Grid Battery Metals Team Provides Nevada Exploration Update for 2024

Grid Battery Metals Team Provides Nevada Exploration Update for 2024

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - February 7, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid Battery") ( TSXV:CELL ) ( OTC:EVKRF ) ( FRA:NMK2 ) announces its plans to explore for the upcoming 2024 mineral exploration season in Nevada.

Tim Fernback, Grid President & CEO states "Now that our team has completed the recent site visit of Clayton Valley Lithium Project in Nevada, we have a clearer understanding of what Grid needs to accomplish for the 2024 mineral exploration season. We are excited to offer a summary of what our team has determined as next steps for each of our three lithium property prospects in Nevada."

Texas Spring Lithium Property

Our team recently completed the Phase 1 exploration of the Texas Springs Property in fall 2023 which included both a CSAMT geophysical survey and a detailed soil sampling on a 50 m X 100 m spacing. Results were impressive and on-trend with the results found at the Surge Battery Metals Inc. ("Surge") ( TSXV: NILI, OTC: NILIF ) Nevada North Lithium Property that adjoins the Texas Spring Property to the north. Our Phase 1 Exploration results included average grades of 2010 ppm, (applying a 1,000 ppm cut-off), and   up to an impressive 5,610 ppm. Lithium .

Four drillholes are recommended for a Phase 1 Reverse Circulation program targeting the mineralized zones identified in surface sampling. Drilling should be advanced to the bottom of the depositional basin, characterized by a basal conglomerate above bedrock. Depths to the base of the basin will vary depending on the location of the drillhole relative to the basin structure which is not well defined. Based on limited information, basin depths are expected to range from 150m (492 ft) to 300m (984 ft).

Samples should be collected for the entire length of hole and composited at regular 1.5m (5ft) intervals. Duplicates, blanks and standards should be inserted once every 20 samples (5%) for QA/QC. A four-acid aqua regia digestion analysis method is recommended for drill samples. This aggressive digestion method will sufficiently extract lithium and other elements of interest in the clays and other rocks encountered at the Project.

Drilling should be followed up with interpretation of the results. A 3D geologic model should be made using rock chips, assay results, CSAMT data and existing geologic mapping. The CSAMT data should be used to infer continuity of changes in subsurface strata, especially between sandy and clayey interfaces. The modeling should look for correlation between mineralized clay strata along trend with other high-grade intercepts. A comparison of any identified high grade lithium zones should be made with the CSAMT data collected. If correlation between high lithium clays is and a specific range of ohms is consistently identified at depth, this correlation should be used to inform additional drill targets at the Project.

If Phase 1 exploration is successful, a Phase II drill program should be undertaken to refine the location size and grades of mineralized zones. As few as five (5) additional drillholes may be sufficient, however if zones of interest are identified in the far western portion of the claim block, or anywhere on the eastern half of the claim block, as many as twenty (20) drillholes may be required.

Volt Canyon Lithium Project

At the Volt Canyon Lithium Project, the Company contracted the services of Rangefront Geological ("Rangefront") to perform a detailed soil sampling on a 100 m X 100 m spacing as a first phase of the Company's exploration plan on site. The Company proposes to use the results of these soil samples, together with a planned second phase exploration program involving geophysical surveys of the property, to help predict geological structure and possible locations for lithium accumulation. Unfortunately, an unusually wet fall and winter has shortened the exploration season on the Volt Canyon Lithium Project, and we plan on continuing the remaining soil sampling and assay work in 2024 when the exploration season begins.

Once the first two phases of this exploration program at Volt Canyon have been successfully completed, the Company will determine the next steps for its overall exploration plan. This may include, but is not limited to, a subsequent drilling program.

Soil Samples (100 X 100M Grid) (Volt Canyon Lithium Project)


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Clayton Valley Lithium Project

Mr. Fernback states "Recently we have issued news of our site visit to the Clayton Valley Lithium Property in Esmeralda County, Nevada. This lithium project is located in Clayton Valley, Nevada adjacent to the village of Silver Peak, Nevada, about 48 km (29 miles) southwest of Tonopah, Nevada, and 273 kilometers (170 miles) southeast of Reno, Nevada.

At the Clayton Valley Lithium Project, the Company contracted the services of Rangefront to perform an updated and revised NI #43-101 Technical Report. The Company proposes to use the results of this Technical Report and prior soil samples, geophysical surveys, and drilling on the property, to help identify structure and target areas favorable to lithium accumulation and determine next steps for its overall exploration plan. This may include, but is not limited to, additional CSAMT geophysical survey, additional soil sampling and a subsequent exploratory drilling program on the property. "

Mr. Fernback has recently made additional comments in the Company's February 2, 2024 news release, and as a reminder to our shareholders, " Clayton Valley holds the only producing lithium brine system in the United States and also holds amazing potential for lithium clay-hosted deposits . Our lithium claims in Clayton Valley are bordering the Silver Peak Lithium Project of Albemarle Corporation ( NYSE: ALB ), home to the only producing lithium mine in North America. Another neighbour of ours to the east, Century Lithium Corp. ( TSXV: LCE OTCQX: CYDVF ), has issued a pre-feasibility study referencing a 26% after-tax internal rate of return and an NPV 8 of $1.03 billion. It will be great to realize the potential of this area of Nevada for lithium-hosted brine and claystone for our shareholders."

