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Class 1 Nickel Appoints Geophysicist Mr. Alan King to the Technical Management Team

  • New AEM VTEM Plus survey with state of the art equipment and processing to be flown over Alexo-Dundonald. 
  • More detailed AEM /Mag surveys planned over 20km2 to confirm possible extents to existing mineralized zones and explore for new targets. 
  • Processing products will include B field profiles, B field tau and 3D RDI Models to assist in location of deeper high conductance targets.

TORONTO, Sept. 03, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company developing nickel-copper-cobalt sulphide Mineral Resources 45km northeast of Timmins, Ontario, is pleased to announce the appointment of highly regarded Geophysicist Mr. Alan King to the technical management team.

Class 1 Nickel is proud to appoint Mr. Alan King to lead our geophysical interpretation and advisory; he is well known and respected in the Mineral Resource industry with particular expertise in Nickel exploration and is looking forward to working with the other members of our expert technical management team on a joint geological/geophysical exploration program.

Mr. Alan King stated, “I am particularly interested in assisting exploration teams to discover new deposits of potential economic viability. There has been a general lack of exploration in the nickel industry over the past 15 years and existing sulphide mines are depleting their known Mineral Resources. I am excited to be part of the Alexo-Dundonald technical team and am eager to get to work on this project. I have done preliminary reviews on the most recent Technical Reports on the properties and they indicate there is potential to expand existing Mineral Resources and discover new zones as the known mineralized zones are open at depth and along strike. We will also apply modern 3D data integration tools and the best available BHEM technology to take full advantage of all new and historical data.”

Alan received a B.Sc. in geology from the University of Toronto in 1976 and an M.Sc. in geophysics from Macquarie University in 1989. From 1976 to 1990 he worked as a geophysicist in exploration and resource development in Canada and Australasia. From 1990 to 2012 he was employed by Inco /Vale as a senior geophysicist and then as Manager of Geophysics with responsibility for global exploration. As Chief Geophysicist for Vale Global Exploration Alan worked on geophysical applications for base metals, iron, manganese, coal and fertilizers (potash and phosphate) as well as target generation using regional and global data sets.

Class 1 Nickel looks forward to updating shareholders regarding planned geophysical campaigns in coming weeks.

Qualified Person
The technical information in this news release has been reviewed and approved by Eugene Puritch, P.Eng. FEC, CET, president of P&E Mining Consultants Inc, and an independent Qualified Person as defined by NI 43-101.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@Class1Nickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is 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 involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Class 1 Nickel Commences work at Alexo-Dundonald to Upgrade and Increase Mineral Resources

  • Alexo and Dundonald Mineral Resource to be combined
  • A positive increase to tonnage and grade is therefore anticipated
  • Industry experts P&E Mining Consultants Inc. have been engaged  

TORONTO, Aug. 31, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company developing nickel-copper-cobalt sulphide Mineral Resources 45km northeast of Timmins, Ontario, is pleased to announce that work has commenced at the Alexo-Dundonald Nickel project in Timmins Ontario to upgrade the Dundonald South historic Mineral Resource to CIM defined classifications and combine it with the existing Alexo Mineral Resource.

The Company has engaged mineral industry experts P&E Mining Consultants Inc. (P&E) to validate and classify the Dundonald Mineral Resource and combine it with Alexo in a NI 43-101 Technical Report.

Mr. Benjamin H Cooper, President of Class 1 Nickel said: “Now that Alexo and Dundonald are together in the one company we can execute a smart diversified strategy that is two pronged. Firstly, we will focus on a “more of the same” approach at Alexo, extending the resource along strike, as we build a database for the preliminary economic assessment work and push along the remaining permitting requirements. And secondly we will take a more aggressive and high impact approach to the 8 high grade close to surface zones of the Dundonald South Mineral Resource, in order to bring high grade tonnage into the combined Mineral Resource and increase our overall economics and size.” 

