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Power Nickel Announces New Assay Results from its Polymetallic Lion Zone Discovery

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Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) has announced assay results from the first five holes of its summer 2024 drilling campaign at the polymetallic Lion Zone discovery. Highlights include:

- PN-24-063: 5.00 m of 5.93% CuEq, including 3.00 m of 7.10% Cu
- PN-24-066: 12.05 m of 2.97% CuEq, including 3.00 m of 1.95% Cu
- PN-24-067: 12.15 m of 2.36% CuEq, including 2.35 m of 7.41% Cu

The results were obtained from targets outside the main Lion Zone in the Halo area. The company has since retargeted drills at a lower pitch further west, finding the main Lion Zone again. Assays on these new holes are pending. The company expects to report on the remaining holes in October.

Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) ha annunciato i risultati delle analisi dei primi cinque fori della sua campagna di perforazione estiva del 2024 alla scoperta polimetallifera della Lion Zone. I punti salienti includono:

- PN-24-063: 5,00 m di 5,93% CuEq, inclusi 3,00 m di 7,10% Cu
- PN-24-066: 12,05 m di 2,97% CuEq, inclusi 3,00 m di 1,95% Cu
- PN-24-067: 12,15 m di 2,36% CuEq, inclusi 2,35 m di 7,41% Cu

I risultati sono stati ottenuti da obiettivi al di fuori della principale Lion Zone nell'area Halo. L'azienda ha successivamente riposizionato le trivelle a un angolo più basso più a ovest, trovando nuovamente la principale Lion Zone. Gli esami su questi nuovi fori sono in attesa. L'azienda prevede di riferire sui fori rimanenti in ottobre.

Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) ha anunciado los resultados de los análisis de los primeros cinco pozos de su campaña de perforación de verano de 2024 en el descubrimiento polimetálico Lion Zone. Los aspectos destacados incluyen:

- PN-24-063: 5.00 m de 5.93% CuEq, incluyendo 3.00 m de 7.10% Cu
- PN-24-066: 12.05 m de 2.97% CuEq, incluyendo 3.00 m de 1.95% Cu
- PN-24-067: 12.15 m de 2.36% CuEq, incluyendo 2.35 m de 7.41% Cu

Los resultados se obtuvieron de objetivos fuera de la principal Lion Zone en el área Halo. Desde entonces, la empresa ha reenfocado las perforaciones en un ángulo más bajo hacia el oeste, encontrando nuevamente la principal Lion Zone. Los análisis de estos nuevos pozos están pendientes. La empresa espera informar sobre los pozos restantes en octubre.

Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF)는 여름 2024 드릴링 캠페인의 첫 다섯 개 홀에 대한 분석 결과를 발표했습니다. 하이라이트는 다음과 같습니다:

- PN-24-063: 5.00 m의 5.93% CuEq, 그 중 3.00 m는 7.10% Cu
- PN-24-066: 12.05 m의 2.97% CuEq, 그 중 3.00 m는 1.95% Cu
- PN-24-067: 12.15 m의 2.36% CuEq, 그 중 2.35 m는 7.41% Cu

결과는 Halo 지역의 주요 Lion Zone 외부의 타겟에서 얻어졌습니다. 회사는 이후 더 서쪽의 낮은 각도로 드릴을 재조정하여 주요 Lion Zone을 다시 찾았습니다. 이 새로운 홀에 대한 분석은 대기 중입니다. 회사는 10월에 남은 홀에 대한 보고서를 발표할 계획입니다.

Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) a annoncé les résultats des essais des cinq premiersforages de sa campagne de forage d'été 2024 sur la découverte pol métalliques de la Lion Zone. Les points forts incluent :

- PN-24-063 : 5,00 m à 5,93 % CuEq, dont 3,00 m à 7,10 % Cu
- PN-24-066 : 12,05 m à 2,97 % CuEq, dont 3,00 m à 1,95 % Cu
- PN-24-067 : 12,15 m à 2,36 % CuEq, dont 2,35 m à 7,41 % Cu

Les résultats ont été obtenus à partir de cibles en dehors de la principale zone Lion dans la zone Halo. L'entreprise a depuis réorienté les forages à un angle plus bas plus à l'ouest, retrouvant à nouveau la principale zone Lion. Les analyses de ces nouveaux forages sont en attente. L'entreprise prévoit de faire un rapport sur les forages restants en octobre.

