Ev Nickel Announces Positive Mineralogical Results FOR New Large-Scale Zone
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December 12, 2024 TSX-V: EVNI
EV NICKEL ANNOUNCES POSITIVE
MINERALOGICAL RESULTS FOR NEW LARGE-SCALE ZONE
• QEMSCAN analysis completed on new large-scale zone (“CarLang C” or “Gemini Zone”) as follow-up to recent
drill results
• Results indicate presence of magmatic sulfides
• New and distinct large-scale zone that contains potential for higher recovery rates and higher quality
concentrate
TORONTO, ON – EV NICKEL INC. (TSX-V: EVNI) (“EVNi” or the “Company”) is excited to announce the results of
Quantitative Evaluation of Materials by Scanning Electron Microscope (“QEMSCAN”) and Electron Probe Microanalysis
(“EPMA”) completed by XPS Sudbury, on selected samples from drill hole EV24-CAR08 located in the CarLang C target
area.
Following the encouraging higher-grade intercepts from diamond drill hole EV24-CAR08, announced in our October 8, and
Nov 5, 2024 press releases, these QEMSCAN results confirm that the higher grade drill results are associated with nickel
sulphides observed in the drill core with mineralization that could be associated with improved recovery rates and result
in a higher-grade concentrate output.
The Company is now turning its focus to this new zone as its top priority in the 2025 exploration program and is renaming
the zone the Gemini North Zone.
According to Paul Davis, VP, Exploration, “These QEMSCAN results, when combined with the grade results from our recent
drilling program, make the Gemini North Zone a new mineralized zone that appears to be associated with magmatic
sulphides, similar to Mt. Keith in Western Australia, in the Timmins area. Based upon the dominance of millerite and
heazlewoodite, I would be surprised if we did not see higher recovery rates and a higher grade nickel concentrate from
the Gemini North Zone. Surface samples from outcrop to the west of the drill hole and an overburden depth of less than
15 metres in EV24-CAR08, indicates that the hosting units are near surface for this new zone. We are very excited about
the future potential of this new discovery and are designing our 2025 Exploration Program to flesh out the overall size of
the mineralized system.”
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Technical Details.
QEMSCAN mineralogical analysis of selected samples throughout hole EV24-CAR08 indicate millerite and heazlewoodite
as being the dominant nickel minerals averaging 0.69% and 0.10% by mass, respectively (Table 1). The presence of a
significantly higher proportion of nickel sulphide minerals in drill hole EV24-CAR08 could potentially indicate that expected
recoveries from this style of mineralization would be higher than for other large-scale peridotite hosted nickel zones in
the Timmins area. EPMA analysis completed on the millerite and heazlewoodite measured average nickel contents of
63.97% Ni and 72.38% Ni, respectively. Selected samples have been submitted to Corem in Quebec City for preliminary
flotation test work to determine the recovery characteristics of the sulphide zone.
Chalcopyrite is interpreted as being the dominant copper mineral and the confirmation of an average of 0.19%
chalcopyrite by mass increases the Company’s confidence in the magmatic nature of the sulphide mineralization. An
average of 3.6% of the samples mass were comprised of Brucite, the most reactive carbon storage mineral indicating that
the Gemini Zone has the potential to be a host for long term carbon sequestration . Additional work would need to be
completed by the Company to confirm the volumes of carbon that could be captured by the host peridotites.
EVNI is currently developing its 2025 exploration program for the Gemini North Zone and CarLang C area and expects to
complete diamond drilling, geophysical analysis, metallurgical and mineralogical studies with an objective of defining a
new resource covering the nickel mineralization identified in the 2024 exploration program.
Core Handling and Assay-QA/QC Procedures
Drill core samples from EVNi drilling at the CarLang C Target were cut and bagged at the core logging facility located near
the Shaw Dome Project and transported to Activation Laboratories Limited (“Actlabs”) in Timmins for preparation and
analysis. Samples, along with certified standards and blanks, that are included by the Company for quality assurance and
quality control, were prepared and analyzed at the laboratories. At Actlabs, samples are crushed to 80% passing 2mm. A
riffle split is pulverized to 95 % passing 105 microns. Nickel, copper, cobalt, iron and sulphur are analyzed by peroxide
fusion with an ICP-OES finish and gold, platinum and palladium are analyzed by Fire Assay with an ICP -OES finish. These
and future assay results may vary from time to time due to re‒analysis for quality assurance and quality control.
About EV Nickel Inc.
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.
Drill Hole ID Sample ID From
(m)
To
(m)
Length
(m)
Millerite
(%)
Heazlewoodite
(%)
Pentlandite
(%)
Ni-Fe Alloy
(%)
Chalcopyrite
(%)
Brucite
(%)
EV24-CAR08 C924830 100.5 102 1.5 0.40 0.06 0.02 0.01 0.09 4.16
EV24-CAR08 C924890 150.5 151 0.5 0.77 0.11 0.02 0.00 0.16 5.57
EV24-CAR08 C924833 160.5 162 1.5 0.74 0.10 0.03 0.00 0.15 4.38
EV24-CAR08 C924774 165 166.5 1.5 1.16 0.14 0.01 0.02 0.15 2.40
EV24-CAR08 C924820 243 244.5 1.5 0.39 0.08 0.00 0.01 0.40 1.50
Table 1: QEMSCAN Modal Mineralogy (mass%)
Drill Hole UTM Easting
(mE)
UTM Northing
(mN)
Elevation
(m)
Dip
(°)
Azimuth
(°)
Depth
(m)
EV24-CAR08 498645 5359645 306.1 -60 235 252
Table 2: 2024 Drill Program - EV24-CAR08 -Location and Depth
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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, the 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 Nick el is also eager to collaborate with all stakeholders and leading sustainable engineering, mining,
automotive and battery companies to provide this key input to support global decarbonization initiatives. The
governments of Ontario and Canada are also pro viding 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
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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 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.