NORDEN CROWN COMPLETES SUMMER DRILLING EXPLORATION PROGRAM AT THE BURFJORD COPPER-GOLD PROJECT, NORWAY

NORDEN CROWN COMPLETES SUMMER DRILLING EXPLORATION PROGRAM AT THE BURFJORD COPPER-GOLD PROJECT, NORWAY

Norden Crown Metals Corp. (" Norden Crown " or the " Company ") (TSXV: NOCR) (OTC: NOCRF) ( Frankfurt : 03E) is pleased to announce completion of a 3,499.40 m metre diamond drilling program at its 100% owned Burfjord Copper Project (" Burfjord " or the " Project ") in partnership with Boliden Mineral AB ("Boliden) in northern Norway . The primary objective of the drill program was to evaluate the copper-gold grade and continuity of newly established targets within areas of extensive historical mining and trenching.

Norden Crown intersected previously untested IOCG style copper mineralization, which subsequently became the focus of the drilling program.  Norden Crown is excited to share the assay results in the coming months.

Norden Crown simultaneously completed a 6,800 - sample soil survey, a 3-week geological and structural mapping campaign and borehole electromagnetic geophysical surveys during the exploration program.

Previous drilling by Norden Crown (see News Release dated March 20, 2019) at Burfjord returned compelling results including an intercept of 32 metres averaging 0.56% copper and 0.26 g/t gold (including 3.46 metres of 4.31% copper and 2.22 g/t gold) below a cluster of historical mine workings at the Gamlegruva target area 1,2 . Previous drilling confirmed presence of high grade carbonate-jasper-magnetite-chalcopyrite-bornite veins cutting through pervasively magnetite-albite altered gabbro with broad mineralized zones within carbonate-magnetite-chalcopyrite stockworks and breccias enveloping these high-grade veins, under the historical workings. Historical drilling on the Project (Cedarsgruven) was reported to have returned 7.0 metres averaging 3.6% copper 3 .

Patricio Varas , Chairman and CEO of Norden Crown stated, "The joint Norden-Boliden exploration team has made significant advancements at Burfjord this summer.  The approach was to carry out an integrated exploration program employing an excellent team to carry out diamond drilling, geological mapping, geochemical sampling, and borehole geophysics to build a full, multi-disciplined, picture of the prospectivity around so many of the copper and gold bearing workings.  The programs were optimized using a dynamic exploration workflow with follow-up and new target drill testing resulting from new insights around the multiple targets during this program.  We await with excitement to receive the analysis from a number of core samples that will surely confirm highly indicative copper results, particularly in the Gamlegruva prospect area where typical IOCG mineralization was confirmed.  Plans are already being formulated to carry out a follow-up drill program in the winter and we look forward to using the new data and knowledge gained from the various surveys to confirm and test mineralization of economic importance."

Diamond Drilling

Norden Crown completed 3,499.40 metres of diamond drilling in 18 drill holes  designed to test a combination of geological, geochemical, and geophysical targets identified from 2020 and 2021 field programs (Figure 1).  Drilling commenced on July 4 th and finished on September 4 th , 2022.  All exploration staff and contractors have now demobilized from site and a small road remediation operation is underway.

Most of the drilling this year has focused on the Eastern Limb of the Burfjord anticline (Gamlegruva and A-Gruva target areas) which constitutes a ~5-kilometre-long trend of discontinuously outcropping copper occurrences and historical mine adits that contain copper sulphide mineralization (chalcopyrite and bornite) associated with magnetite-hematite-jasper-bornite-chalcopyrite veins and carbonate-magnetite-chalcopyrite vein stockworks and breccias, hosted in sodic and potassic altered pillow basalts and gabbros (Figure 1).

Holes at Gamlegruva tested a gabbro unit associated with a magnetic feature (Figure 2) and surface copper bearing vein stockworks.  Hole BUR-22-012 intersected several significant magnetite-jasper-hematite-bornite-carbonate-chalcopyrite veins and adjacent zones of carbonate-magnetite-hematite-quartz-chalcopyrite vein stockwork and breccias.

Follow up drill holes (BUR-22-013 and BUR-22-017) were completed to test the down dip and along strike (northward step outs up to 130 metres) continuity of mineralization intersected in BUR-22-12.  These drillholes confirmed the continuity of significant IOGC style copper mineralization within a pervasively magnetite-albite altered gabbro unit.

The magnetic feature associated with newly intersected IOCG mineralization extends southward and continues under the Caledonian nappe complex and northwards along the host gabbro unit (Figures 1 and 2).  Additional drilling is required to test this target at depth.

