Base Metals

FPX Nickel Reports on Large-Scale Pilot Testwork, With Results Validating Baptiste Flowsheet and Overall Recovery Basis

FPX Nickel Reports on Large-Scale Pilot Testwork, With Results Validating Baptiste Flowsheet and Overall Recovery Basis

FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to present results from recently completed large-scale pilot testwork, with results validating both the flowsheet and the 85% Davis Tube Recoverable (" DTR ") nickel recovery assumed in the 2020 Preliminary Economic Assessment (" 2020 PEA ") for the Baptiste Nickel Project (" Baptiste " or the " Project ") at the Decar Nickel District in central British Columbia.  The Company's current large-scale, three-phase metallurgical testwork program, which has been ongoing since mid-2021, will conclude in the second quarter of 2023 and the resulting dataset will support the completion of the Baptiste Preliminary Feasibility Study (" PFS ").

Highlights
  • Large-scale pilot testwork is now complete and sufficient high-grade (> 65% nickel) awaruite concentrate was produced for downstream hydrometallurgical testing for the production of battery-grade nickel sulphate
  • Large-scale pilot testwork validates the processing strategy for Baptiste, leveraging awaruite's ferromagnetism, high density, active surface properties, and very high nickel content into a simple flowsheet utilizing magnetic separation followed by conventional froth flotation
  • Consistent with the PEA, the PFS metallurgical testwork program confirms a minimum 85% DTR nickel recovery basis for the Baptiste PFS, including:
    • Pilot-scale magnetic separation and bench-scale flotation testwork confirm an overall minimum DTR nickel recovery of 82% to a high-grade awaruite concentrate
    • Bench-scale testwork confirms the potential to improve DTR nickel recovery by an additional 3-5% through atmospheric leaching of flotation tailings followed by hydroxide precipitation

"Our current three-phase metallurgical testwork program confirms earlier results that demonstrate the technical feasibility of the Baptiste Nickel Project," commented Andrew Osterloh , FPX Nickel's Vice-President, Projects.  "Large-scale pilot testwork is an effective tool for the Company to validate our straightforward processing strategy, which is based on awaruite's unique characteristics, leading to a simple concentrator flowsheet with a robust recovery basis.  As we continue to demonstrate Baptiste's ability to produce very high-grade nickel concentrates, we further confirm that Baptiste's concentrate does not require intermediate smelting before use in either the stainless steel or electric vehicle battery supply chains, which is an important value differentiator for the Project."

Summary

The Baptiste processing strategy leverages awaruite's distinct properties in a simple, yet robust flowsheet.  The front end of the flowsheet utilizes magnetic separation to create a "magnetics rich" concentrate of awaruite and magnetite – a process made effective due to awaruite's ferromagnetism and density.  The back end of the flowsheet then utilizes conventional froth flotation to separate awaruite from magnetite – a process made effective due to awaruite's active surface properties and magnetite's general lack of flotability.  Finally, based on awaruite's very high nickel content, a very high-grade nickel concentrate (50-65% nickel) can be produced.  Figure 1 presents the Baptiste flowsheet and Table 2 in the following section presents further details on Baptiste's processing strategy.  As noted in Figure 1, a new processing opportunity treating flotation tailings has been identified, and the results are discussed herein.

Figure 1 – PEA Flowsheet and New Process Opportunity (CNW Group/FPX Nickel Corp.)

The Company's three-phase metallurgical testwork program, which has been ongoing since mid-2021, is approximately 85% complete and will conclude in the second quarter of 2023.  The program includes both bench- and pilot-scale testwork and evaluates the comminution, magnetic separation, flotation, and hydrometallurgical unit operations.  The overall program will test approximately 25 tonnes of material, including a life-of-mine master composite, mine phase composites, and a bulk sample from the starter pit area.  Key results from the PFS metallurgical testwork program are presented in Table 1.

Table 1 – Key PFS Metallurgical Testwork Program Results – DTR Ni Recovery

DTR Nickel Recovery

PEA Criteria

Preliminary PFS Criteria

Stage
Recovery

Primary Magnetic Separation

90 %

94 %

Cleaner Magnetic Separation

100 %

99 %

Flotation

94 %

88 %

Overall Recovery

85 %

82 %

New Opportunity – Flotation Tails Leaching

-

3-5% improvement; leading to
minimum 85% overall

Note that Table 1 presents a preliminary view on PFS recovery criteria, and that the in-progress variability testwork (see Table 3 in the following section) will confirm final PFS recovery criteria.  As noted in Table 1, primary magnetic separation stage recovery has improved versus the 2020 PEA, balancing the effect of reduced flotation stage recovery versus the 2020 PEA.  Additionally, flotation tailings nickel leaching represents a significant new opportunity to improve overall nickel recovery to match or exceed the 85% recovery assumed in the 2020 PEA.

