XCana Petroleum Corp., Announces the Completed Locating & Mapping of a 2100 Acre Nickel Property

Rhea-AI Summary

XCana Petroleum Corp. (OTC PINK: XCPT) has successfully mapped and identified 102 lode claims covering approximately 3.3 square miles in a significant nickel and cobalt district. The company is preparing to record these claims with the Bureau of Land Management (BLM). CEO Mac J. Shahsavar expressed optimism about the nickel project, citing a 54% increase in spot nickel prices since September, indicating strong demand in the sector. Future updates will include the precise location of the target deposit once recording is complete.

Positive

• Successful mapping of 102 lode claims in a significant nickel and cobalt district.
• Nickel spot price increased by 54% since September, indicating strong market demand.

Negative

• None.

CHICAGO, IL / ACCESSWIRE / January 18, 2023 / XCana Petroleum Corp. (OTC PINK:XCPT) announced today that it has completed identifying the boundaries, locating, and mapping of 102 targeted lode claims making up approximately 3.3 square miles of a well documented nickel and cobalt district. XCana is now in the process of naming and prepping each claim for recording to the Bureau of Land Management (BLM). Once the recording to the BLM is completed XCana will disclose the exact location of our target deposit.

Mac J. Shahsavar, P.Eng. Chief Executive Officer of Xcana commented "We are highly optimistic about our nickel project heading into the New Year. Since the company press release in September (9/6/2022 Company News) nickel spot price has risen as high as a 54% increase in price per ton. It is evident that we are in historical times for nickel demand, and our team is ready to answer this call."

Contact & Learn More:

XCana Petroleum Corporation
+1 312-635-5432
xcanapetro@gmail.com

Corporate Website: xcanacorp.com

Corporate Linkedin: https://www.linkedin.com/company/xcana-corp/

Corporate Twitter: https://twitter.com/XcanaCorp

FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at: https://www.otcmarkets.com/stock/XCPT/disclosure

SOURCE: XCANA PETROLEUM CORP

View source version on accesswire.com:
https://www.accesswire.com/735601/XCana-Petroleum-Corp-Announces-the-Completed-Locating-Mapping-of-a-2100-Acre-Nickel-Property

FAQ

What recent announcement did XCana Petroleum Corp make regarding nickel claims?

XCana announced the successful identification and mapping of 102 lode claims covering approximately 3.3 square miles in a nickel and cobalt district.

What are the recent developments in XCana Petroleum's nickel project?

XCana is preparing to record the claims with the Bureau of Land Management and will disclose the exact location of the target deposit.

How much has the nickel price increased according to XCana's press release?

The nickel spot price has risen as much as 54% since September.

What is the significance of XCana's recent mapping announcement?

The mapping is crucial for establishing XCana's presence in a well-documented nickel district and potential future revenue.