NORTHCLIFF ANNOUNCES GOVERNMENT OF CANADA FUNDING FOR THE SISSON PROJECT Government of Canada funding for FS Update and additional engineering
NORTHCLIFF ANNOUNCES GOVERNMENT
OF CANADA FUNDING FOR THE SISSON
PROJECT
Government of
Canada
funding for FS Update and additional engineering
VANCOUVER, BC
,
Aug. 7, 2025
/CNW/ - Northcliff Resources Ltd. ("Northcliff" or the "Company")
(TSX: NCF) is pleased to announce that it has received final approval for funding from Natural
Resources Canada ("NRCan") to help advance the Company's Sisson Tungsten-Molybdenum Critical
Minerals Project (the "Sisson Project" or the "Project") in
Canada
. NRCan will provide contribution
funding for up to
C$8.214 million
in support of the costs for the update of the Feasibility Study ("FS
Update") and basic engineering through the Global Partnerships Initiative ("GPI"). The objectives of
the work being funded by NRCan are to build on and complement the programs being supported
through the
US$15 million
(
~C$20.7 million
) in Defense Production Act (DPA) Title III funding
awarded by the U.S. Department of Defense ("DoD"), as detailed in Northcliff's
May 1, 2025
release. This initiative supports
Canada
and U.S. goals to secure supply chains for the critical
minerals needed for important manufacturing sectors, including communication technology,
aerospace and defense, and clean technology.
Located near tidewater on the southeastern coast of
Canada
in
New Brunswick
, the Sisson Project
hosts a deposit with the critical minerals tungsten and molybdenum. The Sisson Project has the
prospects of becoming an accessible and reliable producer, strengthening and diversifying the
supply chain for these two metals used in important industrial, electronic, aerospace and defense
applications, and new technologies.
Northcliff expended some
$70 million
on resource, engineering, environmental and economic studies
on the Sisson Project that culminated in a positive Feasibility Study in 2013, as well as the provincial
and federal processes since that time that resulted in environmental assessment and other key
approvals. The Company is currently focused on advancing the Project through the pre-construction
phase with several aspects of the planned pre-construction program in progress. These include the
FS Update and basic engineering, which is designed to provide the necessary economic and
technical information to support a construction decision. Additionally, detailed project development
planning, project finance and offtake engagement activities have been initiated (
Northcliff June
26,
2025 news release).
"
Canada
is a global leader in mining, including the responsibly sourced critical minerals that power
our economy for clean energy, digital technologies, and national defence. This federal investment
demonstrates
Canada's
commitment to increasing Canadian mineral production to strengthen
domestic supply chains, create Canadian jobs, and make the most of our natural resources, in
New
Brunswick
and across the country ." The Honourable Tim Hodgson, Minister of Energy and Natural
Resources.
Andrew Ing
, Northcliff's Chairman, President and CEO commented, "Bi-lateral investments by the
Canadian and U.S. governments are being made to ensure that the minerals are available to support
newly developing technologies as well as maintain security of supply and North American industrial
competitiveness. Northcliff has the opportunity to contribute to these key objectives by becoming a
reliable, easily accessible, domestic producer of two critical minerals - tungsten and molybdenum.
We appreciate this important additional funding from the Canadian government through the GPI,
which will complement the DPA Title III award from the U.S. Department of Defense, and welcome
the opportunity to work collaboratively with both governments in advancing the Sisson Project
towards a construction decision to develop a domestic and resilient supply chain for critical
minerals."
The disclosure of scientific and technical information contained in this news release has been
reviewed and approved by
Tanya Yang
, P.Eng., a Qualified Person who is not independent of the
Company.
The Canadian to U.S. dollar exchange rate used in the conversions is
US$1
=
C$1.38
.
About Northcliff Resources Ltd.
Northcliff is a mineral resource company focused on advancing the feasibility-stage Sisson Tungsten-
Molybdenum Project located in
New Brunswick, Canada
, to production.
Additional information on Northcliff is available on the website at
www.northcliffresources.com
.
Investor services can be reached at (604) 684-6365 or within
North America
at 1-800-667-2114.
On behalf of the Board of Directors
Andrew Ing
Chairman, President & CEO
This news release includes certain statements that may be deemed "forward-looking statements" or
"forward-looking information" within the meaning of Canadian and
United States
securities law. All
statements, other than statements of historical facts, that address the use of the DoD funds and
Government of
Canada
funds; advancement of the Sisson Project towards a project finance
decision, including the successful development and construction of the planned Sisson tungsten-
molybdenum mine, concentrator and APT plant to become a reliable source of tungsten and
molybdenum are forward looking statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. The assumptions used by Northcliff to
develop forward-looking statements include the following: the actual receipt of funds from DoD and
the Government of
Canada
, the Company's ability to complete construction of Sisson Project mine
and facilities, the Company's ability to arrange the necessary financing beyond the DoD funding and
Government of
Canada
funding to continue operations and develop the Sisson Project, the receipt of
all necessary regulatory approvals for the construction and operation of the Sisson Project; the
relevant laws and regulations in
Canada
and the US; studies and development of the Sisson Project
will continue to be positive; our expectations of continued availability of capital and debt financing,
and no geological or technical problems will occur. Forward-looking information is subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking information. These factors include the risks
that may interfere with the Company's ability to continue development of the Sisson Project, the
Company may not be able to finance and develop the Sisson Project on favourable terms or at all,
relevant regulatory changes, uncertainties with respect to the receipt or timing of required permits,
approvals and agreements for the development of the Sisson Project, the Company may not be able
to secure offtake agreements for the metals to be produced at the Sisson Project, the inherent risks
involved in the exploration and development of mineral properties and in the mining industry in
general, the financial markets and in the demand and market price for tungsten, molybdenum and
other minerals and commodities, and fluctuations in exchange rates, particularly with respect to the
value of the US Dollar and Canadian Dollar; the exploration and development of properties located
within First Nations treaty and Aboriginal groups asserted territories may affect or be perceived to
affect treaty and asserted aboriginal rights and title, which may cause permitting delays or
opposition by Aboriginal groups or communities, environmental issues and liabilities associated with
mining including processing and stockpiling; changes in government policies regarding mining and
natural resource exploration and exploitation, continued availability of capital and financing, and
general economic, market or business conditions, as well as risks relating to the uncertainties with
respect to conflicts in
Ukraine
and the
Middle East
. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. The Company reviews its
forward-looking statements on an ongoing basis and updates this information when circumstances
require it. For more information on the Company, investors should review the Company's annual
information form that is available on its profile at
www.sedarplus.ca
.
SOURCE
Northcliff Resources Ltd.
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CNW 17:08e 07-AUG-25