The first batch of samples from the program is currently being assayed with results expected in the coming weeks.  The final batch of samples is now at the assay laboratory and Norden Crown looks forward to sharing the results of this drill program in the coming months.  Planning is already underway to continue building on the newly discovered copper mineralization at Gamlegruva.

Geological Mapping

A total of 3 weeks of geological mapping has been completed at Burfjord in 2022. Mapping focused on tracing the surface expression of the copper mineralized vein trend intersected in BUR-22-012 and follow up drillholes (Figure 1).

Several discontinuously outcropping magnetite-hematite-jasper-chalcopyrite-bornite and carbonate-magnetite-chalcopyrite-quartz veins (up to 1.5m wide) with halos of ankerite-jasper-magnetite-chalcopyrite stockwork were identified along a trend which

Norden Crown Metals Corp Logo (CNW Group/Norden Crown Metals Corp.)

extends the zone along strike for at least 450 meters north of the newly identified mineralized trend at Gamlegruva. This significantly increases Norden's confidence in the target which will be a focus for drilling in Q1 2023.

Furthermore, mapping across the eastern limb has been completed with the aim of collecting structural data on copper-bearing veins.  The information compiled from the geological and structural mapping program is being fed into the GIS database in order to improve the current geological modelling and technical understanding of the target areas and will aid with the planning of exploration programs and drilling envisioned for the 2023 winter.

Borehole Geophysics

Geophysical surveys were conducted between July 22 nd and September 7 th on boreholes drilled between 2018 and 2022. Fourteen (14) drillholes were surveyed with downhole electromagnetics, furthermore, fourteen (14) drillholes were also surveyed with an optical televiewer and petrophysical surveys were carried out on 15 drillholes.

Preliminary results from the borehole electromagnetics have identified two significant off-hole conductive features at the Gamlegruva target area.  These results are being evaluated to place these features in a geological context based on previous mapping and drillhole data.

Optical televiewer data has been collected and processed and is currently being interpreted. These data will be used to establish the orientation of copper mineralized veins and to further constrain the 3-dimensional geometry of the target areas.

Petrophysical survey data is being processed which will be used to refine magnetic models at Burfjord to highlight regions of increased mineralized fluid flow.

Soil Sampling

A total of 6,800 soil samples were collected over the Burfjord licences this summer. Grids were planned with 20-meter sample spacing and line spacing of 100m between east-west lines.

An orientation soil survey consisting of 2,400 samples over an area of 5.1 sq-km was completed between July 1 st and July 15 th over the Kisgangen target area to test the suitability of the exploration method at Burfjord.  Several anomalies were identified over known copper occurrences and the survey was consequently expanded between August 5 th and August 15 th over the northern licence area.  An area of 9.5 sq-km was covered with the collection of an additional 4,400 samples, encompassing the Cedarsgruven and Magnusgruven target areas (see Figure 2), which have seen little to no modern exploration.

Samples are currently being analysed and preliminary results will be used to guide the planning of follow up drilling.  Anomalies will be evaluated and ranked in advance of follow-up drill targeting at the various target zones including Cedarsgruven, where 2021 drilling returned 12 metres averaging 1.27% Cu in hole BUR-21-011 (see News Release dated April 11 th , 2022). Magnusgruven has not yet been drill tested.

Figure 1. Overview map of 2022 drillholes. (CNW Group/Norden Crown Metals Corp.)

Overview of the Burfjord Project

The Project, located in the Kåfjord Copper Belt near Alta, Norway , is highly prospective for Iron Oxide Copper Gold (IOCG) and Sediment Hosted Copper mineral deposits which contribute significantly to copper production globally.

Burfjord is comprised of six exploration licenses totalling 5,500 hectares. Within the license area, during the nineteenth century, copper mineralization was mined from over 30 historical mines and prospects developed along the flanks of a prominent 4 x 6-kilometre anticlinal fold consisting of interbedded sedimentary and volcanic rocks. Many of the rocks in the anticline are intensely hydrothermally altered and contain sulphide mineralization.

The high-grade copper gold veins at Burfjord, that were historically mined at cut- off grades of 3-5% copper, are surrounded by envelopes of stockwork veins or disseminations of copper mineralization extending tens to hundreds of metres laterally into the host rocks. Norden Crown believes this mineralization has economic potential and represents an attractive bulk tonnage exploration drilling target. Copper bearing veins in the area are dominated by ferroan carbonate, sodium-rich minerals, and iron-oxide minerals (magnetite and hematite), but also contain the economically important minerals chalcopyrite, bornite and chalcocite in addition to cobalt-rich pyrite as generally coarse-grained (often 0.5 centimetre to multi-centimetre scale) disseminations in the veins.

