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Yahoo
27-05-2025
- Business
- Yahoo
Class 1 Nickel Airborne Geophysical Survey Identifies Multiple New Targets at River Valley PGE-Cu-Ni Project, Ontario, Canada
TORONTO, May 27, 2025 (GLOBE NEWSWIRE) -- Class 1 Nickel and Technologies Limited (CSE: NICO | OTCQB: NICLF) ("Class 1' or the "Company") is pleased to announce results from its previously completed high-resolution electromagnetic-magnetic airborne geophysical survey (see Class 1 news release 23 April 2025) over its River Valley PGE-Cu-Ni Project (the 'RV Project'), located about 65 kilometres northeast of the City of Sudbury, Ontario, Canada. The RV Project covers approximately 2,916 ha, within which lies several kilometres of prospective geology and known PGE-bearing sulphide mineralization categorized as Contact-Style PGE-Cu-Ni and hosted by the River Valley Intrusion ('RVI'). The RV Project is immediately south of the advanced River Valley Palladium Project being developed by New Age Metals Inc. The Company engaged Geotech Ltd ('Geotech') to fly a helicopter-borne VTEM™ Plus time-domain electromagnetic and horizontal magnetic-gradiometric survey (the 'Survey') over the RV Project. The final Survey totalled about 254 line-km covering part of the southern contact and part of the eastern footwall of the RVI (Figure 1). Highlights from the Survey include: Geophysical mapping of known surface to near-surface sulphide-hosted Contact-Style PGE-Cu-Ni sulphide mineralization (Figure 2). New surface and near-surface exploration opportunities along and near the Crerar PGE Trend and also well outside known sulphide occurrences (Figure 2). Several new surface features requiring ground follow-up, based on known correlation between hydrothermal alteration and magnetite destruction or conversion (Figure 3). Magnetics suggest known PGE trends continue along strike and that other trends, parallel to the known PGE trends, could exist, requiring ground-truthing (Figure 3). CEO David Fitch commented, 'The results from this first-ever VTEM™ Plus survey covering this area of the River Valley Intrusion and our multi-kilometre Crerar PGE Trend are exciting, providing the Company's technical team with numerous surface and near-surface targets to follow-up on in the soon to be launched summer field program. As we confirm these new targets, we will commence detailed surface mapping and sampling, geophysical surveys, and trenching to expose and understand these PGE-Cu-Ni targets.' Geophysical surveys are not definitive and do not carry any guarantee of a mineral discovery and that in addition to conductive sulphide mineralization, bedrock conductors can also be caused by graphite, conductive structures, and barren sulphides. Results from neighboring properties do not necessarily reflect those that exist within Class 1 Nickel's RV Project. River Valley PGE-Cu-Ni Project The RV Project, covering known Contact-Style PGE-Cu-Ni sulphide mineralization (Crerar PGE Trend) in the southern part of the intrusion (Figure 1), provides PGE-focused exploration upside to the Company's portfolio as well as exposure to critical minerals, PGE, copper, and nickel. The RV Project is underlain by gabbroic to anorthositic rocks of the Paleoproterozoic RVI with a focus on targeting the productive Marginal and Inclusion-Bearing zones. Figure 1. Outline of the RV Project mining claims (red boundary) that define the River Valley PGE Project and the area surveyed (blue boundary) using Geotech's VTEM™ Plus airborne system (base geology from OGS, 2011: Ontario Geological Survey. 1:250 000 scale Bedrock Geology of Ontario; Miscellaneous Release–Data 126 – Rev.1). Versatile Time Domain Electromagnetic (VTEM™) Plus Survey In March 2025, Geotech carried out a helicopter-borne geophysical survey over the River Valley PGE-Cu-Ni Project, near River Valley, Ontario. Principal geophysical sensors included a versatile time domain electromagnetic (VTEM™ Plus) system and a horizontal magnetic gradiometer with two caesium sensors. Ancillary equipment included a GPS navigation system and a radar altimeter. About 254 line-kilometres of geophysical data were acquired during the survey. The Survey was flown in a northwest-southeast direction with traverse flight line spacings of 100 metres and 1 km-spaced tie lines in a northeast direction. Information and data was reported in the WGS 84 Datum, UTM Zone 17 North. VTEM™ and Magnetic