NiCAN Intersects a New Mineralized Zone Near Surface at the Wine Project in Manitoba, Including 9.8 Metres at 1.92% Nickel Equivalent

NiCAN Intersects a New Mineralized Zone Near Surface at the Wine Project in Manitoba, Including 9.8 Metres at 1.92% Nickel Equivalent

NICAN Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to report additional diamond drill assay results from the Wine project in Manitoba intersecting a new mineralized zone near surface. These drill holes, Wine-22-06 and Wine-22-07, were part of NiCAN's initial drilling campaign at the Wine project.

Highlights (complete assays set out in Tables 2 and 3) :

  • New mineralized zone intersected near surface.
  • Diamond drill hole Wine-22-06 intersected two distinct zones of mineralization including 9.8 metres at 2.09% Cu, 1.23% Ni (1.92% NiEq), 0.051% Co, 0.33 g/t Au, 0.016 g/t Pt and 0.12 g/t Pd from 7.4 metres to 17.1 metres.

Note: Nickel Equivalent ("NiEq") was calculated using copper and nickel values only.

Table 1 : Composite Assays Wine-22-06 and Wine-22-07

Drill Hole
ID

From
(m)

To
(m)

Thickness
(m)

Cu
(%)

Ni
(%)

NiEq
(%)

Co
(%)

Au
(g/t)

Pt
(g/t)

Pd
(g/t)

PGM
(g/t)

Wine-22-06

7.4

17.1

9.8

2.09

1.23

1.92

0.05

0.33

0.02

0.12

0.47

Wine-22-06

32.3

35.4

3.1

0.81

0.62

0.89

0.03

0.12

0.00

0.13

0.25

Wine-22-07

9.0

14.0

5.0

0.59

0.23

0.42

0.01

0.10

0.04

0.07

0.21

Brad Humphrey , President and CEO of NiCAN, commented, "The initial diamond drill program at Wine was focused on improving our understanding of the mineralization at the Wine Occurrence. Intersecting additional lenses or pods of mineralization, particularly near surface, is an extremely welcome development. This also supports our view that the Wine gabbro could host several nickel rich pods. NiCAN remains in a strong position with a solid balance sheet and highly prospective nickel-copper assets in stable jurisdictions."

Wine-22-06

Drill hole Wine-22-06 encountered a newly defined lens of nickel mineralization in the upper part of the drill hole, which averaged 1.92% NiEq over 9.8 metres (estimated true width of 6.5 metres). Sulphide mineralization consisted of semi-massive to disseminated pyrrhotite and chalcopyrite with significant copper mineralization near the base of the zone. It is expected that this lens of mineralization will sub-crop.

In addition to the newly defined zone, the drill hole intersected a continuation of a lens of mineralization found in the upper part of drill hole Wine-22-05 (4.1 metres averaging 1.03% Cu, 0.96% Ni (1.31% NiEq)) with 3.1 metres averaging 0.81% Cu, 0.62% Ni (0.89% NiEq), 0.025% Co and 0.25 g/t PGM from 32.3 to 35.4 metres (estimated true width of 2.0 metres) (Figure 1). The drill hole did not intersect the main lens of mineralization found in historical holes and Wine-22-05 as it was too shallow in depth.

All mineralized intersections were hosted by gabbro. The lower intersection in Wine-22-07 was hosted by the distinct light-coloured gabbro that is associated with the main mineralized gabbro zone.

Figure 1: Drill Holes Wine-22-06 and Wine-22-07 in Relation to Drill Holes Wine-22-05 and Wine-22-02 in a Cross Section Looking Towards the South (180⁰) (CNW Group/Nican Ltd.)

Wine-22-07

Drill hole Wine-22-07 (-60⁰) was drilled directly under drill hole Wine-22-06 (-45⁰) with the intent of intersecting the main zone of mineralization defined in drill hole Wine-22-05. The drill hole intersected the base of the newly defined shallow mineralization seen in Wine-22-06 (5.0 metres averaging 0.59% Cu, 0.23% Ni (0.42% NiEq), 0.01% Co and 0.21 g/t PGM from 9.0 to 14.0 metres). The Wine-22-07 intersection averaged 0.42% NiEq over an estimated true width of 3.3 metres. The upper lens may have a strike of 330⁰ and may correlate to anomalous copper mineralization seen in the upper parts of historical drill holes EEL-346 and RAD07-01. The main mineralized lens is currently interpreted to have a strike of 30⁰ (Figure 2 and 3).

