FPX Nickel Announces Board Appointment of Former Vale Executive Stuart Harshaw
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Tel: 604.681.8600
e-mail: [email protected]
FPX Nickel Announces Board Appointment of Former Vale
Executive Stuart Harshaw
Vancouver, August 17, 2020 – FPX Nickel Corp. (FPX-TSX.V) (“FPX Nickel” or the “Company”) is
pleased to announce the appointment of Stuart Harshaw, P. Eng., MBA, to the Board of Directors,
effective immediately. Mr. Harshaw is a leading figure in the global nickel market, with over 30 years’
experience in the production and marketing of nickel products worldwide, including in his roles as the
Vice President of Marketing and Operations for Asia Pacific and Vice President, Ontario Operations for
Vale S.A. (“Vale”) until 2017.
“We are very happy to welcome Stuart to the FPX Nickel Board,” commented the Company’s Chairman,
Peter Bradshaw. “Stuart has deep operational experience in the development and management of major
nickel operations in North America and Asia, and has an extensive background in the marketing of nickel
products to global consumers in the stainless steel and battery markets. As a recognized leader in the
global nickel industry, he will play a critical role in helping us to advance our flagship Baptiste Deposit at
the Decar Nickel District, fostering the ongoing development of relationships with key strategic players in
the nickel market, including offtakers, trading companies and major mining companies.”
Mr. Harshaw established a record of success over a 28-year career at Vale and its predecessor firm Inco,
occupying senior leadership roles in operations, marketing and corporate strategy. He was responsible for
creating and managing annual budgets of greater than $1.0 billion and for managing external relations
with provincial and municipal governments and First Nations. Before serving as Vice President
Operations at Vale’s Sudbury complex, Mr. Harshaw acted as Vice President Marketing and Operations
in Vale’s Asia Pacific division, where he was responsible for nickel refineries in Japan, China and Taiwan
and for marketing Vale’s nickel products to the stainless steel, specialty alloy and battery industries. Mr.
Harshaw obtained his MBA from Laurentian University (where he currently serves on the Board of
Governors) and a Bachelor of Science in Metallurgical Engineering from Queen’s University.
The appointment of Mr. Harshaw is subject to receipt of approval from the TSX Venture Exchange and
the Securities Regulatory Authorities. Mr. Harshaw has been granted options on 250,000 shares of the
Company’s common stock, exercisable at a price of $0.45 per share for a five-year period commencing on
August 14, 2020.
About the Decar Nickel District
The Company’s Decar Nickel District claims cover 245 square kilometres of the Mount Sidney Williams
ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia. The District
is a two hour drive from Fort St. James on a high-speed logging road. A branch line of the Canadian
National Railway is less than 5 kilometres east from Decar’s Baptiste Deposit and the BC Hydro power
grid comes within 110 kilometres south of the property.
Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-
iron alloy called awaruite, which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization
has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, the B
Target, the Sid Target and Van Target, as confirmed by drilling in the first three plus petrographic
examination, electron probe analyses and outcrop sampling on all four. Since 2010, more than $25
million has been spent on the exploration and development of Decar.
Of the four targets in the Decar Nickel District, the Baptiste Deposit has been the main focus of diamond
drilling since 2010, with a total of 82 holes and over 31,000 metres of drilling completed. The Sid Target
was tested with two holes in 2010 and the B Target had a single hole drilled into it in 2011; all three holes
intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the
Baptiste Deposit. The Van Target was not drill-tested at that time as rock exposure was very poor prior to
logging activity by forestry companies.
As reported in a NI 43-101 resource estimate prepared on February 26, 2018, the Baptiste Deposit
contains 1.843 billion tonnes of indicated resources at an average grade of 0.123% DTR nickel, for 2.3
million tonnes of DTR nickel, and 391 million tonnes of inferred resources with an average grade of
0.115% DTR nickel, for 0.4 million tonnes of DTR nickel, reported at a cut-off grade of 0.06%. Mineral
resources are not mineral reserves and do not have demonstrated economic viability.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel-Iron Alloy Project,
located in central British Columbia, and other occurrences of the same unique style of naturally occurring
nickel-iron alloy mineralization known as awaruite. For more information, please view the Company’s
website at www.fpxnickel.com or contact Martin Turenne, President and CEO, at (604) 681-8600.
On behalf of FPX Nickel Corp.
"Martin Turenne"
Martin Turenne, President, CEO and Director
Forward-Looking Statements
Certain of the statements made and information contained herein is considered “forward-looking
information” within the meaning of applicable Canadian securities laws. These statements address future
events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's
periodic filings with Canadian securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.