Burfjord Joint Venture Terms

Norden Crown entered into an option agreement (the "Agreement") with Boliden in respect to Burfjord (see June 10, 2020 News Release).  In order to earn its 51% interest in the Project, Boliden must fund 100% of the exploration programs by spending US$6 Million over the next four years.  Work on the exploration programs is directed by a joint Norden Crown-Boliden Technical committee.

About Norden Crown Metals Corp.

Norden Crown is a mineral exploration company focused on the discovery of Zinc, Copper, Silver, Gold, Cobalt and Nickel deposits in exceptional, historical mining project areas spanning Sweden and Norway . The Company aims to discover new economic mineral deposits in known mining districts that have seen little or no modern exploration. The Company is led by an experienced management team and technical team, with successful track records in mineral discovery, mining development and financing.

References

1.         Intercept reported as seen in drill core. The true width is estimated at 85-100% of the reported interval.

2.         See Norden Crown's April 11, 2022, News Release for discussion of analytical methods, QA/QC and core handling protocols.

3.         Source: NGU Deposit Factsheet, Deposit Area 1943-010, 1997. Norden Crown's property reviews have confirmed the geologic occurrence of mineralization on the Project and considers the historic exploration data to be relevant as reported in public disclosures and government reports.

Qualified Person

Daniel MacNeil , P.Geo, a Qualified Person as defined by National Instrument 43-101, has read and approved all technical and scientific information related to Burfjord contained in   this news release.  Mr. MacNeil is Vice President Exploration for Norden.

On behalf of Norden Crown Metals Corp.

Patricio Varas , Chairman and CEO

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

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed "forward‐looking statements". Forward‐looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to future outlook and anticipated events, such as the successful completion of the exploration program (consisting of diamond drilling, mapping, prospecting, outcrop sampling, airborne magnetic and ground electromagnetic geophysical surveys) and Norden Crown's belief in the economic potential and attractiveness of Burfjord as a bulk tonnage target as discussed herein, the dates the various segments of the exploration program will commence, the duration of various segments of the exploration program, the anticipated timing of the results of the exploration programs described herein and the planned uses of the resulting data. Although Norden Crown believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the ability of the various contracted entities to complete their duties within the time expected by the Company; inclement weather conditions that may impede, delay or stop all or part of the exploration program; the effects of the Covid-19 pandemic or other pandemics or epidemics; mechanical breakdowns of equipment used in the exploration programs, changes in economic conditions or financial markets; the ability of Norden Crown to obtain the necessary consents required to explore, drill and develop the projects and, if obtained, to obtain such consents in a timely fashion relative to Norden Crown plans and business objectives for the projects; the general ability of Norden Crown to drill test its projects and find mineral resources; if any mineral resources are discovered or acquired, the Company's ability to monetize any such mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of Norden Crown management on the date the statements are made. Except as required by law, Norden Crown undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

Figure 2. Overview map of Burfjord target areas, outline of 2022 soil surveys and RTP Aerial Magnetics. Note continuation of magnetic high south of Gamlegruva target area below the Caledonian nappe complex. (CNW Group/Norden Crown Metals Corp.)

SOURCE Norden Crown Metals Corp.

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NORDEN CROWN RECEIVES NOTICE OF BOLIDEN'S FIRST OPTION ABANDONMENT OF THE BURFJORD AGREEMENT.

NORDEN CROWN RECEIVES NOTICE OF BOLIDEN'S FIRST OPTION ABANDONMENT OF THE BURFJORD AGREEMENT.

Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) has received a first option abandonment notice from Boliden AB ("Boliden") withdrawing from the Burfjord project option agreement.

As per the contract terms, Boliden will leave the project in good standing until the end of the 90 day termination notice period, and will fulfill all contractual obligations as defined by the contract provision.

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NORDEN CROWN CONTINUES TO INTERSECT COPPER AT BURFJORD JV COPPER-GOLD PROJECT

NORDEN CROWN CONTINUES TO INTERSECT COPPER AT BURFJORD JV COPPER-GOLD PROJECT

Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) provides results for an eighteen diamond drill hole reconnaissance program carried out this past summer, totaling 3,499.40 metres at the Burfjord copper-gold project ("Burfjord" or the "Project").  Significant drill results include 36 metres of 0.48% copper in hole BUR-22-017, which includes a 3.7-metre intercept with a grade of 2.83% Cu.  Significant drill intercepts are shown in Table 1.  Drilling at Burfjord was completed on time and under budget.

