NiCAN Receives $300,000 Grant from Manitoba Mineral Development Fund
NiCAN Limited
390 Bay St, Suite 700A
Toronto, ON, M5H 2M8
NiCAN Receives $300,000 Grant from Manitoba Mineral Development Fund
Toronto, Ontario – June 1, 2023 – NiCAN Limited (“NiCAN” or the “Company”) (TSX-V:NICN) has received
approval for a $300,000 grant from the Manitoba Mineral Development Fund ( the “MMDF”) to support
NiCAN’s exploration activities at its Wine Project located in the Snow Lake /Flin Flon area, Manitoba,
Canada. The Company has received the first $150,000 of the grant, with the remainder expected in June
2023.
“NiCAN greatly appreciates the support from the Manitoba Mineral Development Fund and the
Manitoba Chamber s of Commerce ,” Brad Humphrey, President and CEO of NiCAN commented . “This
funding is earmarked for continued exploration at the Wine Project, which has returned truly
impressive drill results to date. We look forward to announcing additional exploration results from the
Wine Gabbro area in the coming weeks . The Comp any also plans to complete geophysical and
geochemical surveys that will drive the exploration program for our next phase of drilling in this area.”
The MMDF is a $20-million provincial fund, launched in July 2020 by the Manitoba Government and
administered by the Manitoba Chambers of Commerce. This fund is specifically dedicated to providing
funding for and supporting economic development and mining projects in northern Manitoba.
About NiCAN
NiCAN Limited is a mineral exploration company, trading under the symbol “NICN” on the TSX -V. The
Company is actively exploring two nickel projects, both located in the well-established mining jurisdiction
of Manitoba, Canada.
Contact Information:
Brad Humphrey Sandy Noyes
President and CEO Investor Relations & Communications
416.565.4007 [email protected]
www.nicanltd.com
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Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains certain “forward -looking information” under applicable
securities laws concerning the proposed financing, business, operations and financial performance and
condition of NiCAN Limited. Forward -looking information includes, but is not limited to, the quantum of
the grant; the timing for receipt of the balance of the grant; intended use of proceeds; drilling and other
exploration potential; costs; and permitting. Forward-looking information may be characterized by words
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such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate”, “estimate” and other similar words,
or statements that certain events or conditions “may” or “will” occur. Forward -looking information is
based on the opinions and estimates of management at the date the statements are made and are based
on a number of assumptions and 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.
Many of these assumptions are based on factors and events that are not within the control of the
Company and there is no assurance they will prove to be correct. Factors that could cause actual results
to vary materially from results anticipated by such forward -looking information includes changes in
market conditions, fluctuating metal prices and currency exchange rates, the possibility of project cost
overruns or unanticipated costs and expenses and permitting disputes and/or delays. Although the
Company has attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in forward -looking information, there may be other factors that
cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance
that forward-looking information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Co mpany undertakes no obligation to update
forward-looking information if circumstances or management’s estimates or opinions should change
except as required by applicable securities laws. The reader is cautioned not to place undue reliance on
forward-looking information.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX -V) accepts
responsibility for the adequacy or accuracy of this release.