Mr. Fernback continues "We are very excited about the upcoming 2024 Lithium Exploration Season in Nevada. We have recently completed the NI#43-101 Technical Report on our Texas Spring Lithium Project and plan on issuing the NI #43-101 Technical Report on our Clayton Valley Lithium Project, both of which will outline our subsequent exploration programs in more detail. Given that we have fully funded our 2024 Mineral Exploration Season with the cash currently held in our treasury, we are looking forward to deploying these funds to the benefit of our shareholders."

Clayton Valley Property


Click Image To View Full Size

It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).

About Rangefront Geological

Elko Nevada-based Rangefront Geological has combined in-depth expertise with cutting-edge technology to provide mining consulting services, contract labor, field crew services, and vehicular support to the mining industry. With services available across North America, Rangefront works closely with its clients to provide high-quality mineral exploration services.

Qualified Person

Mr. Steven McMillin, P.G. is a Qualified Person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.

About Grid Battery Metals Inc.

Grid Battery Metals 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. www.gridbatterymetals.com .

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded r esults with average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and   up to 5,610 ppm Lithium .

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") ( TSXV: NILI, OTC: NILIF ) and comprised of 725 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023 ). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023 ). Our exploration results are on-trend with these results.

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and 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.

Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

About the British Columbia, Nickel Projects

The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 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 consists of one claim block covering 8,659 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.

On Behalf of the Board of Directors

"Tim Fernback"

Tim Fernback, President & CEO

Contact Information:

Email: info@gridbatterymetals.com

Phone: 604- 4 28-5690

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. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).

Copyright (c) 2024 TheNewswire - All rights reserved.

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Grid Battery Metals Provides Update for the Proposed Spin-out and TSX Venture listing of its subsidiary, AC/DC Battery Metals Inc.

Grid Battery Metals Provides Update for the Proposed Spin-out and TSX Venture listing of its subsidiary, AC/DC Battery Metals Inc.

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - February 21, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF, FRA: NMK2 ) is pleased to announce that it has confirmed the date and meeting location with our Transfer Agent, Odyssey Trust Company, for the Company's upcoming Annual Special and General Meeting (the "Meeting").   The Meeting will be set for 10:00 am (Pacific Standard Time) on April 9, 2024 and will be held at the Company's address of record, 3028 Quadra Court in Coquitlam, British Columbia.  Mailout of the Management Information Circular to Grid shareholders will begin on March 13, 2024.  A notice has recently been filed on SEDAR+ confirming these dates.

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Grid Battery Metals Exploration Team On Site at the Clayton Valley Nevada Lithium Project

Grid Battery Metals Exploration Team On Site at the Clayton Valley Nevada Lithium Project

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC TheNewswire - February 2, 2024 - Grid Battery Metals Inc. (the "Company" or "Grid Battery") ( TSXV:CELL ) ( OTC:EVKRF ) ( FRA:NMK2 ) announces that its exploration team has just visited the Clayton Valley Lithium Property in Esmeralda County, Nevada. This lithium project is located in Clayton Valley, Nevada adjacent to the village of Silver Peak, Nevada, about 48 km (29 miles) southwest of Tonopah, Nevada, and 273 kilometers (170 miles) southeast of Reno, Nevada.

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Grid Battery Metals Exploration Team On Site at the Clayton Valley Nevada Lithium Project

Grid Battery Metals Exploration Team On Site at the Clayton Valley Nevada Lithium Project

Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) announces that its exploration team has just visited the Clayton Valley Lithium Property in Esmeralda County, Nevada. This lithium project is located in Clayton Valley, Nevada adjacent to the village of Silver Peak, Nevada, about 48 km (29 miles) southwest of Tonopah, Nevada, and 273 kilometers (170 miles) southeast of Reno, Nevada

At the Clayton Valley Lithium Project, the Company contracted the services of Rangefront Geological ("Rangefront") to perform an updated and revised NI #43-101 Technical Report prior to the 2024 mineral exploration season. The Company proposes to use the results of this Technical Report and prior soil samples, geophysical surveys and drilling on the property, to help identify structure and target areas favorable to lithium accumulation and determine next steps for its overall exploration plan. This may include, but is not limited to, a subsequent drilling program on the property. Mr. Steven McMillin P.G., Qualified Person and Field Operations Manager at Rangefront has recently visited the property.

