Ev Nickel Confirms Extension of W4 Nickel Sulphide Mineralization
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February 25, 2025 TSX-V: EVNI
EV NICKEL CONFIRMS EXTENSION
OF W4 NICKEL SULPHIDE MINERALIZATION
• New discovery of nickel sulphide mineralization east of the diabase dyke, expanding the known W4 Deposit
area.
• Mineralization remains open to the east and at depth, indicating potential for continued expansion.
• High-grade nickel intercepts in the 2024 W4 drill program, including a peak result of 2.60% Ni over 1.0 metre in
drill hole EV24-W403.
• EV24-W401 intersected 8.0m grading 1.00% Ni, incl. 3.0m grading 1.68% Ni
TORONTO, ON – EV NICKEL INC. (TSX -V: EVNI) (“EVNi” or the “Company) is pleased to announce promising results from its
2024 W4 diamond drill hole program, which successfully explored the bottom of the modeled mineral resource and to the
east of a previously identified diabase dyke. This program was part of the Company’s broader 2024 exploration initiative
aimed at expanding known prospective areas for both large-scale and high-grade nickel mineralization.
The latest drill results have revealed high-grade nickel intercepts, indicating that the W4 Deposit has significant potential
for additional nickel sulphide resources. The mineralization remains open at depth and extends eastward beyond the
diabase dyke. Notably, drill hole EV24-W403 returned impressive grades of up to 2.60% Ni over 1.0 metres, with values
ranging from 0.40% Ni to 2.60% Ni (see Table 1 for full details) within the 3 holes drilled.
Paul Davis, Vice President of Exploration, expressed enthusiasm about the drill findings:
“The presence of high -grade nickel mineralization to the east of the diabase dyke demonstrates the favorable
geological conditions of the W4 horizon to host additional mineralization. This represents a new area for potential
expansion of the W4 Deposit. Our 2024 exploration program has been a success, achieving all three of its key
objectives: (i) E xpanding the known nickel mineralization in the W4 Deposit, (ii) confirming high -grade nickel
mineralization in the Langmuir #2 area, and (iii) discovering the Gemini North nickel sulphide zone.
Additionally, we’ve confirmed the continuity of large -scale nickel mineralization along the entire 10 -kilometer
trend of the komatiitic peridotites and dunites, similar to the CarLang A Deposit.
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Progress over the la st months has furthered the diversification, optionality and attractive overall nature of EV
Nickel’s portfolio. We look forward to continuing the momentum.”
Encouraged by these exciting findings, EVNI is advancing its exploration efforts with a focus on expanding its nickel
resources. The combination of high -grade and large-scale mineral deposits positions EVNI for strong, sustainable nickel
production, with significant potential for supplying the North American market.
The company’s 2025 Diamond Drilling Exploration Program began in late January , with an anticipated >6,000 metres
centered on the recently discovered Gemini North Nickel Sulphide Zone, located approximately 3 kilometers north of the
CarLang A Deposit in Carman Township.
Core Handling and Assay-QA/QC Procedures
Drill core samples from EVNi drilling at the W4
Target were cut and bagged at the core logging facility located near the Shaw Dome Project and transported to ALS
Canada Ltd. (“ALS”) for analysis. Samples, along with certified standards and blanks, included by the Company for quality
assurance and quality control, were prepared and analyzed at ALS. Samples were crushed at ALS to 70% less than 2
millimetres. A riffle split was pulverized to 85% passing 75 microns. Nickel, copper, cobalt and sulphur are analyzed by
sodium peroxide fusion with an ICP finish and platinum, palladium and gold by fire assay and an ICP-AES finish. These and
future assay results may vary from time to time due to re‒analysis for quality assurance and quality control purposes.
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.
Drill hole Target Area From
(m)
To
(m)
Length
(m)
Ni
(%)
Cu
(%)
Co
(%)
S
(%)
Au
(ppm)
Pt
(ppm)
Pd
(ppm)
EV24-W401 W4 Extension 421.00 429.00 8.00 1.00 0.07 0.02 1.34 0.007 0.089 0.223
incl. 421.00 424.00 3.00 1.68 0.12 0.03 2.66 0.008 0.143 0.404
EV24-W402 W4 Extension 432.00 434.00 2.00 0.40 0.02 0.01 1.75 0.018 0.025 0.044
EV24-W403 W4 Extension 437.00 438.00 1.00 2.60 0.21 0.06 2.53 0.004 0.781 1.382
and 444.00 445.00 1.00 0.68 0.05 0.02 1.70 0.011 0.070 0.181
Table 1: Shaw Dome - W4 Extension Drill Holes
1) Drill Intercepts represent drill widths and true widths have not been calculated
2) Nickel (Ni), Copper (Cu), Cobalt (Co) and Sulphur (S) by sodium peroxide fusion with an ICP finish
3) Platinum (Pt), Palladium (Pd) and Gold (Au) by fire assy and ICP-AES finish
Drill Hole UTM Easting
(mE)
UTM Northing
(mN)
Elevation
(m)
Dip
(°)
Azimuth
(°)
Depth
(m)
EV24-W401 497526 5349747 287 -65 180.5 552
EV24-W402 497573 5349773 287 -63 180 576
EV24-W403 497650 5349750 287 -65 180 552
Table 2: 2024 Drill Program - W4 Extension -Locations and Depth
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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.
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.
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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 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: John Paterson, Interim President & CEO at [email protected].
EV Nickel Inc.
200 - 150 King St. W,
Toronto, ON M5H 1J9
Ph: 647-948-7472
www.evnickel.com
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