Background

The Company has completed approximately 85% of a three-phase PFS metallurgical test program aimed at validating the Baptiste processing strategy, flowsheet, and key process parameters.  The Baptiste processing strategy leverages awaruite's unique characteristics and is summarized in Table 2.  The overall program is summarized in Table 3, resulting in a robust dataset to support the Baptiste PFS.  Phase 3 of the program has been subdivided into three components, as identified in Table 3.

Table 2 – Awaruite's Distinct Properties and Baptiste's Processing Strategy

Awaruite Property

Value

Processing Strategy to Leverage Property

Ferromagnetic

Highly ferromagnetic;
approximately ten times more than
magnetite

Use low intensity magnetic separation to cleanly
separate awaruite and other magnetic minerals
(magnetite) away from serpentine gangue minerals
(barren waste rock)

Very Dense

Specific gravity of 8.6;

compared to the serpentine gangue
minerals (approximately 2.5-3.0)

Select a coarse primary grind size while maintaining
high primary recoveries by using a hydrocyclone
classifier to preferentially recycle and further grind
awaruite containing particles (i.e., preferential
grinding of coarse awaruite)

Active Surface Properties

Comparable to sulphide minerals

Use froth flotation to cleanly separate awaruite
(which is readily floatable) from magnetite (which
does not float under typical froth flotation
conditions)

Very High Nickel Content

77% nickel

(Ni 3 Fe)

Produce a mineral concentrate by froth flotation that
is sufficiently high-grade (50-65% Ni) and low
enough in impurities to eliminate the need to further
upgrade the concentrate via downstream smelting

Table 3 – Summary of Three-Phase PFS Metallurgical Testwork Program

Phase

Objective

Key Results

Status

1

1. Confirm PEA magnetic separation
results using composite sample
representative of life-of-mine
operations.

2. Expand comminution and grinding
parameter databases.

1. PEA magnetic separation
configuration and results validated,
generating a magnetics-rich feed for
flotation with the potential for recovery
improvement in primary magnetic
separation due to preferential grinding.

2. Generation of a PFS-level
comminution database and provide
inputs into an engineering study to
confirm SAG milling as preferred over
HPGR grinding.

Complete

Refer to FPX
news release
dated December
8 th , 2021

2

1. Confirm nickel mineralogy across
Baptiste resource.

2. Confirm PEA conclusion that froth
flotation can generate high grade nickel
concentrate.

1. Consistent mineralization confirmed
across deposit and confirmation of the
resource DTR nickel basis as a valuable
geometallurgical tool.

2. PEA froth flotation configuration and
results validated, with the generation of a
high-grade nickel concentrate (> 60%
nickel) with a locked cycle recovery of
88%. Alternative flotation regime
identified to potentially reduce circuit
reagent costs and complexity.

Complete

Refer to FPX
news release
dated

July 27 th , 2022

3a

1. Large-scale, longer duration pilot
testing to further demonstrate the
recovery benefits observed in Phase 1.

2. Generate sufficient high-grade
awaruite concentrate for
hydrometallurgy testing.

1. Further validation of PEA flowsheet
and confirmation of benefit of
preferential grinding.

2. Sufficient high-grade concentrate
(>65% Ni) generated.

Complete

Refer to this
news release

3b

Variability testing to confirm the
homogeneity of the Baptiste resource
and further validate the process design
criteria and design factors.

Testing in progress

Results forecast
for release in the
second quarter
of 2023

3c

Hydrometallurgy testing program to
optimize previous leach testing, and
conduct purification and nickel
sulphate crystallization testwork to
demonstrate efficient integration into
the battery material supply chain

Testing in progress

Results forecast
for release in the
second quarter
of 2023

The overall metallurgical testwork campaign is being overseen by Jeffrey B. Austin , P.Eng., President of International Metallurgical and Environmental Inc.

