Flying Nickel Signs Landmark Impact and Benefit Agreement with Norway House Cree Nation to Advance the Minago Nickel Project in Manitoba
Flying Nickel Signs Landmark Impact and Benefit
Agreement with Norway House Cree Nation to
Advance the Minago Nickel Project in Manitoba
Vancouver, British Columbia, March 14, 2023 – Flying Nickel Mining Corp.
(“Flying Nickel” or the “Company”) (TSXV:FLYN) is pleased to announce the
signing of an Impact and Benefit Agreement (“IBA”) with Norway House Cree Nation
(“NHCN”) to advance the development of the Minago Nickel Project (“Minago”)
located in the prolific Thompson nickel belt in Manitoba, Canada.
“This project is planned to be the greenest nickel mine in the world and will provide
Norway House Cree Nation with benefits including jobs, contract opportunities and a
direct financial contribution. It will enable our Nation to become more independent
from Government and create a future for our youth.” Comments NHCN Chief, Larson
Anderson
The IBA establishes the framework for Flying Nickel and NHCN to work together
during all stages of the Minago project in its exclusive traditional territory. It sets the
terms under which the project will be developed and operated throughout the
complete project lifecycle with the consent and support of the NHCN
“The IBA provides Minago project-related opportunities and benefits for current and
future generations of the NHCN people and reflects both Flying Nickel and NHCN
ongoing commitment to environmental protection. We look forward to continually
strengthening and expanding our symbiotic relationship with NHCN ” Comments
John Lee, CEO of Flying Nickel.
Minago is one of Canada’s largest and highest-grade open-pit optimized greenfield
nickel projects*. In addition, Minago would potentially have one of the world’s lowest
carbon footprints for a mining operation**, utilizing Manitoba’s hydro electricity
generation.
Specific terms of the IBA remain confidential. But generally, they include cooperation
between Flying Nickel and NHCN by (i) establishing a cooperative and mutually
respectful long-term relationship; (ii) providing employment capacity support and
business opportunities to NHCN and its members; (iii) providing an independent
director seat on the Flying Nickel board (with the person to be nominated by NHCN);
(iv) providing a specialized mechanism for NHCN to subscribe to Flying Nickel
common shares to increase project participation; (v) revenue-sharing payments to
NHCN based on nickel revenues generated by the project; and (vi) through a joint
effort minimizing unforeseen disruption and providing certainty for investment,
access, and ownership of resource rights in respect of Minago.
Mining at the Minago project will generate significant quantities of high-quality
dolomitic limestone and granitic country rock, which are raw materials used in the
cement and construction industries. The IBA includes provisions for establishing a
joint venture partnership between Flying Nickel and NHCN which processes and
markets those by-products. This will create additional revenue and local
employment.
The IBA is a landmark Minago development milestone and the agreement reflects
Flying Nickel’s commitment to engage with communities and First Nation people
during all aspects of the project cycle.
* Minago currently has an NI 43-101 compliant Measured and Indicated resource of
722Mlbs contained nickel grading 0.74% and Inferred resource of 319Mlbs contained
nickel also grading 0.74%. A majority of the resource is open pit optimized. The
technical report, completed by Mercator and AGP, has an effective date of February
28, 2022, and is available under the Company’s profile on SEDAR.
** Study by Skarn Associates reported in Flying Nickel news release dated
September 13, 2022.
Qualified Person
The technical contents of this news release have been prepared under the supervision
of Robert Smith, P.Geo. and he approves its content. Mr. Smith is independent of the
Company. Robert Smith is a Qualified Person as defined by the guidelines in NI 43 -
101.
About Flying Nickel
Flying Nickel Mining Corp. is a premier nickel sulphide mining and exploration
company. The company is advancing its 100% owned Minago nickel project in the
Thompson nickel belt in Manitoba, Canada.
Further information on the Company can be found at www.flynickel.com.
FLYING NICKEL MINING CORP.
ON BEHALF OF THE BOARD
John Lee
Interim Chief Executive Officer
For more information about the Company, please contact:
Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL
Email: [email protected]
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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may
contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”,
“estimates”, or similar expressions , and statements related to matters which are not
historical facts, are forward -looking information within the meaning of applicable
securities laws. Such forward -looking statements, which reflect management’s
expectations regarding Flying Nickel’s future growth, results of operations,
performance, business prospects and opportunities, are based on certain factors and
assumptions and involve known and unknown risks and uncertainties which may
cause the actual results, performance, or achievements to be materially different from
future results, performance, or achievements expressed or implied by such forward -
looking statements.
These factors should be considered carefully, and readers should not place undue
reliance on the Flying Nickel’s forward-looking statements. Flying Nickel believes that
the expectations reflected in the forward -looking statements contained in this news
release and the documents incorporated by reference herein are reasonable, but no
assurance can be given that these expectations will prove to be correct. In addition,
although Flying Nickel has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in forward
looking statements, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation
to release publicly any future revisions to forward-looking statements to reflect events
or circumstances after the date of this news or to reflect the occurrence of
unanticipated events, except as expressly required by law.