EV Nickel Announces Fully Funded Exploration Program
EV Nickel Announces Fully Funded Exploration Program
TORONTO, April 16, 2024 – EV NICKEL INC. (TSX-V:EVNI) ("EVNi" or the "Company") is
pleased to announce its 2024 exploration program. Following the closing of a $5,119,750 flow
through financing on March 28, 2024, the Company has designed an impactful exploration
program to advance its two significant Nickel deposits and evaluate other targets on its extensive
land package near Timmins Ontario, Canada.
A systematic exploration program consisting of geophysical surveys, metallurgical test work,
surface mapping and sampling and diamond drilling along the prospective 10 km+ CarLang
Trend has been designed to continue to advance the Company’s at-surface large scale,
CarLang A Nickel Deposit, which hosts, in accordance with National Instrument 43-101, a
combined Resource of 1.1B tonnes @ 0.24% Ni for 5.3B lbs of Class 1 Nickel consisting of
Indicated Resource of 0.5B tonnes @ 0.25% Ni and an Inferred Resource of 0.5B tonnes @
0.23% Ni (see press release dated February 28, 2023 and/or SEDAR filing dated April 12,
2023).
The Company will also be completing diamond drill programs on its priority, high-grade nickel
targets contained within the Shaw Dome Property. Exploration diamond drilling will focus on
areas with known occurrences of high-grade nickel including the extension of the previously
announced W4 Resource, in accordance with National Instrument 43-101, consisting of a
combined Resource of 2.0M tonnes @ 0.98% Ni for 43.3M lbs of Class 1 Nickel consisting of
Measured and Indicated Resources of 1.45M tonnes @ 0.98% Ni and Inferred Resources of
0.6M tonnes @ 0.98% Ni (see press release dated June 12, 2023 and/or SEDAR filing dated
July 26, 2023) as well as on other prospective high-grade nickel targets in the area.
“We are excited to commence our 2024 exploration program in which we will expand activities
on our large-scale CarLang resource up the full 10km trend that has produced excellent results
from the exploration to date. We will also be drilling prospective high grade targets and
advancing our clean metal bioleaching program. We are also pleased with the recognition that
our Nickel projects have received and we will continue to advance discussions with a variety of
strategic groups to continue to further advance these world class projects,” stated Paul Davis,
VP Exploration.
North American On-Shoring of Critical Mineral Production
EV Nickel’s mission is to provide the world with clean nickel from Tier 1 jurisdictions. Our projects
are located within 30 km of Timmins, a developing hub of clean critical minerals for the North
American battery and stainless-steel markets and an important emerging critical mineral district
for the North American efforts to bring on-shore the full vertical integration of electric batteries and
vehicles.
EV Nickel aims to play an integral part of the North American on-shoring initiative as the
Company’s clean low carbon deposits can be an important source of supply to support the
Inflation Reduction Act (IRA) and Ontario and Federal policies and initiatives which strive to bring
clean critical mineral production from Canada into the North American supply chain and globally.
In further support of this initiative, t he Company has and will continue to partner with
environmentally responsible and ethical organizations from around the province and around the
world to assist in developing these essential critical minerals. EV Nickel is also eager to
collaborate with all stakeholders and leading sustainable engineering, mining, automotive and
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battery companies to provide this key input to support global decarbonization initiatives. The
governments of Ontario and Canada are also providing significant legislative, policy and financial
support to help ensure that the Timmins region becomes a leading participant in the developing
North American supply chain for the clean transition energy.
Qualified Person
The Company’s Projects are under the direct technical supervision of Paul Davis, P.Geo., and
Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has
reviewed and approved the technical information in this press release. There are no known factors
that could materially affect the reliability of the information verified by Mr. Davis.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking information. Such forward-looking statements or
information are provided for the purpose of providing information about management's current
expectations and plans relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. Any such forward-looking information may
be identified by words such as "anticipate", "proposed", "estimates", "would", "expects", "intends",
"plans", "may", "will", and similar expressions. Forward-looking statements or information are
based on a number of factors and assumptions which have been used to develop such statements
and information, but which may prove to be incorrect. Although EVNi believes that the
expectations reflected in such forward-looking statements or information are reasonable, undue
reliance should not be placed on forward-looking statements because the Company can give no
assurance that such expectations will prove to be correct. Factors that could cause actual results
to differ materially from those described in such forward-looking information include, but are not
limited to, changes in business plans and strategies, market conditions, share price, best use of
available cash, the ability of the Company to raise sufficient capital to fund its obligations under
various contractual arrangements, to maintain its mineral tenures and concessions in good
standing, and to explore and develop its projects and for general working capital purposes,
changes in economic conditions or financial markets, the inherent hazards associated with
mineral exploration, future prices of metals and other commodities, environmental challenges and
risks, the Company's ability to obtain the necessary permits and consents required to explore,
drill and develop its projects and if obtained, to obtain such permits and consents in a timely
fashion relative to the Company's plans and business objectives, changes in environmental and
other laws or regulations that could have an impact on the Company's operations, compliance
with such laws and regulations, dependence on key management personnel, and general
competition in the mining industry. These risks, as well as others, could cause actual results and
events to vary significantly. The forward-looking information in this press release reflects the
current expectations, assumptions and/or beliefs of EVNi based on information currently available
to the Company. Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company disclaims any intent
or obligation to update any forward-looking information, whether as a result of new information,
future events or results or expressly qualified by this cautionary statement.
The securities offered have not been registered under the U.S. Securities Act of 1933, as
amended (the " U.S. Securities Act "), or any applicable state securities laws and may not be
offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons,"
as such term is defined in Regulation S promulgated under the U.S. Securities Act, absent
registration or an exemption from such registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the
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securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Contact Information
For further information, visit www.evnickel.com
Or contact: Paul Davis
E-mail: [email protected]
EV Nickel Inc.
200 – 150 King St. W
Toronto, ON M5H 1J9
www.evnickel.com
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 of this release
SOURCE: EV Nickel Inc.