Phase 3a –Large-Scale Pilot Testwork

Building on Phase 1 piloting, the Company undertook large-scale pilot testwork to (1) further demonstrate the recovery benefits of plant-scale processing, and (2) generate sufficient high-grade awaruite concentrate for hydrometallurgical testing.  The Company engaged Corem ( Quebec, Canada ) to conduct this testwork based on their expertise in magnetic separation and conventional froth flotation and their extensive, world-class facilities.  FPX's metallurgical team worked closely with Corem to optimize a wide range of parameters for each unit operation in the flowsheet, which was only possible due to the large overall scale of the pilot testwork.

Initial results of the large-scale pilot testwork were reported in the Phase 2 news release ( July 27, 2022 ) and focused on the performance of the primary grind and magnetic separation unit operations.  This release provides complete results from the large-scale pilot testwork, which is now substantially complete.

17 tonnes of material were processed in the pilot test conducted at Corem. The feedstock for piloting was a bulk sample from the starter pit area with a head grade of 0.117% DTR nickel, as compared to the resource average of 0.129%.

Primary grind feed rates averaged 210 kg/h, with a total run time of over 80 hours.  In contrast, the Phase 1 pilot plant processed 3.6 tonnes of feed material over 23 hours of run time.  As previously reported, the shorter duration of the Phase 1 pilot was insufficient to reach steady state milling conditions due to the high density of awaruite and its influence on the recirculating load, while the Phase 3 pilot reached steady state conditions after processing 11 tonnes of material over 54 hours.  When steady state was reached, multiple surveys were conducted at primary grind sizes ranging from 80% passing 150 to 280 microns, leading to a robust dataset which supports the conclusions inferred from the Phase 1 pilot testing.

Phase 3a – Primary Magnetic Separation

As demonstrated in the Phase 1 piloting, awaruite's high density (~8.6 specific gravity (" SG ")) presents an opportunity for preferentially grinding awaruite, versus the much less dense background of serpentine gangue minerals (approximately 2.5-3.0 SG).  As a hydrocyclone classifies minerals based both on particle size and particle density, preferential grinding of awaruite was both expected and observed.  The preferential grinding of dense awaruite means that Baptiste can utilize a relatively coarse primary grind (target of 80% passing 275 microns for the PFS, versus 300 microns in the 2020 PEA) while achieving the metallurgical performance of a much finer grind, thus reducing circuit sizing, power consumption, and operating consumables.

In addition to demonstrating the benefits of preferential grinding of awaruite, additional pilot plant runs and ancillary bench-scale programs were completed to determine the impact of magnetic field strength on recovery.  Note that the testwork supporting the 2020 PEA utilized relatively low intensity magnetic separation and did not thoroughly explore the benefits of increased field strength.

The impact of preferential grinding and magnetic field strength are summarized in Figure 2. The results clearly indicate a 0.5-1.5% increase in DTR nickel recovery due to increasing magnetic field strength from 1,200 to 1,800 Gauss.  Note that 1,800 Gauss is still sufficiently low to be classified as "low intensity" magnetic separation and as such does not require a significant change or cost increase in the magnetic technology required for industrial equipment.

Also seen in Figure 2, the pilot plant results clearly indicate an additional 0.5-1.0% recovery benefit attributed to preferential grinding, versus results achieved in bench-scale testing.  In aggregate, preferential grinding and increased magnetic field strength leads to a recovery increase of 2-3% at the coarse primary grind size targeted for the PFS (80% passing 275 microns).  For comparison, Figure 2 also presents the 90.1% DTR nickel stage recovery assumed in the 2020 PEA.   Additionally, Figure 2 also presents Phase 1 piloting results (96.9% DTR nickel recovery) which was conducted on a representative life-of-mine composite, illustrating the potential for further recovery improvements.  The in-progress variability testwork (Phase 3b ) should provide further insight into this potential recovery improvement.

Figure 2 – Impact of Grind Size, Preferential Grinding, and Magnetic Field Strength on DTR Nickel Recovery in the Primary Circuit (CNW Group/FPX Nickel Corp.)

Phase 3a – Regrind and Cleaner Magnetic Separation

Following the primary circuit pilot test, the regrind circuit pilot plant test was conducted.  The objective of the regrind circuit is to further liberate awaruite and subsequently clean the concentrate by magnetic separation in order to produce a higher-grade "magnetics-rich" concentrate which can then be further upgraded by conventional froth flotation.

