Nickel ROCK Provides Narrative ON Recent Option Agreement
NICKEL ROCK PROVIDES NARRATIVE ON RECENT OPTION AGREEMENT
July 13, 2021: Vancouver, BC, Canada; Nickel Rock Resources Inc. (the “Company” and “Nickel
Rock”) TSXV: NICL, OTC: NICKLF, FSE: NMK2 is pleased to detail the positive effects of the recently
announced Option to Joint Venture Transaction (the “Transaction”) with Surge Battery Metals Inc.
(TSXV: NILI) on two of its four nickel claim groups in Northern British Columbia.
Nickel Rock’s exploration stage Nickel Project (the “Project”) consists of four non-contiguous mineral
claims groups held by the Company through three separate agreements. The claim groups are located
in the Takla Lake and Trembleur Lake area of north-central British Columbia nearby or adjacent to
FPX Nickel Corp.’s (TSXV: FPX) Decar Nickel Project, as shown in the map below:
Robert Setter, Company President & CEO comments “As we are well aware, the Decar Nickel Project
is an advanced Nickel project targeting awaruite, a nickel-iron alloy mineral, hosted by serpentinized
ultramafic intrusive rocks of the Trembleur Ultramafic Unit. It is our desire to progress our nearby
Nickel properties to the same advanced stage of development.”
“After looking at the results of our recently completed exploration program within the Hard Nickel
claim group (News Release June 28, 2021), our management team determined that it would be in the
best interest of the Company to focus our exploration program (and all associated exploration
dollars) on the two mineral claim blocks immediately to the west of the FPX Decar Project.”
Nickel Rock Resources Inc.
1220 – 789 West Pender Street
Vancouver, BC, Canada V6C 1H2
604- 428-5690
www.nickelrockresources.com
2
Mr. Setter continues “This is in line with our exploration results and also the results coming from the
FPX Nickel Corp. Decar Project, and our exploration team has determined it to be a highly desirable
area within the region. This is based on the cumulation of historical, current exploration and
neighbouring exploration results.”
“This is not to say that our other two large mineral claims in the immediate area, to the east and north
of the Decar Project, do not hold any value, just that the Company needs to focus its exploration team
and plans in a particular region. Therefore, the Company has decided to option to joint venture these
two mineral claims with a credible exploration partner in the region. By doing so, we have the ability
to extract some immediate value from these claims, improve our working capital position, focus our
exploration efforts and continue to draw value from all four of our Nickel Project claim groups in the
area by retaining a 20% interest in these claims and having a joint venture partner commit resources
towards exploration on these joint venture claims. Currently, the Company has over CAD$1.3 million
in working capital, and this transaction will add to this total and is valued at CAD$1.275 million based
on current share prices.”
“We believe that this Transaction and exploration focus is in the best interest of the Company, and
are excited to have active multiple exploration work programs being conducted in the area.”
2021 Work Program
The Company plans for its 2021 Work Program are unaffected by the proposed Transaction.
The proposed work program consists of trenching, surface exploration, diamond drilling, camp
construction, and exploration activities to support drilling and trenching such as soil sampling, rock
sampling, prospecting, and geological mapping. The company proposes a 12-man camp to be built in
a cirque on the north slope of the un-named mountain west of and adjacent to Mount Sydney
Williams, and will be built next to a sub-alpine lake at the headwaters of Van Decar Creek. The
location of camp was selected based on past exploration camps at this location and is suitable for
supporting exploration. Camp will be used to accommodate field personnel and will be accessed with
helicopter.
The Company estimates that this proposed work program will include CAD$600,000 in exploration
expenditures spent over the summer - fall of 2021 which will fulfill the Company’s flow-through
mining exploration commitments for the 2021 calendar year.
Qualified Person
Jacques Houle, P.Eng., a qualified person as defined by NI 43 – 101, is responsible for the technical
information contained in this release. Readers are cautioned that the information in this press release
regarding the property of FPX Nickel Corp is not necessarily indicative of the mineralization on the
property of interest.
About Nickel Rock Resources Inc.
The Company is a Canadian-based mineral exploration company active in the exploration for nickel-
iron alloy in British Columbia and lithium in Nevada. Nickel Rock Resources Inc. is a Canadian based
exploration company whose primary listing is on the TSX Venture Exchange. The Company’s
maintains a focus on exploration for high value battery metals required for the electric vehicle (EV)
market. (http://www.nickelrockresources.com/)
3
About Clayton Valley Lithium Project
Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and
is still active due to movement along the Walker Lane structural zone. As a result, the basin has
preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events
over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera
system and related events. These ash layers are thought to contribute to the lithium brines extracted
by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits
on the east side of Clayton Valley. https://nickelrockresources.com/clayton-valley-lithium/
About the British Columbia Nickel Project
Hard Nickel and Nickel 100 ClaimGroups
The Mount Sidney Williams area Hard Nickel Claim Group consists of seventeen claims in three non-
contiguous groups with a total area of 10,569 hectares, both adjoining and near the Decar project of
FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C. Metallic mineralization
includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite.
The Mitchell Range area Nickel 100 Claim Group consists of five contiguous claims covering 8,659
hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel
and cobalt mineralization have not been well explored, but the presence of awaruite has been
documented.
The Transaction with Surge Battery Metals Inc. includes one of the three Hard Nickel Claim Groups,
covering 1863 hectares immediately south of and adjacent to the Decar Project groups in the Mount
Sidney Williams area, and entire Nickel 100 Claim Group, covering 8659 hectares in the Mitchell
Range area. All six claims included in the transaction are held 100% by Nickel Rock, and three of the
claims are subject to 2% NSR, including the Hard Nickel 4 claim and the two southernmost claims of
the Nickel 100 Claim Group.
Klone Claims
On October 15, 2020 the Company entered into an option agreement to earn an undivided 100%
interest in the Klone group of mineral claims (1,400 ha) adjoining the property of FPX Nickel Corp
(TSXV:FPX) located 100km northwest of Fort St. James BC in the Omineca Mining division.
Funk Claims
On February 1, 2021 and February 22, 2021, the Company entered into an option agreement to earn
an undivided 100% interest, subject to a 2% NSR in 6 mineral claims located approximately 15 km
west of Mt Sydney Williams near Fort St James, BC. Additionally, the Company located two adjoining
claims by title selection.
On Behalf of the Board of Directors
“Robert Setter”
Robert Setter, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking
statements which include, but are not limited to, comments that involve future events and conditions, which are subject to
various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming
work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are
forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary
materially from those statements. General business conditions are factors that could cause actual results to vary materially
from forward-looking statements.