Survey Interpretation VTEM™ conductor anomalies were first identified based on conductance and subsequently reviewed for possible cultural interference in Google Earth images. These filtered anomalies were then prioritized (the 'Targets') and integrated with other data and information (Figure 2 and Figure 3), including total magnetic intensity (TMI), magnetic first vertical derivative (1VD), magnetic tilt angle derivative (TDR), property geology, known sulphide mineral occurrences and trends, and known historical drilling compiled from assessment reports and the Ontario Drill Hole Database (ODHD). Figure 2. Generalized geology from the southeastern River Valley Intrusion (OGS, 2011), showing the River Valley PGE Property boundary and the location of known sulphide mineralization, PGE-sulphide trends such as the Crerar PGE Trend, and historical drill hole collars. Electromagnetic picks, known mineralized trends, and potentially new areas of sulphide mineralization are shown in Figure 3. These and other very positive results from the Survey will form the subject of this summer's exploration program that will include geophysical ground-truthing, mapping and sampling, geophysical surveys, and trenching. Figure 3. Magnetic Tilt Angle Derivative overlain on the generalized geology from the southeastern River Valley Intrusion (OGS, 2011), showing the location of the River Valley PGE Property boundary, location of known sulphide mineralization, PGE-sulphide trends such as the Crerar PGE Trend, historical drill hole collars, and geophysical (EM and structural) picks. The Geophysical Structural Picks represent some of the new trends that will be ground-truthed during this summer's field program. Qualified Person Technical information and data in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans ( PGO #0183), a geological consultant to the Company, and a Qualified Person under the definitions established by National Instrument 43‐101. About Class 1 Nickel Class 1 Nickel and Technologies Limited (CSE: NICO | OTCQB: NICLF) is a Mineral Resources Company primarily focused on the exploration and development of its 100% owned komatiite-hosted nickel sulphide projects: the Alexo-Dundonald Project ('A-D'), near Timmins, Ontario (4 nickel sulphide deposits) and the Somanike Project, near Val-d'Or, Quebec (includes the historical Marbridge Ni-Cu Mine). Both projects comprise extensive property packages covering past-producing nickel mines, offering excellent exploration upside and near-term production opportunities. The Company holds 100% interest in its River Valley PGE Project located about 65 km northeast of the City of Sudbury, the world's largest and longest operating nickel-copper-cobalt-PGE mining camp (see Class 1 news release 13 December 2023). Outside of the River Valley PGE Project, Class 1 is advancing its Alexo-Dundonald Project toward near-term production and at the same time continue brownfield and greenfield exploration on its large property package to aggregate additional nickel resources. The A-D Project sits on a 14+ km strike-length, folded komatiite unit containing four nickel-copper-cobalt-PGE mineral resources plus numerous underexplored sulphide occurrences. Decades of successful capital expenditure and investment into the Project has resulted in the discovery and delineation of the four mineral resources but the greater Property area remains underexplored. The A-D Project was previously mined (ca. 2005) via a direct shipping model, and the Company is investigating the possibility of a Preliminary Economic Assessment (PEA) study to determine the best path forward. For more information, please contact: Mr. David Fitch, President & CEO T: +61.400.631.608 E: info@ For additional information please visit our website at and our Twitter feed: Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this news release. 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 SEDAR+ ( 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. Photos accompanying this announcement are available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
29-04-2025
- Business
- Cision Canada
Abitibi Metals Advances Exploration with New Geophysical Initiatives at B26 Deposit
