Fjordland Enters Option Agreement for Vulcan Minerals South Voisey’s Bay Claims
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
TSX-V: FEX
FOR IMMEDIATE RELEASE NR2021-12
Fjordland Enters Option Agreement for Vulcan Minerals South Voisey’s Bay Claims
Vancouver, BC, September 23, 2021 ─ Fjordland Exploration Inc. (TSX-V: FEX) (“Fjordland” or the
“Company”) is pleased to announce that it has entered into a binding Letter of Intent with Vulcan Minerals
Inc. (“Vulcan”) to acquire a 100% working interest in 30 mineral claims (750 hectares) located in the
South Voisey’s Bay (“SVB”) area, Labrador. Under the terms of the agreement, Fjordland has the option
to pay Vulcan 1,350,000 common shares, $70,000 cash and incur $250,000 in exploration expenditures
over a period of three years, of which $25,000 cash and 600,000 common shares are payable upon
signing the agreement. Vulcan reserves a 2% net smelter return (“NSR”) royalty on the claims subject to
the Company’s ability to buy back 50% of the NSR for $2,000,000. The Agreement is subject to TSX
Venture Exchange approval.
James Tuer, Fjordland’s CEO commented, “In anticipation of future work on the South Voisey’s Bay
project, we believe that this is a great opportunity to consolidate the land position which incorporates the
best geophysical anomalies found to date. An updated interpretation of existing gravity surveys has
indicated that there are anomalies contiguous to our claims along the margin with the Vulcan claims. This
option agreement allows us to protect our interests in the event a mineral deposit extends to the east of
our claims.”
In collaboration with Ivanhoe Electric Inc. (formerly High Power Exploration Inc.) and Commander
Resources Ltd., Fjordland is exploring the SVB Pant’s Lake mafic intrusive complex. This area was first
explored for nickel following the 1993 discovery of Vale’s high grade Voisey’s Bay nickel-copper-cobalt
mine, located approximately 80 kilometers to the north. Several rounds of drilling and geophysics have
established the intrusion’s potential for significant accumulations of massive magmatic sulphides.
About Vulcan Minerals Inc.
Vulcan Minerals is a precious and base metals exploration company based in St. John’s Newfoundland.
The company has strategic land positions in multiple active Newfoundland gold exploration and
development belts. It also holds approximately 38 % of the shares in Atlas Salt Inc. (TSXV: SALT)
(formerly Red Moon Resources Inc.). Atlas Salt produces gypsum from its Ace Mine and owns the mineral
rights to the Fischell’s Brook salt dome and other strategic salt claims. All of these projects are in western
Newfoundland.
About Fjordland Exploration Inc.
Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large-
scale economic metal deposits in Canada.
In addition to the SVB project, Fjordland, as operator, has an agreement to acquire 100% of the Renzy
nickel copper project located near Maniwaki Quebec from Quebec Precious Metals. The project
encompasses the former Renzy Mine where during the period from 1969 to 1972, 716,000 short tons
were mined with average grades of 0.70% nickel and 0.72% copper. Fjordland has staked additional
claims to increase the size of the project to 308 sq. km.
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Suite 1100 – 1111 Melville Street Tel: (604) 688-3415
Vancouver, B.C. V6E 3V6 Email: [email protected]
As well, Fjordland is currently reviewing its West Milligan copper gold project located within 4 km of
Centerra’s Mount Milligan copper gold mine in central British Columbia. The project is a joint venture with
Northwest Copper Corp.
Robert Cameron, P. Geo., a technical advisor to the Company, is a qualified person within the context of
National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
For further technical information please visit Fjordland’s website at www.fjordlandex.com
ON BEHALF OF THE BOARD OF DIRECTORS
“James Tuer”
James Tuer, CEO
For further information:
James Tuer
Ph: 604-688-3415
www.fjordlandex.com
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical
fact included in this news release, including, without limitation, statements regarding the use of proceeds from the private
placement, and other future plans and objectives of the Company are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include market prices, general economic, market or business conditions,
regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.
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 or accuracy of this release.