Vior Signs Letter of Intent with Soquem to Advance Its District-Scale Skyfall Nickel Project
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VIOR SIGNS LETTER OF INTENT WITH SOQUEM TO ADVANCE ITS DISTRICT-SCALE
SKYFALL NICKEL PROJECT
MONTREAL, CANADA, December 21, 2022 - VIOR INC. (“VIOR” or the “Corporation”), (TSX-V: VIO, OTC:
VIORF and FRANKFURT: VL51) is pleased to announce that it has signed a Letter of Intent (the “LOI”)
with SOQUEM Inc. (“SOQUEM”), a subsidiary of Investissement Québec , on its recently
consolidated Skyfall Nickel project (“Skyfall” or the “Project”), located in the Abitibi Greenstone
Belt, Québec, see fig. 1.
The LOI outlines the principal terms and conditions that will form the basis for a definitive Option
Agreement (the “Agreement”) between VIOR and SOQUEM; providing SOQUEM with the right to
acquire a 50% undivided interest in the Project, and if the Option is exercised by SOQUEM, the
LOI outlines the principle terms of a future Joint Venture Agreement between V IOR and
SOQUEM. The parties agree that an Agreement will be finalized and executed on or before
January 25, 2023 and will be subject to the typical customary conditions, including receipt of all
regulatory approvals.
LOI Highlights:
• SOQUEM will have the option to acquire a 50% undivided interest in the Skyfall Nickel
project, with VIOR owning the other 50% and being the operator
• SOQUEM will finance exploration work commitments totalling $2.5 million over a two -
year period
• SOQUEM will make cash payments to VIOR totalling $350,000 over a two-year period
Mark Fedosiewich, President and CEO of VIOR, stated : “We are very excited to have a strong
partner like SOQUEM to help support our efforts and to validate the potential at our Skyfall Nickel
project. This Agreement is expected to provide VIOR shareholders with a strengthened financial
position, allowing us to better focus and alloca te capital in our overall exploration efforts , in
particular at our flagship Belleterre gold project. This partnership with SOQUEM, a well-financed
and socially responsible exploration company in Quebec, demonstrates the Quebec
Government’s strong commitment to aggressively explor e and develop high-potential strategic
metals projects for the North American battery metals market.”
Mr. Fedosiewich continues, “ Also, it is important for V IOR shareholders to note, that while the
execution of a definitive Agreement will provide another great value creation opportunity to
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advance the Nickel potential at Skyfall, we remain firmly committed to rapidly advancing our
flagship Belleterre gold project in Quebec . Our technical team is intently working to wards
completing the data compilation program, a new regional litho -structural model, and an
aggressive drill targeting initiative and presentation for early 2023”.
The Skyfall Nickel project is located in Quebec , approximately 150 kilometres (“km”) east of
Lebel-Sur-Quevillon and 102 kms south of Chapais. The Project, consisting of 925 claims has been
consolidated by VIOR over the past two years via numerous property acquisitions and map claim
designations. When the consolidation of the Skyfall project began in early 2020, VIOR recognized
its considerable gold mineralization potential , as it is situated east of Osisko Mining's seven
million ounce gold Windfall project (source: Osisko Mining’s (‘’Osisko’’) Windfall MRE dated June
7,2022) in the Urban -Barry greenstone belt. This region is known for its gold deposits, and the
Skyfall project still has the potential to be an extension of the urban deformation zone.
However, following the 2022 field season , VIOR recognized that the Skyfall project, covering an
area of 51,515 ha (or 515 sq.km.), encompasses the entire geological assemblage of a favorable
host for potential nickel deposits not previously known. It is this shift in geological potential that
has convinced the team at SOQUEM to pursue a partnership that will help to rapidly advance the
understanding of Skyfall's district -scale potential and unlock the untapped possibilities of this
promising region.
LOI Terms and conditions:
According to the LOI, SOQUEM will have the option to acquire a 50% undivided interest in the
Project for a period of two (2) years beginning April 1, 2023, by fulfilling the following conditions:
(i) Financing exploration work commitments totalling $2,500,000 a s per the following
schedule:
(a) $500,000 before March 31, 2023; and
(b) an additional $1,000,000 before April 1, 2024; and
(c) an additional $1,000,000 before April 1, 2025
(ii) Cash payments to VIOR totalling $350,000 as per the following schedule:
(a) $50,000 on the signing of the definitive Agreement
(b) $75,000 on or before April 1, 2023
(c) $100,000 on or before April 1, 2024; and
(d) $125,000 on or before April 1, 2025
VIOR will be the Operator. Upon satisfaction of all financial obligations required by SOQUEM to
earn their 50% interest in the Project, the parties will then e xecute a Joint Venture Agreement
for the Project with all terms and conditions to be set out in the final Agreement.