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Grid Battery Metals Appoints New Qualified Person, Mr. Steven McMillin, P.G. for Its Lithium Projects in Nevada

Grid Battery Metals Appoints New Qualified Person, Mr. Steven McMillin, P.G. for Its Lithium Projects in Nevada

Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce the appointment of Mr. Steven McMillin, P.G. to the position of Qualified Person for its various Nevada-based lithium exploration projects

Mr. McMillin is a highly experienced and well-respected exploration geologist. He has over 35 years of practical mineral exploration experience in the United States, with expertise on many different exploration projects in Nevada. Mr. McMillin is currently a Field Operations Manager at Rangefront Geological ("Rangefront") and is primarily responsible for the set-up and management of Rangefront client drill programs, like those at Grid Battery Metals. At Rangefront, his responsibilities include liaison with vendors and federal/state regulators, establish drill safety, supervise drilling and sampling protocols, and supervise overall site reclamation.

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Grid Battery Metals Files NI 43-101 Report on Texas Spring Lithium Project in Nevada

Grid Battery Metals Files NI 43-101 Report on Texas Spring Lithium Project in Nevada

Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce that the Technical Report for the Texas Spring Lithium Project, dated January 25, 2024, prepared by Mr. Seth Cude, P.G. of Rangefront Geological, has been filed on SEDAR+ (www.sedarplus.ca) and can be viewed on the Company's website at Texas Springs 43-101 Report

Our team recently completed the Phase 1 exploration of the Texas Springs Property in fall 2023 which included both a CSAMT geophysical survey and a detailed soil sampling on a 50 m X 100 m spacing. Results were impressive and on-trend with the results found at the Surge Battery Metals Inc. ("Surge") (TSXV: NILI, OTC: NILIF) Nevada North Lithium Property that adjoins the Texas Spring Property to the north. Our Phase 1 Exploration results included average Lithium Grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to an impressive 5,610 ppm Lithium.

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WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO

WESTERN COPPER AND GOLD APPOINTS SANDEEP SINGH AS CEO

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce the appointment of Mr. Sandeep Singh as Chief Executive Officer of the Company, effective immediately.  Mr. Singh will work closely with Dr. Paul West-Sells who will continue in the role of President in connection with the succession process. Further, Mr. Kenneth Williamson has retired from his role as Director and Interim Chairman.  Current board member, Dr. Bill Williams has taken on the role of Interim Chairman as the Company searches for a replacement.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

As a highly respected mining professional with 20 years of sector expertise, Mr. Singh adds meaningful capital markets and strategic expertise to the Company. He was previously the President and CEO of Osisko Gold Royalties, where he led the successful turnaround of the company. For the fifteen years prior, Mr. Singh was an investment banker focusing on the North American metals and mining sector with BMO Capital Markets, Dundee Securities, and ultimately co-founding Maxit Capital, a leading independent M&A firm. He has advised numerous mining companies on financing alternatives and strategic matters as well as having acted on some of the most complex and value-enhancing M&A transactions in the mining sector. Mr. Singh holds a Bachelor of Mechanical Engineering degree from Concordia University and a Masters of Business Administration degree from Oxford University .

Dr. Bill Williams , Interim Chairman, commented "The Board would like to thank Ken for his dedication, and contributions to the Company. We wish him the best as he focuses his energy on his family and retirement. I'd also like to commend Paul on playing an active role in the succession planning efforts that led to the appointment of Mr. Singh. Paul has been the driving force behind the Casino project since the very beginning and we are hopeful he will continue to play an important role as we build out the management team necessary for the next phases of the Company's growth.

The Board is delighted to have someone of Sandeep's caliber joining the team. Throughout his impressive career, he has shown a dedication to stakeholder value, above all else, and will be aligned with shareholders through a significant personal investment into the Company. With Sandeep's addition, we are strengthening the Company's management capabilities to better unlock the value potential of the Casino project."

Mr. Singh commented "I see tremendous value in Casino as one of very few viable assets in the copper-gold development space. Casino strikes a unique balance of important scale, attractive commodity mix, low jurisdictional risk, and quick payback through the higher-grade core of the deposit. The credible data, underpinning a thorough feasibility study, and remaining upside from additional resources or optimizations to the project provide tangible upside potential. I am excited to be joining the Western Copper and Gold team at a pivotal time for the Company."

The Company also announces a C$3 million private placement (the "Placement") with Mr. Singh for the purchase of 2.22 million common shares at a price of C$1.35 per common share. The closing of the Placement is subject to entering into a customary subscription agreement and the receipt of approvals of the Toronto Stock Exchange and the NYSE American LLC. The shares issued pursuant to the Placement will be subject to a statutory hold period in accordance with applicable Canadian securities laws.