Highlights: Two geophysical surveys completed at the B26 Deposit: 1,028 line-km heliborne VTEM™ Plus and magnetic gradiometer survey covering the entire property Downhole Pulse EM survey in three selected drill holes on the boundaries of the B26 Deposit Follow-up on the high-priority gravity anomaly identified on the east side of the B26 Deposit: 400–500m in diameter at 800m depth Lies outside current mineralized footprint Historical drill highlights on anomaly boundary include: 1.2% CuEQ over 10.5m (Hole 1274-16-231) 2.4% CuEQ over 11.8m incl. 36.5% CuEQ over 0.7m (Hole 1274-16-239) 2.7% CuEQ over 10.5m incl. 15.1% CuEQ over 1.1m (Hole 1274-17-248) Phase III drilling program underway as part of Abitibi's 2025 exploration strategy LONDON, ON, April 29, 2025 /CNW/ - Abitibi Metals Corp. (CSE: AMQ) (OTCQB: AMQFF) (FSE: FW0) ("Abitibi" or the "Company") is pleased to announce the completion of fieldwork at two geophysical initiatives at the B26 Deposit, further strengthening its exploration efforts at both the regional and deposit scale. These initiatives build on previously announced gravity survey results and mark a significant step forward in the Company's 2025 exploration program. On November 16, 2023, the Company entered into an option agreement on the B26 Deposit to earn up to 80% ownership over seven years from SOQUEM Inc. ("SOQUEM"), a subsidiary of Investissement Québec (see news release dated November 16, 2023). For the two surveys—one airborne and one downhole—the fieldwork has been completed, and final processing and interpretation are currently underway. The two surveys are: A high-resolution heliborne VTEM™ Plus and magnetic gradiometer survey covering the entire B26 Property. A Downhole Pulse Electromagnetic (EM) survey within three strategically selected drill holes at the B26 deposit (see figure 1). CEO Jonathon Deluce stated: "We are excited about the ongoing exploration program at B26, with Phase III drilling now underway. Additionally, the completion of fieldwork for these two geophysical surveys represents an important milestone. As our technical team continues to grow, so does our capacity to execute with precision. The integration of VTEM and downhole EM data will enhance our ability to refine and prioritize high-quality drill targets, both at the deposit scale and across the broader B26 Property." Strengthening Target Selection for Phase III Drilling Abitibi Metals has recently commenced its Phase III drill program at the B26 Deposit. To further refine and prioritize 2025 drill targets, fieldwork on complementary geophysical surveys has been completed. These surveys, which combine multiple geophysical methods, will provide critical insights at both the deposit and property scale, helping to guide and enhance exploration efforts. With Phase III drilling underway and valuable data from the geophysical surveys, Abitibi Metals is well-positioned to advance its exploration strategy. The Company remains committed to leveraging advanced geophysical and drilling techniques to unlock the full potential of this high-grade deposit. Final data interpretation from both geophysical surveys is expected in the coming weeks and will directly inform upcoming drill hole targeting. The Company anticipates providing further updates as new drill targets are confirmed and Phase III drilling progresses. Deposit-Scale Exploration Downhole surveys (see figure 1), integrated with geological interpretations and gravity anomalies, will help validate and refine the mineralization continuity beyond the currently defined footprint. For reference, one key target has already emerged with the gravity survey—an excess mass anomaly identified at a depth of 800 meters on the eastern side of the B26 deposit. With a diameter of 400–500 meters, this target presents significant blue-sky potential for expanding the overall tonnage at B26. Most of the target is located outside of the interpreted outline of the mineralized system and elevated copper equivalent grades have been observed in historical drill assays on the target's boundary. Highlights include: 1) 1.2% CuEQ over 10.5m starting from 767.1m (1274-16-231), 2) 2.4% CuEQ over 11.8m starting from 1,111m including 36.5% CuEQ over 0.7m (1274-16-239), and 3) 2.7% CuEQ over 10.5m starting from 990m including 15.1% CuEQ over 1.1m (1274-17-248) (see figures 2 and 3). Property-Scale Exploration At the regional scale, the integration of the geological litho-structural model, gravity anomalies previously released, and VTEM survey data will enable a more informed prioritization of regional drilling targets, optimizing exploration efficiency across the B26 Property