(TheNewswire)
July8, 2021 – TheNewswire - Vancouver, BC, Canada - Nickel Rock Resources Inc. (the “Company”and “Nickel Rock”) ( TSXV:NICL ) , ( OTC:NICKLF ) , ( FSE:NMK2 ) announces that ithas entered into a n option agreement with SurgeBattery Metals Inc. (“Surge”) dated July 7, 2021 (the“Agreement”), whereby Surge may earn an undivided 80% interest inthe Hard Nickel and Nickel 100 group of claims, located in NorthernBritish Columbia (the “Transaction”). The Transaction is subjectto TSX Venture Exchange (Exchange) acceptance.
Terms of the Option:
Purchase Price – Surge willissue 5,000,000 fully paid and non-assessable common shares to theCompany upon Exchange Approval. In addition, Surge shall incur anaggregate of $200,000 in Exploration Expenditures on the Property onor before two years from the date of the Agreement.
JointVenture – Upon Surge having exercised theOption, Surge will have earned an undivided 80% interest in theProperty, and the parties will enter into a Commercially Reasonableand Definitive Joint Venture Agreement.
Qualified Person
Jacques Houle, P.Eng., a qualified person as defined byNI 43 – 101, is responsible for the technical information containedin this release. Readers are cautioned that the information in thispress release regarding the property of FPX Nickel Corp is notnecessarily indicative of the mineralization on the property ofinterest.
About Nickel Rock ResourcesInc.
The Company is a Canadian-based mineral explorationcompany active in the exploration for nickel-iron alloy in BritishColumbia and lithium in Nevada. Nickel Rock Resources Inc. is aCanadian based exploration company whose primary listing is on the TSXVenture Exchange. The Company’s maintains a focus on explorationfor high value battery metals required for the electric vehicle (EV)market. www.nickelrockresources.com
About Clayton Valley LithiumProject
Clayton Valley is a down-dropped closed basin formed bythe Miocene age Great Basin extension and is still active due tomovement along the Walker Lane structural zone. As a result, thebasin has preserved multiple layers of lithium bearing volcanic ash,resulting from multiple eruptive events over the past 6 million yearsincluding eruptions from the 700,000-year-old Long Valley Calderasystem and related events. These ash layers are thought tocontribute to the lithium brines extracted by Albemarle and are alsolikely involved in the formation of the exposed lithium rich claydeposits on the east side of Clayton Valley. nickelrockresources.com/clayton-valley-lithium
About the British Columbia, NickelProjects
Hard Nickel and Nickel 100 Claims
The Mount Sidney Williams Group consists of seven claimblocks in four groups with a total area of 6,900.82 hectares in thearea surrounding Mount Sidney Williams, both adjoining and near theDecar project of FPX Nickel Corp., located 100 kilometres northwest ofFort St. James, B.C., in the Omineca mining division. Metallicmineralization includes nickel, cobalt, and chromium. At least some ofthe nickel mineralization occurs as awaruite. The Mitchell RangeGroup area claim consist of five claim blocks covering 8,659.88hectares with demonstrated metallic mineralization including nickel,cobalt, and chromium. Nickel and cobalt mineralization have not beenwell explored, but the presence of awaruite has been documented.
Klone Claims
On October 15, 2020 the Company entered into an optionagreement to earn an undivided 100% interest in the Klone group ofmineral claims (1,400 ha) adjoining the propertyof FPX Nickel Corp (TSXV:FPX) located 100km northwest of Fort St.James BC in the Omineca Mining division.
Funk Claims
On February 1, 2021 and February 22, 2021, the Companyentered into an option agreement to earn an undivided 100% interest,subject to a 2% NSR in 6 mineral claims locatedapproximately 15 km west of Mt Sydney Williams near Fort St James, BC. Additionally, the Company located two adjoining claims by titleselection.
On Behalf of the Board of Directors
“Robert Setter”
604-428-5690
Robert Setter, President & CEO
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release. This news release may containforward-looking statements which include, but are not limited to,comments that involve future events and conditions, which are subjectto various risks and uncertainties. Except for statements ofhistorical facts, comments that address resource potential, upcomingwork programs, geological interpretations, receipt and security ofmineral property titles, availability of funds, and others areforward-looking. Forward-looking statements are not guarantees offuture performance and actual results may vary materially from thosestatements. General business conditions are factors that could causeactual results to vary materially from forward-lookingstatements.
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