Canada Nickel consolidates massive 32,000 Acres of Surface Rights for Crawford Project
By Kevin Vincent
Canada Nickel Company Inc. has announced the signing of two definitive agreements on January 6, 2025, marking key milestones for the development of the Crawford Nickel Sulphide Project. The agreements include the completion of a transaction with Noble Mineral Exploration and a definitive agreement with the primary surface rights holder in Crawford and surrounding townships, securing access to 32,000 acres of surface rights critical for the project’s construction.
“Securing access to 32,000 acres of surface rights is another critical step as we complete our permitting and move toward a construction decision on Crawford in 2025,” said CEO Mark Selby. “The surface rights agreement not only ensures the successful development of Crawford but also supports sustainable forestry and wildlife habitat preservation through the transfer of 47,750 acres of mining rights in Kingsmill and Mabee townships—areas without known exploration targets. We are proud to advance the potential of Crawford and the Timmins Nickel District in a manner that benefits the environment and supports future generations.”
ExploreCo Subsidiary Formation and Consolidation
Canada Nickel and Noble Mineral Exploration have entered into a definitive agreement to form a new private company, ExploreCo, consolidating nickel exploration assets northeast of Timmins. This transaction simplifies the ownership and access arrangements for key patents in several regional townships, facilitating future development of Crawford and surrounding properties.
ExploreCo will hold a portfolio of nickel projects, including the existing Mann joint venture, and is expected to formally close by January 31, 2025, pending TSX Venture Exchange approval.
Surface Rights Transaction
Under the definitive agreement with the Surface Rights Holder, Canada Nickel will gain an option to acquire 32,000 acres of surface rights across Crawford and neighboring townships. To secure the option, the Company will issue 5.5 million shares and transfer mining rights for approximately 47,750 acres in Kingsmill and Mabee townships, which are not part of any exploration targets.
The option may be exercised by December 31, 2026, with annual extensions available for up to five additional years. The associated costs for the option exercise and extensions are not material to the overall Crawford project capital budget. Final terms of the agreement remain confidential, pending approval from the TSX Venture Exchange.
About Canada Nickel Company
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to meet growing demand from electric vehicle and stainless steel markets. Anchored by its flagship Crawford Nickel-Cobalt Sulphide Project in Ontario’s Timmins-Cochrane mining camp, the Company is pursuing innovative processes to produce net-zero carbon nickel, cobalt, and iron products.
With these agreements in place, Canada Nickel continues to position itself as a leader in sustainable resource development while advancing its flagship project towards production.
Tags: Northern Ontario / Deals & Financial / Battery Metals / All Articles