Ev Nickel Reports Positive Preliminary Metalurgical Results ON Gemini North Zone
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February 27, 2025 TSX-V: EVNI
EV NICKEL REPORTS POSITIVE
PRELIMINARY METALURGICAL RESULTS
ON GEMINI NORTH ZONE
• Robust overall nickel recovery of 69.7%.
• Open circuit testing used standardized flow sheet (same process used for nearby CarLang A zone).
• Flowsheet optimization could lead to meaningfully higher recoveries and concentrate grades.
TORONTO, ON – EV NICKEL INC. (TSX -V: EVNI ) (“EVNi” or the “ Company) is pleased to report the positive results of the
preliminary open cycle test program completed on one composite sample from hole EV24-CAR08 on its 100% owned,
Gemini North Nickel Zone (see figure 1) within the Shaw Dome Project located 30 kilometres south of Timmins, Ontario.
Paul Davis, Vice President Exploration, stated “These recovery numbers are very exciting and appear to confirm the higher
recovery potential of the Gemini North Zone. These improved recoveries, when combined with the higher nickel contents
observed in the zone indicate that the Gemini North Zone has t he potential to represent a significant zone of nickel
mineralization similar to the Mt. Keith Mine in Western Australia. I am excited to see the developments of our winter drill
program that has been designed to confirm the strike and dip of the sulphide zone as well as begin to determine the overall
areal distribution of the sulphide mineralization.”
Table 1 summarizes the results of the open circuit test performed on a composite sample taken from varying locations
within the recently discovered Gemini North Zone (see Press Releases dated November 5, 2024 and December 12, 2024)
with analyzed nickel grades ranging from 0.34% to 0.54%. The composite sample was tested at an arms length, third party
lab to provide preliminary metallurgical results from the Gemini North Zone. The composite sample indicated robust
recovery performance with total nickel reco very of 69.7%, Iron recovery of 58.3% and C hromium recovery of 49%. The
same flowsheet developed for the CarLang A deposit was used in this first open cycle test and it was indicated that further
improvements related to recoveries and concentrate grades could be anticipated with optimization of the flowsheet based
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upon the mineralogical composition of the zone. Recovery calculations were not completed for Copper and Cobalt;
however, indications from the concentrate grades imply these elements were also recovered to differing degrees.
Four individual samples rejects were selected from the sulphide bearing, serpentinized peridotite as listed in Table 2. All
4 samples were combined to form the final composite sample used for the open cycle test that was subject to the same
metallurgical process as the CarLang A Deposit.
QEMSCAN mineralogical analysis of selected samples throughout hole EV24-CAR08 indicate millerite and heazlewoodite
as being the dominant nickel minerals and chalcopyrite as the dominant copper mineral (see press release dated
December 12, 2024). Higher concentrate grades and recoveries are commonly associated with this mineralogy.
Ni Cu Co S Fe Cr Ni Cu Co S Fe Cr
Sample 1 0.52 <0.20 <0.02 1.13 6.88 0.3 69.7 NA NA 93.4 58.3 49.0
Head Grades (%) Recovery (%)
Table 1: Gemini North Open Circuit Test Results
Table 2: EV24-CAR08 Composite Sample
Hole ID
From
(m)
To
(m)
Length
(m)
Ni
(%)
Cu
(%)
Co
(%)
S
(%)
Fe
(%)
EV24-CAR08 100.5 102 1.5 0.54 0.02 0.02 1.61 7.14
EV24-CAR08 150.5 151 0.5 0.34 0.04 0.02 2.57 7.53
EV24-CAR08 165 166.5 1.5 0.47 0.02 0.02 1.21 6.22
EV24-CAR08 243 244.5 1.5 0.45 0.02 0.01 0.44 6.43
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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
A combination of whole drill core and ½ drill core samples from hole EV24 -CAR0 were either bagged, or 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 laborator ies. 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. These and future assay results may vary from
time to time due to re‒analysis for quality assurance and quality control.
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.
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.
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",
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"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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of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.