The Burfjord IOCG project hosts numerous high-grade veins and associated copper-mineralized alteration envelopes approximately 6 kilometres by 4 kilometres in extent.  The large associated alteration footprint and widespread copper mineralization present in historical workings and intersected in Norden's reconnaissance drilling suggests there is potential to host a large bulk tonnage copper deposit.

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NORDEN CROWN COMMENCES MINIMUM 3,000M DRILL PROGRAM AT THE BURFJORD COPPER-GOLD PROJECT, NORWAY

NORDEN CROWN COMMENCES MINIMUM 3,000M DRILL PROGRAM AT THE BURFJORD COPPER-GOLD PROJECT, NORWAY

Norden Crown Metals Corp. (" Norden Crown " or the " Company ") (TSXV: NOCR) (OTC: NOCRF ( Frankfurt : 03E) has begun an estimated 3,000 to 5,000 metre diamond drilling program at its 100% owned Burfjord Copper Project (" Burfjord " or the " Project ") in northern Norway in partnership with Boliden Mineral AB ("Boliden) in northern Norway.  A variety of anomalous geological, geochemical, and geophysical targets have been identified which have potential to host economic copper-gold mineralization.  The primary objective of the drill program is to evaluate the copper-gold grades and test the continuity of newly established targets within an area of extensive historical mining and trenching. Stratigraphic drill holes are also planned to supplement targeting and expand prospectivity along the axis of the Burfjord anticline.

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Norden Crown Completes High Resolution Ground Magnetic Survey At Fredrikssons Gruvan, Gumsberg Project

Norden Crown Completes High Resolution Ground Magnetic Survey At Fredrikssons Gruvan, Gumsberg Project

Norden Crown Metals Corp. (" Norden Crown " or the " Company ") (TSXV: NOCR) (OTC: NOCRF) ( Frankfurt : 03E) is pleased to announce completion of a 450 line-km ground magnetic survey at the Fredrikssons Gruvan prospect (" Fredrikssons Gruvan ") in the Bergslagen province of Southern Sweden . This is the largest and highest-resolution magnetic survey completed in the history of the area.

The magnetic survey follows up on the first three discovery holes at Fredrikssons Gruvan, drilled in the winter of 2021, where all three holes intersected significant mineralized widths ranging from 8.15 to 13.6 metres of precious and base metal (see Table 1), massive and semi-massive sulphide mineralization, within a geological setting unique to mineralization belonging to the Broken Hill Type (" BHT ") clan of silver rich zinc-lead ore deposits.

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NORDEN CROWN INTERSECTS HIGH-GRADE COPPER AT BURFJORD JV COPPER-GOLD PROJECT

NORDEN CROWN INTERSECTS HIGH-GRADE COPPER AT BURFJORD JV COPPER-GOLD PROJECT

Norden Crown Metals Corp. ("Norden Crown" or the "Company") (TSXV: NOCR) (OTC: NOCRF) ( Frankfurt : 03E) is pleased to announce results from twelve completed diamond drill holes from two reconnaissance programs during 2021 (total 3179.2 metres) at its Burfjord copper-gold project ("Burfjord" or the "Project"). Significant drill results include 30.1m of 0.28% Cu in hole 003, 17.2m of 0.34% Cu in hole 004 and 12m of 1.27% Cu in Hole 011. A list of significant drill intercepts is presented (Table 1; Figure 1). Drilling at Burfjord was completed on time and under budget despite weather-related difficulties during the winter program.

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WESTERN COPPER AND GOLD STRENGTHENS MANAGEMENT TEAM

WESTERN COPPER AND GOLD STRENGTHENS MANAGEMENT TEAM

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce additions to the Company's senior management team.

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

In early August, Michael Psihogios will be taking over the role of Chief Financial Officer from Varun Prasad , and Jeff Eng will be assuming the role of Vice President Projects.

Sandeep Singh , CEO of Western, stated: "We are extremely pleased to be adding two high quality professionals to the Western team. Both Michael and Jeff bring highly relevant experience and an operational mindset to their positions. Coupled with our strong Yukon based team, they will be integral to advancing the Casino project through the assessment and permitting phase.