as a whole. About the VTEM Survey This helicopter-borne survey, conducted by Geotech, includes a total of 1,028 line kilometers of VTEM™ Plus and magnetic gradiometer surveying, with lines spaced every 75 meters. VTEM is a powerful exploration tool that enhances the ability to identify and delineate conductive zones associated with disseminated and massive sulfide mineralization. The survey offers excellent depth penetration and high-resolution data, making it an essential component of the Company's targeting strategy. About the Downhole Pulse EM Survey Carried out by Geophysics TMC, this survey will focus on three drill holes on the boundaries of the defined resource footprint. By providing valuable conductivity data, the survey will help vector drilling toward high-potential mineralized zones. About the Gravity Survey A surface gravity survey was completed in 2024, covering 1,466 stations distributed over 26 lines spaced between 250 and 500 meters apart. Conducted by Geophysics TMC, the survey data was analyzed by Abitibi Geophysics, which also completed inversion models. A strong gravity contrast was modeled along the down-dip extension of the B26 deposit, by incorporating Soquem's 2017 Gravilog survey results, density measurements from drill holes, and the 2024 surface gravity survey. Through advanced inversion software, Abitibi Geophysics reinterpreted the Gravilog data. This interpretation, developed collaboratively with Abitibi Metals geologists, ensures that each identified anomaly corresponds to a geologically prospective area. Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mr. Louis Gariépy, (OIQ #107538), VP Exploration of Abitibi Metals, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Abitibi Metals Corp: Abitibi Metals Corp. (CSE: AMQ) is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi's portfolio of strategic properties provides target-rich diversification and includes the option to earn 80% of the high-grade B26 Polymetallic Deposit, which hosts a resource estimate of 11.3MT @ 2.13% Cu Eq (Ind) & 7.2MT @ 2.21% Cu Eq (Inf), and the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres amongst four modeled zones. 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. Proud partner and ambassador for the development of Quebec's mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future. ON BEHALF OF THE BOARD Jonathon Deluce, Chief Executive Officer The Company also maintains an active presence on various social media platforms to keep stakeholders and the general public informed and encourages shareholders and interested parties to follow and engage with the Company through the following channels to stay updated with the latest news, industry insights, and corporate announcements: Twitter: Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Forward-looking statement: This news release contains certain statements, which may constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information involves statements that are not based on historical information but rather relate to future operations, strategies, financial results or other developments on the B26 Project or otherwise. Forward-looking information is necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward-looking statements made by or on the Company's behalf. Although Abitibi 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 to differ from those anticipated, estimated or intended. All factors should be considered carefully, and readers should not place undue reliance on Abitibi's forward-looking information. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "estimates," "anticipates," or variations of such words and phrases (including negative and grammatical variations) or statements that certain actions, events or results "may," "could," "might" or "occur. Mineral exploration and development are highly speculative and are characterized by a number of significant inherent risks, which may result in the inability of the Company to successfully develop current or proposed projects for commercial, technical, political, regulatory or financial reasons, or if successfully developed, may not remain economically viable for their mine life owing to any of the foregoing reasons, among others. There is no assurance that the Company will be successful in achieving commercial mineral production and the likelihood of success must be considered in light of the stage of operations.