Drill hole Wine-22-07 did not intersect the main zone as it passed through a gap between the upper lens and the main lens.

Figure 2: Plan View of Drill Collars and Traces in the Wine Occurrence Area (CNW Group/Nican Ltd.)

Figure 3: Drill Holes Wine-22-06 and Wine-22-07 Presented in a Cross Section Looking Southwest (210⁰) with Historical Holes* (CNW Group/Nican Ltd.)

* Historical drill hole assays are listed in Table 4

Figure 4: Upper Mineralized Zone in Drill Hole Wine-22-06 with Assay Intervals Marked (CNW Group/Nican Ltd.)

2022 Exploration Program

The 56.8 km 2 Wine property is located west of Snow Lake in Manitoba (Figure 5). The initial 2022 exploration program included an airborne geophysical survey, partial resampling of a historical drill hole, downhole geophysical (electro-magnetic) surveys and 17 diamond drill holes, 1,600 metres in total, testing an area known as the Wine Occurrence, as well as seven other nearby geophysical anomalies (Figure 6). The objective of this program was to confirm the presence of nickel-copper mineralization at the Wine Occurrence and improve NiCAN's understanding of the geological model and the orientation of the mineralization, which will be used to better target future drilling programs.

NiCAN anticipates receiving and releasing additional assay and geophysical survey results, following quality control, over the next several weeks. The results from this initial exploration work will be used to refine the geological model and to design a follow up Phase 2 exploration program.

Assay, Analysis and QA/QC

All core samples were sent to the Saskatchewan Research Council ("SRC") in Saskatoon (an accredited laboratory) by secure transport for base and precious metal assay. Base metals were assayed by their ICP3 package, which includes a total of 35 analytes by ICP-OES (Inductively Coupled Plasma – Optical Emission Spectroscopy). Partial digestions were performed on a 0.5 gram aliquot of sample pulp which was digested in a mixture of HCl:HNO3, in a hot water bath and then diluted to 15 ml using deionized water. Over-limits for copper, nickel and cobalt had an aliquot of 1.0 gram sample pulp digested in a concentration of HCl:HNO3. The digested volume was then made up with deionized water for analysis by ICP-OES. Fire Assay Techniques involved a 30 gram aliquot of sample pulp which was mixed with a standard fire assay flux in a clay crucible and a silver inquart added prior to fusion. After the mixture was fused, the melt was poured into a form which was cooled. The lead bead was then recovered and cupelled until only the precious metal bead remained. The bead was then parted in dilute HNO3. The precious metals were then dissolved in aqua regia and then diluted for analysis by ICP-OES

Laboratory Quality Control protocols were applied to the assay sample package by SRC. NiCAN submitted a regular schedule of standards, blanks and duplicates into the sample stream for Quality Control measures. Drill core samples are split in half using a diamond saw with half saved for reference and the other half shipped for assay. In the case of duplicate samples the half core is quarter split with the two quarter splits sent for separate assay.

NiCAN does not have any historic QA/QC data for the 2007 or earlier drill results.

Qualified Person

Mr. Bill Nielsen , P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this press release.

Investor Awareness Campaign

NICAN Limited has entered into an advertising and investor awareness campaign with Dig Media Inc. and Investing News Network (INN). INN is a private company headquartered in Vancouver, Canada , dedicated to providing independent news and education to investors since 2007. For the 12-month term of the agreement, INN will provide advertising to increase awareness of the issuer. INN does not provide Investor Relations or Market Making services. The cost of the campaign is C$49,410 , payable in quarterly installments over the term of the agreement. INN currently holds no securities in NICAN Limited.

About NiCAN

NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba, Canada .

To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com .

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NICAN Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

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

Figure 5: Wine Project Location (CNW Group/Nican Ltd.)

Figure 6: Historical Drill Hole and 2022 Drill Hole Locations (CNW Group/Nican Ltd.)

