Flying Nickel’s Minago Drill Core PGM Assay Program Returns 22.8 Meters Grading 0.73g/t Platinum+Palladium+Gold in Addition to Previously Reported 1.45% Nickel in the Thompson Nickel Belt in Manitoba
Flying Nickel’s Minago Drill Core PGM Assay Program
Returns 22.8 Meters Grading 0.73g/t
Platinum+Palladium+Gold in Addition to Previously Reported
1.45% Nickel in the Thompson Nickel Belt in Manitoba
Vancouver, British Columbia, March 30 , 2023 – Flying Nickel Mining Corp. (“Flying
Nickel” or the “Company”) (TSX-V:FLYN, OTCQB:FLYNF) is pleased to announce the initial
platinum-group-metals (PGM) assay results from the Company’s 100% owned Minago Nickel
PGM project (the “Minago Project”) in Thompson Nickel Belt in Manitoba.
Further to the news release dated January 17, 2023, the Company has thus far prepared and
submitted 3,125 samples totalling 3,710 meters (from 45 drill holes) to SGS from Minago’s Nose
deposit. This is about half way through the 5,450 samples totalling 7,061 meters of sections in
97 holes planned for the Minago PGM assay program. The program is on schedule for June
completion, with the goal of developing a PGM resource at the Minago Project. The Company
expects to receive and publish the second batch of assay results in April.
The initial assay results from 898 samples totalling 1,046 meters from 12 holes have been
received and confirm the presence of significant platinum, palladium and gold mineralization in
all 12 reported holes. Notable intersections include:
N-07-07 grading 1.16% Ni, <0.01% Cu, 0.038 g/t Au, 0.200 g/t Pt and 0.525 g/t Pd (0.762 g/t
PGM+Au) over an 8.81 meter interval from 140.19 meter downhole.
N-07-09 grading 1.52% Ni, 0.06% Cu, 0.021 g/t Au, 0.222 g/t Pt and 0.822 g/t Pd (1.064 g/t
PGM+Au) over an 4.50 meter interval from 262.25 meter downhole.
N-07-13 grading 1.42% Ni, 0.11% Cu, 0.065 g/t Au, 0.221 g/t Pt and 0.442 g/t Pd (0.727 g/t
PGM+Au) over an 22.76 meter interval from 269 meter downhole.
N-07-37 grading 1.16% Ni, 0.10% Cu, 0.039 g/t Au, 0.164 g/t Pt and 0.416 g/t Pd (0.619 g/t
PGM+Au) over an 14.03 meter interval from 170.35 meter downhole.
N-07-44 grading 1.19% Ni, 0.04% Cu, 0.026 g/t Au, 0.138 g/t Pt and 0.364 g/t Pd (0.528 g/t
PGM+Au) over an 19.97 meter interval from 106.30 meter downhole.
Each of these sections includes higher concentrations of nickel and PGM over four to five
meters.
The results from assays received are tabulated below:
Hole ID From To Width Ni % Cu % Au g/t Pt g/t Pd g/t
Au+Pt+Pd
g/t NiEq %
N-07-07 122.09 128.00 5.91 0.88 <0.01 0.011 0.155 0.392 0.558 0.98
N-07-07 140.19 149.00 8.81 1.16 <0.01 0.038 0.200 0.525 0.762 1.30
N-07-09 138.60 144.80 6.20 0.87 0.02 0.006 0.121 0.313 0.440 0.96
N-07-09 156.05 165.50 9.45 0.81 0.02 0.005 0.095 0.242 0.341 0.88
N-07-09 190.25 195.55 5.30 1.11 0.06 0.012 0.146 0.388 0.545 1.23
N-07-09 262.25 266.75 4.50 1.52 0.06 0.021 0.222 0.822 1.064 1.74
N-07-10 176.00 180.60 4.60 0.98 0.07 0.006 0.112 0.298 0.416 1.08
N-07-10 254.00 275.00 21.00 0.82 0.03 0.008 0.122 0.241 0.371 0.90
Incl… 254.00 256.20 2.20 1.46 0.06 0.006 0.228 0.454 0.689 1.60
…and 266.00 270.50 4.50 1.48 0.06 0.017 0.243 0.500 0.761 1.64
N-07-12 215.45 227.00 11.55 0.90 0.05 0.026 0.091 0.248 0.366 0.98
N-07-13 269.00 291.76 22.76 1.42 0.11 0.065 0.221 0.442 0.727 1.59
N-07-13 292.35 303.67 11.32 1.45 0.13 0.090 0.237 0.474 0.801 1.64
N-07-13 342.82 349.80 6.98 1.31 0.06 0.019 0.154 0.305 0.479 1.42
N-07-23 182.00 191.52 9.52 0.97 0.16 0.011 0.111 0.302 0.424 1.10
Incl… 188.00 190.47 2.47 1.84 0.25 0.007 0.275 0.455 0.738 2.05
N-07-27 105.73 111.51 5.78 0.74 <0.01 0.005 0.131 0.363 0.499 0.83
Incl… 107.82 111.19 3.37 1.05 <0.01 0.007 0.173 0.490 0.670 1.17
N-07-27 127.52 133.91 6.39 0.98 0.01 0.007 0.140 0.375 0.522 1.08
N-07-27 135.89 140.89 5.00 0.68 <0.01 0.009 0.159 0.417 0.586 0.79
N-07-27 143.67 159.22 15.55 0.80 0.02 0.007 0.122 0.335 0.464 0.89
Incl… 150.44 155.08 4.64 1.02 0.00 0.008 0.179 0.512 0.699 1.15
N-07-27 163.17 185.28 22.11 0.89 0.07 0.010 0.122 0.338 0.470 1.00
Incl… 167.80 174.44 6.64 1.09 0.09 0.016 0.155 0.437 0.608 1.23
N-07-27 176.82 181.33 4.51 1.21 0.09 0.010 0.165 0.460 0.636 1.36
