FPX Nickel laying groundwork for environmental assessment

FPX Nickel (TSX-V: FPX; OTCQB: FPOCF) outlined plans for advancement of the Baptiste nickel project in 2025. Following the completion of the robust 2023 preliminary feasibility study, the company's 2025 activities will build on strong progress made in 2024, prioritizing the advancement of further engineering studies, baseline environmental data collection, and continued positive engagement with First Nations and the provincial and federal governments in preparation for anticipated entry into the environmental assessment process in the second half of 2025.

Martin Turenne, FPX's CEO, stated, "In 2025, FPX is focused on completing the key workstreams to initiate the EA process, which is the key critical path activity for the overall development of the Baptiste nickel project. We are committed to working in partnership with the multiple First Nations communities connected to the project, including the proposed mine site and associated off-site infrastructure such as the powerline and access road. This collaborative approach has resulted in targeting a later entry into the EA process than originally planned, in recognition of the desire by the company, First Nations and the provincial and federal governments to align on the scope and design of the regulatory process in advance of initiating the EA."

In September 2024, FPX announced that British Columbia identified the Baptiste nickel project as the first project to be included in the province's new critical minerals office (CMO), a provincial strategy action to enable the prioritization of critical minerals projects in B.C. FPX reported the CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the project's entry into the EA process.

FPX has initiated collaborative project design activities with First Nations in advance of the EA process. In 2024, FPX supported the formation of a First Nations working group involving multiple nations to define a process for multi-lateral information sharing and collaborative decision-making, with the objectives of working with the First Nations to assess and define the project, and to consider socio-economic impacts and opportunities, to ensure local communities can maximize benefits from the project. In 2025, it is expected the First Nations working group will establish one or more sub-tables which will enable focused reviews and consideration of various Project parameters, such as mine design and socio-economic considerations and opportunities.

Company official have also begun cultural and environmental baseline studies for the Baptiste nickel project since early 2022, including surface water hydrology and water quality, wildlife, vegetation, fisheries and aquatics, and archeology programs. Work teams completed ongoing and expanded programs in 2024 in preparation for the EA process. The 2025 program will continue to study the project area, and includes ongoing wildlife, climate, hydrology, water quality and hydrogeology work.

The cultural and environmental studies for the project are being conducted by local Indigenous-owned and -affiliated businesses in the project area. This approach targets the integration of Indigenous perspectives into the scoping and execution of these studies and provides a strong collaborative basis for eventual consultation activities associated with the EA process.

It is anticipated the company will have collected sufficient cultural and environmental baseline data to initiate the EA process by the second half of 2025.

In 2024, FPX established a variety of feasibility study initiatives. Following the completion of the second phase of engineering field investigations, the feasibility study is expected to be completed in 2027.

More information is posted on www.FpxNickel.com.