Note: Wine-22-06 and Wine-22-07 were drilled from the same drill pad

Table 2 : Diamond Drill Hole Wine-22-06 Assay Results

Drill Hole
ID

From
(m)

To
(m)

Length
(m)

Co
(%)

Cu
(%)

Ni
(%)

Au
(g/t)

Pt
(g/t)

Pd
(g/t)

Ag
(g/t)

PGM
(g/t)

NiEq
(%)

Wine 22-6

6.4

7.4

1.0

-

0.08

0.04

0.01

-

0.02

0.70

0.03

0.07

Wine 22-6

7.4

8.3

0.9

0.03

0.22

0.65

0.01

-

0.20

1.40

0.21

0.73

Wine 22-6

8.3

9.0

0.8

0.10

1.72

2.08

0.22

-

0.23

7.50

0.46

2.65

Wine 22-6

9.0

10.0

1.0

0.11

1.20

3.67

0.06

0.04

0.15

4.00

0.25

4.07

Wine 22-6

10.0

11.0

1.0

0.09

1.74

2.10

0.15

0.02

0.12

7.30

0.30

2.68

Wine 22-6

11.0

12.0

1.0

0.07

1.40

1.77

0.08

-

0.11

5.80

0.19

2.24

Wine 22-6

12.0

13.0

1.0

0.04

1.06

0.93

0.07

0.06

0.11

5.90

0.25

1.29

Wine 22-6

13.0

14.0

1.0

0.01

1.71

0.17

0.37

-

0.11

7.70

0.48

0.74

Wine 22-6

14.0

15.0

1.0

0.03

4.62

0.71

1.01

0.05

0.07

20.40

1.13

2.24

Wine 22-6

15.0

16.0

1.0

0.04

3.55

0.93

0.70

-

0.08

21.20

0.79

2.11

Wine 22-6

16.0

16.5

0.5

-

0.80

0.04

0.28

-

0.01

3.50

0.29

0.31

Wine 22-6

16.5

17.1

0.6

0.01

5.60

0.19

0.69

-

0.05

23.40

0.73

2.06

Wine 22-6

17.1

18.0

0.9

0.01

0.28

0.14

0.01

-

0.04

1.50

0.05

0.24

Wine 22-6

31.0

32.3

1.3

-

0.03

0.01

-

-

0.01

1.30

0.01

0.02

Wine 22-6

32.3

33.0

1.0

0.02

0.75

0.61

0.12

-

0.11

5.90

0.23

0.85

Wine 22-6

33.0

34.0

1.0

0.03

1.18

0.63

0.17

-

0.14

7.00

0.31

1.02

Wine 22-6

34.0

34.7

0.7

0.02

0.51

0.45

0.06

-

0.09

3.20

0.15

0.62

Wine 22-6

34.7

35.4

0.7

0.02

0.40

0.40

0.05

-

0.10

2.70

0.15

0.53

Wine 22-6

35.4

36.0

0.6

-

0.05

0.01

-

-

-

0.10

-

0.03

Wine 22-6

36.0

36.3

0.3

-

0.02

0.01

-

-

-

0.10

-

0.02

Wine 22-6

36.3

37.1

0.8

0.01

0.80

0.22

0.05

-

0.08

4.80

0.14

0.49

Wine 22-6

37.1

38.1

1.0

-

0.26

0.02

0.01

-

0.01

2.40

0.02

0.11

Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)

Table 3 : Diamond Drill Hole Wine-22-07 Assay Results

Drill Hole
ID

From
(m)

To
(m)

Length
(m)

Co
(%)

Cu
(%)

Ni
(%)

Au
(g/t)

Pt
(g/t)

Pd
(g/t)

Ag
(g/t)

PGM
(g/t)

NiEq
(%)