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Dr. Bill Williams "

Dr. Bill Williams
Interim Chairman
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: strengthening the Company's management capabilities to better unlock the value potential of the Casino project, the remaining upside from additional resources or optimizations to the project and the expected closing of the Placement; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/western-copper-and-gold-appoints-sandeep-singh-as-ceo-302069363.html

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2024/22/c1847.html

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Noble Reports on Canada Nickel Drilling Results from Mann Township

Noble Reports on Canada Nickel Drilling Results from Mann Township

(TheNewswire)

Noble Mineral Exploration Inc.

Toronto, Ontario TheNewswire - February 22, 2024 Noble Mineral Exploration Inc. ( "Noble" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to report results form drilling completed by Canada Nickel Company Inc. (" Canada Nickel ") on the optioned Mann Twp properties, as reported in the Canada Nickel news release of February 22, 2024, copied below.  The Mann Twp properties that are the subject of the news release are subject to an Option and Joint Venture Agreement between Noble and Canada Nickel.  That agreement provides Canada Nickel the right to earn up to an 80% interest in the subject properties, with Noble retaining a 20% interest.  The results announced by Canada Nickel arise from exploration conducted by Canada Nickel in earning its up to 80% interest.

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Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Intersects Wide Interval of Copper Mineralization at Piuquenes, Argentina

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIR)(OTCQB:PMMCF) is pleased to report that diamond drillhole PIU-01 (refer figure 1) was completed at a downhole depth of 867m. First assay results are expected shortly. Drillhole PIU 02, the second hole of the current program, has commenced

Hole PIU-01, designed to extend Cu-Au mineralization to depth on the southwestern margin of the Piuquenes Central porphyry, intersected a 160m zone of supergene copper enrichment between 220m and 380m downhole, coincident, and overlapping with primary mineralization from 350 meters. Strong primary mineralization associated with intense porphyry A type quartz stockwork veining is evident from 350m to approximately 650m. From 650m to the end of hole at 867m quartz veining and mineralization continues, becoming progressively less intense with depth. From 830m disseminated hematite/specularite-pyrite-chalcopyrite mineralization is hosted in volcanic host rocks outside the porphyry intrusive and remains open at depth.

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Osisko Metals: Visit us at PDAC 2024 Convention in Toronto this March at Booth 3013

Osisko Metals: Visit us at PDAC 2024 Convention in Toronto this March at Booth 3013

Visit Osisko Metals (TSXV: OM) (OTCQX: OMZNF) at Booth #3013 at the Prospectors & Developers Association of Canada's (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.

About Osisko Metals

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Osisko Metals Sells an Additional 5% Interest in Pine Point to Appian

Osisko Metals Sells an Additional 5% Interest in Pine Point to Appian

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that it has sold an additional 5% ownership interest in Pine Point Mining Limited (" PPML ") to a subsidiary of Appian Natural Resources Fund III LP (" Appian "), a fund advised by Appian Capital Advisory LLP, a London-based private equity group specializing in the acquisition and development of mining assets, for an expected payment of approximately C$8.33 million (based on certain assumptions and estimates outlined below) of which (i) approximately C$6.66 million in cash was paid to Osisko Metals in connection with closing of the transaction, and (ii) the remaining amount (if any), estimated to be approximately C$1.67 million based on certain budget assumptions and estimates of management required to advance the Pine Point Project to a positive FID (as defined below), to be paid as a milestone payment to Osisko Metals upon a positive FID (if at all) (the " Additional Interest Disposition "). PPML is a joint venture entity jointly owned by the Company and Appian, which holds the Pine Point Project. The Additional Interest Disposition is a non-arm's length transaction within the policies of the TSX Venture Exchange (the " Exchange ") as Appian is a non-arm's length party of PPML, an affiliate of the Company.

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Canada Nickel Confirms Discovery at Mann Central, Successfully Completes Initial Drilling at Mann Northwest Property

Canada Nickel Confirms Discovery at Mann Central, Successfully Completes Initial Drilling at Mann Northwest Property

Highlights

  • A new discovery, Mann Central, successfully delineated across 2.5 kilometre strike length by six holes
  • Three additional drill holes at previously announced Mann Northwest discovery, extended mineralization across a 2.7 kilometre strike length
  • Mann Northwest and Mann Central are two of five targets (others are Mann Southeast, Newmarket and Reaume) each with a geophysical footprint larger than Crawford, and a combined strike length of over 25 kilometres

Canada Nickel Company Inc. (" Canada Nickel " or the " Company ") (TSXV: CNC) (OTCQX: CNIKF) is pleased to announce the final set of assay results from its initial exploration program at the Mann Property, a joint venture with Noble Mineral Exploration Inc. ("Noble") whereby Canada Nickel can earn an 80% interest by completing certain cash and share payments and exploration expenditures (see original press release dated November 22, 2021 ).

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