Power Nickel Inc. (TSXV: PNPN) (OTCBB: PNPNF) hat die Analyseergebnisse der ersten fünf Bohrlöcher seiner Sommer-Bohrkampagne 2024 im polymetallischen Lion Zone Fund bekannt gegeben. Die Höhepunkte umfassen:

- PN-24-063: 5,00 m mit 5,93% CuEq, einschließlich 3,00 m mit 7,10% Cu
- PN-24-066: 12,05 m mit 2,97% CuEq, einschließlich 3,00 m mit 1,95% Cu
- PN-24-067: 12,15 m mit 2,36% CuEq, einschließlich 2,35 m mit 7,41% Cu

Die Ergebnisse wurden aus Zielen außerhalb der Haupt-Lion Zone im Halo Bereich erzielt. Das Unternehmen hat die Bohrungen anschließend weiter westlich mit einem flacheren Winkel neu ausgerichtet und die Haupt-Lion Zone erneut gefunden. Die Analysen dieser neuen Löcher stehen noch aus. Das Unternehmen rechnet damit, im Oktober über die verbleibenden Löcher zu berichten.

Positive
  • High-grade copper equivalent intersections in multiple drill holes
  • Expansion of the Lion Zone by 50% through summer exploration program
  • Continuous success rate increasing confidence in zone continuity
  • Potential for further expansion and thickness regain in offset areas
Negative
  • Results from targets outside the main Lion Zone
  • Decreasing thickness of the zone at depth, suggesting possible fault displacement

Holes 63,66,67 deliver 5-12 metres with CuEq ranging from 2.36% to 5.93%

TORONTO, Oct. 1, 2024 /PRNewswire/ - Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to announce the assay results obtained for the first five holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery.

"We announced our summer exploration program had expanded the Lion Zone by 50% and today we provide the first assays from the program. The results were obtained from targets we now realize were outside the main Lion Zone in what we refer to as the Halo area. Holes 63, 66 and 67 still delivered great value to the project. Five metres of 5.93% CuEq is excellent in hole 63 and 66-67 both showed a very sizeable section of 12 metres of 2.97% CuEq an. d 2.36% CuEq respectively, after this set of holes we retargeted the drills at a lower pitch further west and once again found the main Lion Zone. Assays on these holes are pending" commented Terry Lynch, CEO.

Highlights:

PN-24-063 returned:
5.00 m of 0.48 g/t Au, 24.82 g/t Ag, 4.41 % Cu, 0.21 g/t Pd, 6.15 g/t Pt and 0.47% Ni
     Including:
     3.00 m of 0.73 g/t Au, 37.90 g/t Ag, 7.10 % Cu, 0.30 g/t Pd, 9.26 g/t Pt and 0.50% Ni

PN-24-066 returned:
12.05 m of 0.09 g/t Au, 4.53 g/t Ag, 0.65 % Cu, 6.39 g/t Pd, 0.30 g/t Pt and 0.06% Ni
     Including:
     3.00 m of 0.20 g/t Au, 12.50 g/t Ag, 1.95 % Cu, 2.26 g/t Pd, 0.62 g/t Pt and 0.12% Ni
     With:
     1.00 m of 0.28 g/t Au, 32.4 g/t Ag, 5.08 % Cu, 4.44 g/t Pd, 0.44 g/t Pt and 0.16% Ni

PN-24-067 returned:
12.15 m of 0.12 g/t Au, 8.54 g/t Ag, 1.75 % Cu, 1.99 g/t Pd, 0.36 g/t Pt and 0.14% Ni
     Including:
     2.65 m of 0.16 g/t Au, 8.47 g/t Ag, 1.27 % Cu, 1.01 g/t Pd, 0.84 g/t Pt and 0.11% Ni
     And :
     2.35 m of 0.31 g/t Au, 32.77 g/t Ag, 7.41 % Cu, 8.59 g/t Pd, 0.64 g/t Pt and 0.32% Ni

Figure 1: Longitudinal view of the Lion Zone Discovery; assay results from PN-24-063 to PN-24-067 are presented in red. The current size the of the zone is derived from observation of semi-massive to massive sulphides. An interpreted deformation corridor appears to control the presence and thickness of mineralized sulphides. (CNW Group/Power Nickel Inc.)

Table 1 below presents the significant results of previously released holes, and the current assays. The complete set of results obtained demonstrates a tremendous success rate, which contributes to a continuously increasing level of confidence about the continuity of the zone.

Assays from the remaining holes are now in at the laboratory and the Company expects to report on those in October.