Similar to the primary circuit, the regrind circuit was set-up with closed circuit grinding using a hydrocyclone classifier, once again to take advantage of awaruite's high density and the resultant preferential grinding potential.  While the preferential grinding phenomenon was expected, it was much more pronounced than in the primary circuit.  Despite a total run time of 46 hours and a total regrind feed of 1.8 tonnes, steady state conditions were not achieved.  At the time of shutdown, it was estimated that the DTR nickel recirculating load was 5600% and only approximately 40% of DTR nickel was sufficiently fine enough to have reported to cyclone overflow for magnetic separation cleaning.

For the approximately 40% of DTR nickel which was sufficiently ground to report to hydrocyclone overflow, the DTR nickel recovery in cleaner magnetic separation exceeded 99%, in line with the 100% stage recovery assumption in the 2020 PEA.  The remaining DTR nickel recovered in the regrind circuit clean-out was batch ground and then subjected to magnetic separation, where DTR nickel recovery also exceeded 99%.

Phase 3a – Flotation

Having created a magnetics-rich product through two stages of grinding and magnetic separation, the objective of froth flotation is to separate awaruite from magnetite.  The cleaner magnetic separation concentrate produced from the regrind mill clean-out material was subjected to bench- and pilot-scale batch flotation as this material contained the majority of DTR nickel (60% of the regrind circuit feed).  This material performed exceptionally well in flotation, with a 94% recovery to a final concentrate grading more than 65% nickel.  This is inline with previous bench-scale flotation testwork results and the PEA's assumption of 94% flotation stage recovery to a 63% nickel concentrate.

Flotation concentrate from the Corem work is now the feedstock for the current hydrometallurgical testing program, the results of which will be released in the second quarter of 2023.

Update on Phase 2 Flotation Testwork

As indicated in the Company's July 27, 2022 news release, key flotation testwork results achieved during Phase 2 included confirmation of the ability to consistently produce very high-grade flotation concentrates and the potential for an alternative (lower-acid) flotation regime which could achieve similar metallurgical performance while reducing flotation operating costs and complexity.  The Phase 2 news release indicated flotation testwork remained in progress, and an update on the results is presented herein.

Further optimization of the baseline flotation conditions resulted in a slight improvement in locked cycle testing, with flotation stage nickel recovery increasing from 87% to 88%.  As indicated in the Company's July 27, 2022 news release, while recovery values are less than the PEA flotation stage recovery criteria of 94%, the current flotation results were impacted by the lower feed grade owing to the hold-up of nickel in the pilot plant grinding circuit.  As comparable flotation tailings grades were observed across the current and historic flotation programs, and testwork continues to indicate that coarse, liberated awaruite is readily recoverable in flotation, the Company continues to anticipate recovery estimates would increase if the flotation feed material was more representative.

Additionally, locked cycle testwork on the alternative, lower-acid flotation regime achieved similar results to the Company's historical flotation conditions. This lower-acid regime has the potential to reduce acid consumption by approximately 25%.  Fundamentally, testwork has now clearly identified two viable flotation regimes which can achieve similar and excellent metallurgical performance, thereby validating conventional froth flotation as a tool to produce very high-grade awaruite concentrates.

New Processing Option to Increase Nickel Recovery

In addition to the ongoing flotation testwork, the Company is conducting a test program to demonstrate the potential to further improve nickel recovery through treating flotation tailings via leaching.  The objective of this processing concept is to access any nickel contained in low-grade awaruite containing particles that would dilute the final concentrate grade or ultra-fine awaruite particles that may not respond as effectively to conventional froth flotation.

Testwork to-date demonstrates that 65% of the nickel contained in flotation tailings can be readily leached using dilute sulphuric acid under ambient temperature and pressure conditions.  The balance of unrecovered nickel (35%) is almost entirely composed of nickel contained within magnetite, either as locked particles or in solid solution.  This indicates that the leaching process is extremely efficient for liberated or exposed awaruite particles.  Nickel was selectively leached away from magnetite with minimal co-leaching of iron (around 2-3%) and very low free acidities in the leach liquor, which indicates the potential for low reagent consumptions.  The majority of nickel in such a leach solution could readily be recovered as a mixed hydroxide precipitate (" MHP ") using simple and conventional unit operations.  This would be a new product stream, in addition to the high-grade awaruite concentrate which would still constitute the vast majority (95% or greater) of nickel output.