P&E Mining Consultants Inc. will work alongside the Company to upgrade the Mineral Resource, assist with the design and reporting of geophysics and drill programs, permitting, and undertaking a Preliminary Economic Assessment.  P&E will utilize its more than 20 Canadian based associates to leverage experience in geological interpretation, 3D geologic modeling, technical report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production scheduling, operating and capital cost estimates and metallurgical engineering.

Mr. Tony Donaghy P.Geo, Principal Consultant – Nickel at CSA Global (an ERM Group Company) and strategic advisor to Class 1 Nickel affirmed: “I am confident that P&E Mining Consultants Inc. are more than adequately qualified to carry out the assignment of upgrading the Mineral Resource classification at Dundonald South. P&E knows these projects well and worked with us together as co-authors on the initial NI 43-101 Technical Report for Alexo-Dundonald.”

Mr. Eugene Puritch, P.Eng., FEC, CET, stated “It’s important for Class 1 Nickel to explain to the market that it possesses several potentially viable projects in its Timmins land package. Alexo, Kelex, Dundonald North and Dundonald South are all contiguous and located inside the 1 km komatiite flow. The sum of the parts results in a larger and more diversified Mineral Resource.” 

Initial P&E Mining Consultants Inc. scope of work to include: 

  • Site visit and assay data validation sampling
  • Geological interpretation
  • Geostatistical analysis
  • Grade Estimation
  • Mineral Resource reporting and Technical Report

Class 1 Nickel looks forward to updating the market with the updated combined classified Mineral Resources in the coming weeks.   

Qualified Person
The information in this news release has been reviewed and approved by Eugene Puritch, P.Eng., FEC, CET, president of P&E Mining Consultants Inc.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@Class1Nickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is 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 involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Class 1 Nickel Issues Shares Under Somanike Property Option

TORONTO, Aug. 28, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company aiming to develop nickel-copper-cobalt sulphide deposits 45km northeast of Timmins, Ontario, today announces the issuance of 104,166 common shares in the capital of the Company (“Common Shares”) at a price of $0.72 per Common Share, being the closing price of the Common Shares on the date of issuance. The issuance of Common Shares satisfies all outstanding share issuances required by the Company to earn a 100% undivided interest from Quebec Precious Metals Corporation (“QPM”) in the Somanike Property, an exploration stage property consisting of 5146.06 hectares located in La Motte, Quebec. A copy of the option agreement concerning the Somanike Property dated April 27, 2020 (the “Option Agreement”) was filed under Class 1 Nickel’s SEDAR profile at www.sedar.com on August 14, 2020. The shares issued are subject to a four month hold period.

Future consideration payable by Class 1 Nickel to QPM to earn its 100% undivided interest in and to the Somanike Property includes $25,000 in cash due on or before June 15, 2022 and $50,000 in cash due on or before June 15, 2023 (collectively, the “Future Cash Consideration”).

About Class 1 Nickel and Technologies Limited

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on  the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@Class1Nickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is 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 involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s Filing Statement dated August 14, 2020 as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Class 1 Surface Samples confirm high grade mineralization; Assays validate historic Nickel-Copper-Cobalt-Platinum-Palladium

TORONTO, Aug. 27, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel & Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company developing nickel-copper-cobalt sulphide Mineral Resources near Timmins, Ontario, is pleased to announce that a verification and review report has been submitted to the Company which has confirmed the existence of high grade mineralization from surface samples.

Mr. Martin Tuchscherer, P.Geo, PhD, Specialist Geological Technical Advisor to Class 1 Nickel, recently completed an initial site visit and verification review program at the Alexo-Dundonald Project with three purposes: (i) confirm the Ni-Cu-PGE mineralization at the Alexo and Kelex open pits; (ii) to review and re-sample mineralized core; and (iii) to confirm the location of old diamond drill hole collars.

Mr. Benjamin H Cooper, President of Class 1 Nickel indicated that: “The Company engaged Tascan Geosciences Inc. to review the project sites, take samples of previously blasted rocks from around the Alexo and Kelex open pits as well as around the Dundonald high grade historical resource and the PGE occurrences to the east. The results confirm the rock types and the high grade nature of the magmatic sulphide mineralization.”

