Home > News > Canada Nickel grabbing 80%...

Canada Nickel grabbing 80% of Timmins-area Mann Nickel Project from Noble

Apr 22, 2024

Canada Nickel Company Inc. is exercising its option to acquire an 80% interest in the Mann Nickel Property from Noble Mineral Exploration Inc. as Canada Nickel consolidates its interests in bulk tonnage nickel projects east of Timmins.

The option terms include:

(i) Exploration expenditures of $1.7 million on the Property (completed),

(ii) Cash payment to Noble of $350,000 (completed),

(iii) Annual cash payments to Noble of $100,000 (current),

(iv) Underlying NSR rights to previous claim owners and to Noble (to be registered).

Mark Selby, CEO of Canada Nickel, commenting on the exercise of the option said, “We are pleased to complete the option agreement with Noble after our successful drill program in 2023 where all 15 holes intersected target mineralization. We are looking forward to further unlocking the potential of these three targets in 2024.”

The option agreement was previously announced on November 22, 2021.

Statement Regarding TSX Venture
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.

The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval. The common shares issued pursuant to the above noted acquisitions will be subject to a four month hold period under applicable Canadian securities laws. Some transactions may have been approved prior to this release.

Tags: Northern Ontario / Deals & Financial / Battery Metals / All Articles