Flying Nickel Engages Mercator to Prepare PGM and Nickel Mineral Resource Estimate for Minago in Manitoba's Thompson Nickel Belt

Rhea-AI Summary

Flying Nickel Mining Corp. engages Mercator Geological Services for independent PGM and nickel Mineral Resource Estimate for Minago project in Manitoba. Significant findings of PGM values correlated with nickel mineralization. Assay results include up to 1.61% Ni and up to 0.832 g/t PGM+Au. Positive for Flying Nickel Mining Corp.

Positive

• Flying Nickel Mining Corp. engages Mercator Geological Services for independent PGM and nickel Mineral Resource Estimate for Minago project in Manitoba. Significant findings of PGM values correlated with nickel mineralization. Assay results include up to 1.61% Ni and up to 0.832 g/t PGM+Au.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - September 28, 2023) - Flying Nickel Mining Corp. (TSXV: FLYN) (OTCQB: FLYNF) ("Flying Nickel" or the "Company") announces that the Company has engaged Mercator Geological Services to commission an independent platinum group metals ("PGM") and nickel Mineral Resource Estimate ("MRE") in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") for the Minago project ("Minago") located in Manitoba's Thompson's Nickel Belt, Canada.

This will be the first Minago MRE to include PGM, based on recent successful PGM assay program completed in June 2023. There were significant findings of PGM values correlated with nickel mineralization.

Highlights from assay results as previously reported in 2023 include:

N-07-07 grading 1.16% Ni, <0.01% Cu, 0.200 g/t Pt, 0.525 g/t Pd and 0.038 g/t Au (0.762 g/t PGM+Au) over an 8.81 meter interval from 140.19 meter downhole.

N-07-09 grading 1.52% Ni, 0.06% Cu, 0.222 g/t Pt, 0.822 g/t Pd and 0.021 g/t Au (1.064 g/t PGM+Au) over a 4.50 meter interval from 262.25 meter downhole.

N-07-13 grading 1.42% Ni, 0.11% Cu, 0.221 g/t Pt, 0.442 g/t Pd and 0.065 g/t Au (0.727 g/t PGM+Au) over a 22.76 meter interval from 269 meter downhole.

N-07-37 grading 1.16% Ni, 0.10% Cu, 0.164 g/t Pt, 0.416 g/t Pd and 0.039 g/t Au (0.619 g/t PGM+Au) over a 14.03 meter interval from 170.35 meter downhole.

N-07-44 grading 1.19% Ni, 0.04% Cu, 0.138 g/t Pt, 0.364 g/t Pd and 0.026 g/t Au (0.528 g/t PGM+Au) over a 19.97 meter interval from 106.30 meter downhole.

N-07-22 grading 1.25% Ni, 0.07% Cu, 0.147 g/t Pt, 0.433 g/t Pd and 0.008 g/t Au (0.588 g/t PGM+Au) over a 7.45 meter interval from 275.25 meters downhole.

N-07-22 grading 1.20% Ni, 0.07% Cu, 0.156 g/t Pt, 0.449 g/t Pd and 0.007 g/t Au (0.611 g/t PGM+Au) over a 6.71 meter interval from 286.39 meters downhole.

N-07-28 grading 1.33% Ni, 0.01% Cu, 0.198 g/t Pt, 0.540 g/t Pd and 0.010 g/t Au (0.749 g/t PGM+Au) over a 6.24 meter interval from 102.23 meters downhole.

N-07-41B grading 1.29% Ni, 0.06% Cu, 0.180 g/t Pt, 0.506 g/t Pd and 0.010 g/t Au (0.695 g/t PGM+Au) over a 14.15 meter interval from 281.79 meters downhole.

N-07-41B grading 1.47% Ni, 0.04% Cu, 0.169 g/t Pt, 0.497 g/t Pd and 0.019 g/t Au (0.685 g/t PGM+Au) over an 8.84 meter interval from 300.07 meters downhole.

N-07-22 grading 0.50% Ni, 0.01% Cu, 0.051 g/t Pt, 0.126 g/t Pd and 0.003 g/t Au (0.180 g/t PGM+Au) over a 4.40 meter interval from 315.60 meters downhole.