I would like to thank Varun Prasad for his 13 years of dedicated service to the Company. Over a short period of overlap, Varun has proven to be a great partner and we wish him the best as he focuses more time on his young family and future endeavours. He will continue in his role for the next two months to assist with the CFO transition."

Mr. Psihogios is an experienced financial executive working with public, private and investment companies in the natural resource industry over the past 20 years. Mr. Psihogios is currently the CFO of Atlas Salt Inc. and will transition roles over the coming months. Previously, he was the CFO of DUMAS Mining, an underground mine builder from 2016 to 2021, where he established the systems and controls for a successful business turnaround and profitable growth strategy. Prior to DUMAS Mining, Michael worked with an international natural resource private equity fund on numerous senior executive, financial and corporate development secondment roles within portfolio companies.

Mr. Eng brings experience across a number of disciplines leading to successful project studies and the development of mining projects. Most recently he was a Project Director for Teck Resources working on the mine life extension for the Red Dog mine, among other projects. Prior, he was Director of Engineering and Interim VP Project Development for Sabina Gold and Silver during the permitting and early execution phases of the Back River project. Mr. Eng spent 13 years with AMEC in several different, and increasingly senior, roles including Site Engineering Manager for the construction of the Mount Milligan mine in BC and lead roles in numerous studies and execution projects ranging from the Jansen potash project in Saskatchewan to Snap Lake Diamond Mine in Northwest Territories .

ABOUT western copper and gold corporation

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

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.

SOURCE western copper and gold corporation

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Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has received permit approval from the Bureau of Land Management ("BLM") for ten drill pads, at the Hot Breccia copper project in Southern Arizona

The drill pads will allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area, and in particular the large conductive anomaly identified by Prismo's 2023 ZTEM survey. Ground mapping, prospecting and sampling conducted earlier this year has supported the targeting process and target selection.

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Romios Announces $150,000 Non-brokered Offering

Romios Announces $150,000 Non-brokered Offering

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement of up to 15 million shares (the "Shares") priced at $0.01 per Share for up to $150,000 (the "Offering").

Funds will be used for exploration and working capital. All securities issued under the Offering are subject to a four month and one day hold period. The transaction is subject to TSX Venture Exchange approval. No funds from the sale of the Shares will be used for payments to non-arm's length parties or for investor relations activities. The funds from the sale of the Shares will be allocated as to $50,000 to maintain the Company's property in Nevada and the balance for general working capital.

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Canadian Critical Minerals Generates USD$246,000 in Revenue from Bull River Mine

Canadian Critical Minerals Generates USD$246,000 in Revenue from Bull River Mine

Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to report record revenues for the Company from the sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine ("BRM") project near Cranbrook, BC. During the month of June 2024, the Company trucked 694 wet metric tonnes ("wmt") of mineralized material to New Afton and the Company received a provisional payment of approximately USD$246,000 for the June 2024 shipments versus approximately USD$103,000 for May 2024 shipments. The mineralized material sent to New Afton graded 4.67% Cu, 0.89 gt Au and 39.5 gt Ag.

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1844 Announces Changes to the Board of Directors

1844 Announces Changes to the Board of Directors

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce the appointment of Mr. Mathieu Olivier to the board of directors effective immediately. Mr. Olivier will replace Mr. Denis Clement, who had been a board member since 2012.

Holding a bachelor's degree in business administration from Laval University, Mr. Olivier has led a 20-year career in wealth management and financial advisory in Quebec and has a strong history of managing investment in the junior natural resources industry. Mr. Olivier has extensive expertise in entrepreneurship and business development and is also involved in various charitable works, including sitting as the Chairman of Directors of Adaptavie Inc.

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FPX Nickel Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

FPX Nickel Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies focused on the mineral processing and infrastructure facilities for the Baptiste Nickel Project (" Baptiste " or " the Project ") in central British Columbia .  The mineral processing and infrastructure Value Engineering studies have achieved significant value creation through facility optimization, flowsheet refinement, enhanced operability, and improvements to the project build strategy and execution basis.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • Primary crushing: Changing from a gyratory-type primary crusher to mineral sizers has reduced earthwork and structural quantities, improved Phase 1 operability, and eliminated the need for a second primary crushing circuit in Phase 2
  • Concentrator expansion: A new integrated approach to the Phase 2 expansion has reduced overall quantities, improved Phase 2 operability, and reduced the footprint of process and infrastructure facilities
  • Project phasing: The phased approach and throughput rates in the preliminary feasibility study (" PFS ") have been validated, while acceleration of the Phase 2 expansion improves Baptiste's metal production profile
  • Execution schedule has been confirmed, further validating the PFS's estimated three-year construction duration

"Results from our mineral process and infrastructure Value Engineering studies have added significant value to the Baptiste Nickel Project," commented Andrew Osterloh , the Company's Senior Vice President, Projects & Operations.  "By reducing quantities, improving operating efficiency, and advancing the project execution plan, we have enhanced Baptiste's potential as a long life, large-scale, low-cost, and low-carbon producer of made-in- Canada nickel units. We look forward to advancing additional engineering studies on the mining and refinery aspects of the Project in advance of commencing a feasibility study."