Wine 22-7

8.0

9.0

1.0

-

0.07

0.01

-

-

0.01

0.30

0.01

0.04

Wine 22-7

9.0

9.6

0.6

0.01

0.50

0.18

0.06

-

0.04

7.20

0.10

0.36

Wine 22-7

9.6

10.6

1.0

0.01

0.78

0.18

0.14

-

0.08

6.90

0.22

0.46

Wine 22-7

10.6

11.6

1.0

0.01

0.51

0.33

0.07

-

0.07

3.90

0.14

0.52

Wine 22-7

11.6

12.6

1.0

0.02

0.67

0.40

0.15

0.09

0.14

5.60

0.38

0.64

Wine 22-7

12.6

13.6

1.0

-

0.44

0.06

0.04

-

0.04

2.80

0.09

0.22

Wine 22-7

13.6

14.0

0.4

0.01

0.64

0.18

0.11

0.25

0.06

3.50

0.42

0.41

Wine 22-7

14.0

15.0

1.0

-

0.06

0.01

-

-

-

0.10

0.01

0.03

Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)

Table 4 : Historical Diamond Drill Hole Assay Composites

Drill Hole
ID

From
(m)

To
(m)

Length
(m)

Co
(%)

Ni
(%)

Cu
(%)

NiEq
(%)

Au
(g/t)

Pt
(g/t)

Pd
(g/t)

PGM
(g/t)

RAD07-01

55.70

76.02

20.37

0.05

1.38

2.14

2.09

0.40

0.13

0.27

0.80

EEL-346

54.00

70.40

16.47

-

0.85

1.50

1.35

0.16

-

-

-

incl EEL-

346

60.32

70.41

10.10

-

1.13

1.81

1.73

0.15

0.10

0.29

0.54

EEL-302

51.51

64.43

12.82

-

0.52

0.97

0.84

0.21

0.12

0.16

0.49

incl EEL-

302

51.51

57.90

6.32

-

0.93

0.88

1.32

0.27

0.12

0.13

0.52

EEL-315

68.75

68.90

0.15

-

1.20

3.08

2.20

-

-

-

-

Note: NiEq includes Ni and Cu values only - Ni+(Cu x 0.33)

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SOURCE Nican Ltd.

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NiCAN Commences Drilling at Wine Nickel Property, Manitoba, Canada

NiCAN Commences Drilling at Wine Nickel Property, Manitoba, Canada

NiCan Limited ("NiCAN" or the "Company") (TSX-V: NICN) has commenced diamond drilling at its Wine Property located in the Snow Lake area, Manitoba, Canada (Figure 1). The drill rig has mobilized to site and is currently coring the first hole of the Phase Three ("Phase III") drilling program consisting of a minimum of 1,500 meters.

Figure 1: Wine Project Location (CNW Group/Nican Ltd.)

Highlights:
  • Phase III drill program has commenced at the high-grade Wine Nickel Property with the following objectives:
    • To expand previously defined nickel-bearing zones to the east of the Wine Occurrence; and
    • To drill test newly expanded target areas of more than 6 km along strike.
  • Recent geophysical and soil geochemical results assisted in prioritizing multi-anomaly target areas for subsequent drill testing.

Brad Humphrey , President, and CEO of NiCAN commented, "We are very pleased to be back on the ground, drill testing several targets that we have interpreted to be on strike with the two mineralized horizons defined on the property to date. NiCAN remains in a strong position with a solid balance sheet and two highly prospective nickel sulfide projects in established mining jurisdictions."

Phase III Wine Drill Program

At the Wine Project, NiCAN is drilling a minimum of 1,500 meters to test multiple conductive targets identified by recently completed surface time-domain electromagnetic ("TDEM"), borehole and surface surveys, combined with re-processed Versatile Time Domain Electromagnetic ("VTEM") airborne geophysical survey, which was completed in 2022 (see press release dated November 14, 2022 ). Results from a geochemical survey, also completed earlier this year, assisted in prioritizing the drill targets. A significant number of conductive sources have been defined over a strike length of 6 kilometers that merit drill testing. These have been geophysically modelled and drill holes have been designed to effectively intersect the suspected sulphide bodies defined by these models.

The initial diamond drill targets are following up on mineralization intersected during the previous drill program that defined varying quantities of disseminated to massive sulphide nickel-bearing mineralization in a zone 650 meters east of the Wine Occurrence. Most notable were holes Wine 23-08 and Wine 23-07 in which varying degrees of pyrrhotite and chalcopyrite mineralization were intersected in two relatively shallow zones. Assay results returned elevated copper and nickel values over core lengths of more than 10 meters (see press releases dated May 24, 2023 , and June 21, 2023 ). NiCAN is currently following up on these new zones to better understand their orientation and extent.