N-07-22 grading 1.20% Ni, 0.07% Cu, 0.156 g/t Pt, 0.449 g/t Pd and 0.007 g/t Au (0.611 g/t PGM+Au) over a 6.71 meter interval from 286.39 meters downhole.

N-07-34 grading 0.25% Ni, 0.01% Cu, 0.365 g/t Pt, 0.031 g/t Pd and 0.003 g/t Au (0.399 g/t PGM+Au) over a 5.80 meter interval from 179.20 meters downhole.

N-07-35 grading 1.13% Ni, 0.08% Cu, 0.161 g/t Pt, 0.425 g/t Pd and 0.022 g/t Au (0.608 g/t PGM+Au) over a 26.34 meter interval from 132.94 meters downhole.

N-07-35 grading 1.61% Ni, 0.10% Cu, 0.220 g/t Pt, 0.593 g/t Pd and 0.019 g/t Au (0.832 g/t PGM+Au) over an 3.72 meter interval from 153.44 meters downhole.

B-08-89 grading 1.21% Ni, 0.09% Cu, 0.178 g/t Pt, 0.464 g/t Pd and 0.010 g/t Au (0.653 g/t PGM+Au) over a 7.63 meter interval from 241.39 meters downhole.

N-07-03 grading 0.80 % Ni, 0.06% Cu, 0.302 g/t Pt, 0.634 g/t Pd and 0.008 g/t Au (0.945 g/t PGM+Au) over a 3.96 meter interval from 171.14 meters downhole.

V-08-03 grading 1.51% Ni, 0.01% Cu, 0.194 g/t Pt, 0.399 g/t Pd and 0.037 g/t Au (0.629 g/t PGM+Au) over an 11.07 meter interval from 527.49 meters downhole.

V-08-04B grading 1.30% Ni, 0.10% Cu, 0.176 g/t Pt, 0.458 g/t Pd and 0.061 g/t Au (0.694 g/t PGM+Au) over a 5.33 meter interval from 285.80 meters downhole.

V-08-05 grading 1.11% Ni, 0.07% Cu, 0.134 g/t Pt, 0.353 g/t Pd and 0.048 g/t Au (0.534 g/t PGM+Au) over an 14.60 meter interval from 613.50 meters downhole.

N-07-26 grading 0.31% Ni, 0.289 g/t Pt, 0.42 g/t Pd and 0.004 g/t Au (0.713 g/t PGM+Au) over a 4.99 meter interval from 207.8 meters downhole.

True widths are approximately half the width observed in core.

About the Minago Project

The Minago Project is located in Canada's Thompson Nickel Belt and currently has a NI 43-101 compliant open pit optimized and underground, Measured and Indicated resource of 44.2 million tonnes grading 0.74% Ni (722 million lbs contained nickel) and Inferred resource of 19.6 million tonnes grading 0.74% Ni (319 million lbs contained nickel). This technical report, completed by Mercator and AGP, has an effective date of February 28, 2022, and is available under the Company's profile on SEDAR.

There has been cumulative 90,783 meters of drilling at the Minago Project by 6 operators since 1966. Additionally, Flying Nickel drilled 2,718 meters in 2022 since acquiring the Minago Project in February 2021.

QA/QC

The sampling process incorporated blanks (Ordovician crushed homogeneous limestone), standards (certified reference material: CDN-ME) and duplicates (core duplicate ¼). QAQC samples were inserted at intervals of 20, which represent 6% of samples.

Qualified Person

The disclosure of scientific and technical information contained in this news release has been approved by Robert Smith, a Qualified Person under NI 43-101 who is independent of the company. The historical information referred to this release and shown above were obtained from historical work reports up to date and have not been independently verified by a Qualified Person as defined by NI 43- 101.

Further information on the Company can be found at www.flynickel.com.

FLYING NICKEL MINING CORP.

ON BEHALF OF THE BOARD

John Lee

Chief Executive Officer

For more information about the Company, please contact:

Phone: Phone: 1.877.664.2535 / 1.877.6NICKEL

Email: info@flynickel.com

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained in this news release, including statements which may contain words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management's expectations regarding Flying Nickel's future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.

These factors should be considered carefully, and readers should not place undue reliance on the Flying Nickel's forward-looking statements. Flying Nickel believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Flying Nickel has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Flying Nickel undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/182192