Background

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

While the PFS presents robust economics, including a Base Case after-tax NPV 8% of US$2.01 Billion and after-tax IRR of 18.6% at US$8.75 /lb Ni, FPX strives to add further value to Baptiste, focusing on a holistic blend of economics, constructability, operability, risk and ESG considerations.

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

  • Mineral processing and infrastructure (described herein)
  • Mine planning and engineering (to be completed in the third quarter of 2024)
  • Refinery planning (to be completed in the third quarter of 2024)

Mineral Processing & Infrastructure Value Engineering Studies

FPX engaged Fluor Canada Ltd. (" Fluor ") and Wood Canada Ltd. (" Wood ") to perform detailed reviews of the 2023 PFS and to conduct mineral process and infrastructure Value Engineering studies.  The consultants identified three primary opportunities to add further value, which are described in greater detail hereunder:

  • Primary crushing: application of mineral sizers
  • Phase 2 concentrator expansion
  • Project phasing

As described below, each of the mineral process and infrastructure Value Engineering studies validated several key tenets from the PFS and added significant project value through reduced quantities, improved operability, reduced process operating costs, and reduced process and infrastructure footprint.

Primary Crushing

The PFS considered a gyratory-type primary crusher.  In re-evaluating the Project's geotechnical and communication datasets, the Company has identified an opportunity to use mineral sizers for primary crushing.  Taking advantage of the modest compressive strength and fractured nature of the Baptiste ore, mineral sizers have added significant value through reduced earthwork and structural quantities, increased operating availability, and the complete elimination of the second primary crushing line for the planned mine expansion from an initial Phase 1 processing throughput of 108,000 tonnes per day (" tpd ") to 162,000 tpd in Year 10 (" Phase 2 ").

Phase 2 Concentrator Expansion

The PFS considered the construction of a standalone processing facility for the Phase 2 expansion from 108,000 tpd to 162,000 tpd.  A new approach to expansion is based on an integrated concentrator approach which entails an expansion of the Phase 1 processing facility rather than the construction of a new standalone facility for Phase 2. This integrated approach results in a reduced process and infrastructure footprint, improved Phase 2 operability, and reduced Phase 2 work force requirements.

Project Phasing

A Value Engineering study re-evaluated the phased approach to processing throughput and compared it with a series of single-build scenarios ranging from 80,000 to 163,000 tpd.  Following this evaluation, the PFS's phased approach has been validated; however, the Phase 2 expansion has been accelerated to Year 6 from Year 10.  This acceleration in metal production is expected to generate improved economics versus the PFS, with the Phase 2 expansion funded from operating free cash flow following the 3.7 year after-tax payback demonstrated in the PFS.

Project Execution

Both Fluor and Wood were assigned further scope to review the PFS's execution basis, including the permanent facility layout, construction sequence, contracting approach, and overall execution schedule. Note that Fluor and Wood jointly executed the detailed engineering and construction management of the nearby Mt. Milligan Mine, which was commissioned in 2013 and is located 80 km east of Baptiste. Mt. Milligan is of comparable size and complexity to Baptiste, which uniquely positions Fluor and Wood to provide relevant context to the Baptiste project execution plan.

Through this additional execution planning effort, numerous scheduling improvements to the PFS were identified, thereby improving the constructability, operability, and maintainability of Baptiste.  In addition, increased focus on allowances for temporary construction facilities has improved execution scope assurance ahead of the environmental assessment  and permitting processes.  Fundamentally, these robust execution planning efforts further de-risk the Baptiste execution schedule, including the PFS assumption of a three-year construction period.

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

About the Decar Nickel District

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

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional territories of the Tl'azt'en Nation and the Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

About FPX Nickel Corp.

FPX Nickel Corp.  is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of awaruite nickel-iron mineralization.  For more information, please view the Company's website at https://fpxnickel.com/ or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2024/10/c9969.html

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