The company is proud to have retained the services of Martin Tuchscherer who has worked as a senior geologist with Canadian Royalties Inc. for five years.

Initial Site Visit Highlights: 

  • Grab samples taken from old mineralized piles at the Alexo and Kelex open pits confirm the high-grade nickel and platinum group elements (PGEs) abundances and tenor of these deposits
  • Re-sampled core confirms the high nickel and high PGE contents of the Dundonald South Deposit
  • Re-sampling of old Dundonald South core also confirmed the reproducibility of nickel (Ni), copper (Cu) and cobalt (Co) mineralization from historical work
  • Geochemical results confirm samples taken from the Dundonald Beach and Dundonald South Deposit follow a mineralized komatiite trend
  • Geochemical results for samples taken at Alexo, Kelex, Dundonald Beach and Dundonald South suggest that most samples formed in a dynamic, likely channelized komatiitic setting

A total of 38 samples were collected over a three-day period on the Alexo-Dundonald Project. These samples were submitted to ALS Canada Ltd. laboratories in Val-d’Or and Sudbury. Grab samples were sourced from surface ore boulders from the Alexo and Kelex open pits that are believed to originate from high grade mineralized material piles that were mostly processed and smelted in Sudbury. Samples were also collected from previously sampled historic drill core and from surface showings from Dundonald Beach, Mighty PGE showing and from outcrops from the Casey PGE showing areas.

Mineralized samples taken from the Alexo open pit have nickel grades ranging between 2.33% and 5.85% Ni. Mineralized samples from the Kelex open pit have nickel grades ranging between 0.988% and 5.55% Ni.

Analytical results from the eight core samples show a range in nickel grades from 1.02% Ni to 20.9% Ni.

Samples with less than 7% Sulphur (S) have major element compositions indicating a range from komatiite to komatiitic basalt.

Mr. Martin Tuchscherer states in his report:

  • A plot of Chromium versus Nickel (derived from Brand, 1999) indicates that samples (0.2 to 2.0 %Ni) from the Dundonald Beach, Kelex and Dundonald South show an increasing nickel content that follow the “mineralized komatiite trend” – that is, these samples likely formed in a highly prospective komatiitic channelized setting. Samples that contain >2.0% Ni are obviously mineralized and do not plot on this diagram.
     
  • A plot of Cu/Pd versus Pd (derived from Karykowski et al., 2017) indicates that mineralized samples from Dundonald Beach, Alexo, Kelex and Dundonald South correspond to high R factor values, typical of mineralization formed in a dynamic channelized setting.
     
  • Exact Ni tenors cannot be calculated, since the S values exceed the analytical maximum, however, a sample result of up to 20.9% Ni was observed that indicating extremely high Ni tenors.

In conjunction with these findings Class 1 Nickel now intends to engage industry experts to update the current NI 43-101 Technical Report to include the Dundonald Deposits, that are currently historical in nature.

Class 1 is developing two projects simultaneously on its 20km2 Timmins property. The Alexo-Kelex Project with an NI 43-101 Nickel Sulphide Mineral Resource open at depth and along strike situated in the northern part of the property area. The Dundonald North and South Projects are situated in the southern part of the Property area.

Previous drilling at Dundonald South has outlined eight east-west nickel-bearing sulphide zones (A-H) defined at shallow levels (>200 metres depth). Most of the lenses are open at depth and along strike. Historical Mineral Resources of 750,000 tonnes at 1.50% nickel sulphide reported by Falconbridge have been estimated in the past. Fresh, high grade Ni-Cu-PGE sulphide mineralization has been trenched at surface by Hucamp Mines. A selected Hucamp Mines sample of the mineralization returned 34.82% Ni, 0.30% Co, 3.7 g/t Pt, 5.8g/t Pd, 0.90 g/t Au, 0.44 g/t Os, 0.47 g/t Ir, 0.84 g/t Rh and 2.4 g/t Ru.