"As we have previously described, the thickness of the massive chalcopyrite zone within the core is ranging from up to 5-10 m true width but decreases to less than 1 metre laterally. The new results, combined with the ongoing structural interpretation and 3D modeling, suggests an inverse relation between thickness and strain intensity. As illustrated on Figure 1, results obtained at depth below the current zone show a decreasing thickness, suggesting that the Zone could be transposed into a deformation corridor (fault); in such scenario, the possibility that the zone regains in thickness on the other side of the fault is very real. It is in our short-term plan to step out a few hundreds of metres from the discovery zone, and explore for such potential offsets," commented Ken Williamson, VP of Exploration.

Note: Length is presented as downhole distance, as gathered from preliminary “quick logs”; true width corresponds to 60<percent>-80%</percent> of such downhole distance in function of the orientation of the hole. *CuEq Rec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and a recovery grade of <percent>80%</percent> for all commodities, consistent with comparable peers. (CNW Group/Power Nickel Inc.)

Figure 2 and Figure 3 below are cross-sections through the Lion Zone, along the holes reported in this current release, presenting the new assay results in their geological context. Core photos provide a visual support, allowing appreciation of the good correlation between sulphides presence and reported polymetallic grades.

Figure 2: Sections 05+50. Mineralized zone is between Red Brackets. Comprised of Massive And Semi Massive Chalcopyrite and Stringers. (CNW Group/Power Nickel Inc.)

Figure 3: Sections 05+00. Mineralized zone is between Red Brackets. Comprised of Massive And Semi Massive Chalcopyrite and Stringers. (CNW Group/Power Nickel Inc.)

QAQC and Sampling

GeoVector Management Inc ("GeoVector") is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.

All samples were submitted to and analyzed at Activation Laboratories Ltd ("Actlabs"), an independent commercial laboratory for both the sample preparation and assaying. Actlabs is a commercial laboratory independent of Power Nickel with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES - 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 - Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.

GeoVector's QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.

The results presented in the current Press Released are complete within the mineralized intervals, but results are still pending for the top portion of both holes reported. QAQC and data validation was performed on these portions of the holes where assays are fully integrated, and no material error were observed.

Qualified Person

Kenneth Williamson, Géo, M.Sc., VP Exploration at Power Nickel, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.

About Power Nickel Inc.

Power Nickel is a Canadian junior exploration company focusing on developing the high-grade Nisk project into Canada's first Carbon Neutral Nickel mine.

The NISK property comprises a significant land position (20 kilometers of strike length) with numerous high-grade intercepts. Power Nickel is focused on expanding the historical high-grade nickel-copper PGE mineralization with a series of drill programs designed to test the initial Nisk discovery zone and to explore the land package for adjacent potential Nickel deposits.

In addition to the Nisk project, Power Nickel owns significant land packages in British Colombia and Chile. The Company is in the process of reorganizing these assets in a related vehicle, through a Plan of Arrangement that will be presented to Power Nickel shareholders of record for their approval.

To obtain Power Nickel's Corporate Presentation, please use the link below:

http://powernickel.com/corporate_presentation.pdf

For further information, readers are encouraged to contact:
Power Nickel Inc.
The Canadian Venture Building
82 Richmond St East, Suite 202
Toronto, ON

Neither the TSX Venture Exchange nor it's Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This message contains certain statements that may be deemed "forward-looking statements" concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," "indicates," "opportunity," "possible" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others, the timing for the Company to close the private placement or the second Nisk option or risk that such transactions do not close at all; raise sufficient capital to fund its obligations under its property agreements going forward; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company's plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company's operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.

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SOURCE Power Nickel Inc.

FAQ

What were the key assay results from Power Nickel's Lion Zone discovery?

Power Nickel (PNPNF) reported high-grade assay results from three drill holes: PN-24-063 with 5.00 m of 5.93% CuEq, PN-24-066 with 12.05 m of 2.97% CuEq, and PN-24-067 with 12.15 m of 2.36% CuEq.

How has the Lion Zone expanded according to Power Nickel's summer 2024 exploration program?

Power Nickel's summer 2024 exploration program has expanded the Lion Zone by 50%, as announced in their latest press release.

When does Power Nickel expect to report on the remaining drill hole assays from the Lion Zone?

Power Nickel expects to report on the remaining drill hole assays from the Lion Zone in October 2024.

What is the potential for future expansion of the Lion Zone according to Power Nickel?

Power Nickel suggests there's potential for the Lion Zone to regain thickness on the other side of a possible fault, and plans to step out a few hundred meters to explore for potential offsets.

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