Class 1 Nickel Commences work at Alexo-Dundonald to Upgrade and Increase Mineral Resources
Class 1 Nickel Commences work at Alexo-Dundonald to Upgrade and Increase
Mineral Resources
• Alexo and Dundonald Mineral Resource to be combined
• A positive increase to tonnage and grade is therefore anticipated
• Industry experts P&E Mining Consultants Inc. have been engaged
TORONTO, Aug. 31, 2020 -- Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a
Canadian company developing nickel-copper-cobalt sulphide Mineral Resources 45km northeast of Timmins, Ontario, is
pleased to announce that work has commenced at the Alexo-Dundonald Nickel project in Timmins Ontario to upgrade the
Dundonald South historic Mineral Resource to CIM defined classifications and combine it with the existing Alexo Mineral
Resource.
The Company has engaged mineral industry experts P&E Mining Consultants Inc. (P&E) to validate and classify the
Dundonald Mineral Resource and combine it with Alexo in a NI 43-101 Technical Report.
Mr. Benjamin H Cooper, President of Class 1 Nickel said: “Now that Alexo and Dundonald are together in the one company we
can execute a smart diversified strategy that is two pronged. Firstly, we will focus on a “more of the same” approach at Alexo,
extending the resource along strike, as we build a database for the preliminary economic assessment work and push along
the remaining permitting requirements. And secondly we will take a more aggressive and high impact approach to the 8 high
grade close to surface zones of the Dundonald South Mineral Resource, in order to bring high grade tonnage into the
combined Mineral Resource and increase our overall economics and size.”
P&E Mining Consultants Inc. will work alongside the Company to upgrade the Mineral Resource, assist with the design and
reporting of geophysics and drill programs, permitting, and undertaking a Preliminary Economic Assessment. P&E will utilize
its more than 20 Canadian based associates to leverage experience in geological interpretation, 3D geologic modeling,
technical report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production
scheduling, operating and capital cost estimates and metallurgical engineering.
Mr. Tony Donaghy P.Geo, Principal Consultant - Nickel at CSA Global (an ERM Group Company) and strategic advisor to
Class 1 Nickel affirmed: “I am confident that P&E Mining Consultants Inc. are more than adequately qualified to carry out the
assignment of upgrading the Mineral Resource classification at Dundonald South. P&E knows these projects well and worked
with us together as co-authors on the initial NI 43-101 Technical Report for Alexo-Dundonald.”
Mr. Eugene Puritch, P.Eng., FEC, CET, stated “It’s important for Class 1 Nickel to explain to the market that it possesses
several potentially viable projects in its Timmins land package. Alexo, Kelex, Dundonald North and Dundonald South are all
contiguous and located inside the 1 km komatiite flow. The sum of the parts results in a larger and more diversified Mineral
Resource.”
Initial P&E Mining Consultants Inc. scope of work to include:
• Site visit and assay data validation sampling
• Geological interpretation
• Geostatistical analysis
• Grade Estimation
• Mineral Resource reporting and Technical Report
Class 1 Nickel looks forward to updating the market with the updated combined classified Mineral Resources in the coming
weeks.
Qualified Person
The information in this news release has been reviewed and approved by Eugene Puritch, P.Eng., FEC, CET, president of P&E
Mining Consultants Inc.
About Class 1 Nickel & Technologies Limited
Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its
100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide
projects located near Timmins, Ontario.
For more information, please contact:
Benjamin Cooper, President
T: 416.454.0166
For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information
is characterized by words 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 involves risks, uncertainties
and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied
by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking
information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices,
delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and
development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under
the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and
assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and
regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors
used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on
such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other
than as required by applicable securities laws.