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Further updates will be provided upon execution of a definitive Agreement, and t here is no
assurance that an Agreement will be completed as proposed.
MORE ABOUT THE SKYFALL NICKEL PROJECT
VIOR recently identified a strong potential for nickel deposits at its Skyfall project after
delineating a 47 km -long mafic/ultramafic (M-UM) lava sequence and identifying several small
highly differentiated ultramafic intrusions.
Field mapping and sampling have recognised volcanic textures including spinifex, differentiated
flows, cumulates , and ultramafic sill along with confirm ing an ~30 km geochemical signature
indicative of a komatiite domain . In addition to the se affirmatory features, the VIOR technical
team has identified a strong geophysical signature spanning 47 km, typical of known Archean
Sulphide-Rich Komatiite Type Deposits, see fig 2.
The Skyfall project is accessed by all season logging roads and is proximal to hydroelectric lines,
and lodging. In the southern part of the Project, the bedrock exposer is extensive and easily
accessible, which allows for cost -efficient exploration. Overall, the Project's location and
favorable exploration conditions provide for a significant competitive advantage. To learn more
about Skyfall Nickel Project.
Figure 1: General location of Skyfall Nickel project
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Figure 2: Mafic/Ultramafic Sequence
ABOUT THE NICKEL MARKET AND DEMAND
Nickel has been recognized as a strategic ally important metal by the US and Canad ian
governments, and is considered a valuable mineral for the future in Quebec. The rapidly
increasing demand for electric vehicles (EVs) is expected to lead to persistent supply shortages
for the metal in the North American market, due in part to the unreliable and unsustainable
practices of some nickel production sources. The market for nickel is currently experiencing a
super cycle, providing an opportunity for VIOR investors to benefit from potential new
discoveries in the battery metals sector.
ABOUT VIOR
VIOR is a hybrid junior mining exploration company based in Quebec, whose corporate strategy
is to generate, explore and develop high -quality projects in proven and favourable mining
jurisdictions in North America. Through the years, VIOR's management and technical teams have
demonstrated their ability to discover several gold deposits and many high -quality mineral
prospects.
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ABOUT SOQUEM
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration,
discovery and development of mining properties in Quebec. SOQUEM also contributes to
maintaining strong local economies. A proud partner and ambassador for the development of
Quebec’s mineral wealth, SOQU EM relies on innovation, research, and strategic minerals to be
well-positioned for the future.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by Laurent
Eustache, Executive Vice-President for VIOR and Qualified Person as per NI 43-101.
For further information, please contact:
Mark Fedosiewich Laurent Eustache
President and CEO Executive Vice-President
Tel.: 613-898-5052 Tel.: 514-442-7707
[email protected] [email protected]
Website: www.vior.ca
SEDAR: Vior Inc.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the Policies of the TSX Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward -looking statements. All statements, other than of historical facts, that address activities,
events or developments that the Corporation believes, expects or anticipates will or may occur in the future including, witho ut
limitation, the planned exploration program on the Belleterre project, the expected positive exploration results, the timing of the
exploration results, the ability of the Corporation to continue with the exploration program, the availability of the requir ed funds
to continue with the exploration and the approval from the Ministère de l’énergie et des ressources naturelle (“MERN”) of the
request for abandonment of the two mining concessions filed by 9293-0122 Québec Inc. are forward-looking statements. Forward-
looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "esti mate",
"believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on the se words or
comparable terminology. Forward -looking statements are subject to a number of risks and uncertainties, many of which are
beyond the Corporation's ability to control or predict, that may cause the actual results of the Corporation to differ mate rially
from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from
current expectations include, among other things, failure to meet expected, estimated or planned exploration expendit ures, the
possibility that future exploration results will not be consistent with the Corporation's expectations, general business and economic
conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting
requirements, unanticipated weather changes, title disputes and claims, environmental risks, the refusal by the MERN to approve
the request for abandonment of the two mining concessions held by 9293-0122 Québec Inc. as well as those risks identified in the
Corporation's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or
should assumptions underlying the forward -looking statements prove incorrect, actual results may vary materially from those
described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Corporation has
attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be
others that cause results not to be as anticipated, estimated or intended. The Corporation does not intend, and does not assu me
any obligation, to update these forward-looking statements except as otherwise required by applicable law.