The Dundonald North is a nickel zone located on the north side of a west-plunging antiform, 2.2 km southeast and along strike from the Alexo Deposit. The zone has been traced along strike for 800 m and to a depth of 700 metres below surface with the best mineralized intersections in the centre of the channel (with historical grades up to 3.04% Ni).

Class 1 Nickel has not done sufficient work to validate or classify the historical grades at the Dundonald Project. The historical grades are not NI 43-101 compliant and should not be relied on by investors.

Webinar Update: 
Class 1 Nickel will be hosting a webinar with Amvest Capital on Thursday August 27, 2020 at 4:05 pm Eastern time (1:05 pm Pacific time). This will be a great opportunity to listen to Class 1 Nickel’s President and CEO, Benjamin Cooper. Listeners also can ask questions from Class 1 Nickel’s management. To register for the webinar (and have access to the replay) please go to:

https://attendee.gotowebinar.com/register/7612978237820978703?source=co.

Qualified Person
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Eugene Puritch, P.Eng., a Qualified Person as defined by NI 43-101.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel & Technologies Limited (CSE: NICO) is a Mineral Resource company focused on the development of its 100% owned Alexo-Dundonald Project, an advanced portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@ClassNickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is 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 involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Class 1 Nickel and Technologies Limited Commences Trading on the Canadian Securities Exchange under the Stock Symbol “NICO”

TORONTO, Aug. 20, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (“Class 1 Nickel” or the “Company”) (CSE: NICO), a Canadian company aiming to develop nickel-copper-cobalt sulphide deposits 45km northeast of Timmins, Ontario, is pleased to announce that common shares of the Company (the “Common Shares”) will commence trading today on the Canadian Securities Exchange (the “CSE”) under the stock symbol “NICO”.  

Class 1 Nickel has consolidated two komatiite-hosted nickel-copper-cobalt sulphide projects into one 20km2 land package located in the Timmins, Ontario region that envelopes a strategic group of komatiite-hosted nickel-copper-cobalt sulphide mineralization (the “Alexo-Dundonald Project”). Class 1 Nickel also holds an option to acquire the Somanike nickel-copper sulphide project in La Motte, Quebec from Quebec Precious Metals Corporation (TSX-V: QPM).

Mr Benjamin H. Cooper, President and CEO stated: “We are pleased to be trading publicly on the CSE and expect to systematically explore our nickel sulphide properties. The timing is perfect for our Company as management believes world markets are beginning to understand the value of magmatic nickel and cobalt sulphide to battery, automotive and technology sectors.”

To further the Company’s strategic objectives, several experienced geologists specializing in nickel have been retained as consultants to the Company.  

“We welcome all new investors to the Company and remain earnestly committed to exploring our projects with short lead-times, towards the goal of nickel-cobalt production” Mr Cooper stated.

The Alexo-Dundonald Project: 

A newly formed strategic land package that combines the Alexo-Kelex projects with the contiguous Dundonald project to create a larger and more diversified operation. The Alexo-Dundonald Project includes a past producing mine that remains open at depth and along strike. In addition, the Alexo-Dundonald Project appears to contain several smaller high-grade nickel-copper-cobalt-pge deposits.

  • Favourable geology – near surface komatiite hosted magmatic sulphide
  • Excellent logistics – close to suitable infrastructure, located in a safe and reliable nickel jurisdiction with skilled nickel workforce
  • Clean company and capital structure
  • Realistic potential for direct shipping production capabilities
  • Good exploration potential for further discovery of magmatic nickel sulphide mineralization
  • Experienced and highly credentialled nickel sulphide geologists retained by the Company

To obtain more information on the company visit www.class1nickel.com

Disclaimer:

The Company cautions that the mineralization at the former Alexo-Kelex Mine is not necessarily indicative of the mineralization that may be identified on the Company’s ongoing and upcoming exploration work.

Qualified Person

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Tony Donaghy, BSc. (Hons), P.Geo, a Qualified Person as defined by NI 43-101.

About Class 1 Nickel & Technologies Limited

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on  the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide projects located near Timmins, Ontario. 

