view tables and figures, please visit:
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About Altair Minerals Limited:

Altair Minerals Limited (ASX:ALR) (OTCMKTS:CHKMF) is listed on the Australian Securities Exchange (ASX) with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation. The Company has projects located in South Australia, Western Australia and Queensland with a key focus on its Olympic Domain tenements located in South Australia.

Source:
Altair Minerals Limited

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Vertex Minerals Limited Strengthens Board with Appointment of Mining Executive Sean Richardson

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX) (OTCMKTS:VTXXF) is pleased to announce the appointment of experienced mining executive Sean Richardson as an Independent Non-Executive Director.

Details of Mr Richardson's qualifications and experience are as set out below.

Commenting on the appointment, Chairman Roger Jackson said:

We are delighted to have Sean joining the Vertex Board at such an exciting time for the Company as we transition into high-grade gold production from stockpiles at Reward and beyond. He brings a wealth of relevant experience and we expect him to supplement the existing Board and Management team well.

SEAN RICHARDSON

MEng MSc MBA FAusIMM MEIAust GAICD

Sean Richardson is a mining professional with a career spanning over 30 years. Mr Richardson experience extends from operations through to consultancy and managerial roles where he has been involved in the exploration and development of mineral projects in Australia, North America, Africa, South-East and Central Asia.

Mr Richardson's notable roles include Managing Director of Empire Resources (ASX:ERL), Chief Operating Officer for Bardoc Gold (ASX:BDC) and Operations Manager for Shaw River Manganese (ASX:SRR).

Mr Richardson is passionate about the mining industry and its role in the advance of society, an enthusiasm that has led Mr Richardson to a seek out and attain greater knowledge of the global minerals industry.

Mr Richardson holds a Master of Engineering Technology (Mining Engineering), a Master of Business Administration (Curtin), a Master of Science in Mineral Economics (WASM), a Graduate Diploma in Mining (WASM) and an Advanced Diploma in Engineering and Mine Surveying (TAFE).

Mr Richardson is also a Graduate Member of the Australian Institute of Company Directors (GAICD), a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a Member of Engineers Australia (MEIAust).

About Vertex Minerals Limited:

Vertex Minerals Limited (ASX:VTX) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

Source:
Vertex Minerals Limited

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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 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."

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure1.png

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure2.png

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_5ca5f11594e49b67_004full.jpg

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

Item	From (m)	To (m)	Int (m)	Zn (%)	Pb (%)	Zn+Pb (%)	Ag (g/t)	Cu (%)
G11-3552-25	187.15	203.35	16.20	2.14	0.69	2.83	8.00	-
Incl.	187.15	195.51	8.36	3.59	1.11	4.70	14.49	-
Incl.	190.87	195.51	4.64	5.59	1.82	7.41	20.97	-
Incl.	192.69	194.60	1.91	9.59	3.32	12.92	39.19	-
G11-3552-27	213.00	237.81	24.81	5.84	2.28	8.11	80.4	0.12
Incl.	219.42	235.06	15.64	8.30	3.28	11.59	122.1	0.19
Incl.	219.42	222.21	2.79	15.57	3.77	19.35	92.79	0.03
And	228.51	235.06	6.55	11.06	5.65	16.71	240.0	0.42
Incl.	230.36	233.90	3.54	13.26	8.01	21.27	395.1	0.73

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).

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure5.png

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.

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

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure6.png

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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Criteria	Total GDP ($B)	Total Labour Income ($B)	Total Employment (direct, indirect, and induced jobs)	Total Tax Revenues ($B)
Initial Development (3 years)	3.3	2.2	19,800	0.8
Mine Expansion (2 years)	1.1	0.7	6,500	0.3
Mine Operations (29 years)	41.2	14.6	181,900	14.5
Total	45.6	17.5	208,100	15.6

Criteria	Federal Taxes	Provincial Tax	Municipal Tax
Initial Development (3 years)	421	338	53
Mine Expansion (2 years)	144	117	19
Mine Operations (29 years)	5,616	8,083	753
Total	6,181	8,538	825

Criteria	Initial Development	Phase 1 Operations	Expansion	Phase 2 Operations	Average
Direct Jobs Per Year	2,600	700	1,200	1,000	1,100
Indirect Jobs Per Year	2,300	2,700	3,800	3,800	3,400
Induced Jobs Per Year	1,700	1,500	2,400	2,100	1,900

	Mich Central Zone	Baptiste (Note 1)
Target Size	2.2 km x 575 m	3.2 km x 1.2 km
Number of surface samples	175	158
Samples >0.10% DTR Ni	44% (77 samples)	37% (58 samples)
Samples >0.06% DTR Ni	83% (145 samples)	79% (125 samples)
Samples	17% (30 samples)	21% (33 samples)

Au	Gold
g/t	Grams per tonne
IP	Induced Polarization
km	Kilometres
m	Metres
ppb	Parts per billion

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