Yahoo
30-01-2025
- Business
- Yahoo
Core Nickel Commences Property-Wide Airborne Electromagnetic Surveys on its 100%-Owned Mel and Odei River Projects and Grants Stock Options
Saskatoon, Saskatchewan--(Newsfile Corp. - January 30, 2025) - Core Nickel Corp. (CSE: CNCO) ("Core Nickel" or the "Company") is pleased to announce that Geotech Ltd. has commenced helicopter-borne geophysical surveys, including time domain electromagnetics (VTEM) and horizontal magnetic gradiometer using the VTEM™ Plus geophysical system on the Company's 100%-owned Mel and Odei River projects (the "Projects") (Figure 1), as stated in the Company's news release on January 27, 2025. The Projects are situated approximately 20 km to the northwest of Thompson, Manitoba, in the northern region of the Thompson Nickel Belt. The Projects are strategically located in proximity to infrastructure, including Provincial Highway 6, the HBR (Omnitrax) Rail Line and a major hydroelectric transmission line, offering excellent access for future development. Figure 1 - Mel and Odei River Projects Location Map To view an enhanced version of this graphic, please visit: The geophysical surveys will cover approximately 379 line-km on the Mel project and approximately 1,520 line-km on the Odei River project, with 100 m line spacing on both projects (Figure 2). The geophysical surveys will obtain both new coverage and refine historical EM survey results. Upon completion of the VTEM survey on the Mel and Odei River projects, the Company will have modern VTEM coverage across its entire project portfolio, enabling a more comprehensive and strategic approach to target prioritization and exploration planning. The helicopter-borne VTEM™ Plus system, which is known for its high-resolution imaging capabilities, is a versatile time domain electromagnetic system that is particularly useful for locating discrete conductive anomalies. Additionally, the system also contains a high-sensitivity cesium magnetometer-gradiometer for mapping geologic structure and lithology. The survey is being conducted by Geotech Ltd. of Aurora, Ontario, and under the guidance of Stephen Balch, of Balch Exploration Consulting Inc. of Rockwood, Ontario. Figure 2 - Mel and Odei River VTEM Survey Plan To view an enhanced version of this graphic, please visit: Misty Urbatsch, CEO, President, and Director of Core Nickel, commented "Core Nickel is making exciting strides in advancing our exploration efforts on our Mel and Odei River projects with the VTEM survey. Historical drilling at the Mel and Odei River projects over the past 50 years has focused on depths averaging only 200 metres, while the VTEM survey will test depths of up to 400 metres. The near-surface Mel deposit was discovered in the 1960's at approximately 50 metres. Therefore, the new VTEM survey will provide us with a better understanding of the geology and new opportunities for discovery. While previous exploration has primarily targeted shallow mineralization, we see potential below 200 metres, as the neighbouring Thompson mine operates at a depth greater than 1,000 metres in a similar geological setting. This deeper exploration could unlock significant value on our Mel and Odei River projects. A VTEM survey completed on our 100%-owned Halfway Lake project in 2024 identified 14 high-priority targets. These targets will be drill-tested in a 4,000 to 5,000 metre diamond drill program set to commence in the coming weeks. The VTEM survey on the Mel and Odei River projects and our diamond drill program on our Halfway Lake project are exciting steps forward as we continue to explore the full potential of our assets in the Thompson Nickel Belt." Figure 3 - Northern Thompson Nickel Belt Projects: Mel, Hunter, and Odei River To view an enhanced version of this graphic, please visit: The Mel project (Figure 3) hosts the Mel deposit, which is characterized by a historical mineral resource consisting of an indicated resource of 4.28 million tons grading 0.875% nickel (Ni), plus an inferred resource of 1.01 million tons grading 0.839% Ni, at a cut-off of 0.5% Ni.1 The deposit offers significant potential for expansion at depth through ongoing exploration efforts. The Mel project has not had an electromagnetic survey completed since 2004, and the new VTEM™ Plus survey will be crucial to better understand the geology of the Mel deposit and the Mel project. The VTEM™ Plus survey will guide future drill programs to expand the known resource, improve the overall understanding of the deposit's structure, and highlight additional exploration targets on the project. The Odei River project (Figure 3), located to the southwest of the Mel project, presents additional exploration potential. This project is underexplored and has not had a geophysical survey conducted on it since 2003. The VTEM survey will assist in identifying new conductors, which could be indicative of nickel sulphide mineralization, and will help to refine the geological model of the project. This survey represents an important step in unlocking the potential of the Odei River project, guiding future exploration efforts and drill programs in an area that has seen limited exploration to date. Photo 1 - Helicopter Preparing for VTEM Survey at