Acquiring 100% interest in 90 mineral claims covering 4,956 hectares in the Mont Laurier region
For Immediate Release TSX-V - NIO
NIO STRATEGIC METALS CLOSES ITS 1478472 B.C. LTD.
ACQUISITION
Acquiring 100% interest in 90 mineral claims covering 4,956
hectares in the Mont Laurier region
(Montreal, Quebec, June 6, 2024) – Nio Strategic Metals Inc. (TSX-V: NIO) (OTC: NIOCF) (“Nio”
or the “Company”) is pleased to announce that, further to its news releases dated May 1st, 2024,
it has closed the acquisition of all outstanding shares, representing a 100% interest, in 1478472
B.C. Ltd. a company holding 90 mining claims comprising the Fafnir Project in Quebec, Canada
(the “Acquisition”).
The Project covers approximately 4,956 hectares (50 square kilometers) located approximately
60 km north west of Mont Laurier, and 165 km north of Gatineau and is home to some large high-
grade niobium and Uranium deposits and discoveries. There is excellent access to all parts of
the property that are held strategically throughout the region.
The Company will be evaluating and prioritizing a work program on the claims during this
summer and will provide additional updates in the coming weeks.
Transaction Terms
In consideration of the acquisition of all outstanding shares in 1478472 B.C. Ltd., the Company
paid the shareholders the sum of $75,000 and issued an aggregate of 3,988,633 common shares
in the capital of the Company (the “Shares”). The Shares are subject to restrictions on resale for
four months and one day from issuance.
The Fafnir project, subject of pass geophysics and ground work has a large intrusive NYF
(Niobium-Yttrium-Fluorine) type pegmatite which has returned 9 ,238 ppm for Niobium, 8,022
ppm of Uranium and 1,288 ppm of Praseodymium (Pr) / Neodymium (Nd). The Structural shear
fault that truncates the property’s South Western flanc, being the likely context for enrichment,
also truncates the Petawaga Indice, site of a bulk sample that revealed 3.4% Niobium, 0.7%
uranium and ~1% to 1.5% Lithium, is located 30 kilometers south west of Fafnir. The Boxi project
located 10 kilometers, North West of Fafnir is further evidence of the strong Rare Earth Elements
enrichment in the area, having reported assays of 14% Uranium, 26% Niobium and 3 ,700 ppm
in Pr/Nd.
“The proposed Acquisition strengthens Nio’s portfolio in niobium properties and is in line with
our strategy to meet increasing demand for the critical minerals needed for electric vehicles,
infrastructure and much needed niobium-based products perfectly fits our renewed strategy to
enter the critical metals ecosystem” said Nio President and CEO Hubert Marleau.
“The niobium potential of this area has started to attract our attention a long time ago. I want to
thank Michel Belisle and both geology teams for this opportunity and getting prepared for an
exploration program on the Fafnir project,” said Marleau.
Qualified Person
Pierre-Jean Lafleur, Eng., and geological consultant, is a qualified person within the meaning of
National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and
approved the technical information contained in this press release.
About Nio Strategic Metals
Nio Strategic Metals is an exploration and development company, with a focus on becoming a
ferroniobium producer. The Company holds a niobium property in Oka, Québec and other
exploration properties in the Province of Québec.
For more information on the Company, please refer to the Company’s public documents available
on SEDAR (www.sedarplus.ca) or on the Company’s website (https://niostratmet.com/).
For more information, please contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
514-560-7623
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
Cautionary Statement on Forward-Looking Information
This news release contains forward -looking statements and forward -looking information
(together, “forward looking statements”) within the meaning of applicable Canadian securities
laws. Statements, other than statements of historical facts, may be forward-looking statements.
Generally, forward-looking statements can be identified by the use of terminology such as “plans”,
“expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or
statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”,
“occur” or “be achieved”, the negative of these terms and similar terminology although not all
forward-looking statement contains these terms and phrases. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results, performance, prospects and
opportunities to differ materially from those expressed or implied by such forward -looking
statements. These risks and uncertainties include, but are not limited to, the risk factors set out in
Nio Strategic Metals’ annual and/or quarterly management discussion and analysis and in other
of its public disclosure documents filed on SEDAR at www.sedarplus.ca, as well as all assumptions
regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors
used in preparing the forward-looking statements are reasonable, undue reliance should not be
placed on these statements, which only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed time frame or at all. Except where required
by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new information, future events or otherwise.