Ev Nickel Provides Update ON 2024 Exploration Plan – Initiates Diamond Drill Program ON High Grade Target
1
June 6, 2024 TSX-V: EVNI
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
EV NICKEL PROVIDES UPDATE ON 2024 EXPLORATION PLAN –
INITIATES DIAMOND DRILL PROGRAM ON HIGH GRADE TARGET
TORONTO, ON – EV NICKEL INC. (TSX -V: EVNI ) (“EVNi” or the “ Company”) is please to provide an update on its 2024
Exploration Plan and the commencement of diamond drilling on the Langmuir #2, high priority nickel target (see Figure
1).
2
2024 Exploration Program
A systematic exploration program has been developed consisting of geophysical surveys, metallurgical test work, surface
mapping and sampling and diamond drilling of both the priority, high-grade exploration targets and along the prospective
10 km+ CarLang Trend and to continue to advance the Company’s at-surface large scale, CarLang A Nickel Deposit.
The Company will also be commencing a diamond drill programs on its priority, high-grade nickel targets contained within
the Shaw Dome Property starting in mid-June. Exploration diamond drilling will focus on areas with known occurrences
of high-grade nickel including the Langmuir #2 Nickel Zone and 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.
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.
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.
3
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: Paul Davis
E-mail: [email protected]
EV Nickel Inc.
200 – 150 King St. W
Toronto, ON M5H 1J9
www.evnickel.com
4
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.