The Phase III Wine drill program has two primary objectives. Initially, NiCAN anticipates expanding previously defined nickel-bearing zones located to the east of the Wine Occurrence. Downhole and TDEM surveys have defined multiple conductors along a distinct stratigraphic horizon within the Wine Gabbro. Humic soil geochemical results have shown anomalous Ni-Cu values associated with these electromagnetic ("EM") responses supporting additional drill testing.

The second objective of NiCAN's Phase III drill program is to identify additional nickel bearing mineralized zones associated with newly defined geophysical targets interpreted to be along strike from the Wine Occurrence by distances of up to 4.8 km. These are new targets that have not been drill tested in the past.

NiCAN continues to follow up on the significant results returned from previous diamond drilling, including:

  • Diamond drill hole Wine 22-5 intersected 27.3 metres of 2.01% Ni, 1.81% Cu (2.28% NiEq)
  • Diamond drill hole Wine 22-6 intersected 9.8 metres of 1.23% Ni, 2.09% Cu (1.71% NiEq)
  • Diamond drill hole Wine 22-3 intersected 8.6 metres of 1.89% Ni, 1.01% Cu (1.92% NiEq)
  • Diamond drill hole Wine 23-16 intersected four zones of mineralization including 12.6 metres of 1.52% Ni, 2.01% Cu (1.93% NiEq)
  • Diamond drill hole Wine 23-17 intersected two zones of mineralization including 23.5 meters of 1.59% Ni, 1.76% Cu (1.91% NiEq)

Note: Nickel equivalent grades include nickel and copper values only and assume recoveries of 85% for nickel and 85% for copper based on comparable deposits. Nickel price: US$10.00 /lb; copper price US$3.75 /lb.

Analogies to Historical Lynn Lake Nickel Deposits

NiCAN believes that the nickel mineralization hosted by the Wine Gabbro may have analogies to the nickel-copper deposits in the Lynn Lake area where approximately 22.2 million tonnes averaging 1.0% nickel and 0.5% copper was historically mined. The Farley Mine consisted of multiple lenses of mineralization contained within a 4.2 km 2 gabbro body. The Wine Gabbro contains numerous similarities and has seen very little exploration for nickel-copper deposits.

Qualified Person

Mr. Bill Nielsen , P.Geo, a consultant to NiCAN, who is a qualified person under National Instrument 43-101 – Standards of Disclosure of Mineral Projects ("NI 43-101") has reviewed and approved the scientific and technical information in this news release.

About NiCAN

NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in well-established mining jurisdictions in Manitoba, Canada .

www.nicanltd.com

To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the size and timing of the drill program, results of the drill program, interpretations of the various surveys, NiCAN's ability to identify mineralization similar to that found in prior drill holes, the benefits and the potential of the properties of the Company; future commodity prices (including in relation to NiEq calculations); drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

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

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NiCAN Provides Details on Upcoming Drill Program at Wine Nickel Property, Manitoba, Canada

NiCAN Provides Details on Upcoming Drill Program at Wine Nickel Property, Manitoba, Canada

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to provide details on its upcoming Phase III drill program on the Wine Property, located in the Snow Lake area of Manitoba, Canada (Figure 3). Permits are in place, a drill contractor has been selected, and preparation work is underway. Initially, Phase III drilling will consist of a 1,500 to 2,000-meter diamond drilling program, which is scheduled to commence in October 2023 . The Phase III program will focus on expanding the recently identified nickel-bearing zones to the east of the Wine Occurrence and test newly defined geophysical targets along strike of the Wine Occurrence over distances of up to 4.8 km.

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NiCAN Identifies New Mineralized Zones at its Wine Nickel Property, Manitoba, Canada

NiCAN Identifies New Mineralized Zones at its Wine Nickel Property, Manitoba, Canada

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) has intersected multiple new zones of nickel–bearing mineralization to the east of the known high-grade nickel-copper ("Ni–Cu") Wine Occurrence during its Phase II drill program on the Wine Nickel Property in Manitoba, Canada (Figure 5). These new zones of mineralization significantly expand the exploration target area.