Thompson, Manitoba Airport To view an enhanced version of this graphic, please visit: Stock Options Grant The Company also announces that it has granted incentive stock options to certain directors and officers to purchase up to an aggregate of 1,900,000 common shares of Core Nickel pursuant to the Company's share option plan. The options are exercisable for a period of 3 years at a price of $0.175. The options, and any underlying common shares issued on exercise thereof, will have a hold period expiring May 31, 2025, in accordance with the policies of the CSE and applicable securities laws. Other Business The Company has received the final tranche of $69,100 as nonrepayable funding from the Manitoba Mineral Development Fund (the "MMDF") in November 2024. The total grant awarded to the Company from the MMDF is $207,000. MMDF is a $20M provincial fund administered by the Manitoba Chambers of Commerce that provides funding to strategic economic development projects in northern Manitoba. About Core Nickel Core Nickel Corp. is a junior nickel exploration company that controls 100% of five projects in the prolific nickel district, the Thompson Nickel Belt (TNB) in Northern Manitoba, Canada. The five projects consist of approximately 27,000 hectares of land that is proximal to existing infrastructure, including highways, railways, major hydroelectric transmission lines, and operating mills. Core Nickel has a large contiguous land package in the northern part of the TNB, situated approximately 15-20 km from the City of Thompson. Core Nickel's northern TNB land package consists of three projects: Mel, Hunter, and Odei River. The Mel project encompasses the Mel deposit, which is characterized by a historical mineral resource consisting of an indicated resource of 4,279,000 tons grading 0.875% Ni, plus an inferred resource of 1,010,000 tons grading 0.839% Ni, at a cut-off of 0.5% Ni.1 The target stratigraphy (Pipe Formation) that hosts the Mel deposit, and other deposits in the Thompson Nickel Belt, extend onto the Hunter and Odei River projects and drillhole intersections into the target stratigraphy on the Hunter project have successfully intersected anomalous nickel. The Company also holds two projects in the central TNB near Wabowden: Halfway Lake and Resting Lake. Both projects host the target Pipe Formation associated with known elevated nickel mineralization and are proximal to existing nickel deposits, mills, and other infrastructure. The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Caitlin Glew, P. Geo., Vice-President Exploration for Core Nickel Corp., who has reviewed and approved its contents. References 1 "Technical Report on the Mel Deposit, Northern Manitoba" prepared for Victory Nickel Inc, ShaneNaccashian (P. Geo.) of Wardrop Engineering Inc., March 9, 2007 Mel Historical Mineral Resource Core Nickel Corporation is treating the 2007 Mineral Resource Estimate (MRE) prepared for Victory Nickel Inc. by Shane Naccashian (P. Geo.) of Wardrop Engineering Inc. as a "historical mineral resource" under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and the reader is cautioned not to treat it, or any part of it, as a current mineral resource. Core Nickel has not done sufficient work to classify the historical estimate as a current mineral resource. The historical MRE summarized above has been included simply to demonstrate the mineral potential of the Mel deposit and the Mel project. Core Nickel considers the 2007 MRE to be relevant to the further development of the project; however, is not treating the historical estimate as a current mineral resource. The historical MRE was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019). To upgrade or verify the 2007 historical estimate as current, Core Nickel will need to complete a thorough review of all the 2007 historical MRE information and drill data, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical MRE subsequent to the publication of the resource. Additionally, a full review of the economic parameters utilized to determine current Reasonable Prospectus for Eventual Economic Extraction (RPEEE) would be required in order to produce a current MRE for the Property. Any future mineral resource will need to evaluate the open pit and/or underground potential taking into consideration the current cost and pricing conditions or constraints, along with continuity of the resource blocks. Technical Disclosure The historical results contained within this news release have been captured from Manitoba Integrated Mining and Quarrying System ("iMaQs") as available and may be incomplete or subject to minor location inaccuracies. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person but form a basis for ongoing work on the subject projects. On behalf of the Board of Directors"Misty Urbatsch"Misty UrbatschCEO, President and DirectorCore Nickel Corp. Contacts: Misty Urbatsch, CEO and President General Enquiry Tel: 306-668-6927 Tel: 306-668-6927 Email: murbatsch@ Email: info@ Also find us online: Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release. Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events. To view the source version of this press release, please visit Sign in to access your portfolio