N-07-33 184.50 196.00 11.50 0.67 0.04 0.010 0.113 0.289 0.413 0.76
Incl… 189.50 194.50 5.00 0.91 0.07 0.016 0.150 0.415 0.580 1.04
N-07-37 140.50 150.47 9.97 0.88 0.01 0.025 0.092 0.250 0.367 0.95
Incl… 141.13 143.50 2.37 0.36 0.01 0.012 0.162 0.450 0.624 0.48
N-07-37 170.35 184.38 14.03 1.16 0.10 0.039 0.164 0.416 0.619 1.31
Incl… 170.35 174.25 3.90 1.14 0.09 0.017 0.181 0.504 0.701 1.30
…and 179.42 183.27 3.85 1.48 0.15 0.102 0.163 0.459 0.725 1.67
N-07-37 185.17 205.78 20.61 1.16 0.09 0.015 0.131 0.361 0.508 1.28
Incl… 195.13 199.71 4.58 1.45 0.11 0.011 0.181 0.506 0.698 1.61
…and 199.88 205.78 5.90 1.16 0.09 0.007 0.152 0.406 0.565 1.29
N-07-37 215.94 220.89 4.95 0.84 0.04 0.009 0.097 0.263 0.369 0.92
N-07-37 229.47 248.11 18.64 0.95 0.07 0.013 0.118 0.330 0.460 1.06
Incl… 237.16 241.08 3.92 1.29 0.07 0.008 0.164 0.465 0.636 1.43
N-07-37 249.38 267.29 17.91 0.98 0.06 0.008 0.119 0.299 0.425 1.08
N-07-37 260.00 267.29 7.29 1.33 0.09 0.011 0.160 0.400 0.571 1.46
N-07-42 180.07 183.13 3.06 0.73 0.07 0.006 0.142 0.275 0.424 0.83
N-07-42 198.08 205.44 7.36 1.12 0.11 0.019 0.112 0.315 0.447 1.24
N-07-44 106.30 126.27 19.97 1.19 0.04 0.026 0.138 0.364 0.528 1.30
Incl… 106.30 112.80 6.50 1.46 0.09 0.037 0.163 0.423 0.623 1.60
…and 116.00 119.69 3.69 1.32 <0.01 0.023 0.186 0.494 0.703 1.45
…and 123.41 126.27 2.86 1.33 0.02 0.015 0.164 0.457 0.636 1.45
* Detection limit is 10 ppm for Ni, 10 ppm for Cu, 10 ppm for Co, 5 ppb Au, 10 ppb Pt and 5 ppb
Pd.
When calculating composite grades, half the detection limit value was used when assay results
were less than the detection limit. True widths are approximately half the width observed in
core.
NiEq % (Resource) = ( (Ni% x 22.0462 x Ni Price $/lb) + (Cu% x 22.0462 x Cu Price $/lb) + (Pt
gpt / 31.1035) x Pt $/oz +(Pd gpt / 31.1035) x Pd $/oz + (Au gpt / 31.1035) x Au $/oz)/(22.0462
x Ni $/lb). This calculation assumes 100% recovery rates and does not include Cobalt due to a
lack of data. Calculation is an estimation of resource potential. Metal prices are Ni $12.4/lb, Cu
$4.1/lb, Pd $1,721/oz, Pt $1,068/oz, Au $1,904/oz based on January 13, 2023.
Ni, Cu results are from historical assays previously released. Pt, Pd, and Au are part of maiden
PGM assay in 2023 by SGS at its Burnaby B.C. lab.
About Minago Project
The Minago Project is located in Canada’s Thompson Nickel Belt and currently has a NI 43 -101
compliant open-pit optimized and underground, Measured and Indicated resource of 44.2 million
tonnes grading 0.74% Ni (722 million lbs contained nickel) and Inferred resourc e of 19.6 million
tonnes grading 0.74% Ni (319 million lbs contained nickel). The resource split is approximately
78% Nose deposit and 22% North Limb deposit at Minago. This 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.
There has been cumulative 90,783 meters of drilling at the Minago Project by 6 operators since
1966. Additionally, Flying Nickel drilled 2,718 meters in 2022 since acquiring the Minago Project
in February 2021. 118 of 150 boreholes (79%) that intersected the proposed Nose deposit pit
shell are missing PGM assays.
5,450 samples totalling 7,061 meters of sections in 97 holes are planned for the Minago PGM
assay program in 2023 with the goal of developing a PGM resource at the Minago Project
Total length of PGM assay sections and number of boreholes is estimated. Maps and charts are
available at www.flynickel.com
QA/QC
The sampling process incorporated blanks, standards (certified reference material) and
duplicates. The blank samples were comprised of crushed limestone, two standard types were
used which alternated from a high Ni concentration to a low Ni concentration, and duplicates
were created from half the material of the previous sample. QAQC samples were inserted at
intervals of 20.
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]
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 rela ted 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 Nick el 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, event s 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 occ urrence of
unanticipated events, except as expressly required by law.