Flotation tailings nickel leaching represents a significant new opportunity to improve overall nickel recovery to match or exceed the 85% recovery assumed in the 2020 PEA. Based on results to date, it is estimated that DTR nickel recovery could be increased by 3-5% overall (from 82% to a minimum of 85%).

Qualified Person

The metallurgical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 Standards of Disclosures for Minerals Projects of the Canadian Securities Administrators ("NI 43-101") and supervised, reviewed, and verified by Jeffrey B.  Austin, P.Eng., President of International Metallurgical and Environmental Inc., a "Qualified Person" as defined by NI 43-101 and the person who oversees metallurgical developments for FPX Nickel.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 km 2 of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St.  James in central British Columbia.  The District is a two-hour drive from Fort St.  James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite (Ni 3 Fe), which is amenable to bulk-tonnage, open-pit mining.  Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, and the B, Sid and Van targets, as confirmed by drilling, petrographic examination, electron probe analyses and outcrop sampling on all four targets.  Since 2010, approximately US $28 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the focus of diamond drilling since 2010, with a total of 99 holes and 33,700 m of drilling completed.  The Sid target was tested with two holes in 2010 and the B target had a single hole drilled in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit.  In 2021, the Company executed a maiden drilling program at Van, which has returned promising results comparable with the strongest results at Baptiste.  In 2022, the Company executed a step-out drilling program at Van which demonstrated a significant expansion of the 2021-identified mineralized zone.

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.

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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News Provided by Canada Newswire via QuoteMedia

FPX:CA
OTXQB: FPOCF

FPX Nickel


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Nickel Rock Provides An Update On Its Nickel Properties In British Columbia

Nickel Rock Resources Inc. (the "Company" and "Nickel Rock") (TSX-V: NICL) (OTCQB: NICKLF) (FSE: NMK2) is pleased to announce the confirmation of a significant new nickel discovery from the maiden drilling program at the Van Target at nearby FPX Nickel Corp. (TSX-V: FPX) Baptiste Deposit in the Decar Nickel District as announced by FPX Nickel Corp. on October 19, 2021 ( News Release ).

"NICKEL ROCK PROVIDES AN UPDATE ON ITS NICKEL PROPERTIES IN BRITISH COLUMBIA"

As reported on July 8, 2021 , Nickel Rock has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals (TSXV: NILI) in order to concentrate on its exploration efforts on the Nickel Group Claims directly adjacent to the FPX Nickel Corp. (TSXV: FPX) Baptiste Nickel Deposit.  The option transaction remains subject to TSX Venture Exchange approval.

On September 3, 2021 , the Company announced ( News Release ) that it has completed the second phase of the its initial exploration program has been completed on its Nickel exploration claims located in northern British Columbia, Canada . The BC Nickel Exploration Project (the "Project") consists of four non-contiguous mineral claims groups held by Nickel Rock Resources Inc. through three separate agreements. The exploration stage project is in the Trembleur Lake area of central British Columbia , partially adjacent to FPX Nickel Corp.'s Decar Nickel Project, which is an advanced project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized ultramafic intrusive rocks of the Trembleur Ultramafic Unit.

About the Nickel Project

The subject claims are partially underlain by rocks like those hosting the Decar project of FPX Nickel where mineralization includes nickel, cobalt, and chromium.  Previous exploration suggests that at least some of the nickel mineralization occurs as awaruite which is a naturally occurring nickel-iron alloy important in the manufacture of environmentally efficient batteries for the electric vehicle markets globally. The mineral awaruite is both highly magnetic and very dense and is therefore amenable to concentration by mechanical processes including magnetic and gravity separation. This style of deposit is unique and presents considerable metallurgical and processing cost saving advantages.

Significantly, the awaruite found is found in a serpentinized ultramafic rock. In 2018, G. Dipple at the University of British Columbia began the Geoscience BC funded research project "Carbon Mineralization Potential Assessment for BC" scheduled for completion in early 2021. In late 2020 a preliminary assessment report was published. One of the key items from the report was " The use of reactive serpentinite tailings from nickel mining as a carbon sink has the potential to make nickel mining carbon neutral or a net carbon sink. " The presence of serpentinized ultramafic rocks has been repeatedly documented in the areas covered by the claims of the Nickel Rock Projects, as well as at FPX Nickel Corp.'s Decar Project (Dipple, G. et.al., Geoscience BC Report 2020-15).

