TORONTO, Jan. 30,
2025 /CNW/ - NiCAN Limited ("NiCAN" or
the "Company") (TSXV: NICN) (OTCQB: NILTF) (FRA: W8Y) is pleased to
announce that the Company and Nisichawayasihk Cree Nation
("NCN") have signed an Exploration Agreement ("Agreement") related
to the Pipy Project in Thompson
Manitoba.
The Exploration Agreement is a framework establishing how the
two parties will support and work together to advance exploration
activities at the Pipy Project, which lies within NCN's Traditional
and Ancestral Territory. The terms of the Agreement include
protocols for environmental monitoring and the potential for
business relationships and training.
This Exploration Agreement represents significant progress, and
given NiCAN has already completed the Heritage Resources screening,
the Company expects to receive a work permit for the initial
exploration phase at the Pipy Property, in a timely fashion.
Brad Humphrey, President
and CEO of NiCAN, commented, "NiCAN could not be more pleased to
formalize our strong relationship with NCN, and we look forward to
engaging in a collaborative and respectful manner. We wish to thank
NCN for their support in working towards signing this Agreement
that clearly sets a strong foundation from which to build as the
Pipy Project advances."
"Signing the Exploration Agreement is a critical milestone
for the Pipy Project and marks an important step in the permitting
process. Engagement will continue as the project advances, however
with the Agreement now in place, we anticipate receiving a work
permit from the Manitoba Permits Office in a timely fashion,
approving the initial phase of exploration at the Pipy
Project."
Pipy Project Overview
The Pipy Properties consist of three project areas, Pipy South,
Pipy North and Pipy West, totaling 39.1 km2 in the
Thompson area (Figure 1). Initial
exploration activities will focus on the Pipy South Project, which
is adjacent to the Mystery Lake South area approximately 12km
northeast of the city of Thompson
and Vale's Thompson Nickel Mine with excellent road access and
local infrastructure.
The Pipy South Project is underlain by an 8km long synclinal
structure exposing Ospwagan Group sediments including the critical
Pipe Formation that hosts the nickel deposits in the Thompson
Nickel Belt.
Qualified Person
Mr. Stanley Clemmer, P.Geo, a
consultant to NiCAN, who is a qualified person under National
Instrument 43-101 – Standards of Disclosure of Mineral Projects
("NI 43-101") has reviewed and approved the scientific and
technical information in this press release.
About NiCAN
NiCAN Limited is a mineral exploration company, trading under
the symbol "NICN" on the TSX-V. The Company is actively exploring
two nickel projects, both located in well-established mining
jurisdictions in Manitoba,
Canada.
www.nicanltd.com
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Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains certain
"forward-looking information" under applicable securities laws
concerning the proposed financing, business, operations and
financial performance and condition of NiCAN Limited.
Forward-looking information includes, but is not limited to, the
size and timing of the drill program, results of the drill program,
interpretations of the various surveys, NiCAN's ability to identify
mineralization similar to that found in prior drill holes, the
benefits and the potential of the properties of the Company; future
commodity prices (including in relation to NiEq calculations);
drilling and other exploration potential; costs; and permitting.
Forward-looking information may be characterized by words such as
"plan," "expect," "project," "intend," "believe," "anticipate",
"estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking
information is based on the opinions and estimates of management at
the date the statements are made and are based on a number of
assumptions and subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking information.
Many of these assumptions are based on factors and events that are
not within the control of the Company and there is no assurance
they will prove to be correct. Factors that could cause actual
results to vary materially from results anticipated by such
forward-looking information includes changes in market conditions,
fluctuating metal prices and currency exchange rates, the
possibility of project cost overruns or unanticipated costs and
expenses and permitting disputes and/or delays. Although the
Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking information, there may be other
factors that cause actions, events or results not to be
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. The Company undertakes no
obligation to update forward-looking information if circumstances
or management's estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not
to place undue reliance on forward-looking information.
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in policies of the TSX-V) accepts responsibility
for the adequacy or accuracy of this release.
SOURCE Nican Ltd.
