(TheNewswire)
Montreal, Quebec - TheNewswire - November 13, 2020 --Niocan Inc. ("Niocan" or the"Company") (TSXV:NIO) announces it has received confirmationfrom the Ministere de l'Energie et desRessources naturelles ("MERN") of the approval of theconversion of its mining lease concerning itsniobium property located in the Oka region in Quebec,Canada into claims.
The mining lease has been in existence since 2000 andthe Company has for many years been awaiting the receipt of aCertificate of Authorization from the Ministry of SustainableDevelopment, Environment and Fight against Climate Change("MDDELCC") which would allow it toexploit its Oka mine project. The Company considers that it hasproduced all information required by the MDDELCC for the issuance of aCertificate of Authorization; however, in spite of the Company'srepeated attempts to obtain an indication from the MDDELCC as to itsintentions relative to the Certificate of Authorization, the Companyhas not yet received conclusive information to this effect. Themining lease for the property expired on July 20, 2020, at which timeNiocan requested that the MERN issue mining claims over the landscovered by the lease. A decision was made by the MERN to issue theclaims to Niocan.
Hubert Marleau, President and CEO commented,"Securing ownership of our land position is fundamental to ourthesis of developing the Niobium Property. Converting the mining leaseinto claims will allow us to perform required studies and focus ourexploration activities with a view to eventuallycommercializing".
For more information on the Company, please refer tothe Company's public documents available on SEDAR ( www.sedar.com ).
For more information, please contact:
Hubert Marleau
Chairman, President and Chief Executive Officer
niocan.investorinformation@gmail.com
(514) 560-7623
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release areforward-looking and are subject to numerous risks and uncertainties,known and unknown. For information identifying known risks anduncertainties, relating to the issuance by the Ministry of Environmentof the Certificate of Authorization to build the mine in Oka,financial resources, market prices, exchange rates, politico-socialconflicts, competition, regulatory approvals, the purchase of the oldSt-Lawrence Columbium mine site from the Municipality of Oka shouldthe Certificate of Authorization be issued, and other importantfactors that could cause actual results to differ materially fromthose anticipated in the forward-looking statements, please refer tothe Risk and Uncertainties Section of the Company's most recentManagement's Discussion and Analysis, which may be found at www.sedar.com . Consequently, actualresults may differ materially from the anticipated results expressedin these forward-looking statements.
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