The Company has seen the commodity spot price for nickel to be in a steady uptrend while world stockpiles have been on the decline and EV manufacturers are calling for more supply of nickel because nickel quantities are increasing in batteries as they increase the amount of charge a battery can hold, thus allowing the EV's to travel greater distances.  One such company is Tesla Inc., the world's leading EV manufacturer. Tesla's Founder, Elon Musk , stated that a large contract would be signed if a company could produce nickel with a lowered carbon footprint by using more environmentally friendly ways of mining ( Reuters: September 11, 2020 ). Robert Setter , Company President and CEO comments " Elon Musk's comments made waves in the nickel space and several juniors have benefited from his comments and surged 2 to 3 times their value."

Robert Setter , Company President and CEO continues "We are very pleased with the results from our initial exploration program on the Hard Nickel and Nickel 100 claim group and specifically with the work completed during phase 2 of this initial exploration program.   So far, we have recorded some relatively high Ni readings measured via portable XRF on the Nickel S block, as mentioned in our news from June 28, 2021 , and our geological team suspects these ultramafic rocks have potential to host awaruite mineralization.  This second phase of exploration includes both soil and rock sampling, technical report writing, mapping and assay work, with the remaining work to be done on trenching, geological, geochemical and geophysical surveying."

Recap of the Company's 2021 Work Program

The Company currently has sufficient funds in its treasury to fully fund its 2021 proposed work program and its remaining working capital needs for 2021 and 2022.

The proposed work program consists of trenching, surface exploration, diamond drilling, camp construction, and exploration activities to support drilling and trenching such as soil sampling, rock sampling, prospecting, and geological mapping. The company proposes a 12-man camp to be built in a cirque on the north slope of the un-named mountain west of and adjacent to Mount Sydney Williams, and will be built next to a sub-alpine lake at the headwaters of Van Decar Creek . The location of camp was selected based on past exploration camps at this location and is suitable for supporting exploration. Camp will be used to accommodate field personnel and will be accessed with helicopter.  The work program is managed by Jeremy Hansen , P. Geol. and Hardline Exploration Corp.

The Company estimates that this 2021 work program includes a total of $600,000 in exploration expenditures.

Qualified Person

Jacques Houle , P.Eng., a qualified person as defined by NI 43 – 101, is responsible for the technical information contained in this release. Readers are cautioned that the information in this press release regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the property of interest.

About Nickel Rock Resources Inc. www.nickelrockresources.com

The Company is a Canadian-based mineral exploration company active in the exploration for nickel-iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange.  The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Clayton Valley Nevada Lithium Project

The Company owns a 100% in 77 lithium placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone.  As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events.  These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/

About the British Columbia, Canada Nickel Projects

The Mount Sidney Williams Group consists of five claim blocks in four groups with a total area of 6,125.32 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C. , in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite.  The Mitchell Range Group area claim consist of two contiguous claim blocks covering 3,134.70 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented. The Company has optioned out an 80% interest on certain mineral claims within the Hard Nickel 4 and Nickel 100 exploration project, to Surge Battery Metals Inc. (TSXV:NILI).  The transaction is subject to Exchange approval.

The Company has entered into an Option Agreement to acquire a 100% interest, subject to a 2% NSR, in 6 mineral claims (Funk claims) located approximately 15 km west of Mt Sydney Williams near Fort St James , BC.

The Company also entered into an option agreement whereby the Company may earn an undivided 100% interest in the Klone Group of mineral claims (1,400 ha) adjoining the property of FPX Nickel Corp (TSXV:FPX) located 100km northwest of Fort St. James BC in the Omineca Mining division.

The Company has also entered an option

On Behalf of the Board of Directors

" Robert Setter "

Robert Setter , President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.

Photo - https://mma.prnewswire.com/media/1665501/Nickel_Rock_Resources.jpg

Nickel Rock Resources Inc.

1220 – 789 West Pender Street

Vancouver, BC , Canada V6C 1H2

604- 428-5690

www.nickelrockresources.com

info@nickelrockresources.com

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SOURCE Nickel Rock Resources Inc.

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FPX Nickel Announces Positive PEA for Baptiste Project

FPX Nickel Announces Positive PEA for Baptiste Project

FPX Nickel Corp. (TSXV:FPX) (“FPX Nickel” or the “Company”) is pleased to announce it has received positive results from the 2020 Preliminary Economic Assessment (“PEA”) for the Baptiste Project (“Baptiste” or the “Project”) at its wholly-owned Decar Nickel District in central British Columbia. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) by BBA Inc. of Montreal, Canada with work on mine planning and tailings by Stantec Inc. of Vancouver, Canada.