Highlights:
  • New nickel bearing mineralized zones identified within the Wine Gabbro.
  • Initial interpretation suggests that these new mineralized zones may occupy a specific horizon within the central region of the Wine Gabbro. Geophysical anomalies (VTEM conductors) can be traced for several kilometers to the northeast and southwest along this trend.
  • Geophysical and geochemical surveys as well as diamond drilling are planned for the third quarter of 2023.

Brad Humphrey , President, and CEO of NiCAN, stated, "We are very happy with the results of the Wine Phase II drill program and the intersection of the new mineralized nickel bearing zones. Importantly, these new occurrences of disseminated and massive sulphides suggest the Wine Gabbro hosts multiple mineralized pods like those seen in the Lynn Lake area. Interpretive work indicates that there are several horizons within the Wine Gabbro that require testing with geophysics, geochemistry, and subsequent diamond drilling. NiCAN remains in a strong position with a solid balance sheet and highly prospective nickel sulphide projects in established mining jurisdictions."

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NiCAN Receives $300,000 Grant from Manitoba Mineral Development Fund

NiCAN Receives $300,000 Grant from Manitoba Mineral Development Fund

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) has received approval for a $300,000 grant from the Manitoba Mineral Development Fund (the "MMDF") to support NiCAN's exploration activities at its Wine Project located in the Snow Lake Flin Flon area, Manitoba, Canada . The Company has received the first $150,000 of the grant, with the remainder expected in June 2023.

Nican Logo (CNW Group/Nican Ltd.)

"NiCAN greatly appreciates the support from the Manitoba Mineral Development Fund and the Manitoba Chambers of Commerce," Brad Humphrey , President and CEO of NiCAN commented. "This funding is earmarked for continued exploration at the Wine Project, which has returned truly impressive drill results to date. We look forward to announcing additional exploration results from the Wine Gabbro area in the coming weeks. The Company also plans to complete geophysical and geochemical surveys that will drive the exploration program for our next phase of drilling in this area."

The MMDF is a $20-million provincial fund, launched in July 2020 by the Manitoba Government and administered by the Manitoba Chambers of Commerce. This fund is specifically dedicated to providing funding for and supporting economic development and mining projects in northern Manitoba .

About NiCAN

NiCAN Limited is a mineral exploration company, trading under the symbol "NICN" on the TSX-V. The Company is actively exploring two nickel projects , both located in the well-established mining jurisdiction of Manitoba, Canada .

To receive news releases by e-mail, please register using the NiCAN website at www.nicanltd.com.

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains certain "forward-looking information" under applicable securities laws concerning the proposed financing, business, operations and financial performance and condition of NiCan Limited. Forward-looking information includes, but is not limited to, the quantum of the grant; the timing for receipt of the balance of the grant; intended use of proceeds; drilling and other exploration potential; costs; and permitting. Forward-looking information may be characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward-looking information includes changes in market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

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

SOURCE Nican Ltd.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/June2023/01/c1569.html

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NiCAN Expands the Wine Occurrence at the Wine Project, Manitoba, Canada Multiple Zones Intersected Including 1.91% NiEq over 23.5 Meters

NiCAN Expands the Wine Occurrence at the Wine Project, Manitoba, Canada Multiple Zones Intersected Including 1.91% NiEq over 23.5 Meters

NiCan Limited ("NiCAN" or the "Company") (TSXV: NICN) is pleased to announce that its 2023 winter drilling program on the Wine Property located in the Snow Lake area, Manitoba, Canada (Figure 2) has expanded several mineralized zones at the Wine Occurrence.

Highlights:
  • Diamond drill hole Wine 23-16 intersected four zones of mineralization including 12.6 meters at 1.52% Ni and 2.01% Cu (1.93% NiEq), from 48.3 to 60.9 meters (Table 1).
  • Diamond drill hole Wine 23-17 intersected three zones of mineralization including 23.5 meters at 1.59% Ni and 1.76% Cu, (1.91% NiEq), from 18.6 to 42.1 meters (Table 1, Figure 1).

Note: Nickel equivalent grades include nickel and copper values only and assume recoveries of 85% for nickel and 85% for copper based on comparable deposits. Nickel price: US$10.00 /lb; copper price US$3.75 /lb.

