Canada Nickel Announces Exercise of Mann Property Option with Noble
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Canada Nickel Announces Exercise of Mann Property Option with Noble
Highlights
• Canada Nickel acquiring an 80% interest in Mann Property (~11,000 hectares)
• Includes Mann Northwest, Central and Southeast properties that cover a combined 25 km
strike length of nickel-bearing ultramafic rocks
• Northwest and Central will advance to resource delineation programs while Southeast will be
drilled for the first time, all during the 2024 exploration program
TORONTO, April 22, 2024 – Canada Nickel Company Inc. ("Canada Nickel" or the " Company")
(TSXV: CNC) (OTCQX: CNIKF) is pleased to announce that it is exercising its option to acquire an 80%
interest in the Mann Nickel Property from Noble Mineral Exploration Inc. (“Noble”) as Canada Nickel
consolidates its interests in bulk tonnage nickel projects east of Timmins, Ontario.
The option terms include:
(i) Exploration expenditures of $1.7 million on the Property (completed),
(ii) Cash payment to Noble of $350,000 (completed),
(iii) Annual cash payments to Noble of $100,000 (current),
(iv) Underlying NSR rights to previous claim owners and to Noble (to be registered).
Mark Selby, CEO of Canada Nickel, commenting on the exercise of the option said, “We are pleased to
complete the option agreement with Noble after our successful drill program in 2023 where all 15 holes
intersected target mineralization. We are looking forward to further unlocking the potential of these
three targets in 2024.”
The option agreement was previously announced on November 22, 2021.
Statement Regarding TSX Venture
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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The completion of any transactions mentioned in this release is subject to customary closing conditions,
including final TSX Venture Exchange approval. The common shares issued pursuant to the above noted
acquisitions will be subject to a four month hold period under applicable Canadian securities laws. Some
transactions may have been approved prior to this release.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel
required to feed the high growth electric vehicle and stainless steel markets. Canada Nickel Company has
applied in multiple jurisdictions to trademark the terms NetZero Nickel TM, NetZero Cobalt TM, NetZero
IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel,
cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low politi cal risk
jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel -Cobalt
Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please
visit www.canadanickel.com.
For further information, please contact:
Mark Selby
CEO
Phone: 647-256-1954
Email: [email protected]
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information" under
applicable Canadian securities legislation. Forward looking information includes, but is not limited to, drill
and exploration results relating to the target properties described herein (the "Properties"), the potential
of the Crawford Nickel Sulphide Project and the Properties, timing of economic studies and mineral
resource estimates, the ability to sell marketable materials, strategic plans, including future exploration
and development results, and corporate and technical objectives. Forward -looking information is
necessarily based upon several assumptions that, while considered reasonable, are subject to known and
unknown risks, uncertainties, and other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such forward-looking information. Factors that could
affect the outcome include, among others: future prices and the supply of metal s, the future demand
for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required
to retain and advance the property, environmental liabilities (known and unknown), general business,
economic, competitive, political and social uncertainties, results of exploration programs, risks of the
mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder
approvals, and the impact of COVID -19 related disruptions in re lation to the Company's business
operations including upon its employees, suppliers, facilities and other stakeholders. There can be no
assurance that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking information contained in this press release
is given as of the date hereof and is based upon the opinion s and estimates of management and
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information available to management as at the date hereof. Canada Nickel disclaims any intention or
obligation to update or revise any forward -looking information, whether because of new information,
future events or otherwise, except as required by law.