Production and Economic Highlights

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FPX Nickel Announces Board Appointment of Former Vale Executive Stuart Harshaw

FPX Nickel Announces Board Appointment of Former Vale Executive Stuart Harshaw

FPX Nickel Corp. (TSXV:FPX) (“FPX Nickel” or the “Company”) is pleased to announce the appointment of Stuart Harshaw, P. Eng., MBA, to the Board of Directors, effective immediately. Mr. Harshaw is a leading figure in the global nickel market, with over 30 years’ experience in the production and marketing of nickel products worldwide, including in his roles as the Vice President of Marketing and Operations for Asia Pacific and Vice President, Ontario Operations for Vale S.A. (“Vale”) until 2017.

“We are very happy to welcome Stuart to the FPX Nickel Board,” commented the Company’s Chairman, Peter Bradshaw. “Stuart has deep operational experience in the development and management of major nickel operations in North America and Asia, and has an extensive background in the marketing of nickel products to global consumers in the stainless steel and battery markets. As a recognized leader in the global nickel industry, he will play a critical role in helping us to advance our flagship Baptiste Deposit at the Decar Nickel District, fostering the ongoing development of relationships with key strategic players in the nickel market, including offtakers, trading companies and major mining companies.”

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TSXV:FPX

FPX Nickel Confirms Anticipated Timing for Completion of Preliminary Economic Assessment on Baptiste Nickel Deposit

FPX Nickel Corp. (TSXV:FPX) (“FPX Nickel” or the “Company”) is pleased to provide an update on its corporate activities, including its plans for the preparation of an updated National Instrument (“NI”) 43-101 preliminary economic assessment (“PEA”) report on the Company’s Baptiste Deposit at its 100%-owned Decar Nickel District in central British Columbia. As previously disclosed in its news release dated February 25, 2020, the Company anticipates completion of the PEA in the late third quarter or fourth quarter of 2020.

FPX Nickel continues to monitor the outbreak of COVID-19 and the health and safety of its employees and consultants, who are being encouraged to work from home, where possible. The Company has access to all field and laboratory data which it requires to complete the preparation of the updated Baptiste PEA, and as a result does not anticipate any changes in the projected timeline for the completion of the study.

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TSXV:FPX

FPX Nickel Closes Private Placement for $1,500,000

FPX Nickel Corp. (TSXV:FPX) (“FPX” or the “Company”) is pleased to report that it has closed its previously announced non-brokered private placement of 8,333,332 shares at $0.18 per share for gross proceeds of $1,500,000 (the “Offering”).

The closing follows receipt of Conditional Acceptance of the Offering from the TSX Venture Exchange (“Exchange”). Within the next several days, FPX will be submitting the documentation needed the enable the Exchange to issue its Final Acceptance of the Offering. The Company anticipates receiving Final Acceptance shortly thereafter.

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Fabled Copper Reports Values As High as 19.85% copper and 21.90% Copper on Eagle Creek Copper Occurrence

Fabled Copper Reports Values As High as 19.85% copper and 21.90% Copper on Eagle Creek Copper Occurrence

Fabled Copper Corp. ("Fabled Copper" or the "Company") (CSE:FABL); (FSE:XZ7) announces the results of 2022 surface field work on its Muskwa Copper Project. See Figure 1 below

Figure 1 - General Property Location

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Platinex Inc. Announces Acquisition of Ontario Gold Assets, Shining Tree Joint Venture with Fancamp and $2.5M Equity Financing

Platinex Inc. Announces Acquisition of Ontario Gold Assets, Shining Tree Joint Venture with Fancamp and $2.5M Equity Financing

Platinex Inc. (" Platinex " or the " Company ") (CSE:PTX) is pleased to announce that it has entered into a binding heads of agreement dated February 6, 2023 with Fancamp Exploration Ltd. (" Fancamp ") (TSXV: FNC) with respect to advancing the exploration and development of certain gold mineral properties owned by the parties located in Ontario in the Timmins mining camp (the " Transaction ") (see attached map). The Transaction includes several components, pursuant to which (i) Platinex and Fancamp will transfer certain mining properties which they currently hold to South Timmins Mining Inc. (" Goldco "), currently a 100% wholly owned subsidiary of Platinex; (ii) enter into a shareholders' agreement respecting the operations of Goldco; (iii) Platinex will conduct a non-brokered private placement of flow- through units; and (iv) Platinex will conduct a private placement of non-flow-through units, of which Fancamp will subscribe for 9.5% of the issued and outstanding shares of Platinex, all as more particularly described below.

