(TheNewswire)
Vancouver, BC, Canada – TheNewswire - March 19,2021: - Nickel RockResources Inc. (“the Company”) ( TSXV:NICL ) ( OTC:NICKLF ) announces that further to the Company’s news release datedFebruary 2, 2021 and Option Agreement entered into with 802213 AB Ltd. for the purchase of a 100% interest, subject toa 2% NSR, in 6 mineral claims, covering 22.6 sq.km, locatedapproximately 15 km west of Mt Sydney Williams and the Decar Nickeldeposit of FPX Nickel (V.FPX), near Fort St James, BC, the Company hasamended the terms of the Option Agreement with respect to the shareissuances.
The share issuances have now been amended so that450,000 shares will be issued upon TSX Venture Exchange(“Exchange”) acceptance to the Transaction. 450,000 shares willbe issued on the 1 st anniversary of Exchange approval; 500,000shares will be issued on the 2 nd anniversary ofExchange approval; 600,000 shares will be issued on the 3 rd anniversary ofExchange approval; 1,000,000 shares will be issued on the4 th anniversary of Exchange approval and 3,000,000 will be issued uponconversion of the claims to a mining lease. All other terms of theOption Agreement remain the same.
The Agreement is subjectto Exchange approval and all securities issuedin connection with transaction will be subject to a four month and aday hold period in accordance with applicable securities laws.
The Company also announces that Konstantin Lichtenwaldhas been appointed as Chief Financial Officer in place of Tak Tsan(Simon) Tso, effective today.
Mr. Lichtenwald specializes in providing corporatefinance, valuation, taxation, financial reporting, consulting andother accounting services to both small businesses as well as publiccommodity resource companies. He also assists in many aspects ofclients' administration, financing and other activities. Mr.Lichtenwald also worked at Ernst & Young GmbH, Germany, in theassurance department. He earned his Bachelor of BusinessAdministration from Pforzheim University, Germany, and holds theprofessional designation of chartered professional accountant (CPA,CGA), and he is a member of Chartered Professional Accountants ofBritish Columbia and Canada. Mr. Lichtenwald has had extensiveexperience as a controller and CFO of numerous publicly traded andprivate corporations in several industries.
The board thanks Simon Tso for his contributions to theCompany
About Nickel Rock Resources Inc. www.nickelrockresources.com
Nickel Rock Resources Inc is a Canadian-based mineralexploration company with a highly focused effort on exploration forhigh value battery metals required for the electric vehicle (EV)market. The Company recently announced several acquisitionsresulting in a significant property package prospective for awaruite,a naturally occurring nickel-iron alloy important in the manufactureof environmentally efficient batteries for the electric vehiclemarkets globally.
The Mount SidneyWilliams Group consists of five claim blocks in four groups with atotal area of 7,525.32 .32 hectares (18,595 acres) in the areasurrounding Mount Sidney Williams, both adjoining and in closeproximity to the Decar project of FPX Nickel Corp. (TSXV:FPX) , located 100 kilometresnorthwest of Fort St. James, B.C., in the Omineca Mining Division.Metallic mineralization includes nickel, cobalt, and chromium. Atleast some of the nickel mineralization occurs as awaruite.
The Mitchell Range Grouparea claim consist of two contiguous claim blocks covering 3,134.70hectares with demonstrated metallic mineralization including nickel,cobalt, and chromium. Nickel-cobalt mineralization has not been wellexplored, but the presence of awaruite has been documented. TheCompany is planning detailed exploration for the upcoming explorationseason. The acquisition of the Hard NickelGroup and the Nickel 100 claims are subject to TSX Venture Exchangeapproval.
Lithium Projects
The Clayton Valley Project is an early-stage lithiumbrine prospect in Esmeralda County, Nevada. A total of 118 claimscovering about 930 ha (2,300 acres) were staked over the western sideof the Clayton Valley playa. The property position covers an inferredgraben bounded by the Silver Peak range front on the west and GoatIsland on the east. The exploration concept is the graben is asub-basin of the larger Clayton Valley basin and may represent asecondary trap for lithium brines within the greater system.
On Behalf of the Board of Directors
“Robert Setter”
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.
Copyright (c) 2021 TheNewswire - All rights reserved.