NIO:CC - Nio Strategic Metals Closes its 1478472 B.C. Ltd. Acquisition
(TheNewswire)
Acquiring 100% interest in 90mineral claims covering 4,956 hectares in the Mont Laurierregion
Montreal, Quebec – TheNewswire - June 10, 2024 –Nio Strategic Metals Inc. (TSXV: NIO) (OTC: NIOCF) (“ Nio ” or the“ Company ”) ispleased to announce that, further to its news releases dated May 1st,2024, it has closed the acquisition of all outstanding shares,representing a 100% interest, in 1478472 B.C. Ltd. a company holding90 mining claims comprising the Fafnir Project in Quebec, Canada (the“ Acquisition ”).
The Project covers approximately 4,956 hectares (50square kilometers) located approximately 60 km north west of MontLaurier, and 165 km north of Gatineau and is home to some largehigh-grade niobium and Uranium deposits and discoveries. There isexcellent access to all parts of the property that are heldstrategically throughout the region.
The Company will beevaluating and prioritizing a work program on the claims during thissummer and will provide additional updates in the coming weeks.
Transaction Terms
In consideration of theacquisition of all outstanding shares in 1478472 B.C. Ltd., theCompany paid the shareholders the sum of $75,000 and issued anaggregate of 3,988,633 common shares in the capital of the Company(the “Shares”). The Shares are subject to restrictions on resalefor four months and one day from issuance.
The Fafnir project, subject of pass geophysics andground work has a large intrusive NYF (Niobium-Yttrium-Fluorine) typepegmatite which has returned 9,238 ppm for Niobium, 8,022 ppm ofUranium and 1,288 ppm of Praseodymium (Pr) / Neodymium (Nd). TheStructural shear fault that truncates the property’s South Westernflanc, being the likely context for enrichment, also truncates thePetawaga Indice, site of a bulk sample that revealed 3.4% Niobium,0.7% uranium and ~1% to 1.5% Lithium, is located 30 kilometers southwest of Fafnir. The Boxi project located 10 kilometers, North Westof Fafnir is further evidence of the strong Rare Earth Elementsenrichment in the area, having reported assays of 14% Uranium, 26%Niobium and 3,700 ppm in Pr/Nd.
“ The proposed Acquisitionstrengthens Nio’s portfolio in niobium properties and is in linewith our strategy to meet increasing demand for the critical mineralsneeded for electric vehicles, infrastructure and much neededniobium-based products perfectly fits our renewed strategy to enterthe critical metals ecosystem ” said NioPresident and CEO Hubert Marleau.
“The niobium potentialof this area has started to attract our attention a long time ago. Iwant to thank Michel Belisle and both geology teams for thisopportunity and getting prepared for an exploration program on theFafnir project,” said Marleau.
Qualified Person
Pierre-Jean Lafleur, Eng., and geological consultant,is a qualified person within the meaning of National Instrument 43-101on standards of disclosure for mineral projects. He has reviewed andapproved the technical information contained in this pressrelease .
About Nio Strategic Metals
Nio Strategic Metals is an exploration and developmentcompany, with a focus on becoming a ferroniobium producer. The Companyholds a niobium property in Oka, Québec and other explorationproperties in the Province of Québec.
For more information on the Company, please refer to the Company’s public documents available on SEDAR ( www.sedarplus.ca ) or on theCompany’s website ( https://niostratmet.com/ ).
For more information, please contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
nio.investorinformation@gmail.com
514-560- 7623
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement on Forward-Looking Information
This news release containsforward-looking statements and forward-looking information (together,“forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements.Generally, forward-looking statements can be identified by the use ofterminology such as “plans”, “expects”, “estimates”,“intends”, “anticipates”, “believes” or variations of suchwords, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminologyalthough not all forward-looking statement contains these terms andphrases. Forward-looking statements involve risks, uncertainties andother factors that could cause actual results, performance, prospectsand opportunities todiffer materially fromthose expressed or implied bysuch forward-looking statements. These risks and uncertaintiesinclude, but are not limited to, the risk factors set out in NioStrategic Metals’ annual and/or quarterly management discussion andanalysis and in other of its public disclosure documents filed onSEDAR at www.sedarplus.ca, aswell as all assumptions regarding the foregoing. Although Nio Strategic Metals believes that the assumptions and factors used in preparing the forward-lookingstatements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events willoccur in the disclosed time frame or at all. Except where required by applicable law, Nio Strategic Metals disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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