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com

For additional information please visit our new website at www.class1nickel.com and our Twitter feed: @Class1Nickel.

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is 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 involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s Filing Statement dated August 14, 2020 as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release. 

Class 1 Nickel Electing to Defer Filings Following CSA Temporary Relief in Light of COVID-19

TORONTO, April 29, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (“Class 1 Nickel” or the “Company”) today announces that it intends to rely on the temporary blanket relief for market participants published on March 23, 2020 (the “Blanket Order”) by the Canadian Securities Administrators (the “CSA”) which provides for a 45-day extension to file its annual financial statements and Management Discussion and Analysis (“MD&A”) for the year ended December 31, 2019. The Company expects to file its financial statements and MD&A on or before the June 15, 2020. Until the Company has filed such financial statements and MD&A, insiders of the Company are subject to the Company’s share trading and black-out policies.

Other than as previously disclosed by the Company, there have been no material business developments since the date of the interim financial statements that were filed on November 28, 2019.”

Early Warning Report

Benjamin Cooper (the “Securityholder”), together with a joint actor, announces that he has filed an early warning report under National Instrument 62-103 in connection with the disposition of 3,190,559 common shares (“Common Shares”) of the Company by an affiliate. The Common Shares were gifted to certain individuals for no consideration.

On April 28, 2020, the Securityholder, as trustee for the Cooper Family Trust, disposed of Common Shares of the Company, which in aggregate resulted in the cumulative disposition of more than 2% of the outstanding Common Shares of the Company, thereby triggering the requirement to file an early warning report. As of April 28, 2020, the Securityholder had disposed of a total of 3,190,559 Common Shares by way of a gift to certain individuals for no consideration.

Immediately prior to the disposition, the Securityholder beneficially owned 28,190,559 Common Shares, representing 28.3% of the issued and outstanding Common Shares of the Company. As a result of the disposition, the Securityholder beneficially owns 25,000,000 Common Shares of the Company, representing 25.1% of the issued and outstanding Common Shares of the Company.

While the Securityholder currently has no plans or intentions with respect to the Company’s Common Shares, depending on market conditions, the market price of the Common Shares of the Company, general economic and industry conditions, Company’s business, financial condition and prospects and/or other relevant factors, the Securityholder may develop such plans or intentions in the future and, at such time, may from time to time acquire additional Common Shares, dispose of some or all of the existing or additional Common Shares or may continue to holder the Common Shares.

A copy of the early warning report filed by the Securityholder will be available on Class 1 Nickel and Technologies Limited’s SEDAR profile at www.sedar.com. The Company’s head office is located at 82 Richmond Street East, Toronto, Ontario M5C 1P1 and the Securityholder’s address is located at 18 King Street East, Suite 902, Toronto, Ontario M5C 1C4.

About Class 1 Nickel: 

Class 1 Nickel and Technologies Limited is a mineral resource company seeking to build base metal portfolio through the acquisition, discovery, exploration, development and operation of high-quality deposits. The Company is focused on the exploration and future development of its 100% owner Alexo-Dundonald Project, an advanced exploration stage and past-producing nickel-copper-cobalt sulphide project located near Timmins, Ontario.

For Further Information Please Contact:

Benjamin Cooper
President and Chief Executive Officer 
Class 1 Nickel and Technologies Limited
Email: bcooper@class1nickel.com

Caution Regarding Forward-Looking Statements 

This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the potential of the Alexo-Dundonald Project, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Class 1 Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Class 1 Nickel Announces Closing of Private Placement

TORONTO, April 23, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Limited (“Class 1 Nickel” or the “Company”) is pleased to announce the closing of a non-brokered private placement of 9,500,000 common shares of the Company (the “Shares”), completed at $0.10 per Share for proceeds of $950,000 (the “Offering”). 

The proceeds of the Financing will be used for general purposes and the advancement of the Company’s Alexo-Dundonald Project located near Timmins, Ontario.

