FPX Nickel Establishes Technical Advisory Committee with Representatives from Strategic Investors
Suite 320 – 1155 West Pender Street
Vancouver, BC Canada V6E 2P4
Tel: 604.681.8600
e-mail: [email protected]
FPX Nickel Establishes Technical Advisory Committee with
Representatives from Strategic Investors
Vancouver, April 4, 2024 – FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (“FPX” or the
“Company”) is pleased to announce the creation of a Technical Advisory Committee (“ TAC”) to
provide guidance to FPX’s management regarding the exploration and development of the
Baptiste Nickel Project (“Baptiste” or the “Project”) in central British Columbia.
The TAC includes representatives of FPX’s three strategic investors, each holding an
approximate 9.9% interest in the Company’s issued and outstanding shares – Sumitomo Metal
Mining, Outokumpu Oyj , and the confidential corporate strategic investor first announced in
November 2022.
The TAC will benefit from the contribution of members from each of the strategic investors with
diverse experience covering mineral exploration, mine project development and operations,
sustainability and external relations. The group will review project materials and meet with FPX
management on a quarterly basis to address risks and opportunities pertaining to the
development of Baptiste. Consistent with the terms of the Company’s investor rights agreements
with each of its three strategic investors, the mandate of the TAC is strictly of an advisory nature;
decisions regarding the Project will be subject to the sole determination of FPX’s management
and board of directors.
“We are grateful for the engagement of our three strategic investors in supporting the
development of Baptiste,” commented Martin Turenne, FPX’s President and CEO. “Each of the
three strategic investors brings unique technical capabilities, collectively covering the key aspects
of mining, processing and downstream nickel consumption in the stainless steel and electric
vehicle battery supply chains. The FPX management team looks forward to benefiting from this
technical collaboration as we continue to advance Baptiste.”
Market Maker Services
On March 1, 2024, FPX retained PI Financial Corp. (“ PI”) to provide market -making services in
accordance with the TSX Venture Exchange (“TSX-V”) Policies. As disclosed in the Company’s
March 1, 2024 news release, in consideration of the Market Making Services, the Company is
paying PI a monthly fee for a minimum term of three months. For additional clarity, the agreement
provides an initial term of 12 months, which after three months may be terminated by the Company
upon 30 days’ written notice. After the initial 12-month term, the agreement continues on a month-
to-month basis for an unspecified period . As of March 1, 2024, PI did not have any interest,
directly or indirectly in FPX or its securities, and did not possess any right to acquire such interest.
About the Decar Nickel District
The Company’s Baptiste Nickel Project represents a large -scale greenfield discovery of nickel
mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni3Fe) hosted in
an ultramafic/ophiolite complex. The Baptiste mineral claims cover an area of 245 km 2 west of
Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste
Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas
within the same claims package, most notably at the Van T arget which is located 6 km to the north
of the Baptiste Deposit . Since 2010, approximately US $30 million has been spent on the
exploration and development of Baptiste.
The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional and
unceded territories of the Tl’azt’en Nation and Binche Whut’en, and within several Tl’azt’enne and
Binche Whut’enne keyohs. FPX has conducted mineral exploration activities to date subject to
the conditions of agreements with First Nations and keyoh holders.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District,
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 https://fpxnickel.com/ or contact Martin Turenne, President and CEO,
at (604) 681-8600 or [email protected].
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.