Canada Nickel (TSXV: CNC; OTCQB: CNIKF) recently signed two agreements consolidating surface rights for its Crawford nickel sulphide project in northeastern Ontario. Canada Nickel’s flagship Crawford nickel-cobalt-sulphide project is in the heart of the prolific Timmins-Cochrane mining camp.
The company announced on January 6 it reached a definitive agreement with the primary surface rights holder in Crawford and its surrounding townships. The agreement secures full access to 12,950 ha (32,000 acres) of surface rights. Canada Nickel stated acquiring these rights are essential to building the Crawford nickel project.
Mark Selby, CEO of Canada Nickel, said, “We are proud of our progress in unlocking the potential of the Crawford project and the Timmins nickel district, building a future that benefits the environment and supports future generations."
The nickel producer’s announcement of secure surface rights would represent a crucial step as the company completes its necessary permitting and moves towards a construction decision for Crawford this year. Canada Nickel will transfer 19,324 ha (47,750 acres) of mining rights in Kingsmill and Mabee townships – where no known exploration targets exist – to the surface rights holder.
According to the company, this sizable transfer will create future certainty over this land. Canada Nickel said the transfer will also facilitate the effective and sustainable development of forest and wildlife habitat.
Canada Nickel and Noble Mineral Exploration had entered into this definitive agreement as per the terms of a prior agreement on July 8, 2024. In that agreement, the parties announced the consolidation of a Canada Nickel-Noble joint venture in Mann Township and other Canada Nickel exploration projects east of Timmins into a single private company owned 80% by Canada Nickel and 20% by Noble Mineral Exploration.
Consolidation of all Crawford and adjacent township mining and surface rights facilitates and simplifies acquisition of the required surface rights required to begin construction of the Crawford project. The joint venture of mining properties created a new private company and subsidiary called ExploreCo that consolidated all the interests in the nickel project portfolios for lands northeast of Timmins, Ontario.
ExploreCo’s properties are east of Highway 655 and north of Highway 101, all east of Timmins.
The company expects the TSX Venture Exchange (the TSXV) will close on both the transaction and ExploreCo by January 31, 2025. Canada Nickel has stated it is aware that these moves are subject to necessary approval by the TSXV.
More information on this agreement and the companies involved is available at www.CanadaNickel.com.
January 7, 2025
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