David Fitch, a director of the Company, participated in the Offering for a total of $600,000 (6,000,000 Shares) (the “Insider Subscription”). The Insider Subscription is deemed to be a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation and minority approval requirements for related party transactions pursuant to Subsection 5.5(a) and Subsection 5.7(a) of MI 61-101, respectively.

The Shares issued under the Offering are subject to statutory hold period of four (4) months and a day from the date of issuance, in accordance with applicable securities legislation.

Early Warning Report 

Immediately prior to the closing of the Financing, Mr. David Fitch held directly and indirectly 33,671,330 Shares or approximately 37.4% of the then 90,029,209 issued and outstanding Shares. Following the closing of the Offering, Mr. Fitch holds 39,671,330 Shares or approximately 39.8% of the total number of issued and outstanding Shares, representing an increase in Mr. Fitch’s ownership of the Company by 2.4%. The Shares were acquired by Mr. Fitch for investment purposes, and depending on market and other conditions, Mr. Fitch may from time to time in the future increase or decrease ownership, control or direction over securities of the Company, through market transactions, private agreements, or otherwise. For the purposes of this notice, the address of Mr. Fitch is Unit 3901 Crown Towers, 5 Palm Avenue, Surfers Paradise, QLD 4217, Australia.

In satisfaction of the requirements of the National Instrument 62-104 – Take-Over Bids And Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, Early Warning reports respecting the acquisition of Shares by Mr. David Fitch will be filed under the Company’s SEDAR Profile at www.sedar.com.

About Class 1 Nickel: 

Class 1 Nickel and Technologies Limited is a mineral resource company seeking to build base metal portfolio through the acquisition, discovery, exploration, development and operation of high quality deposits. The Company is focused on the exploration and future development of its 100% owned Alexo-Dundonald Project, an advanced exploration stage and past-producing nickel-copper-cobalt sulphide project located near Timmins, Ontario.

For Further Information Please Contact:

Benjamin Cooper
President and Chief Executive Officer 
Class 1 Nickel and Technologies Limited
Email: bcooper@class1nickel.com

Caution Regarding Forward-Looking Statements 

This press release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward looking information includes, but is not limited to, the potential of the Alexo-Dundonald Project, strategic plans, including future exploration and development results, and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors that could affect the outcome include, among others: future prices and the supply of metals, the future demand for metals, the results of drilling, inability to raise the money necessary to incur the expenditures required to retain and advance the property, environmental liabilities (known and unknown), general business, economic, competitive, political and social uncertainties, results of exploration programs, risks of the mining industry, delays in obtaining governmental approvals, and failure to obtain regulatory or shareholder approvals. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Class 1 Nickel disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Class 1 Announces Flow-Through Closing

TORONTO, Dec. 17, 2020 (GLOBE NEWSWIRE) — Class 1 Nickel and Technologies Ltd. (CSE: NICO) (“Class 1” or the “Company“) is pleased to announce the closing of its non-brokered private placement of flow-through shares at an issue price of $1.10 per share (the “Offering”) which closed on December 16, 2020.

The Company raised a total of $1,499,999.60 from the sale of 1,363,636 flow-through shares in the Offering.

All securities will be subject to a four-month hold period from the closing date. On this closing, the Company paid a total of $119,999.97 in compensation to certain finders.

Proceeds of the Offering will be used to satisfy drilling commitments under the Company’s option agreement with Quebec Precious Metals Corporation for the Somanike Property located in the Abitibi region of Quebec.

Class 1 Nickel and Technologies Limited (CSE: NICO) is a mineral resource company focused on the development of its 100% owned Alexo-Dundonald Project, a portfolio of komatiite hosted magmatic nickel-copper-cobalt sulphide resources located near Timmins, Ontario, as well as developing and exercising the option over the Somanike komatiite hosted nickel copper project in Quebec, which includes the famous Marbridge Mine.

For more information, please contact:

Benjamin Cooper, President
T: 416.454.0166
E: info@class1nickel.com 

For additional information please visit our new website at www.class1nickel.com and our Twitter feed:@Class1Nickel.

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.