Canada Nickel Announces Filing of Technical Report for Previously Announced Deloro Project Initial Resource

Rhea-AI Summary

Canada Nickel Company Inc. (TSXV: CNC) (OTCQB: CNIKF) has filed a technical report for its Deloro Nickel Sulphide Project near Timmins, Ontario. The report, prepared in accordance with NI 43-101, supports the initial mineral resource estimate announced on July 18, 2024. Deloro is the first of seven additional resources expected to be published by mid-2025. The project benefits from its proximity to Timmins and existing infrastructure, as well as a low average overburden of 6 meters. CEO Mark Selby expressed excitement about the company's regional exploration program success, with a comprehensive update expected next week.

Positive

• Filing of NI 43-101 compliant technical report for Deloro Project
• Advantageous location near Timmins and existing mining infrastructure
• Low average overburden of 6 meters at Deloro Project
• First of seven additional resources expected by mid-2025

Negative

• None.

TORONTO, Sept. 4, 2024 /PRNewswire/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQB: CNIKF) today announced that the Company has filed on SEDAR+ an independent technical report (the "Report") prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the initial mineral resource estimate for its 100% owned Deloro Nickel Sulphide Project ("Deloro") near Timmins, Ontario. There are no material differences in the Report from those results disclosed in the Company's news release dated July 18, 2024. The Mineral Resource Estimate, effective as of July 17, 2024, was prepared following the CIM Definition Standards for Mineral Resources and Reserves (November 29, 2019).

Mark Selby, CEO of Canada Nickel commented, "Deloro is the first of seven additional resources we expect to publish between now and mid-2025. Deloro has an advantageous location near both Timmins and the mining and processing infrastructure at the Dome Mill, and benefits from a relatively low overburden of an average of just 6 metres. We are very excited about the success of our regional exploration program and expect to provide a comprehensive update next week."

The full technical report dated September 3, 2024, with an effective date of July 17, 2024 is entitled "National Instrument 43-101 Mineral Resource Estimate and Technical Report on the Deloro Nickel-Cobalt Sulphide Project." The Report was prepared for Canada Nickel by Caracle Creek International Consulting Inc. and can be found under the Company's issuer profile at www.sedarplus.com.

Qualified Person

Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as defined in NI 43-101, has reviewed and approved the scientific and technical information in this news release.

About Canada Nickel 

Company Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets. Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero NickelTM, NetZero CobaltTM, NetZero IronTM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. For more information, please visit www.canadanickel.com.

For further information, please contact:

Mark Selby CEO
Phone: 647-256-1954
Email: info@canadanickel.com

Cautionary Note and Statement Concerning Forward Looking Statements

This press release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the potential of Deloro, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, timing and completion (if at all) of additional mineral resource estimates, the potential of the Timmins Nickel District, strategic plans, including future exploration and development plans and results, and corporate and technical objectives. Forward-looking information is necessarily based upon several assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Canada Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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SOURCE Canada Nickel Company Inc.

FAQ

What is the Deloro Nickel Sulphide Project's location and ownership?

The Deloro Nickel Sulphide Project is 100% owned by Canada Nickel Company Inc. and is located near Timmins, Ontario.

When was the initial mineral resource estimate for Deloro announced?

The initial mineral resource estimate for the Deloro Project was announced on July 18, 2024.

What is the effective date of the Deloro Project's Mineral Resource Estimate?

The Mineral Resource Estimate for the Deloro Project has an effective date of July 17, 2024.

How many additional resources does Canada Nickel (CNIKF) expect to publish by mid-2025?

Canada Nickel expects to publish seven additional resources between now and mid-2025, with Deloro being the first.