Nickelex Provides Corporate Update
Nickelex Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2024) -
Nickelex Resource Corporation
(TSXV: NICK) ("Nickelex" or the "Company")
reports that the Company has terminated the Arlington
Property Option agreement with Origen Resources Inc. The Letter Agreement requires, as a condition
precedent of its enforceability, the prior approval of the TSX Venture Exchange, which the Company has
not obtained and therefore the Parties have mutually agreed to terminate the Letter Agreement.
About Nickelex
Nickelex is a Malaspina-Manex Group Company. The Group provides expertise in exploration,
administration, and corporate development services for Nickelex's operations:
Swift Katie gold/copper property
is well located near Salmo, British Columbia in an area that has
historically hosted several important mining districts and is underlain by rocks favourable for the
discovery of both copper-gold porphyry deposits and high-grade gold quartz veins. Exploration to date
has identified three separate Cu-Au deposits over an 1800 metre cumulative strike-length, and two
prominent gold targets within a 2500-metre-long alteration zone which transects the southern part of the
property. It is 100% owned. The Company has now received a permit allowing exploration by diamond
drilling of up to 17 exploration sites in 2024.
Strong Project - Thompson, Manitoba nickel properties
: The company holds an option to acquire
interests in the Strong Project in the North Thompson Nickel Belt. The Agreement is subject to
completion of certain conditions including receipt of Exchange approval. The Company has agreed with
the optionor to hold completion of the agreement conditions in abeyance pending satisfaction of certain
conditions precedent.
Pilar Gold Inc. and Laiva Gold Inc.:
operations in Brazil and Finland. Nickelex participated in the
funding, acquisition and development of several gold properties and mines in Brazil, ultimately selling its
interests in such Brazilian properties to Pilar Gold in exchange for 4 million shares of Pilar Gold with an
ascribed book value of C$2,400,000. Upon the formation of Laiva Gold Inc. by Pilar Gold to acquire a
mine and mill in Finland, Nickelex received 500,000 shares of Laiva Gold at a current valuation of
C$400,000. Pilar Gold operates the Pilar gold mine in Brazil and plans to restart the high-grade Sertão
mine in 2024. Laiva Gold owns the Laiva gold mine and mill in Finland and plans to restart operations
this year. Both Pilar Gold and Laiva Gold intend to list its shares on a Canadian Stock Exchange.
John R. Kerr. P. Eng., is the President of Nickelex Resource Corporation and a Qualified Person as
defined by National Instrument 43-101. He has read and approves the technical content of this release.
On behalf of the Board of Directors,
"John Kerr"
John Kerr, President, Nickelex Resource Corporation
For further information, please visit Nickelex's website at
www.nickelexresource.com
or contact us at
604.641.2759 or by email at
.
Neither 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
release.
This news release may contain forward-looking statements including but not limited to comments
regarding the completion of the property transactions, the timing and content of upcoming work
programs, geological interpretations, receipt of property titles, potential mineral recovery processes,
etc. Forward-looking statements in this news release include statements regarding the exercise of the
option to acquire an interest in and the Exchange acceptance of the Strong project acquisition.
Forward-looking statements address future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those currently anticipated in such
statements. These statements are based on a number of assumptions, including, but not limited to,
assumptions regarding general economic conditions, interest rates, commodity markets, regulatory
and governmental approvals for Nickelex Resource Corporation's projects, and the availability of
financing for Nickelex Resource Corporation's projects on reasonable terms. Factors that could cause
actual results to differ materially from those in forward-looking statements include market prices,
exploitation and exploration successes, the timing and receipt of government and regulatory
approvals, and continued availability of capital and financing and general economic, market or
business conditions. Nickelex Resource Corporation does not assume any obligation to update or
revise its forward-looking statements, whether as a result of new information, future events or
otherwise, except to the extent required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/229408