FPX Nickel Signs Exploration Agreement with Takla Nation for Klow Property
Suite 320 – 1155 West Pender Street
Vancouver, BC Canada V6E 2P4
Tel: 604.681.8600
e-mail: [email protected]
FPX Nickel Signs Exploration Agreement with
Takla Nation for Klow Property
Vancouver, October 1, 202 5 – FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (“FPX” or the
“Company”) is pleased to announce the signing of an Exploration Agreement (the “Agreement”) with the
Takla Nation for exploration activities associated with the Klow property in central British Columbia. The
Agreement outlines a collaborative framework for FPX and Takla Nation to move forward responsibly with
early-stage exploration, establishing important protocols for engagement, environmental protection,
employment, training, and business opportunities.
“This Agreement underscores our commitment to engagement with Indigenous communities from the
earliest stages of our exploration work,” said Martin Turenne, President, CEO, and Director of FPX. “We
look forward to continuing to work with the Takla Nation, guided by transparency, respect, and a shared
vision for sustainable development in Takla territory.”
“The signing of this agreement marks an important step in strengthening our relationship with FPX. By
establishing clear principles for engagement, this agreement ensures that our voices are heard from the
earliest stages of exploration ,” commented Chief John French of Takla Nation. “ We look forward to
working collaboratively with FPX to protect our lands and ensure shared benefits for our community.”
Background
The Klow Property is situated approximately 120 km northwest of Fort St. James and around 45 km north
of FPX’s flagship Baptiste Nickel Project. Portions of the Klow Property are accessible via an all-season
public road which connects Fort St. James to Takla Landing. Like t he Baptiste Nickel Project , the
exploration target for the Klow property is nickel in the form of awaruite, a sulphur-free, nickel-iron mineral
(Ni3Fe) hosted by serpentinized ultramafic rocks.
Exploration at the Klow Property has advanced in several stages since its initial evaluation. Between 2010
and 2012, FPX conducted geological mapping and rock sampling that delineated a large awaruite target
area measuring approximately 1.5 by 1.0 kilometres, with encouraging surface grades. In 2012, a five-hole,
1,579-metre diamond drill program tested a portion of this target, with hole DH -4 intersecting 316 metres
grading 0.10% nickel-in-alloy1 from 10 metres downhole. In 2024, the Company re -analyzed 68 archived
core samples from DH -4 using Davis Tube Recoverable (DTR) methods, which confirmed strong
correlation with historical nickel-in-alloy values and returned DTR nickel grades averaging 7–10% higher
than the original nickel-in-alloy results. Also in 2024, FPX expanded the Klow mineral claims to 251 km2,
covering mainly prospective ultramafic rocks of the Trembleur Ultramafite, host to mineralization a t
Baptiste.
As announced in May 2025, FPX undertook a summer 2025 surface rock sampling program, 100% funded
by the Japan Organization for Metals and Energy Security (“ JOGMEC”). The Agreement with Takla
Nation will enable planning and readiness for future exploration activities.
Klow Property Earn-In Agreement
As previously disclosed, FPX and JOGMEC have entered into an earn-in agreement (the “Klow Earn-In
Agreement”) which provides JOGMEC the option to earn a beneficial interest in the Company’s Klow
Property in central British Columbia.
The key terms of the Klow Earn-in Agreement are as follows:
• FPX grants to JOGMEC the option to earn a 60% beneficial interest in Klow by funding $1,000,000
in exploration expenditures by no later than March 31, 2027 (extended from a prior deadline of
March 31, 2026 by mutual agreement of the parties)
• Once JOGMEC has earned its 60% beneficial interest in Klow, the parties will thereafter fund
exploration expenditures pro rata to their ownership interest
• If either party’s beneficial interest in Klow is diluted below 10%, that party’s beneficial interest
will be converted into a 1.5% NSR royalty over Klow, with the other party retaining a right to buy-
back 1.0% of the NSR royalty for $3,500,000
Note 1: results were obtained by geochemical analysis and may not accurately represent Davis Tube
Recoverable (DTR) nickel grades. DTR nickel values refer to the portion of the total contained nickel that
is recovered from a magnetically separated fraction of the sample. Nickel -in-alloy results refer to nickel
recovered by a selective geochemical leach which targets nickel contained in awaruite. While both methods
measure nickel in awaruite, awaruite particle exposure and grain size influence each method sl ightly
differently, therefore these results are not directly comparable.
Keith Patterson, P.Geo., FPX’s Vice President, Exploration, FPX’s Qualified Person under NI 43-101, has
reviewed and approved the scientific and technical content of this news release.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel 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
https://fpxnickel.com/ or contact Martin Turenne, President and CEO, at (604) 681 -8600 or
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 u ncertainties, 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.