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Fancamp Announces Joint Venture with Platinex Inc. to Develop Ontario Gold Assets

Fancamp Announces Joint Venture with Platinex Inc. to Develop Ontario Gold Assets

Fancamp Exploration Ltd. (" Fancamp " or the " Corporation ") (TSX Venture Exchange: FNC ) is pleased to announce that it has entered into a joint venture arrangement with Platinex Inc. (" Platinex ") ( CSE: PTX ) to facilitate advancing the exploration and development of certain gold mineral properties held by the parties located in Ontario (see attached map). As part of the contemplated transaction (the " Transaction "), Platinex and the Corporation will:

  1. transfer Fancamp's Heenan Mallard and Dorothy properties and Platinex's Shining Tree property to South Timmins Mining Inc. (" Goldco "), a wholly owned subsidiary of Platinex. Subsequent to the Transaction, Goldco will be held 25% by Fancamp and 75% by Platinex. Fancamp will have an option to increase its shareholding to 50% on the basis described below;
  2. enter into a shareholders' agreement in relation to the governance of Goldco's operation; and
  3. enter into a subscription agreement, whereby the Corporation will purchase 9.5% of the issued and outstanding shares of Platinex.

Completion of the Transaction is subject to approval of the TSX Venture Exchange.

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Green River Gold Corp. Encounters 19.77% Magnesium, 0.178% Nickel Along with Cobalt and Chromium over 93.3 Meters, with Mineralization Consistent from the Bedrock Surface for the 42nd Consecutive Drill Hole

Green River Gold Corp. Encounters 19.77% Magnesium, 0.178% Nickel Along with Cobalt and Chromium over 93.3 Meters, with Mineralization Consistent from the Bedrock Surface for the 42nd Consecutive Drill Hole

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to provide the following assay results for Zone 2 of the Quesnel Nickel Project.

The Company has received assay results for hole WK-22-07 drilled to a depth of 93.3 meters in Zone 2 of the Deep Purple target. The drill hole is the 42nd hole drilled on the project to date and ended in mineralization. The assay results are presented in Table 1 below:

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American Copper Development to Commence Trading on the OTCQB Venture Market Under Symbol "ACDXF"

American Copper Development to Commence Trading on the OTCQB Venture Market Under Symbol "ACDXF"

American Copper Development Corporation (CSE: ACDX) (OTCQB: ACDXF) ("ACDC" or the "‎‎Company") is pleased to announce that effective February 2, 2023, the Company's common shares will commence trading on the OTCQB Venture Market (the "OTCQB") in the United States, under the symbol "ACDXF". The OTCQB is a U.S. trading platform that is operated by the OTC Markets Group in New York and is the premiere marketplace for growth and developing U.S. and international companies. Participating companies must be current in their reporting and undergo an annual verification and management certification process.

Daniel Schieber, CEO of American Copper, comments, "America needs copper, a lot of copper in order to achieve its clean energy goals. It is only fitting for our US focused copper company to be open to the American investing public. So we welcome all our future ACDXF shareholders. For those about to invest - we salute you! Let's Rock!"

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Inomin Secures Beaver Discovery Team

Inomin Secures Beaver Discovery Team

Inomin Mines Inc. (TSXV: MINE) ("Inomin", "MINE" or the "Company") reports signing a drilling agreement for the Company's Beaver-Lynx critical minerals property, an emerging magnesium-nickel-chromium-cobalt discovery located in south-central British Columbia. The next drilling is aimed at expanding Inomin's significant 2022 discovery and working towards delineating resources at Beaver. Maiden drilling is also planned at the Lynx area to test if mineralization is similar to discoveries at Beaver. Drilling is targeted to start this spring, with further drilling anticipated in summer andor autumn.

John Gomez, President of MINE comments, "We're happy we have been able to secure the same drilling company that we worked with to make our inaugural big discoveries at Beaver. Our team is excited to build on our successful exploration programs and test multiple, large, mineral footprints. We also look forward to completing first-ever drilling at Lynx that has even larger targets."

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