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Aston Bay and American West Metals Announce Geophysical Program Set to Begin at the Storm Copper Project, Canada

Aston Bay and American West Metals Announce Geophysical Program Set to Begin at the Storm Copper Project, Canada

Geophysical program designed to deliver a pipeline of priority drill targets for new copper discoveries

Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to provide details on the upcoming geophysical surveys and exploration program at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. The program will be conducted by American West Metals Limited ("American West"), who is the operator of the Project. American West has completed the required expenditures to earn an undivided 80% interest in the Project. American West will be solely responsible for funding the program

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WESTERN COPPER AND GOLD ANNOUNCES RIO TINTO EXERCISE OF THEIR ANTI DILUTION RIGHT

WESTERN COPPER AND GOLD ANNOUNCES RIO TINTO EXERCISE OF THEIR ANTI DILUTION RIGHT

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) announces it has completed a private placement with Rio Tinto Canada Inc. ("Rio Tinto") pursuant to Rio Tinto's subscription rights as a result of the Company's recent private placement with the incoming CEO.

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

Rio Tinto acquired 239,528 common shares of the Company at a price of C$1.35 per share for proceeds of C$323,363 , allowing Rio Tinto to maintain its interest of approximately 9.7%.

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,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/25/c5284.html

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Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project

Awalé Hits 45.7 g/t Gold over 32m at the Odienné Project

HIGHLIGHTS

  • 26 g/t gold over 57m, 1487 gram meters gold from 164m downhole in OEDD-83

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Canadian North Resources Inc. Announces Amendments to Consultants' Options

Canadian North Resources Inc. Announces Amendments to Consultants' Options

Canadian North Resources Inc. ("the Company," TSXV: CNRI; OTCQX: CNRSF; FSE: EO0 (E-O-zero)) announces that, subject to acceptance by the TSX Venture Exchange, it proposes to amend the exercise price of options to purchase a total of 1,600,000 Common Shares from $2.45 to $1.70 per share, for options previously granted to consultants to the Corporation.

About Canadian North Resources

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SKRR Exploration Inc. Announces Clarification on Prior Agreement with Red Cloud

SKRR Exploration Inc. Announces Clarification on Prior Agreement with Red Cloud

SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) (" SKRR " or the " Company ") announces a previous engagement of Red Cloud Financial Services Inc. (" Red Cloud ") for certain capital market advisory services pursuant to an advisory agreement dated December 8, 2021 (the " Agreement ") was not accepted by the TSX Venture Exchange (the " Exchange ") as it did not fully comply with Exchange policies.

SKRR Exploration Logo (CNW Group/SKRR EXPLORATION INC.)

Red Cloud assisted in overall marketing of the Company. Certain of the services enumerated in the Agreement constituted promotional activity within the scope of Policy 3.4 of the Exchange. The Agreement was for an initial term of twelve months and automatically renewed on a month-to-month basis until terminated by either party on thirty days' prior written notice. The Agreement was formally terminated in June 2023 . Under the engagement, Red Cloud was paid an initial fee of $150,000 for the initial twelve-month period and $10,000 per month thereafter. Red Cloud is arm's length to the Company.

SKRR is a Canadian-based precious and base metal explorer with properties in Saskatchewan – one of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class uranium, precious and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan . SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.

ON BEHALF OF THE BOARD

Sherman Dahl
President & CEO
Tel: 250-558-8340

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.

Forward-Looking Information

This news release contains "forward–looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to the Agreement, and other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR at www.sedarplus.ca . There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, decrease in the price of gold, copper, nickel, uranium and other metals, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

SOURCE SKRR Exploration Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2024/21/c5246.html

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Interra Copper Issues Letter to Shareholders

Interra Copper Issues Letter to Shareholders

Interra Copper Corp. (CSE: IMCX) (OTCQB: IMIMF) (FSE: 3MX) ("Interra" or the "Company") is pleased to issue the following letter from its Chairman, President & Chief Executive Officer, Rick Gittleman, updating shareholders on the Company's plans for unlocking value from its assets while executing on a prudent yet strategic work plan in 2024.

To our fellow shareholders of Interra Copper Corp.,

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